Wendt India Ltd(WENDT)

NSE: WENDTBSE: 505412

₹ 7,084.4+2.69%refreshed 23 Oct, 03:50 pm ISTMarket cap: ₹ 1,417 crWebsite: wendtindia.comUpdated: 24 Oct 2026

About

Wendt India Limited, incorporated in 1980 as a joint venture and headquartered in Hosur, is one of the market leaders in Super Abrasives and has manufactured special-purpose grinding machines for over three decades. The company offers a complete grinding solutions portfolio spanning Super Abrasives, CNC Grinding Machines, and Precision Components, with consolidated revenue of Rs. 236.32 crore in FY26. It is promoted by Carborundum Universal Ltd (CUMI) of the Murugappa Group, which acquired the founding Khataus stake in 1991.^[1][2]

Business segments

Super Abrasives: 63.5% of FY26 segment revenue (Rs. 148.85 cr), the largest vertical, covering Diamond/CBN grinding wheels in various bonding systems, rotary dressers, stationary dressers, hones and segmented products.^[3][1]
Machines and Accessories: 14.5% of FY26 segment revenue (Rs. 33.85 cr); manufactures special-purpose CNC grinding machines, with 43 machines produced during FY26.^[3][1]
Precision Products: 12.8% of FY26 segment revenue (Rs. 29.87 cr); higher by 7% over FY25, mainly on account of higher demand for fuel pump parts.^[3][1]
Others: 9.2% of FY26 segment revenue (Rs. 21.66 cr), contributing EBIT of Rs. 2.15 cr at a 9.9% margin.^[3]

Products and certifications

Super Abrasives portfolio includes Diamond/CBN grinding wheels (resin, metal, vitrified and electroplated bonds), rotary dressers, stationary dressers, hones, and segmented products.^[1]
The company obtained the certification required for supply to the aerospace sector, opening access to this high-growth segment.^[1]
Certifications maintained: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, EN9100:2018, IATF 16949:2016, and EN 13236:2019. R&D Centre holds DSIR recognition (renewal applied and awaited post March 2026 expiry).^[1]

Operations and capacity utilisation

Manufacturing facility and R&D centre are both located in Hosur.^[1]
Capacity utilisation at the Hosur plant in FY25: Resin 87%, Metal 89%, Vitrification 70%, Rotary 77%, EP 75%.^[4]
Quick Response Manufacturing (QRM) initiatives reduced supply-chain lead time from 16 days to 6 days, achieved above 90% Reliable On-time Performance of Delivery, and yielded 25% productivity improvement in Resin and Metal bonded pressing operations.^[1]
A 300 kW solar energy system was commissioned in FY26 as part of sustainability initiatives; energy consumption was reduced by 2.5%.^[1]

Key operating numbers

Super Abrasives segment revenue: Rs. 14,763 lakhs in FY26, up 5% over FY25 (Rs. 14,159 lakhs). EBIT margin: 19.1% in FY26 vs 22.0% in FY25.^[1][3][4]
Machines and Accessories segment revenue: Rs. 2,902 lakhs in FY26, down 34% over FY25 (Rs. 4,364 lakhs). EBIT margin: -40.2% in FY26 vs 19.6% in FY25.^[1][3][4]
Precision Products segment revenue: Rs. 2,987 lakhs in FY26, up 7% over FY25 (Rs. 2,779 lakhs). EBIT margin: 5.1% in FY26 vs 11.9% in FY25.^[1][3][4]
R&D investments: Rs. 556 lakhs in FY25 (2.6% of sales), up from Rs. 298 lakhs (1.3% of sales) in FY24.^[4]
Net working capital days rose to 93 in FY25 from 79 in FY24, driven by receivables expansion.^[4]

Customers and distribution

Export Super Abrasives sales in FY26 were Rs. 3,646 lakhs, lower by 5% over FY25; exports contributed 20% of total FY26 turnover. The company serves 35 countries.^[1]
Export markets include the US, UK, Germany, South Korea, Taiwan, and Australia; export share was 21.9% of standalone FY25 revenue.^[4]
National presence across all states in India; online ordering enabled through the company's website.^[1]
Strategy focuses on onboarding industry-specific distributors in glass, aerospace, and steel segments in six targeted export countries.^[4][1]

Subsidiaries

Wendt Grinding Technologies Limited (WGTL), Thailand (wholly owned subsidiary): FY26 sales of Thai Baht 947 lakhs (~Rs. 2,589 lakhs), up 7% YoY; Profit After Tax Thai Baht 81 lakhs (~Rs. 220 lakhs), up 42% YoY.^[1]
Wendt GmbH, Tönisvorst, Germany (wholly owned subsidiary incorporated 8 July 2025): initial share capital of 0.55 million Euros (Rs. 546 lakhs); first-year sales of 0.51 million Euros (Rs. 522 lakhs) and a loss of 0.98 million Euros (Rs. 1,008 lakhs) due to establishment and market-development costs.^[1]

Recent developments

In March 2025, Wendt India completed acquisition of the 'Wendt' brand and 60+ trademark registrations across 40 countries from Wendt GmbH (Germany) for EUR 3.8m (Rs. 35.08 cr); assignment of registrations was ongoing as of Q4 FY25.^[4]
In January 2025, Wendt GmbH (3M's subsidiary) intimated its intention to sell up to its entire 37.5% stake in Wendt India through secondary-market transactions.^[5]
Wendt GmbH Germany (the new WOS) incorporated on 8 July 2025 to handle distribution, sale, and after-sales service of Super Abrasives and peripheral grinding machines across European markets.^[1]
Contracts with Wendt GmbH (Germany) for purchase/sale of goods, services, and technology license for FY25 and FY26 approved up to an aggregate INR 60 cr.^[4]

R&D and new growth areas

R&D team is developing grinding wheels for semiconductor applications (wafer grinding and PV solar ingot grinding), solar glass, laminated and tempered glass, rice polishing, belt grinding, and biomedical applications.^[1]
Company is exploring new business opportunities in aerospace, compressor and hydraulic components, special inserts, carbide, medical, consumer electronics, and semiconductor manufacturing.^[1]
Machine business strategy is shifting from industry-specific to application-based machines, with diversification beyond the steel sector.^[1]

Market Cap

₹1,417 Cr

High / Low

₹9,146 / 5,850

Stock P/E

71.8

Price / Book

5.4

Book Value

₹1,269

EPS

₹72.8

No. of Shares

0.2 Cr

ROCE

9.2%

ROE

5.9%

OPM

9.4%

Debt / Equity

0.00

Sales

₹236 Cr

Net Profit

₹15 Cr

Promoter holding

37.5%

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Wendt India Ltd(WENDT)

About

Business segments

Products and certifications

Operations and capacity utilisation

Key operating numbers

Customers and distribution

Subsidiaries

Recent developments

R&D and new growth areas

Signal history

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