Wendt India Ltd - 505412

Name of Company	Wendt India Ltd.
BSE Code	505412
NSE Code	WENDT
ICICI Code
Established	1980
My Take	Like
Headquarters	Bangalore, plant in Hosur
Promoters	Wendt/Murugappa group
Story	They manufacture super abrasive grinding wheels (Diamond and cubic Boron Nitride), grinding machines and tools. The company is now a 40-40 partnership between Carborundum Universal (murugappa group) and Wendt group GmbH (Germany).  Subsidiaries have plants in Thailand and Sharjah.
Sector	Abrasives
Sub-sector
Website	http://www.wendtindia.com
Positives	Zero debt company. Sales have increased from 57 to 89 Cr from FY07 to FY11. Profits have also risen from 8.7 to 15.95 in the same period. Promoters hold 80% of the shares, none pledged. Can expect a regular dividend of 1.25% at current prices (Rs. 20 a year)
Negatives	Can buy at around 10 times PE
Peers	Carborundum, Orient Abrasives, Grindwell
News
Price @ blogged	1700 (22-Jan-12)
Cost of company	340 Cr market cap for a 15.95 Cr NP in FY ending Mar ' 11 makes it 21.32 times. This is for a company with 0 Cr debt and 56.14 Cr reserves
Group	Fast growers
Growth	Good growth company, NP has doubled in 5 years