Capitaline

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 .

Quarter ended

Year to Date

Year ended

Particulars

202312

202212

Var.(%)

202312

202212

Var.(%)

202303

202203

Var.(%)

Net Sales (including other operating income)

54.50

51.13

6.59

156.76

151.31

3.60

210.24

178.81

17.58

OPM (%)

24.33

26.66

-233 bps

24.31

25.93

-162 bps

26.71

23.30

341 bps

13.26

13.63

-2.71

38.11

39.24

-2.88

56.16

41.67

34.77

Other Inc.

1.82

1.78

2.25

5.30

3.26

62.58

4.99

3.87

28.94

PBIDT

15.08

15.41

-2.14

43.41

42.50

2.14

61.15

45.54

34.28

Interest

0.02

PBDT

15.08

15.41

-2.14

43.41

42.48

2.19

61.13

45.52

34.29

Depreciation

2.1

1.96

7.14

6.29

5.93

6.07

8.11

8.61

-5.81

PBT

12.98

13.45

-3.49

37.12

36.55

1.56

53.02

36.91

43.65

Share of Profit/(Loss) from Associates

PBT before EO

12.98

13.45

-3.49

37.12

36.55

1.56

53.02

36.91

43.65

EO Income

PBT after EO

12.98

13.45

-3.49

37.12

36.55

1.56

53.02

36.91

43.65

Taxation

3.38

9.55

9.25

3.24

12.93

9.84

31.40

PAT

9.6

10.07

-4.67

27.57

27.3

0.99

40.09

27.07

48.10

Minority Interest (MI)

Net profit

9.6

10.07

-4.67

27.57

27.3

0.99

40.09

27.07

48.10

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

9.6

10.07

-4.67

27.57

27.3

0.99

40.09

27.07

48.10

EPS (Rs)*

48.00

50.35

-4.67

137.85

136.50

0.99

200.45

135.35

48.10

* EPS is on current equity of Rs 2.00 crore, Face value of Rs 10, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year to Date

Year ended

% of (Total)

202312

202212

Var.(%)

% of (Total)

202312

202212

Var.(%)

% of (Total)

202303

202203

Var.(%)

Sales

Super Abrasives

59.45

32.18

32.81

-1.92

63.78

99.16

97.89

1.30

65.36

135.99

112.54

20.84

Machines Accessories and components

19.25

10.42

6.53

59.57

13.72

21.33

18.09

17.91

13.34

27.76

24.54

13.12

Others

8.02

4.34

3.98

9.05

8.27

12.85

12.82

0.23

7.54

15.69

17.09

-8.19

Precision Products

13.28

7.19

7.63

-5.77

14.23

22.13

22.12

0.05

13.76

28.63

23.07

24.10

Total Reported Sales

100.00

54.13

50.95

6.24

100.00

155.47

150.92

3.01

100.00

208.07

177.24

17.39

Less: Inter segment revenues

0.00

Net Sales

100.00

54.13

50.95

6.24

100.00

155.47

150.92

3.01

100.00

208.07

177.24

17.39

PBIT

Super Abrasives

65.79

7.48

8.16

-8.33

70.13

22.75

22.42

1.47

72.49

35.28

20.44

72.60

Machines Accessories and components

19.44

2.21

1.13

95.58

13.75

4.46

3.16

41.14

8.86

4.31

4.43

-2.71

Others

3.87

0.44

0.62

-29.03

4.16

1.35

2.02

-33.17

4.50

2.19

3.12

-29.81

Precision Products

10.91

1.24

1.90

-34.74

11.96

3.88

6.17

-37.12

14.16

6.89

5.50

25.27

Total PBIT

100.00

11.37

11.81

-3.73

100.00

32.44

33.77

-3.94

100.00

48.67

33.49

45.33

Less : Interest

0.00

0.02

Add: Other un-allcoable

1.61

1.64

-1.83

4.68

2.80

67.14

4.37

3.44

27.03

PBIT Margin(%)

Super Abrasives

23.24

24.87

-162.62

22.94

22.90

3.95

25.94

18.16

778.07

Machines Accessories and components

21.21

17.30

390.45

20.91

17.47

344.13

15.53

18.05

-252.62

Others

10.14

15.58

-543.96

10.51

15.76

-525.08

13.96

18.26

-429.84

Precision Products

17.25

24.90

-765.55

17.53

27.89

-1,036.05

24.07

23.84

22.52

PBT

100.00

12.98

13.45

-3.49

100.00

37.12

36.55

1.56

100.00

53.02

36.91

43.65