Wendt India Ltd

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

Wendt India Ltd

₹ 14,547 3.19%
02 May 11:10 a.m.
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 ₹ 2,909 Cr.
  • Current Price ₹ 14,547
  • High / Low ₹ 15,990 / 8,237
  • Stock P/E 73.7
  • Book Value ₹ 960
  • Dividend Yield 0.56 %
  • ROCE 29.0 %
  • ROE 21.9 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 23.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 37.7%

Cons

  • Stock is trading at 14.7 times its book value
  • Working capital days have increased from 114 days to 209 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

Standalone Figures in Rs. Crores / View Consolidated

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
41 37 42 37 44 43 48 47 56 46 47 50 66
33 29 31 29 34 32 34 34 39 35 35 37 48
Operating Profit 8 8 11 8 11 11 13 13 16 12 12 13 17
OPM % 19% 23% 25% 22% 25% 25% 28% 28% 30% 26% 26% 25% 26%
2 1 1 3 2 0 1 4 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 8 7 9 9 11 9 13 15 16 12 12 12 17
Tax % 21% 26% 25% 23% 25% 25% 26% 22% 22% 26% 26% 26% 22%
6 5 7 7 8 7 9 11 12 9 9 9 13
EPS in Rs 29.85 26.70 35.15 33.80 39.85 34.70 46.40 57.25 62.25 43.40 42.90 45.75 65.45
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
90 96 107 118 130 130 143 123 121 160 194 209
71 79 88 99 107 106 118 109 101 121 140 155
Operating Profit 18 17 19 19 22 23 25 14 20 39 54 54
OPM % 20% 17% 18% 16% 17% 18% 18% 11% 16% 24% 28% 26%
1 5 7 5 4 4 4 8 6 6 7 7
Interest 0 0 0 1 1 1 0 1 1 1 0 0
Depreciation 4 5 8 8 10 10 10 9 8 8 8 8
Profit before tax 15 16 18 15 16 17 19 12 17 36 52 52
Tax % 34% 28% 16% 31% 25% 26% 29% 21% 22% 25% 24% 25%
10 12 15 10 12 12 13 9 13 27 40 40
EPS in Rs 50.60 59.35 74.25 52.05 58.45 61.50 67.35 46.70 64.55 135.50 200.60 197.50
Dividend Payout % 30% 42% 34% 48% 43% 41% 45% 54% 46% 48% 40% 25%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 20%
TTM: 8%
Compounded Profit Growth
10 Years: 13%
5 Years: 24%
3 Years: 46%
TTM: 0%
Stock Price CAGR
10 Years: 28%
5 Years: 40%
3 Years: 64%
1 Year: 53%
Return on Equity
10 Years: 16%
5 Years: 18%
3 Years: 22%
Last Year: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 74 80 88 95 100 107 113 118 124 142 167 190
0 0 0 0 0 0 0 0 1 1 0 0
28 32 32 34 31 37 49 43 37 39 38 42
Total Liabilities 104 114 122 132 134 146 163 163 164 184 208 234
48 52 54 55 59 54 52 51 54 52 55 57
CWIP 3 3 2 6 2 2 5 4 1 1 2 2
Investments 15 17 19 14 15 22 36 35 37 62 68 71
39 42 47 57 58 67 70 72 72 69 83 104
Total Assets 104 114 122 132 134 146 163 163 164 184 208 234

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
13 13 14 9 16 21 29 10 6 34 31 27
-10 -8 -8 -4 -11 -12 -21 -8 1 -26 -16 -8
-6 -6 -6 -6 -6 -6 -7 -3 -6 -8 -16 -16
Net Cash Flow -2 -0 0 -1 -1 3 1 -1 0 0 -1 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 78 77 72 90 81 95 70 69 99 75 71 90
Inventory Days 162 164 170 165 155 166 193 249 197 186 191 179
Days Payable 162 169 159 169 105 154 199 193 193 156 135 125
Cash Conversion Cycle 78 73 82 86 132 107 64 125 104 105 127 144
Working Capital Days 54 56 62 77 79 71 30 45 81 55 80 209
ROCE % 21% 21% 21% 17% 16% 16% 17% 9% 14% 26% 33%

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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