Table of Contents

Wendt India Ltd

Updated on April 21, 2024

Stock/Share Code - WENDT

Wendt India is a leading manufacturer of Super Abrasives, High precision Grinding, Honing and Special Purpose Machines and High Precision components.

Below is the details of WENDT Wendt India Ltd

Market Cap	₹708.43 Cr.
Current Price	₹8,330.6 as on 23 Mar 23
52 Week High / Low Price	₹4,275.7 / ₹1,590
Face Value	₹10
Stock P/E	127.19
Book Value	₹598.3
Dividend Yield	0.71 %
ROCE	9.46 %
ROE	7.01 %
Sales Growth (3yrs)	-1.63 %
Sector	Capital Goods-Non Electrical Equipment
Industry	Abrasives And Grinding Wheels
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Company is virtually debt free. Company has been maintaining a healthy dividend payout of 46.24%

Cons: Stock is trading at 5.88 times its book value The company has delivered a poor growth of 2.88% over past five years. Company has a low return on equity of 10.16% for last 3 years. Earnings include an other income of Rs.7.08 Cr.

Wendt India Ltd Price Chart

Wendt India Ltd Peer Comparison in Capital Goods-Non Electrical Equipment

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.		33.22	₹5,588.04 Cr.	1.47	₹28.41 Cr.	-33.53	-43.50	232.42	20.24
2.	Carborundum Uni.		21.33	₹5,105.61 Cr.	1.02	₹19.73 Cr.	-62.61	-33.04	449.58	18.85
3.	Wendt India		127.19	₹708.43 Cr.	0.71	₹0.08 Cr.	-97.92	-43.68	19.29	9.46
4.	Orient Abrasives		12.75	₹230.9 Cr.	1.29	₹2.16 Cr.	-61.36	-29.74	61.68	12.79
5.	Welcast Steels			₹24 Cr.	0.67	-₹0.87 Cr.	-422.22	-43.23	23.74	-0.13

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Wendt India Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020
Sales -	33.01	31.42	36.77	37.20	35.86	37.28	32.51	34.25	37.96	28.27	22.79	19.29
YOY Sales Growth %	-2.65%	-3.56%	6.18%	31.82%	8.63%	18.65%	-11.59%	-7.93%	5.86%	-24.17%	-29.90%	-43.68%
Expenses -	28.19	25.52	28.35	28.68	29.09	29.86	30.44	28.89	32.66	25.95	22.48	18.60
Material Cost %	34.78%	29.34%	28.69%	30.22%	28.30%	30.77%	31.37%	30.69%	35.93%	30.67%	23.74%	36.81%
Employee Cost %	20.90%	20.91%	17.35%	17.63%	20.58%	18.94%	24.36%	21.61%	22.10%	28.37%	33.13%	36.13%
Operating Profit	4.82	5.90	8.42	8.52	6.77	7.42	2.07	5.36	5.30	2.32	0.31	0.69
OPM %	14.60%	18.78%	22.90%	22.90%	18.88%	19.90%	6.37%	15.65%	13.96%	8.21%	1.36%	3.58%
Other Income	1.45	0.24	2.12	0.26	1.66	0.56	1.62	2.15	2.16	2.51	0.85	1.56
Interest	0.00	0.00	0.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03	0.00
Depreciation	2.50	2.51	2.65	2.51	2.45	2.46	2.41	2.40	2.41	2.07	2.16	2.11
Profit before tax	3.77	3.63	7.74	6.27	5.98	5.52	1.28	5.11	5.05	2.76	-1.03	0.14
Tax %	25.99%	25.62%	26.10%	28.39%	25.42%	25.72%	67.19%	24.66%	14.65%	17.75%	-5.83%	42.86%
Net Profit	2.79	2.70	5.72	4.49	4.46	4.10	0.42	3.85	4.31	2.27	-1.09	0.08
EPS in Rs	13.95	13.50	28.59	22.45	22.28	20.51	2.09	19.25	21.56	11.33	-5.44	0.41
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
Sales -	51	56	82	101	90	96	107	118	130	130	143	123	108
Sales Growth %	-4.96%	9.19%	46.41%	22.39%	-10.76%	6.63%	11.82%	10.48%	9.59%	0.05%	10.25%	-13.70%
Expenses -	39	41	58	74	72	79	88	99	107	106	118	109	100
Material Cost %	32.33%	28.53%	30.61%	31.27%	34.77%	36.09%	33.09%	33.42%	33.46%	31.81%	30.14%	31.01%
Manufacturing Cost %	13.35%	13.60%	15.85%	14.15%	15.52%	15.54%	16.66%	15.82%	16.20%	14.92%	16.77%	16.79%
Employee Cost %	16.55%	17.53%	11.79%	14.46%	16.06%	18.50%	16.99%	17.62%	18.29%	20.03%	20.31%	25.50%
Other Cost %	13.84%	13.37%	12.24%	13.25%	13.40%	12.54%	15.20%	17.06%	14.83%	15.29%	15.11%	15.27%
Operating Profit	12	15	24	27	18	17	19	19	22	23	25	14	9
OPM %	24%	27%	30%	27%	20%	17%	18%	16%	17%	18%	18%	11%	8%
Other Income	3	2	3	2	2	5	7	5	4	4	4	8	7
Interest	0	0	0	0	0	0	0	1	1	1	0	1	0
Depreciation	2	3	3	3	4	5	8	8	10	10	10	9	9
Profit before tax	13	15	24	26	15	16	18	15	16	17	19	12	7
Tax %	32%	32%	32%	32%	34%	28%	16%	31%	25%	26%	29%	21%
Net Profit	9	10	16	17	10	12	15	10	12	12	13	9	6
EPS in Rs	40.80	44.95	75.60	82.40	48.16	55.28	69.24	50.02	56.43	61.48	67.33	46.70	27.86
Dividend Payout %	45%	51%	31%	29%	30%	42%	34%	48%	43%	41%	45%	54%

