Wendt (India) Limited (WENDT)

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Wendt (India) Limited (WENDT) · mywealthgrid

About

Wendt (India) Limited manufactures abrasives and bearings in the industrials sector, with a market cap of ₹1,586.4 Cr. The elevated PE of 93.59 relative to ROE of 5.85%, combined with a 1-year negative return of -18.85%, suggests the market is skeptical of the company's operational efficiency and valuation.

Face value: ₹10

Market cap

₹1,623 Cr

P/E

95.8×

P/B

6.4×

Dividend yield

0.4%

ROE

5.8%

ROCE

9.1%

Debt / equity

OPM

13.6%

EPS (TTM)

₹84.8

Book value

₹1,269.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation stretched: PE 93.59 with ROE 5.85% implies the market has priced in growth that hasn't yet materialized.

Operational volatility: OPM ranges from 11.81% to 22.32% across recent quarters; verify whether this reflects structural constraints or temporary factors, and whether margin levels are sustainable.

Negative momentum: 1-year return of -18.85% reflects market skepticism; clarify what triggered the decline and whether underlying business fundamentals remain intact.

Cyclical sensitivity: Revenue between ₹50–71 Cr per quarter suggests exposure to industrial capex cycles; verify company's resilience if industrial investment slows.

Generated analysis · source review pending

Growth drivers

Zero debt (D/E 0) provides financial capacity to invest; verify if company has capex or acquisition plans

Regular dividends (2026-07, 2026-01, 2025-07, 2025-01, 2024-07) demonstrate cash generation; low ROE (5.85%) suggests opportunity to redeploy capital more efficiently

OPM volatility across recent quarters (11.81%–22.32%) indicates margin expansion potential if operational execution stabilizes

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹8,116.0-3.3%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 761.7×
+Dividend payout of 35.4% of profit

Cons

−Expensive at 95.8× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 49
Growth: 54
Valuation: 13

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	144	157	149	165	141	137	179	210	227	234	236
COGS	49	54	51	55	49	50	63	71	82	84	88
Gross profit	95	103	98	110	92	86	116	139	145	149	148
	73	78	72	80	76	64	75	83	89	97	116
	22	25	26	30	16	22	42	56	56	53	32
OPM %	15.3%	15.9%	17.5%	18.1%	11.2%	16.1%	23.3%	26.7%	24.5%	22.5%	13.6%
Depreciation	9	10	10	10	9	9	9	8	9	10	15
Interest	0	0	0	0	0	0	0	0	0	0	0
	2	2	3	2	7	4	4	5	7	9	6
Profit before tax	16	17	18	22	14	17	37	53	54	51	23
Tax	5	5	5	7	4	4	10	13	13	12	8
Tax %	31.8%	27.3%	27.3%	29.7%	26.3%	24.9%	26.7%	24.4%	24.5%	22.9%	36.2%
	11	12	13	15	10	13	27	40	41	39	15
PAT margin %	7.5%	7.7%	8.8%	9.4%	7.1%	9.4%	15.1%	19.1%	18.1%	16.9%	6.2%
EPS (₹)	53.9	60.3	65.6	77.1	50.1	63.8	135.3	200.5	204.8	197.4	72.8
EPS adjusted (₹)	—	—	—	—	50.2	63.9	135.4	200.5	204.8	197.4	72.8
	46.4%	41.5%	38.1%	38.9%	49.9%	47%	48%	39.9%	24.4%	25.3%	41.2%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	—	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	2	2	2	2	2	2	2
Reserves	—	141	160	187	210	242	252
	—	1	1	0	0	1	0
	—	41	41	40	44	56	52
Total equity & liabilities	—	185	204	229	256	301	306
	54	56	54	56	58	100	106
CWIP	—	1	1	2	2	10	3
Investments	—	37	64	71	73	52	47
	—	90	85	100	122	139	149
Total assets	—	185	204	229	256	301	306

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Super Abrasives	148.85	28.4	126.42	0	126.42	22.46
Machines and Accessories	33.85	-13.6

