New Risk • Apr 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.1% net profit margin). Declared Dividend • Apr 27
Final dividend reduced to ₹10.00 Dividend of ₹10.00 is 50% lower than last year. Ex-date: 17th July 2026 Payment date: 23rd August 2026 Dividend yield will be 0.4%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
Full year 2026 earnings released: EPS: ₹72.75 (vs ₹197 in FY 2025) Full year 2026 results: EPS: ₹72.75 (down from ₹197 in FY 2025). Revenue: ₹2.42b (up 3.5% from FY 2025). Net income: ₹145.5m (down 63% from FY 2025). Profit margin: 6.0% (down from 17% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Apr 16
Wendt (India) Limited to Report Fiscal Year 2026 Results on Apr 24, 2026 Wendt (India) Limited announced that they will report fiscal year 2026 results on Apr 24, 2026 Announcement • Jan 23
Wendt (India) Limited Approves Interim Dividend for the Year Ending March 31, 2026, Payable by February 18, 2026 Wendt (India) Limited at its meeting convened has declared an interim dividend of 200% i.e. INR 20/- (Rupees twenty only) per equity share (on a face value of INR 10/-) for the year ending 31st March 2026. The Record Date for determining the members eligible to receive aforesaid interim dividend is 28th January 2026. In the case of shareholders opting for NECS/ECS, the dividend would in the normal course be credited to their accounts by 18th February 2026. In the case of shareholders opting physical mode of payment, the same will be dispatched by 18th February 2026. Declared Dividend • Jan 23
Dividend of ₹20.00 announced Shareholders will receive a dividend of ₹20.00. Ex-date: 28th January 2026 Payment date: 18th February 2026 Dividend yield will be 0.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 27% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 22
Third quarter 2026 earnings released: EPS: ₹14.90 (vs ₹41.10 in 3Q 2025) Third quarter 2026 results: EPS: ₹14.90 (down from ₹41.10 in 3Q 2025). Revenue: ₹607.9m (up 14% from 3Q 2025). Net income: ₹29.8m (down 64% from 3Q 2025). Profit margin: 4.9% (down from 15% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year. Announcement • Jan 15
Wendt (India) Limited to Report Q3, 2026 Results on Jan 21, 2026 Wendt (India) Limited announced that they will report Q3, 2026 results on Jan 21, 2026 Reported Earnings • Oct 19
Second quarter 2026 earnings released: EPS: ₹13.47 (vs ₹53.45 in 2Q 2025) Second quarter 2026 results: EPS: ₹13.47 (down from ₹53.45 in 2Q 2025). Revenue: ₹565.8m (up 1.7% from 2Q 2025). Net income: ₹27.0m (down 75% from 2Q 2025). Profit margin: 4.8% (down from 19% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Oct 10
Wendt (India) Limited to Report Q2, 2026 Results on Oct 17, 2025 Wendt (India) Limited announced that they will report Q2, 2026 results at 9:15 AM, Indian Standard Time on Oct 17, 2025 Announcement • Jul 11
Wendt (India) Limited to Report Q1, 2026 Results on Jul 21, 2025 Wendt (India) Limited announced that they will report Q1, 2026 results on Jul 21, 2025 New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (41% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹11,258, the stock trades at a trailing P/E ratio of 57.1x. Average trailing P/E is 34x in the Machinery industry in India. Total returns to shareholders of 40% over the past three years. Reported Earnings • Jul 09
Full year 2025 earnings released: EPS: ₹197 (vs ₹205 in FY 2024) Full year 2025 results: EPS: ₹197 (down from ₹205 in FY 2024). Revenue: ₹2.34b (up 3.0% from FY 2024). Net income: ₹394.8m (down 3.6% from FY 2024). Profit margin: 17% (down from 18% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Jul 07
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 14 July 2025. Payment date: 12 August 2025. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹8,493, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 32x in the Machinery industry in India. Total returns to shareholders of 36% over the past three years. Reported Earnings • Apr 26
Full year 2025 earnings released: EPS: ₹197 (vs ₹205 in FY 2024) Full year 2025 results: EPS: ₹197 (down from ₹205 in FY 2024). Revenue: ₹2.42b (up 6.9% from FY 2024). Net income: ₹394.8m (down 3.6% from FY 2024). Profit margin: 16% (down from 18% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 25
Dividend of ₹20.00 announced Dividend of ₹20.00 is the same as last year. Ex-date: 14th July 2025 Payment date: 12th August 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 16
