- Sales of Super Abrasives segment has gone down 1.92% to Rs 32.18 crore (accounting for 59.45% of total sales). Sales of Machines Accessories and components segment has gone up 59.57% to Rs 10.42 crore (accounting for 19.25% of total sales). Sales of Others segment rose 9.05% to Rs 4.34 crore (accounting for 8.02% of total sales). Sales of Precision Products segment has gone down 5.77% to Rs 7.19 crore (accounting for 13.28% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has slumped 3.73% to Rs 11.37 crore. PBIT of Super Abrasives segment fell 8.33% to Rs 7.48 crore (accounting for 65.79% of total PBIT). PBIT of Machines Accessories and components segment rose 95.58% to Rs 2.21 crore (accounting for 19.44% of total PBIT). PBIT of Others segment fell 29.03% to Rs 0.44 crore (accounting for 3.87% of total PBIT). PBIT of Precision Products segment fell 34.74% to Rs 1.24 crore (accounting for 10.91% of total PBIT).
- PBIT margin of Super Abrasives segment fell from 24.87% to 23.24%. PBIT margin of Machines Accessories and components segment rose from 17.30% to 21.21%. PBIT margin of Others segment fell from 15.58% to 10.14%. PBIT margin of Precision Products segment fell from 24.90% to 17.25%. Overall PBIT margin fell from 23.18% to 21.00%.
For year-to-date (YTD) results analysis.
Consolidated net sales (including other operating income) of Wendt India for the nine month ended Dec 2023 has increased 3.60% to Rs 156.76 crore.
Sales of Super Abrasives segment has gone up 1.30% to Rs 99.16 crore (accounting for 63.78% of total sales). Sales of Machines Accessories and components segment has gone up 17.91% to Rs 21.33 crore (accounting for 13.72% of total sales). Sales of Others segment rose 0.23% to Rs 12.85 crore (accounting for 8.27% of total sales). Sales of Precision Products segment has gone up 0.05% to Rs 22.13 crore (accounting for 14.23% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 3.94% to Rs 32.44 crore. PBIT of Super Abrasives segment rose 1.47% to Rs 22.75 crore (accounting for 70.13% of total PBIT). PBIT of Machines Accessories and components segment rose 41.14% to Rs 4.46 crore (accounting for 13.75% of total PBIT). PBIT of Others segment fell 33.17% to Rs 1.35 crore (accounting for 4.16% of total PBIT). PBIT of Precision Products segment fell 37.12% to Rs 3.88 crore (accounting for 11.96% of total PBIT).
PBIT margin of Super Abrasives segment rose from 22.90% to 22.94%. PBIT margin of Machines Accessories and components segment rose from 17.47% to 20.91%. PBIT margin of Others segment fell from 15.76% to 10.51%. PBIT margin of Precision Products segment fell from 27.89% to 17.53%. Overall PBIT margin fell from 22.38% to 20.87%.
Operating profit margin has declined from 25.93% to 24.31%, leading to 2.88% decline in operating profit to Rs 38.11 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 24.80% to 27.85%. Purchase of finished goods cost fell from 8.70% to 7.15%. Employee cost increased from 17.95% to 18.28%. Other expenses rose from 22.40% to 22.68%.
Other income rose 62.58% to Rs 5.3 crore. PBIDT rose 2.14% to Rs 43.41 crore. Provision for interest remained nil.
PBDT rose 2.19% to Rs 43.41 crore. Provision for depreciation rose 6.07% to Rs 6.29 crore.
Profit before tax grew 1.56% to Rs 37.12 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 9.55 crore, compared to Rs 9.25 crore. Effective tax rate was 25.73% compared to 25.31%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 0.99% to Rs 27.57 crore.
Promoters’ stake was 75.00% as of 31 December 2023 ,compared to 75.00% as of 31 December 2022 .