Industrial Machinery firm Wendt IndiaAnnounced Q1FY23 Result :
Standalone Sales at Rs. 4288 lakhs (Growth of +16% YoY, -2% QoQ)
Standalone PAT Rs. 694 lakhs (Growth of +30% YoY, -13% QoQ)
Consolidated Sales at Rs. 4750 lakhs (Growth of +13% YoY, +0.4% QoQ)
Consolidated PAT Rs. 723 lakhs (Growth of +21% YoY, -3% QoQ)
On a Standalone basis, the Company achieved sales of Rs.4288 lakhs during the Quarter ended 30th June’22, which is 16% higher than the corresponding quarter previous year (YoY). The domestic sales was Rs 3184 lakhs during the quarter ended 30th June’22, which is higher by 17% than the corresponding quarter previous year. This is on account of higher sales to almost all user industries like auto, steel, refractories, glass, bearings, blade, ceramics, etc.
Exports was Rs.1105 lakhs during the quarter ended 30th June’22, which is higher by 14% over the corresponding quarter previous year. This is on account of higher exports to USA, Germany, Italy, Spain etc
The company’s operational efficiency measures like elimination of wastes and rejection, improving productivity, developing alternate vendors towards supply chain disruption, and focus on cost control has led to growth in the profitability. Accordingly, the Profit After Tax (PAT) for the current quarter is Rs. 694 lakhs, which is higher by 30% over the corresponding quarter previous year (YoY).
On a Sequential basis (QoQ), the standalone sales for the quarter ended 30th June’22 is lower by 2% with PAT lower by 13% against Quarter ended 31st March’22 of the previous year.
Please find enclosed herewith the Certificates received from M/s. KFin Technologies Limited, the Registrar and Share Transfer Agent of the Company for the period from 1st April 2022 to 30st June 2022. This report is submitted in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. Request you to kindly take the same on record.
WENDT (INDIA) LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 22/07/2022 ,inter alia, to consider and approve Wendt (India) Limited has informed the Exchange about Board Meeting to be held on 22nd July 2022 to inter alia consider and approve the unaudited financial results for the quarter ended 30th June 2022.