Wendt (India) Limited to Report Fiscal Year 2025 Results on Apr 23, 2025 Wendt (India) Limited announced that they will report fiscal year 2025 results on Apr 23, 2025 New Risk • Mar 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹8,418, the stock trades at a trailing P/E ratio of 42.2x. Average trailing P/E is 28x in the Machinery industry in India. Total returns to shareholders of 78% over the past three years. Declared Dividend • Jan 24
Dividend of ₹30.00 announced Dividend of ₹30.00 is the same as last year. Ex-date: 28th January 2025 Payment date: 18th February 2025 Dividend yield will be 0.4%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 23
Third quarter 2025 earnings released: EPS: ₹41.10 (vs ₹47.96 in 3Q 2024) Third quarter 2025 results: EPS: ₹41.10 (down from ₹47.96 in 3Q 2024). Revenue: ₹534.0m (down 2.0% from 3Q 2024). Net income: ₹82.2m (down 14% from 3Q 2024). Profit margin: 15% (down from 18% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 22
Wendt (India) Limited Approves Interim Dividend for the Year Ending March 31, 2025, Payable by February 18, 2025 The Board of Directors of Wendt (India) Limited held its board meeting on 22nd January 2025. The Board of the company at its meeting convened has declared an interim dividend of 300% i.e. INR 30 per equity share (on a face value of INR 10/-) for the year ending 31st March 2025. The Record Date for determining the members eligible to receive aforesaid interim dividend is 28th January 2025. In the case of shareholders opting for NECS/ECS, the dividend would in the normal course be credited to their accounts by 18th February 2025. In the case of shareholders opting physical mode of payment, the same will be dispatched by 18th February 2025. Announcement • Jan 16
Wendt (India) Limited to Report Q3, 2025 Results on Jan 22, 2025 Wendt (India) Limited announced that they will report Q3, 2025 results on Jan 22, 2025 Reported Earnings • Oct 22
Second quarter 2025 earnings released: EPS: ₹53.45 (vs ₹44.75 in 2Q 2024) Second quarter 2025 results: EPS: ₹53.45 (up from ₹44.75 in 2Q 2024). Revenue: ₹584.4m (up 15% from 2Q 2024). Net income: ₹106.9m (up 19% from 2Q 2024). Profit margin: 18% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 10
Wendt (India) Limited to Report Q2, 2025 Results on Oct 21, 2024 Wendt (India) Limited announced that they will report Q2, 2025 results on Oct 21, 2024 Announcement • Jul 25
Wendt (India) Limited Appoints L Ramkumar as Independent Director Wendt (India) Limited at its AGM held on July 22, 2024 announced Appointment of Mr. L Ramkumar as an Independent Director. Reported Earnings • Jul 23
First quarter 2025 earnings released: EPS: ₹38.43 (vs ₹45.13 in 1Q 2024) First quarter 2025 results: EPS: ₹38.43 (down from ₹45.13 in 1Q 2024). Revenue: ₹490.6m (down 4.3% from 1Q 2024). Net income: ₹76.8m (down 15% from 1Q 2024). Profit margin: 16% (down from 18% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 13
Wendt (India) Limited to Report Q1, 2025 Results on Jul 22, 2024 Wendt (India) Limited announced that they will report Q1, 2025 results on Jul 22, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 12 July 2024. Payment date: 13 August 2024. Payout ratio is a comfortable 24% but the company is paying out more than the cash it is generating. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.7%). Announcement • Jun 24
Wendt (India) Limited Announces Retirement of Mr. Shrinivas G Shirgurkar as Independent Director, Effective July 23, 2024 Wendt (India) Limited announced at the board meeting held on June 24, 2024, in view of the impending retirement of Mr. Shrinivas G Shirgurkar, Chairman who would be completing his 2nd term of office as an Independent Director with effect from 23rd July 2024. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹15,900, the stock trades at a trailing P/E ratio of 77.5x. Average trailing P/E is 38x in the Machinery industry in India. Total returns to shareholders of 340% over the past three years. Reported Earnings • Apr 30
Full year 2024 earnings released: EPS: ₹205 (vs ₹200 in FY 2023) Full year 2024 results: EPS: ₹205 (up from ₹200 in FY 2023). Revenue: ₹2.27b (up 7.9% from FY 2023). Net income: ₹409.5m (up 2.2% from FY 2023). Profit margin: 18% (down from 19% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 27
Dividend reduced to ₹20.00 Dividend of ₹20.00 is 60% lower than last year. Ex-date: 12th July 2024 Payment date: 13th August 2024 Dividend yield will be 0.4%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by both earnings (40% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 27
