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Consolidated Standalone

Wendt India

₹14105 1070.5 | 8.2%

Market Cap ₹2821 Cr.

Stock P/E 68.9

P/B 13.3

Current Price ₹14105

Book Value ₹ 1060.6

Face Value 10

52W High ₹15900

Dividend Yield 0.35%

52W Low ₹ 8237.4

Edit Ratio

Wendt India Research see more...

Overview Inc. Year: 1980Industry: Abrasives

Wendt (India) Ltd is a manufacturer of super abrasives, grinding, honing and special purpose machines and additives. It operates through the Machines, Accessories, Super Abrasives; and Components, and Others segments. The Company makes a speciality of super abrasives, non-super abrasives and global business. The super abrasive enterprise consists of Diamond/ cubic boron nitride (CBN) grinding wheels in numerous bonding structures, hones, dressing rolls, segmented merchandise and stationary dressers. The Company also offers products, which consist of Vitrified Products for auto aspect, dressing rolls for bearing and certain different automobile programs, electroplated merchandise for engineering and tools and brazed diamond merchandise for paint industry. The Company's subsidiaries include Wendt Grinding Technologies Ltd and Wendt Middle East FZE. The Company's production plant is positioned at Hosur, Tamil Nadu.

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Wendt India Share Price

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Peer Comparison

Wendt India Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 41 48 48 52 51 59 51 51 55 70
Other Income 1 1 1 1 2 2 2 2 2 2
Total Income 42 49 48 53 53 61 53 53 56 72
Total Expenditure 32 36 36 38 38 42 39 39 41 53
Operating Profit 10 12 12 15 15 19 14 14 15 19
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 2 2 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 8 10 10 13 13 16 12 12 13 17
Provision for Tax 2 3 2 3 3 4 3 3 3 4
Profit After Tax 6 7 7 10 10 13 9 9 10 13
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 6 7 7 10 10 13 9 9 10 13
Adjusted Earnings Per Share 27.8 37.4 36.2 50 50.4 64 45.1 44.8 48 66.9

Wendt India Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 101 110 124 135 146 147 165 143 137 179 210 227
Other Income 2 2 2 2 2 3 3 5 4 4 5 8
Total Income 103 112 126 137 148 149 167 148 141 183 215 234
Total Expenditure 79 90 100 112 121 120 135 124 114 137 154 172
Operating Profit 24 22 26 25 27 29 33 24 27 46 62 62
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 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 19 17 17 16 17 18 22 14 17 37 53 54
Provision for Tax 6 5 3 5 5 5 7 4 4 10 13 13
Profit After Tax 13 12 14 11 12 13 15 10 13 27 40 41
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 13 12 14 11 12 13 15 10 13 27 40 41
Adjusted Earnings Per Share 64.3 58.3 67.7 53.9 60.3 65.6 77.1 50.1 63.8 135.3 200.4 204.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 17% 14% 7% 8%
Operating Profit CAGR 35% 37% 16% 10%
PAT CAGR 48% 59% 25% 12%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 52% 62% 40% 28%
ROE Average 23% 17% 14% 13%
ROCE Average 30% 22% 19% 19%

Wendt India Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 86 92 100 107 112 122 130 138 143 162 189
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 5 7 9 7 8 4 3 2 2 1 2
Total Current Liabilities 25 28 27 30 25 34 47 43 40 41 38
Total Liabilities 117 127 135 144 145 160 180 183 185 204 229
Fixed Assets 50 55 57 58 61 57 55 54 56 54 56
Other Non-Current Assets 5 5 7 10 5 5 8 10 9 6 4
Total Current Assets 62 67 71 76 78 98 117 118 120 144 168
Total Assets 117 127 135 144 145 160 180 183 185 204 229

Wendt India Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 9 8 6 4 4 4 8 11 14 14 13
Cash Flow from Operating Activities 15 17 17 11 18 23 33 16 8 37 33
Cash Flow from Investing Activities -12 -13 -14 -5 -13 -15 -24 -12 -1 -30 -18
Cash Flow from Financing Activities -6 -6 -6 -6 -6 -6 -7 -3 -6 -8 -16
Net Cash Inflow / Outflow -2 -2 -3 1 -0 2 2 1 1 -1 -1
Closing Cash & Cash Equivalent 8 6 4 4 4 8 11 14 14 13 13

