175 per cent dividend from Wendt India

Wendt India Limited, a joint venture between Wendt GmbH and Carborundum Universal Ltd of the Rs 7,400-crore Murugappa Group, has recommended a higher dividend of 175 per cent on equity shares for the financial year ended March 31, 2007.

The dividend was 150 per cent during the previous fiscal, according to a Wendt release. During the year, the company achieved 22 per cent sales growth from Rs 41.63 crore to Rs 50.74 crore.

Profit after tax (PAT) increased 22 per cent from Rs 7.16 crore to Rs 8.71 crore. EPS was Rs 43.56 compared with the previous fiscal's Rs 35.78.

Domestic sales were up 34 per cent during the year from Rs 28.01 crore to Rs 37.64 crore. However, exports grew slower at 4 per cent.