Other income rose 5.20% to Rs 1.82 crore.  PBIDT rose 3.75% to Rs 19.35 crore.  Provision for interest remained nil.  PBDT rose 3.75% to Rs 19.35 crore.  Provision for depreciation rose 3.67% to Rs 2.26 crore.  Profit before tax grew 3.76% to Rs 17.09 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 3.71 crore, compared to Rs 3.68 crore.  Effective tax rate was 21.71% compared to 22.34%. Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 4.61% to Rs 13.38 crore.  

• Sales of Super Abrasives segment has gone down 10.79% to Rs 33.99 crore (accounting for 48.93% of total sales).  Sales of Machines Accessories and components segment has gone up 168.77% to Rs 25.99 crore (accounting for 37.41% of total sales).  Sales of Others segment rose 49.48% to Rs 4.29 crore (accounting for 6.18% of total sales).  Sales of Precision Products segment has gone down 20.12% to Rs 5.20 crore (accounting for 7.49% of total sales).  
• Profit before interest, tax and other unallocable items (PBIT) has jumped 3.96% to Rs 15.49 crore.  PBIT of Super Abrasives segment fell 34.76% to Rs 8.39 crore (accounting for 54.16% of total PBIT).  PBIT of Machines Accessories and components segment rose 478.26% to Rs 6.65 crore (accounting for 42.93% of total PBIT).  PBIT of Others segment rose 100.00% to Rs 0.34 crore (accounting for 2.19% of total PBIT).  PBIT of Precision Products segment fell 84.72% to Rs 0.11 crore (accounting for 0.71% of total PBIT).  
• PBIT margin of Super Abrasives segment fell from 33.75% to 24.68%.  PBIT margin of Machines Accessories and components segment rose from 11.89% to 25.59%.  PBIT margin of Others segment rose from 5.92% to 7.93%.  PBIT margin of Precision Products segment fell from 11.06% to 2.12%.  Overall PBIT margin fell from 26.07% to 22.30%.  

Full year results analysis.

Net sales (including other operating income) of Wendt India has increased 7.89% to Rs 226.83 crore.  Sales of Super Abrasives segment has gone down 2.09% to Rs 133.15 crore (accounting for 59.19% of total sales).  Sales of Machines Accessories and components segment has gone up 70.46% to Rs 47.32 crore (accounting for 21.04% of total sales).  Sales of Others segment rose 9.24% to Rs 17.14 crore (accounting for 7.62% of total sales).  Sales of Precision Products segment has gone down 4.54% to Rs 27.33 crore (accounting for 12.15% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 2.75% to Rs 47.33 crore.  PBIT of Super Abrasives segment fell 11.73% to Rs 31.14 crore (accounting for 65.79% of total PBIT).  PBIT of Machines Accessories and components segment rose 157.77% to Rs 11.11 crore (accounting for 23.47% of total PBIT).  PBIT of Others segment fell 50.23% to Rs 1.09 crore (accounting for 2.30% of total PBIT).  PBIT of Precision Products segment fell 42.09% to Rs 3.99 crore (accounting for 8.43% of total PBIT).  

PBIT margin of Super Abrasives segment fell from 25.94% to 23.39%.  PBIT margin of Machines Accessories and components segment rose from 15.53% to 23.48%.  PBIT margin of Others segment fell from 13.96% to 6.36%.  PBIT margin of Precision Products segment fell from 24.07% to 14.60%.  Overall PBIT margin fell from 23.39% to 21.04%.  

Operating profit margin has declined from 26.71% to 24.53%, leading to 0.93% decline in operating profit to Rs 55.64 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 25.79% to 30.20%.   Purchase of finished goods cost fell from 7.97% to 6.30%.   Employee cost decreased from 17.05% to 16.95%.   Other expenses fell from 22.42% to 22.15%.   

Other income rose 42.69% to Rs 7.12 crore.  PBIDT rose 2.63% to Rs 62.76 crore.  Provision for interest remained nil.  Loan funds remained nil.  Inventories rose to Rs 35.95 crore as of 31 March 2024 from Rs 34.15 crore as of 31 March 2023.  Sundry debtors were higher at Rs 53.52 crore as of 31 March 2024 compared to Rs 40.30 crore as of 31 March 2023.  Cash and bank balance rose to Rs 18.04 crore as of 31 March 2024 from Rs 13.41 crore as of 31 March 2023.  Investments rose to Rs 73.45 crore as of 31 March 2024 from Rs 70.96 crore as of 31 March 2023 .  

PBDT rose 2.67% to Rs 62.76 crore.  Provision for depreciation rose 5.43% to Rs 8.55 crore.  Fixed assets increased to Rs 60.65 crore as of 31 March 2024 from Rs 57.95 crore as of 31 March 2023.  Intangible assets stood at Rs 0.10 crore.  

Profit before tax grew 2.24% to Rs 54.21 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 13.26 crore, compared to Rs 12.93 crore.  Effective tax rate was 24.46% compared to 24.39%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 2.15% to Rs 40.95 crore.  

Dividend

The Board of Directors have recommended final dividend of Rs. 20 /- per share (200 % on face value of equity shares of Rs 10/- each) out of the current year’s profits. The payment of dividend is subject to the approval of shareholders in ensuing Annual General Meeting of the company to be held on 22nd July’2024. With the Company having declared an interim dividend of Rs. 30 /- per share (300 % on face value of equity shares of Rs 10/- each) at its Board Meeting held on 19th January’2024, the total dividend for the year ended March 31, 2024 is Rs. 50 /- per share ( 500 % of the face value of equity shares of Rs. 10/- each). 

Other developments

Equity capital stood at Rs 2.00 crore as of 31 March 2024 to Rs 2.00 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .  

Cash flow from operating activities decreased to Rs 29.81 crore for year ended March 2024 from Rs 33.00 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 16.45 crore, compared to Rs 9.86 crore during the year ended March 2023.