Wendt (India) Limited, Annual General Meeting, Jul 22, 2024 Wendt (India) Limited, Annual General Meeting, Jul 22, 2024. Announcement • Apr 26
Wendt (India) Limited Recommends Final Dividend for the Year Ended March 31, 2024, Payable by August 13, 2024 Wendt (India) Limited at its board meeting held on April 25, 2024, recommended a final dividend of INR 20 (200%) per equity share (on a face value of INR 10) for the year ended March 31, 2024. The dividend warrants, upon approval of final dividend by the shareholders at the 42nd Annual General meeting, will be posted by August 13, 2024. In case of shareholders opting for NECS/NACH, the dividend would be credited to their accounts by August 13, 2024. Announcement • Apr 20
Wendt (India) Limited to Report Fiscal Year 2024 Results on Apr 25, 2024 Wendt (India) Limited announced that they will report fiscal year 2024 results on Apr 25, 2024 Upcoming Dividend • Jan 25
Upcoming dividend of ₹30.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 01 February 2024. Payment date: 16 February 2024. Payout ratio is a comfortable 40% and the cash payout ratio is 82%. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.7%). Reported Earnings • Jan 24
Third quarter 2024 earnings released: EPS: ₹47.96 (vs ₹50.31 in 3Q 2023) Third quarter 2024 results: EPS: ₹47.96 (down from ₹50.31 in 3Q 2023). Revenue: ₹545.0m (up 6.6% from 3Q 2023). Net income: ₹96.0m (down 4.7% from 3Q 2023). Profit margin: 18% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 19
Wendt (India) Limited Approves Interim Dividend for the Year Ending March 31, 2024, Payable on February 16, 2024 The Board of Wendt (India) Limited at its meeting convened January 19, 2024 has declared an interim dividend of 300% i.e. INR 30/- (Rupees thirty only) per equity share (on a face value of INR 10/-) for the year ending 31st March 2024. The Record Date for determining the members eligible to receive aforesaid interim dividend is 1st February 2024. In the case of shareholders opting for NECS/ECS, the dividend would in the normal course be credited to their accounts by 16th February 2024. In the case of shareholders opting physical mode of payment, the same will be dispatched by 16th February 2024. Announcement • Jan 12
Wendt (India) Limited to Report Q3, 2024 Results on Jan 19, 2024 Wendt (India) Limited announced that they will report Q3, 2024 results on Jan 19, 2024 Reported Earnings • Oct 20
Second quarter 2024 earnings released: EPS: ₹44.75 (vs ₹50.00 in 2Q 2023) Second quarter 2024 results: EPS: ₹44.75 (down from ₹50.00 in 2Q 2023). Revenue: ₹526.7m (down 1.4% from 2Q 2023). Net income: ₹89.5m (down 11% from 2Q 2023). Profit margin: 17% (down from 19% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 12
Wendt (India) Limited to Report Q2, 2024 Results on Oct 19, 2023 Wendt (India) Limited announced that they will report Q2, 2024 results on Oct 19, 2023 Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹13,563, the stock trades at a trailing P/E ratio of 64.8x. Average trailing P/E is 30x in the Machinery industry in India. Total returns to shareholders of 459% over the past three years. New Risk • Aug 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Reported Earnings • Jul 22
First quarter 2024 earnings released: EPS: ₹45.13 (vs ₹36.18 in 1Q 2023) First quarter 2024 results: EPS: ₹45.13 (up from ₹36.18 in 1Q 2023). Revenue: ₹530.7m (up 11% from 1Q 2023). Net income: ₹90.2m (up 25% from 1Q 2023). Profit margin: 17% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year whereas the company’s share price has increased by 58% per year. Upcoming Dividend • Jul 06
Upcoming dividend of ₹50.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.8%). Reported Earnings • Apr 24
Full year 2023 earnings released: EPS: ₹200 (vs ₹135 in FY 2022) Full year 2023 results: EPS: ₹200 (up from ₹135 in FY 2022). Revenue: ₹2.10b (up 18% from FY 2022). Net income: ₹400.9m (up 48% from FY 2022). Profit margin: 19% (up from 15% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jan 24
Upcoming dividend of ₹30.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 31 January 2023. Payment date: 17 February 2023. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.7%). Reported Earnings • Jan 19
Third quarter 2023 earnings released: EPS: ₹50.31 (vs ₹27.82 in 3Q 2022) Third quarter 2023 results: EPS: ₹50.31 (up from ₹27.82 in 3Q 2022). Revenue: ₹529.1m (up 28% from 3Q 2022). Net income: ₹100.7m (up 81% from 3Q 2022). Profit margin: 19% (up from 14% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Announcement • Jan 19
