Wendt India Ltd is a market leader in super abrasives and high-precision grinding solutions. Established in 1980, it was initially a joint venture between Wendt GmbH and The House of Khataus. The company currently operates as a joint venture between 3M (via Wendt GmbH) and Carborundum Universal (Murugappa Group), with both companies holding 37.5% shares each, bringing the total promoter holding to 75.0%.
The company initially faced losses but achieved profitability under new management when Carborundum Universal (part of the Murugappa group) took over with a 40% stake from the collaborators in 1990.
Wendt India is a leading manufacturer of Super Abrasives, Machining Tools, and Precision Components. The company is a preferred supplier for numerous customers in the automobile, auto component, engineering, aerospace, defense, and ceramics sectors, providing Super Abrasive Tooling solutions, Grinding & Honing Machines, and Precision components.
The company operates through three primary segments:
* Super Abrasives: Offers products like resin and metal bonds, quantapol hybrid wheels, vitrified bonds, electroplated bonds, rotary diamond dressers, dressing blocks, hones, stationary diamond dressers, PCD wear parts, brazed products, fine grinding wheels, and diamond segments and pellets.
* Machines and Accessories: Specialises in grinding and honing machines.
* Precision Products: Encompasses various high-precision components.
Wendt India Ltd is listed and trades on the National Stock Exchange (NSE) under the symbol WENDT. As per Value Research classification, it is categorised as a Small Cap company.
Wendt India Ltd had a market capitalisation of ₹1,687 crore as of May 22, 2025. The company's 52-week high share price was ₹18,000.00, and its 52-week low share price was ₹8,174.40.
The company has demonstrated mixed financial performance in recent quarters and years.
For the fourth quarter of the fiscal year 2025 (Q4 FY2024-25):
* Total income was ₹71.89 crores, marking a 30.0% increase quarter-over-quarter (QoQ) from ₹55.32 crores in Q3 FY2024-25 and an 18.5% year-over-year (YoY) increase from ₹60.66 crores in Q4 FY2023-24.
* Profit Before Tax (PBT) reached ₹17.09 crores, a 60.9% increase QoQ from ₹10.62 crores in Q3 FY2024-25 and a 3.8% YoY increase from ₹16.47 crores in Q4 FY2023-24.
* Profit After Tax (PAT) stood at ₹13.38 crores, after accounting for taxes of ₹3.71 crores.
* On a consolidated basis, net profit fell 3.66% to ₹12.89 crore, while net sales rose 7.87% to ₹74.94 crore over Q4 FY2023-24.
* For the year ended 2024, Wendt India Ltd posted a profit of ₹40.95 crore on a total income of ₹226.83 crore.
* Market Capitalization: ₹1,687 crore (as of May 22, 2025)
* Promoter Holding: 75.0% (as of March 2025)
* P/B Ratio: 6.92 times (as of May 22, 2025), a 14% premium to peers' median.
* P/E Ratio: 42.74 times (as of May 22, 2025), a 20% discount to peers' median.
* Debt Position: Almost debt-free.
* Dividend Payout: Healthy dividend payout of 29.9%.
The promoter holding in Wendt India Ltd has remained stable at 75.00% as of March 2025, compared to June 2024. Price Waterhouse Chartered Accountants LLP serves as the auditor. Shrinivas G Shirgurkar is the Chairman, and Pandirurai Arjun Raj is the Company Secretary.
* Dividend: Wendt (India) announced a final dividend of ₹20 per share (200%) for FY 2024-25, subject to shareholder approval. The total dividend for the year amounts to ₹50 per share (500%). The record date for the dividend is set for July 14, 2025.
* Offer for Sale (OFS): In May 2025, German promoter Wendt GmbH conducted an Offer For Sale, divesting 7.5 lakh equity shares (representing 37.5% of paid-up equity capital). The base offer was for 6 lakh shares (30% stake), with an oversubscription option for 1.5 lakh shares (7.5%). The floor price was set at ₹6,500 per share, a 37.90% discount to the stock's closing price on May 14, 2025.
Wendt India has incorporated a 100% owned German subsidiary, Wendt GmbH, with a capital of 0.55 million Euro. The company anticipates completing the incorporation process within the next three months, with the total investment in the subsidiary expected to be completed within two years. This acquisition is not categorised as a related party transaction.
The company continues its strategic focus on expanding its market presence in the super abrasives sector. It aims to maintain its strong position as a preferred supplier to key industrial segments, including automotive, aerospace, and engineering industries, leveraging its expertise in high-precision grinding solutions.
