Wendt (India) fell 3.86% to Rs 2759.25 after consolidated net profit declined 59.56% to Rs 2.20 crore on 22.61% decline in net sales to Rs 33.16 crore in Q3 December 2019 over Q3 December 2018.
Consolidated profit before tax (PBT) fell 58.44% to Rs 2.98 crore year-on-year (YoY). Tax expense fell 47.73% to Rs 0.92 crore during the period under review. The result was announced after market hours on Friday, 24 January 2020.The result was affected due to sluggish demand from almost all major user industries like automobile, steel, engineering, cutting tools and refractories on the domestic front and also lower offtake from global customers due to continued industrial slow down.
Meanwhile, the S&P BSE Sensex was down 156 points or 0.37% to 41457.64.
On the BSE, 185 shares were traded in the counter so far compared with average daily volumes of 531 shares in the past two weeks. The stock hit a high of Rs 2759.25 and a low of Rs 2655 so far during the day.
The stock hit a 52-week high of Rs 3390 on 1 November 2019. The stock hit a 52-week low of Rs 1955 on 5 August 2019.
The stock had outperformed the market over the past one month, rising 2.50% compared with 0.37% rise in the Sensex.
The scrip underperformed the market in past one quarter, gaining 4.84% as against Sensex's 6.64% rise.
The scrip had also underperformed the market in past one year, falling 5.39% as against Sensex's 14.97% fall.
The small cap company has equity capital of Rs 2.00 crore. Face value per share is Rs 10.
Wendt (India) classifies its business into three verticals: super abrasives, machine tools & precision components.
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