Wendt (India) Limited Declares Interim Dividend for the Year Ending 31 March 2023 Wendt (India) Limited board has declared an interim dividend of 300% i.e. INR 30 (Rupees Thirty only) per equity share (on a face value of INR 10/-) for the year ending 31 March 2023. The Record Date for determining the members eligible to receive aforesaid interim dividend is 27 January 2023. In the case of shareholders opting for NECS/ECS, the dividend would in the normal course be credited to their accounts by 14 February 2023. In the case of shareholders opting physical mode of payment, the same will be dispatched by 14 February 2023. Announcement • Jan 10
Wendt (India) Limited to Report Q3, 2023 Results on Jan 18, 2023 Wendt (India) Limited announced that they will report Q3, 2023 results on Jan 18, 2023 Upcoming Dividend • Jul 06
Upcoming dividend of ₹45.00 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 21 August 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (0.8%). Reported Earnings • Jul 03
Full year 2022 earnings released: EPS: ₹135 (vs ₹63.83 in FY 2021) Full year 2022 results: EPS: ₹135 (up from ₹63.83 in FY 2021). Revenue: ₹1.79b (up 31% from FY 2021). Net income: ₹270.7m (up 112% from FY 2021). Profit margin: 15% (up from 9.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 15% share price gain to ₹9,094, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 261% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 18% share price gain to ₹7,278, the stock trades at a trailing P/E ratio of 50.8x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 173% over the past three years. Reported Earnings • Apr 27
Full year 2022 earnings released: EPS: ₹135 (vs ₹63.83 in FY 2021) Full year 2022 results: EPS: ₹135 (up from ₹63.83 in FY 2021). Revenue: ₹1.79b (up 31% from FY 2021). Net income: ₹270.7m (up 112% from FY 2021). Profit margin: 15% (up from 9.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 33% per year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 23% share price gain to ₹6,324, the stock trades at a trailing P/E ratio of 51.3x. Average trailing P/E is 25x in the Machinery industry in India. Total returns to shareholders of 116% over the past three years. Upcoming Dividend • Jan 26
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 02 February 2022. Payment date: 16 February 2022. Payout ratio is a comfortable 32% and the cash payout ratio is 89%. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.6%). Reported Earnings • Jan 23
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹27.82 (up from ₹21.35 in 3Q 2021). Revenue: ₹422.3m (up 18% from 3Q 2021). Net income: ₹55.6m (up 30% from 3Q 2021). Profit margin: 13% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 24
Second quarter 2022 earnings released: EPS ₹40.19 (vs ₹13.98 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹483.8m (up 48% from 2Q 2021). Net income: ₹80.4m (up 188% from 2Q 2021). Profit margin: 17% (up from 8.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 07
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 14 July 2021. Payment date: 20 August 2021. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.8%). Reported Earnings • Jul 07
Full year 2021 earnings released: EPS ₹63.83 (vs ₹50.13 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹1.37b (down 4.6% from FY 2020). Net income: ₹127.7m (up 27% from FY 2020). Profit margin: 9.3% (up from 7.0% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Apr 24
Full year 2021 earnings released: EPS ₹63.83 (vs ₹50.13 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹1.41b (down 1.9% from FY 2020). Net income: ₹127.7m (up 27% from FY 2020). Profit margin: 9.1% (up from 7.0% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Executive Departure • Jan 30
Independent Non-Executive Director has left the company On the 22nd of January, K. Shetty's tenure as Independent Non-Executive Director ended after 11.8 years in the role. We don't have any record of a personal shareholding under Shetty's name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Jan 27
Upcoming Dividend of ₹10.00 Per Share Will be paid on the 18th of February to those who are registered shareholders by the 3rd of February. The trailing yield of 0.6% is below the top quartile of Indian dividend payers (1.9%), and is lower than industry peers (1.2%).