Wendt (India) Ltd, an abrasive and precision component manufacturer, will continue to focus on product development, new customer acquisition, price correction among others, aimed at boosting business growth, the company said on Sunday.
The company, part of the diversified conglomerate Murugappa Group, would also take initiatives on identifying and onboarding automobile, steel and engineering industry specific distributors in overseas markets witnessing an increase in sales in Super Abrasive business last financial year, Wendt (India) said in its annual report.
The Super Abrasive business achieved sales of Rs 140.54 crore, which is higher by 7 per cent over the previous year. The domestic Super Abrasives sales also grew by 9 per cent over last year.
"This is the highest ever sales for the domestic Super Abrasives business. The higher sales were from industries like auto, auto-ancillaries, steel, bearings, engineering, and cutting tools," the company said. The increase in sales was in the backdrop of initiatives taken by the company, which include product development, key account management for top customers, appointment of precision dealers, deployment of successful applications, among others.
The Super Abrasive business segment comprises manufacturing diamond and grinding wheels, rotary dressers, hones, and it is the biggest business vertical of the company. "The company continues to take several initiatives, including deployment of successful applications and products, entering new markets, leveraging all its products as a complete package solution to serve customers better, to grow the business," the company said in its report.
Wendt (India) is a preferred supplier for many automobile, auto-component, engineering, aerospace, defence customers for their Super Abrasive Tooling solutions, and also Grinding and Honing machines, and precision components. Some of the industries that use these kinds of components are the automobile and ancillary and in the manufacturing of aircraft parts.
On overseas business, Wendt India said it witnessed a marginal increase of 2 per cent in its exports during the last financial year under the Super Abrasives segment. The rise in exports was due to reduced off-take from key customers in a few countries.
On the machine tools business, the company said it witnessed an 8 per cent decline in sales to Rs 43.64 crore in the last financial year due to a delay in orders and customers deferring purchase due to 'adverse economic situation'.
"The company continues to mitigate supply chain issues by better planning, bulk ordering of some of the critical parts for the year, working closely with critical vendors, and by developing alternative vendors," the report added.
The company, part of the diversified conglomerate Murugappa Group, would also take initiatives on identifying and onboarding automobile, steel and engineering industry specific distributors in overseas markets witnessing an increase in sales in Super Abrasive business last financial year, Wendt (India) said in its annual report.
The Super Abrasive business achieved sales of Rs 140.54 crore, which is higher by 7 per cent over the previous year. The domestic Super Abrasives sales also grew by 9 per cent over last year.
"This is the highest ever sales for the domestic Super Abrasives business. The higher sales were from industries like auto, auto-ancillaries, steel, bearings, engineering, and cutting tools," the company said. The increase in sales was in the backdrop of initiatives taken by the company, which include product development, key account management for top customers, appointment of precision dealers, deployment of successful applications, among others.
The Super Abrasive business segment comprises manufacturing diamond and grinding wheels, rotary dressers, hones, and it is the biggest business vertical of the company. "The company continues to take several initiatives, including deployment of successful applications and products, entering new markets, leveraging all its products as a complete package solution to serve customers better, to grow the business," the company said in its report.
Wendt (India) is a preferred supplier for many automobile, auto-component, engineering, aerospace, defence customers for their Super Abrasive Tooling solutions, and also Grinding and Honing machines, and precision components. Some of the industries that use these kinds of components are the automobile and ancillary and in the manufacturing of aircraft parts.
On overseas business, Wendt India said it witnessed a marginal increase of 2 per cent in its exports during the last financial year under the Super Abrasives segment. The rise in exports was due to reduced off-take from key customers in a few countries.
On the machine tools business, the company said it witnessed an 8 per cent decline in sales to Rs 43.64 crore in the last financial year due to a delay in orders and customers deferring purchase due to 'adverse economic situation'.
"The company continues to mitigate supply chain issues by better planning, bulk ordering of some of the critical parts for the year, working closely with critical vendors, and by developing alternative vendors," the report added.
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