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	66.8%	65.1%	63.3%	65%	66.1%	63.8%	63.9%	62.8%
EBITDA margin %	18.1%	11.2%	16.1%	23.3%	26.7%	24.5%	22.5%	13.6%
EBIT margin %	11.9%	4.4%	9.6%	18.5%	22.9%	20.8%	18.2%	7.3%
PAT margin %	9.4%	7.1%	9.4%	15.1%	19.1%	18.1%	16.9%	6.2%
Working capital
Receivable days	—	—	97	70	70	86	107	84
Inventory days	—	—	181	165	175	160	162	220
Payable days	—	—	181	135	121	112	134	136
NWC days	—	—	97	100	124	134	135	168
Leverage
Current ratio	—	—	3	3.56	4.4	4.47	3.35	3.88
Debt to EBITDA	—	—	0.05	0.02	0	0	0.02	0
Debt to equity	—	—	0.01	0.01	0	0	0	0
Interest coverage	—	454.7	567.7	1,846.5	2,652	—	1,025.6	761.7
Asset turnover	—	—	0.74	0.88	0.92	0.89	0.78	0.77
Return ratios
Return on assets %	—	—	6.9%	13.3%	17.5%	16%	13.1%	4.8%
Return on capital employed %	—	—	11.8%	24%	30%	26.8%	22.3%	9.1%
Return on equity %	—	—	8.9%	16.7%	21.2%	19.3%	16.2%	5.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	37.5%	37.5%	37.5%	37.5%	37.5%
	0.01%	0.02%	0.05%	0.04%	0.04%	0.04%	0.09%	2.34%	1.81%	1.12%	1%	1.16%
	6.82%	6.83%	6.79%	6.79%	6.73%	6.73%	6.71%	9.17%	9.64%	9.83%	12.76%	11.97%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	18.17%	18.15%	18.16%	18.17%	18.23%	18.23%	18.2%	50.99%	51.05%	51.55%	48.74%	49.37%
No. of shareholders	—	—	—	—	—	—	—	—	27,578	28,999	26,654	26,857

Promoter holding down 37.5 percentage points since Sep 2023.

33 deals · 15 May 2025 – 24 Jul 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Jul 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	10,842	₹10,003.00	₹10.85 Cr
24 Jul 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	10,358	₹9,949.78	₹10.31 Cr
24 Jul 2025	SHRIPAL V VORA (HUF)	Bulk	NSE	Sell	10,090	₹10,008.51	₹10.10 Cr
24 Jul 2025	SHRIPAL V VORA (HUF)	Bulk	NSE	Buy	100	₹10,500.00	₹0.11 Cr
21 Jul 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	27,114	₹11,801.37	₹32.00 Cr
21 Jul 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	25,611	₹11,856.16	₹30.36 Cr
21 Jul 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	16,893	₹11,393.71	₹19.25 Cr
21 Jul 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	16,893	₹11,386.55	₹19.24 Cr
21 Jul 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	16,773	₹11,882.14	₹19.93 Cr
21 Jul 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	16,773	₹11,877.02	₹19.92 Cr

1–10 of 33

1 / 4

Mr. Bhagya Chandra RaoNon-Executive - Independent Director-Chairperson
Mukesh Kumar HamirwasiaChief Financial Officer
Ms. Hima Srinvias CherlaNon-Executive - Independent Director
Mr. Murugappa Venkatachalam MuthiahNon-Executive - Non Independent Director
Mr. Lakshminarayanan RamkumarNon-Executive - Independent Director
Mr. Sridharan RangarajanNon-Executive - Non Independent Director
Mr. Amit Ashok IngaleExecutive Director-CEO
Mr. Arjun Raj PCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

8.32%

of the company's equity

All mutual funds

10.94%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
Contra Fund	SBI Mutual Fund	1.66 L	135.93	0.29%	8.318%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

33

Final dividend17 Jul 2026 · ex-date₹10
Interim dividend28 Jan 2026 · ex-date₹20
Final dividend14 Jul 2025 · ex-date₹20
Interim dividend28 Jan 2025 · ex-date₹30
Final dividend12 Jul 2024 · ex-date₹20
Interim dividend1 Feb 2024 · ex-date₹30
Final dividend13 Jul 2023 · ex-date₹50
Interim dividend31 Jan 2023 · ex-date₹30
Final dividend13 Jul 2022 · ex-date₹45
Interim dividend2 Feb 2022 · ex-date₹20
Final dividend14 Jul 2021 · ex-date₹20
Interim dividend3 Feb 2021 · ex-date₹10
Final dividend15 Jul 2020 · ex-date₹25
Final dividend11 Jul 2019 · ex-date₹15
Interim dividend31 Jan 2019 · ex-date₹15
Dividend dividend12 Jul 2018 · ex-date₹15
Interim dividend7 Feb 2018 · ex-date₹10
Dividend dividend12 Jul 2017 · ex-date₹15
Interim dividend7 Feb 2017 · ex-date₹10
Final dividend14 Jul 2016 · ex-date₹15
Interim dividend9 Feb 2016 · ex-date₹10
Final dividend9 Jul 2015 · ex-date₹15
Interim dividend11 Feb 2015 · ex-date₹10
Final dividend17 Jul 2014 · ex-date₹15
Interim dividend3 Feb 2014 · ex-date₹10
Dividend dividend18 Jul 2013 · ex-date₹15
Dividend dividend5 Jul 2012 · ex-date₹25
Dividend dividend20 Jul 2011 · ex-date₹25
Dividend dividend20 Jul 2010 · ex-date₹25
Dividend dividend14 Jul 2009 · ex-date₹10
Interim dividend25 Mar 2009 · ex-date₹10
Dividend dividend8 Jul 2008 · ex-date₹20
Dividend dividend6 Jul 2007 · ex-date₹17.5

