Wendt (India) (505412) Q4 01/02 earnings summary

Executive summary

• FY 2001-02 sales grew 9% to Rs. 2,272.34 lakh and PBT rose 10% to Rs. 497.73 lakh, despite economic slowdown and strong pricing pressure.

• Export sales increased 47% to Rs. 611.08 lakh; growth was supported by new products, market expansion, process improvements and waste reduction.

Financial highlights

• Sales, including machining charges, were Rs. 2,272.34 lakh versus Rs. 2,078.18 lakh in FY 2000-01; other income was Rs. 56.09 lakh.

• PBT was Rs. 497.73 lakh versus Rs. 450.64 lakh; PAT was Rs. 355.55 lakh after current tax of Rs. 129 lakh and deferred tax of Rs. 13.18 lakh.

• EPS was Rs. 35.56; the balance sheet abstract lists a 125% dividend rate, while the AGM notice put dividend declaration to members for approval.

Segment performance

• Diamond/CBN grinding wheels and tools generated Rs. 2,199.51 lakh in revenue and Rs. 419.94 lakh in segment results; Others generated Rs. 72.83 lakh and Rs. 23.56 lakh, respectively.

• India accounted for Rs. 1,661.26 lakh of revenue, Europe Rs. 167.96 lakh, America Rs. 36.81 lakh, and Australia/Asia-Pacific Rs. 406.31 lakh.