Compounded Sales Growth

10 Years:: 8.19%
5 Years:: 2.88%
3 Years:: -1.63%
TTM:: -22.58%

Compounded Profit Growth

10 Years:: -1.71%
5 Years:: -11.18%
3 Years:: -10.63%
TTM:: -56.59%

Return on Equity

10 Years:: 14.64%
5 Years:: 12.59%
3 Years:: 12.59%
1 Year:: 60.62%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Share Capital -	2	2	2	2	2	2	2	2	2	2	2	2
Equity Capital	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00
Reserves	42	46	56	68	74	80	88	95	100	107	113	118
Borrowings	0	0	0	0	0	0	0	0	0	0	0	0
Other Liabilities -	45	21	28	31	28	32	32	34	31	37	49	43
Trade Payables	8.05	10.43	12.17	17.12	13.85	15.97	15.43	18.32	12.43	17.43	23.45	20.21
Advance from Customers	0.35	0.43	2.80	1.31	1.80	0.84	1.41	2.80	1.71	2.10	5.56	4.04
Other liability items	36.42	10.61	12.60	12.09	12.56	14.74	14.99	12.96	17.16	16.99	19.70	18.74
Total Liabilities	89	69	86	100	104	114	122	132	134	146	163	163
Fixed Assets -	22	28	31	39	48	52	54	55	59	54	52	51
Gross Block	36	44	50	61	74	83	94	102	114	118	124	132
Accumulated Depreciation	14	17	19	22	26	30	40	47	55	64	72	81
CWIP	5	2	2	5	3	3	2	6	2	2	5	4
Investments	12	17	23	14	15	17	19	14	15	22	36	35
Other Assets -	51	23	30	43	39	42	47	57	58	67	70	72
Inventories	5.22	7.04	10.15	13.63	13.85	15.54	16.44	17.87	18.44	18.76	22.72	26.12
Trade receivables	12.58	11.74	14.96	20.10	19.16	20.21	21.11	29.07	28.72	33.83	27.37	23.19
Cash Equivalents	1.51	1.31	0.99	3.08	0.84	0.60	0.70	0.56	2.67	6.37	9.72	9.70
Loans n Advances	32.20	3.69	3.87	4.48	3.88	4.03	4.78	5.91	5.52	5.75	8.50	8.45
Other asset items	-0.40	-0.51	0.53	1.52	1.50	1.35	3.95	3.91	2.58	2.65	2.15	4.62
Total Assets	89	69	86	100	104	114	122	132	134	146	163	163

