Small cap stock declares ₹30 per share dividend. Check record date here

The company has said in a stock exchange filing that “In line with the good performance, the Board of Directors are pleased to declare an interim dividend of Rs. 30 /- per share ( 300 % on face value of equity shares of ₹10/- each.).”

“The Record Date for determining the members eligible to receive interim dividend is Tuesday, 31st January 2023. In the case of shareholders opting for NECS/ECS, the dividend would in the normal course be credited to their accounts by Tuesday, 14th February 2023. In the case of shareholders opting physical mode of payment, the same will be dispatched by Tuesday, 14th February 2023,” informed Wendt to stock exchanges.

Standalone sales for the company were Rs. 4691 lakhs for the quarter that ended on December 2022, which is a growth of 30% YoY over the same quarter last year. In Q3FY23, domestic sales totalled ₹3470 lakhs, a 24% growth over Q3FY22. For the nine months that concluded on December 31, 2022, the company generated total sales of Rs. 13710 lakhs, a 20% growth over the same period the previous year, and PAT of Rs. 2767 lakhs, a 45% jump over the same period.

Compared to the same quarter last year, the current quarter’s Profit After Tax (PAT) is Rs. 1145 lakhs on a standalone basis, a growth of 69%. (YoY). The company said the increase in profit is majorly due to higher sales and continued focus on operational efficiency measures and cost control. The quarter that concluded in December 2022 saw exports of Rs. 1221 lakhs, a 47% growth over the same period in the previous year. Wendt said this is on account of higher offtake from countries like US, Russia, Indonesia, United Kingdom, Spain etc.

Consolidated sales for the company were Rs. 5084 lakhs for the third quarter of FY23, up 25% YoY from the third quarter of FY22. PAT for the quarter was Rs. 1007 lakhs, up 81% from the same quarter in FY22.

Wendt (India) also has announced that it has signed a partnership agreement with Lithoz GmbH world leader in ceramic 3D printers and materials. Wendt (India) said the partnership has been signed to accelerate business in the Indian 3D Printing Market and the partnership will be inaugurated by the CeraFab System S65’s premiere with a live printing demo at IMTEX (19-25 Jan), India’s major event for the metal cutting industry.

Dr. Johannes Homa, Lithoz CEO, about the new partnership said “To successfully enter an important market like India, we are fully aware of the importance of choosing the best sales partner. We are very happy and excited to be working with the Wendt / Murugappa group in India and look forward to implementing their vast experience and business network in the field of machinery and precision components into our own work. As two market leaders joining forces, we are fully convinced that by uniting our expertise we will make fast progress in establishing ceramic 3D printing as an alternative production technology, strongly adding value in both fields.”

On the NSE, the shares of Wendt (India) closed on Friday at ₹8,300.00 apiece level, up by 1.99% from the previous close of ₹8,138.30.