Wendt (India) (505412) Q4 00/01 earnings summary

Executive summary

• FY01 sales, including machining charges, rose 17% to Rs. 2,078.18 lakh; exports grew 59% to Rs. 415.31 lakh, while PBT increased 6% to Rs. 450.64 lakh.

• Export investment, new manufacturing capabilities and product launches supported growth amid a slowing domestic market.

Financial highlights

• Sales including machining charges were Rs. 2,078.18 lakh versus Rs. 1,770.46 lakh in FY00; other income was Rs. 41.07 lakh versus Rs. 69.14 lakh.

• PBT rose to Rs. 450.64 lakh from Rs. 423.29 lakh; tax provision was Rs. 128.00 lakh and PAT was Rs. 322.64 lakh versus Rs. 308.29 lakh.

• Exports increased to Rs. 415.31 lakh from Rs. 260.75 lakh; export incentives were Rs. 0.07 lakh versus Rs. 16.10 lakh.

Outlook and guidance

• Management expected exports to grow substantially and compensate for domestic-market fluctuations.

• A new facility for special aluminium alloy castings was being developed for export and local demand; software and IT-related activities were proposed for group entities and other customers.