Wendt India Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 64.3 58.31 67.7 53.88 60.26 65.62 77.07 50.13 63.83 135.33 200.44
CEPS(Rs) 87.99 84.23 109.2 97.4 110.23 117.77 128.46 97.59 108.48 178.38 241
DPS(Rs) 15 25 25 25 25 25 30 25 30 65 80
Book NAV/Share(Rs) 432.11 460.73 497.93 534.93 561.58 608.12 651.29 688.38 716.91 809.79 943.54
Core EBITDA Margin(%) 20.24 17.38 17.82 15.64 16.2 17.95 18.23 13.34 16.45 23.52 26.86
EBIT Margin(%) 17.55 14.6 13.04 11.32 10.99 12.72 13.58 10.12 12.94 20.99 25.44
Pre Tax Margin(%) 17.16 14.19 12.71 10.94 10.52 12.11 13.32 9.5 12.45 20.64 25.22
PAT Margin (%) 11.77 9.88 10.21 7.46 7.65 8.81 9.37 7 9.34 15.14 19.07
Cash Profit Margin (%) 16.11 14.27 16.47 13.49 14 15.81 15.61 13.63 15.88 19.95 22.93
ROA(%) 11.39 9.55 10.33 7.74 8.35 8.61 9.07 5.53 6.94 13.92 18.54
ROE(%) 15.86 13.06 14.12 10.43 10.99 11.22 12.24 7.48 9.08 17.73 22.86
ROCE(%) 23.61 19.27 18.05 15.83 15.79 16.19 17.75 10.82 12.54 24.43 30.42
Receivable days 67.95 64.9 61.7 68.98 71.99 82.47 74.4 71.75 83.17 72.25 64.82
Inventory Days 49.19 50.14 50.07 49.52 47.88 51.68 51.08 67.05 70.54 54.22 54.12
Payable days 172.19 150.86 149.48 142.93 120.33 120.22 146.02 171.91 170.05 140.45 119.54
PER(x) 17.14 19.26 25.14 32.29 31.53 37.09 39.71 34.88 49.54 36.91 42.15
Price/Book(x) 2.55 2.44 3.42 3.25 3.38 4 4.7 2.54 4.41 6.17 8.95
Dividend Yield(%) 1.36 2.23 1.47 1.44 1.32 1.03 0.98 1.43 0.95 1.3 0.95
EV/Net Sales(x) 2.1 1.99 2.71 2.55 2.55 3.24 3.61 2.29 4.53 5.52 7.97
EV/Core EBITDA(x) 8.89 9.75 13.13 13.7 13.66 16.16 18.21 13.67 23.25 21.38 27.21
Net Sales Growth(%) -8.91 8.82 12.68 8.66 8.41 0.37 12.18 -12.96 -4.62 30.88 17.57
EBIT Growth(%) -33.78 -10.12 0.42 -5.48 5.84 9.43 18 -35.13 21.93 112.35 42.5
PAT Growth(%) -33.91 -9.32 16.11 -20.41 11.82 8.9 17.44 -34.96 27.33 112.03 48.11
EPS Growth(%) -33.91 -9.32 16.11 -20.41 11.82 8.9 17.44 -34.96 27.33 112.03 48.11
Debt/Equity(x) 0 0 0 0 0 0 0 0 0.01 0.01 0
Current Ratio(x) 2.46 2.43 2.64 2.54 3.12 2.84 2.51 2.73 3 3.56 4.4
Quick Ratio(x) 1.87 1.83 1.95 1.89 2.41 2.22 1.97 2.09 2.38 2.86 3.51
Interest Cover(x) 44.64 35.58 38.86 29.31 23.39 21.03 52.52 16.35 26.21 59.37 112.22
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Wendt India Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 75 75 75 75 75 75 75 75 75 75
FII 0.04 0 0.02 0.04 0.01 0.01 0.03 0.01 0.02 0.05
DII 6.68 6.68 6.89 6.71 6.73 6.79 6.86 6.82 6.83 6.79
Public 18.28 18.32 18.09 18.25 18.26 18.19 18.11 18.17 18.16 18.17
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 25% CAGR over last 5 years
  • Debtor days have improved from 140.45 to 119.54days.
  • Company is almost debt free.

Cons

  • Stock is trading at 13.3 times its book value.

* 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.

Wendt India News

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