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The grinding solution provider reported a 21% increase in net sales, achieving Rs 190.95 crore in sales for the year ended 31 March 2023. Profit After Tax (PAT) for the year was Rs 40.12 crore, a 48% increase from the previous year, due to higher sales, improved product mix, and cost control measures.
The company's domestic sales for the year ended March 2023 rose 16% YoY to Rs 137.83 crore, thanks to increased sales to major industries. Exports during the same period rose 34% YoY to Rs 53.12 crore, attributed to higher sales to countries like USA, Russia, UK, Germany, Italy, and Korea.
On a consolidated basis, Wendt (India) reported sales of Rs 207.61 crore for the current year, a 17% increase from the previous year, with a PAT of Rs 40.09 crore, a 48% increase from the previous year.
In Q4 March 2023, Wendt India's revenue increased by 20.82% to Rs 57.15 crore, and its net profit increased by 71.22% to Rs. 12.79 crore. Its profit before tax also increased by 60.21% to Rs. 16.47 crore.
The board has proposed a final dividend of Rs 50 per share, subject to shareholder's approval.
Wendt India offers a diverse range of products including super abrasives, machinery and precision components.
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