Wendt (India) Limited announced at its board meeting held on July 24, 2018, the board has approved the appointment of Mr. Rajesh Khanna as an Additional Director (Executive Director) of the company with effect from 24th July 2018 for a term commencing from 24th July 2018 to 31st October 2020 subject to shareholders approval. The company also announced that stepping down of Mr. M M Murugappan, chairman of the board effective from the closing hours of July 24, 2018, due to his pressing commitments after having taken over as the Executive Chairman of Murugappa Group early in the year 2018. The board also elected Mr. Shrinivas G Shirgurkar as its Chairman at its meeting in the place of Mr. M M Murugappan.

The company reported unaudited standalone and consolidated earnings results for the first quarter ended June 30, 2018. For the quarter, on standalone basis, the company reported gross sales/revenue from operations of INR 364.7 million against INR 300.7 million a year ago. Total income was INR 374.6 million against INR 309.5 million a year ago. Profit before tax was INR 62.7 million against INR 13.8 million a year ago. Profit after tax was INR 44.9 million or INR 22.45 per basic and diluted share against INR 10.9 million or INR 5.45 per basic and diluted share a year ago.

For the quarter, on consolidated basis, the company reported gross sales/revenue from operations of INR 416.3 million against INR 350.9 million a year ago. Total income was INR 426.8 million against INR 360.5 million a year ago. Profit before tax was INR 74.3 million against INR 27.2 million a year ago. Profit after tax was INR 53.7 million or INR 26.85 per basic and diluted share against INR 22.8 million or INR 11.40 per basic and diluted share a year ago.