Wendt India Ltd (WENDT)

Capital Goods · Capital Goods-Non Electrical Equipment · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹8,111.25 ↓ 18% (1Y)

🎯 Key Takeaways

Wendt India Ltd is transitioning from a mature, low-growth capital goods player into a phase of accelerated expansion driven by strong order book momentum and margin improvement. The company has demonstrated consistent top-line and bottom-line growth in Q1 FY27, with consolidated sales up 37% YoY and PAT up 63% YoY, signaling operational leverage and successful execution of its industrial abrasives and precision components strategy.
Revenue grew 6.7% QoQ to ₹71 in Q1FY27.
⚠️ High valuation (P/E of 96.2) reflects elevated investor expectations, making the stock vulnerable to any slowdown in growth or margin compression.

Market Cap

₹1,622

P/E Ratio

95.7

P/B Ratio

6.39

ROE

6.7%

ROCE

10.3%

Debt/Equity

0.00

Div Yield

0.37%

Promoter

37.5%

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📖 The Story

Wendt India Ltd is transitioning from a mature, low-growth capital goods player into a phase of accelerated expansion driven by strong order book momentum and margin improvement. The company has demonstrated consistent top-line and bottom-line growth in Q1 FY27, with consolidated sales up 37% YoY and PAT up 63% YoY, signaling operational leverage and successful execution of its industrial abrasives and precision components strategy. This growth is occurring from a base of minimal debt and a robust balance sheet, positioning it for reinvestment without financial constraints.

📰 What's Happening

In Q1 FY27 (ended June 2026), Wendt reported consolidated sales of ₹7,093 lakhs (+37% YoY) and consolidated PAT of ₹618 lakhs (+63% YoY), with standalone figures also showing strong growth (₹6,077 lakhs revenue, ₹800 lakhs PAT). The Board approved these unaudited results on 24 July 2026, confirming segment-wise performance across SuperAbrasives, MachinesAndAccessories, and PrecisionComponents. Additionally, the 44th AGM held on 24 July 2026 approved audited FY26 financials and declared final and interim dividends of ₹10 and ₹20 per share respectively. Senior Management roles for Thiyagarajan R and Sanjaya S C were restructured under SEBI Regulation 30 disclosures, though no exit occurred. The company also filed its Sustainability Report on 2 July 2026, underscoring ESG compliance and long-term operational discipline.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	57	61	67	71
Operating Profit	3	4	7	7
OPM %	5.5%	6.1%	10.0%	10.4%
Net Profit	3	3	5	6
EPS	₹13.47	₹14.90	₹25.45	₹30.90

The company’s financial trajectory shows a clear inflection point: revenue has grown from ₹57 crore in September 2025 to ₹71 crore in June 2026, with operating margins expanding from 5.5% to 10.4% and net profit margins accelerating in tandem. This improvement is not marginal — PAT growth outpaced revenue growth consistently, indicating operating leverage and pricing power. The absence of debt and stable equity base suggest that reinvestment is being funded internally, supporting sustainable margin expansion. The trend reflects successful scaling of higher-margin segments and improved execution, aligning with management’s focus on value-driven growth rather than volume-led expansion.

🔮 Management Outlook & What's Next

Management has not provided formal forward guidance in the reviewed filings, but the consistent approval of strong quarterly results and emphasis on segmental performance in press releases and board discussions indicate confidence in sustaining growth momentum. The reaffirmation of dividend payouts and continued focus on operational efficiency suggest a strategy of reinvesting profits into capacity and product diversification while returning capital to shareholders. The company’s actions imply an outlook centered on scaling high-growth verticals with improving profitability, though no explicit revenue or margin targets were disclosed in the latest filings.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	2	2	2	2
Reserves	228	242	246	252
Borrowings	0	1	0	0
Total Liabilities	268	301	290	306
Fixed Assets	60	65	74	106
Investments	92	52	51	47
Total Assets	268	301	290	306

The balance sheet reflects a pristine capital structure with zero net debt and growing equity reserves, reinforcing financial flexibility. Total assets have remained stable around ₹300 crore, while equity reserves increased from ₹242 crore to ₹252 crore, indicating retained earnings are being capitalized without dilution or borrowing. This supports a strategy of organic growth and dividend sustainability, with no urgency to raise capital or deleverage. The lack of borrowings also suggests management views the current scale as sufficient and is prioritizing reinvestment over aggressive expansion through leverage.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+22
Investing	-5
Financing	-9
Net Cash Flow	+10

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	37.5%	37.5%	37.5%	37.5%
FII	1.8%	1.1%	1.0%	1.2%
DII	9.6%	9.8%	12.8%	12.0%
Public	42.0%	43.4%	40.9%	41.1%
# Shareholders	27,578	28,999	26,654	26,857

Institutional investor interest has shown mixed but generally stable trends: FII holding declined slightly from 1.81% in Q2FY26 to 1.16% in Q1FY27, while DII increased from 9.63% to 11.97%, suggesting domestic institutional accumulation. Promoter holding remains steady at 37.5%, with no signs of disinvestment. The growing number of public shareholders (26,857 in Q1FY27) and stable promoter stake indicate broadening retail interest. The absence of pledging or significant exits, combined with rising DII participation, may signal increasing confidence among long-term investors in the company’s turnaround narrative.

⚖️ Peer Comparison — Capital Goods-Non Electrical Equipment

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
CUMMINSIND	1.41 L Cr	59.5	36.6%	27.9%	0.00
WELCORP	67,358	29.1	27.3%	25.3%	0.24
APLAPOLLO	61,642	50.1	35.9%	29.2%	0.15
TIINDIA	53,529	88.2	23.6%	14.3%	0.05
INDOMIM	42,466	—	—	—	0.39
KIRLOSENG	31,090	56.9	13.7%	14.8%	1.47
JYOTICNC	22,489	69.9	24.1%	19.1%	0.29
GRINDWELL	21,989	50.4	23.3%	17.3%	0.00
CARBORUNIV	20,993	99.5	8.0%	4.8%	0.08
ELGIEQUIP	19,924	44.3	23.6%	20.1%	0.18

🔗 Peer Stock Analyses

CUMMINSIND WELCORP APLAPOLLO TIINDIA INDOMIM

⚠️ Risk Factors

1. High valuation (P/E of 96.2) reflects elevated investor expectations, making the stock vulnerable to any slowdown in growth or margin compression. 2. Concentration in capital goods exports exposes the company to global cyclical demand and currency fluctuations, which could impact order visibility. 3. Despite strong recent margins, the competitive nature of the abrasives and precision components markets could pressure pricing if capacity expansion outpaces demand. 4. Management changes in senior roles, while not indicative of exits, may introduce execution risks if not effectively managed during restructuring.

📋 Recent Filings

🧠 Analyst's Read

Wendt India is executing a disciplined growth phase with improving margins and strong order traction, supported by a clean balance sheet and consistent shareholder returns. The key watchpoint will be whether this momentum can be sustained amid macroeconomic headwinds and increasing competition, particularly in export markets. Investors should monitor order inflows and segment-wise margin trends in upcoming quarters to assess the durability of the current growth trajectory.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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