1

Board meeting to consider results24 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

16 announcementsExport CSV

11 Sept 2026, 12:49 pmCompany Update

Clarification Pertaining To Volume Movement

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	66.8%	65.1%	63.3%	65%	66.1%	63.8%	63.9%	62.8%
EBITDA margin %	18.1%	11.2%	16.1%	23.3%	26.7%	24.5%	22.5%	13.6%
EBIT margin %	11.9%	4.4%	9.6%	18.5%	22.9%	20.8%	18.2%	7.3%
PAT margin %	9.4%	7.1%	9.4%	15.1%	19.1%	18.1%	16.9%	6.2%
Working capital
Receivable days	—	—	97	70	70	86	107	84
Inventory days	—	—	181	165	175	160	162	220
Payable days	—	—	181	135	121	112	134	136
NWC days	—	—	97	100	124	134	135	168
Leverage
Current ratio	—	—	3	3.56	4.4	4.47	3.35	3.88
Debt to EBITDA	—	—	0.05	0.02	0	0	0.02	0
Debt to equity	—	—	0.01	0.01	0	0	0	0
Interest coverage	—	454.7	567.7	1,846.5	2,652	—	1,025.6	761.7
Asset turnover	—	—	0.74	0.88	0.92	0.89	0.78	0.77
Return ratios
Return on assets %	—	—	6.9%	13.3%	17.5%	16%	13.1%	4.8%
Return on capital employed %	—	—	11.8%	24%	30%	26.8%	22.3%	9.1%
Return on equity %	—	—	8.9%	16.7%	21.2%	19.3%	16.2%	5.7%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Carborundum Universal LimitedCARBORUNIVCARBORUNIV	₹23,616 Cr	₹23,921 Cr	₹5,414 Cr	₹593 Cr	11.1%	₹209 Cr	3.2%	9.9%	5.2%	187
Timken India LimitedTIMKENTIMKEN	₹23,303 Cr	₹23,303 Cr	₹3,478 Cr	₹632 Cr	18.2%	₹415 Cr	11.9%	18.6%	14.3%	116
Grindwell Norton LimitedGRINDWELLGRINDWELL	₹21,872 Cr	₹21,933 Cr	₹3,173 Cr	₹601 Cr	18.7%	₹436 Cr	13.6%	22.1%	17.4%	39
Skf India (Industrial) LimitedSKFINDUSSKFINDUS	₹13,507 Cr	₹13,507 Cr	₹3,440 Cr	₹390 Cr	11.3%	₹218 Cr	6.3%	29.7%	15.6%	56
Wendt (India) LimitedWENDTWENDT	₹1,623 Cr	₹1,623 Cr	₹255 Cr	₹36 Cr	13.6%	₹17 Cr	6.2%	9.1%	5.8%	168
Galaxy Bearings LtdGALXBRGGALXBRG	₹310 Cr	₹328 Cr	₹63 Cr	₹12 Cr	9.5%	₹8 Cr	4.9%	6.2%	3.1%	371
Nrb Industrial Bearings LimitedNIBLNIBL	₹76 Cr	₹212 Cr	₹76 Cr	₹-11 Cr	-13.5%	₹-31 Cr	-39%	-31.8%	—	32

Date	Category	Subject	Filing
11 Sept 2026, 12:49 pm	Company Update General	Clarification Pertaining To Volume Movement	PDF
11 Sept 2026, 12:28 pm	Company Update Clarification	Clarification sought from Wendt (India) Ltd	—
3 Sept 2026, 5:44 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
3 Aug 2026, 5:19 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
24 Jul 2026, 5:51 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
24 Jul 2026, 2:38 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
24 Jul 2026, 2:32 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
24 Jul 2026, 2:25 pm	Result Financial Results	Unaudited Financial Results For The Quarter Ended 30Th June 2026.	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	18	16	8	37	33	30	34	22
	-5	-13	-12	-1	-30	-18	-8	-26	-5
	-6	-6	-3	-6	-8	-16	-16	-9	-9
Net cash flow	0	-0	3	1	-1	-1	5	-1	7
Free cash flow	—	—	—	-2	32	23	13	14	9
CFO / Operating profit %	50.5%	73.4%	101.2%	37.4%	88.5%	58.8%	53.6%	64%	68.3%

Wendt (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

33

1

Announcements

33

1

Not in the F&O segment

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Machines and Accessories · revenue

Wendt (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

Dividends33

Board meetings1

Announcements

Dividends33

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Machines and Accessories · revenue

33

1

33

1