Wendt (India) Ltd announces Q4FY21, FY2021 results

The Board of Directors of Wendt (India) Ltd met today and approved the audited financial results for the quarter and year ended 31st Mar' 2021.

Standalone Results:

On a Standalone basis, the Company achieved sales of Rs.11900 lakhs during the year ended 31st Mar'2021, which is 1% lower than the previous year. The domestic sales was Rs 8622 lakhs during the year ended 31st Mar'2021, which is higher by 7% than the previous year. This is on account of higher sales to user industries like auto ancillaries, refractories, glass etc.

Exports was Rs.3278 lakhs during the year ended 31st Mar'2021, which is lower by 18% over the previous year. The lower exports is mainly on account of lower demand due to continued slow down and lockdowns imposed in view of the second wave of COVID reported in UK, US and other European countries.

Accordingly, the Profit after Tax (PAT) for the current year is Rs.1291 lakhs, which is 38% higher than the previous year.

The Company achieved total Sales of Rs.4059 lakhs for the quarter ended 31st Mar 2021, which is 83% higher than the corresponding quarter previous year with PAT of Rs.597 lakhs, 648% higher than the corresponding quarter last year.

Consolidated Results:

On a Consolidated basis, Company's sales stood at Rs.13506 lakhs for the current year, which is 4% lower than the previous year with the PAT of Rs.1277 lakhs, which is 27% higher than the previous year.

The Company achieved Sales of Rs.4515 lakhs for the quarter ended 31st Mar 2021 which is 76% higher than the corresponding quarter previous year and PAT of Rs.530 lakhs, which is 788% higher than the previous year.

Subsidiaries:

The Company's wholly owned subsidiary in Thailand, Wendt Grinding Technologies Ltd, achieved Sales of Rs. 1830 lakhs during the year with the PAT of Rs. 242 lakhs.

The Company's other wholly owned subsidiary in Sharjah, Wendt Middle East, clocked sales of Rs.270 lakhs during the year with the PAT of Rs 11 lakhs. Considering the challenging business conditions and future viability of profitable operations in Middle East, the voluntary de-registration of WME has been initiated and is expected to be completed in the next few months.

Dividend:

The Board of Directors have recommended a 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 23rd July'2021.

Shares of WENDT (INDIA) LTD. was last trading in BSE at Rs.3350 as compared to the previous close of Rs. 3130. The total number of shares traded during the day was 721 in over 132 trades.

The stock hit an intraday high of Rs. 3500 and intraday low of 3211.7. The net turnover during the day was Rs. 2433469.

Source : Equity Bulls

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