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Cash from Operating Activity -	10	12	17	14	13	13	14	9	16	21	29	10
Profit from operations	13.34	16.30	25.51	28.50	18.98	17.21	20.18	19.85	22.52	24.15	26.44	16.11
Receivables	-0.50	0.28	-3.53	-4.58	0.70	-1.30	-1.08	-8.16	0.26	-5.05	5.65	4.49
Inventory	-0.47	-1.82	-3.11	-3.49	-0.21	-1.69	-0.90	-1.43	-0.57	-0.32	-3.96	-3.41
Payables	1.46	2.35	5.40	3.69	-3.27	2.28	-0.53	2.93	-3.81	5.07	6.39	-3.25
Loans Advances	0.42	0.15	-0.33	-1.86	0.34	-0.41	-0.77	-0.00	-0.00	-0.00	-0.00	-0.00
Operating borrowings	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	0.34	-0.00	-0.00	-0.00	-0.00
Other WC items	-0.00	-0.00	-0.00	0.61	0.64	1.13	-0.90	0.38	1.46	1.36	3.31	0.31
Working capital changes	0.91	0.96	-1.57	-5.63	-1.80	0.01	-4.18	-5.95	-2.66	1.06	11.39	-1.85
Direct taxes	-3.87	-5.04	-7.02	-9.24	-4.28	-3.73	-2.39	-4.47	-3.44	-4.34	-8.77	-4.25
Cash from Investing Activity -	-3	-9	-11	-5	-10	-8	-8	-4	-11	-12	-21	-8
Fixed assets purchased	-7.37	-6.48	-6.44	-15.08	-8.97	-9.84	-11.56	-12.76	-10.39	-5.20	-9.14	-11.97
Fixed assets sold	0.01	0.66	0.09	0.01	0.10	0.08	0.01	0.06	0.05	0.04	1.11	0.13
Investments purchased	-32.75	-27.49	-43.62	-60.20	-1.26	-1.29	-1.63	-0.00	-1.11	-7.19	-13.15	-0.00
Investments sold	36.38	22.79	38.15	68.32	-0.00	-0.00	-0.00	5.41	-0.00	-0.00	-0.00	2.09
Investment income	0.79	1.04	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Interest received	0.01	0.01	-0.00	0.01	0.03	0.02	0.05	0.04	0.05	0.01	0.05	0.01
Dividends received	-0.00	-0.00	0.66	1.50	0.51	3.14	5.58	3.19	2.47	2.50	2.49	3.04
Other investing items	-0.00	-0.00	-0.00	-0.00	-0.01	-0.12	-0.02	0.12	-2.01	-2.01	-2.55	-1.35
Cash from Financing Activity -	-7	-3	-6	-6	-6	-6	-6	-6	-6	-6	-7	-3
Proceeds from borrowings	0.08	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Repayment of borrowings	-0.00	-0.36	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Investment subsidy	-0.00	-0.00	-0.00	0.53	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Interest paid fin	-0.00	-0.00	-0.00	-0.11	-0.01	-0.02	-0.08	-0.01	-0.12	-0.06	-0.01	-0.00
Dividends paid	-7.02	-2.34	-5.83	-5.83	-5.81	-5.81	-5.89	-6.01	-6.02	-6.02	-7.06	-3.33
Other financing items	-0.00	-0.25	-0.25	-0.72	0.26	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Net Cash Flow	1	-0	-0	2	-2	-0	0	-1	-1	3	1	-1

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Ratios

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %	29%	32%	45%	41%	21%	21%	21%	17%	16%	16%	17%	9%
Debtor Days	89	76	66	73	78	77	72	90	81	95	70	69
Inventory Turnover	3.59	2.83	3.13	2.83	2.47	2.53	2.39	2.47	2.56	2.38	2.24	1.70

Announcements & News

Recent Announcements

Credit Ratings

Wendt (India) Limited: Ratings reaffirmed; Rated amount enhanced 9 Sep 2019 from icra
Wendt (India) Limited: Rating reaffirmed 24 Sep 2018 from icra
ICRA reaffirms ratings of [ICRA]AA-(Stable)/ [ICRA] A1+ for the bank facilities of Wendt (India) Limited 25 Aug 2017 from icra
Ratings of [ICRA]AA- and [ICRA]A1+ reaffirmed to bank facilities of Wendt (India) Limited, rated amount enhanced 29 Jul 2016 from icra

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