Wendt India Ltd

Wendt India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Wendt India Ltd

₹ 12,945 -1.04%
29 Apr - close price
wendtindia.com BSE: 505412 NSE : WENDT
About

Wendt India is a leading manufacturer of Super Abrasives, Machining Tools, and Precision Components. It is a preferred supplier for many of the automobile, auto component, engineering, aerospace, defense ceramics customers for their Super Abrasive Tooling solutions, Grinding & Honing Machines, and Precision components. [1] [2]

The company is JV between 3M (via Wendt GmbH) and Carborundum Universal (Murugappa Group). Both the companies hold 37.5% shares in the company. [3] [4]

Key Points

Customers
The co. gets ~30% of its revenue from automotive companies. [1] The co. has 750+ direct customers in the domestic market. [2] It supplies to industries including automobile, auto components, engineering, aerospace, and defense ceramics. [3]

Website BSE NSE
  • Market Cap ₹ 2,570 Cr.
  • Current Price ₹ 12,945
  • High / Low ₹ 15,990 / 8,237
  • Stock P/E 62.8
  • Book Value ₹ 1,061
  • Dividend Yield 0.62 %
  • ROCE 27.0 %
  • ROE 20.4 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 21.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 37.4%

Cons

  • Stock is trading at 12.2 times its book value
  • Working capital days have increased from 112 days to 203 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Abrasives And Grinding Wheels

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
46 42 47 41 48 48 52 51 59 51 51 54 70
37 33 36 32 36 36 38 38 42 39 39 41 53
Operating Profit 9 9 12 9 11 11 14 14 17 12 12 13 18
OPM % 19% 22% 25% 22% 24% 24% 27% 27% 29% 24% 24% 24% 25%
1 1 1 1 1 1 1 2 2 2 2 2 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 7 8 11 8 10 10 13 13 16 12 12 13 17
Tax % 24% 26% 25% 29% 27% 25% 25% 25% 22% 26% 25% 26% 22%
5 6 8 6 7 7 10 10 13 9 9 10 13
EPS in Rs 26.50 30.00 40.20 27.80 37.35 36.15 50.00 50.35 63.95 45.10 44.75 48.00 66.90
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
101 110 124 135 146 147 165 143 137 179 210 227
79 89 100 112 120 120 134 124 114 136 154 171
Operating Profit 22 21 24 23 26 27 30 19 23 42 57 56
OPM % 22% 19% 19% 17% 18% 18% 18% 13% 17% 24% 27% 25%
2 2 2 2 2 3 2 5 4 4 5 7
Interest 0 0 0 1 1 1 0 1 1 1 0 0
Depreciation 5 5 8 9 10 10 10 9 9 9 8 9
Profit before tax 19 17 17 16 17 18 22 14 17 37 53 54
Tax % 31% 30% 20% 32% 27% 27% 30% 26% 25% 27% 24% 24%
13 12 14 11 12 13 15 10 13 27 40 41
EPS in Rs 64.30 58.30 67.70 53.90 60.25 65.60 77.05 50.15 63.85 135.35 200.45 204.75
Dividend Payout % 23% 43% 37% 46% 41% 38% 39% 50% 47% 48% 40% 24%
Compounded Sales Growth
10 Years: 8%
5 Years: 7%
3 Years: 18%
TTM: 8%
Compounded Profit Growth
10 Years: 13%
5 Years: 21%
3 Years: 53%
TTM: 8%
Stock Price CAGR
10 Years: 27%
5 Years: 37%
3 Years: 59%
1 Year: 40%
Return on Equity
10 Years: 14%
5 Years: 16%
3 Years: 20%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 2 2 2 2 2 2 2 2 2 2 2 2
Reserves 84 90 98 105 110 120 128 136 141 160 187 210
0 0 0 0 0 0 0 0 1 1 0 0
30 35 35 37 33 38 50 45 41 41 40 44
Total Liabilities 117 127 135 144 145 160 180 183 185 204 229 256
50 55 57 58 61 57 55 54 56 54 56 58
CWIP 3 3 2 6 2 2 5 4 1 1 2 2
Investments 15 19 21 14 15 22 36 36 37 64 71 73
49 51 55 66 67 79 84 89 90 85 100 122
Total Assets 117 127 135 144 145 160 180 183 185 204 229 256

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
15 17 17 11 18 24 33 16 8 37 33 30
-11 -13 -12 -5 -13 -13 -22 -10 -2 -30 -17 -8
-6 -6 -6 -6 -6 -6 -7 -3 -6 -8 -16 -16
Net Cash Flow -1 -2 -2 0 -0 4 3 3 1 -1 -0 5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 73 72 68 85 77 91 68 66 97 70 70 86
Inventory Days 150 156 154 152 145 153 165 207 181 165 175 160
Days Payable 156 166 144 154 97 139 163 162 181 135 121 112
Cash Conversion Cycle 68 61 77 83 124 105 70 111 97 100 124 134
Working Capital Days 48 49 56 74 79 71 35 44 78 54 79 203
ROCE % 24% 19% 18% 16% 16% 16% 18% 10% 11% 23% 29%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
0.00% 0.00% 0.04% 0.00% 0.02% 0.04% 0.01% 0.01% 0.03% 0.01% 0.02% 0.05%
3.18% 6.68% 6.68% 6.68% 6.89% 6.71% 6.72% 6.79% 6.86% 6.82% 6.82% 6.78%
21.82% 18.32% 18.28% 18.32% 18.09% 18.25% 18.26% 18.20% 18.10% 18.17% 18.15% 18.17%
No. of Shareholders 6,3227,2266,9926,9287,7828,0637,9937,9497,9678,8159,2169,323

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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