Wendt India announces final dividend of 200% amid flat net profit in FY24

Murugappa Group firm Wendt India’s Board has recommended a final dividend of ₹20 per equity share (on a face value of ₹10) for FY24 amid posting a flat consolidated profit after tax for the year.

• Also read: Wendt India records a 30% rise in Q1 net profit 

The company had declared an interim dividend of ₹30 per share at its Board Meeting held on January 19. 2024. So, the total dividend for the year ended March 31, 2024, is ₹50 per share.

The company reported a flat net profit of ₹40 crore for the year ended March 31, 2024. Consolidated revenue from operations increased to ₹227 crore from ₹210 crore.

On a Standalone basis, the Company’s net profit reported a marginal drop to ₹39.5 crore in FY24 (₹40.12 crore in FY23). Its revenue from operations stood at ₹209 crore in FY24 as compared with ₹194 crore in the year-ago period, aided by higher domestic sales.

Exports were at ₹49 crore in FY24, lower by 7 per cent over the previous year. The exports were lower due to geopolitical uncertainties and recession across a majority of the countries, said a statement.

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