### **Overview** Wendt (India) Limited, established in 1980 and commencing commercial production in 1983, is a leading Indian manufacturer and innovator in advanced grinding and precision engineering solutions. The company operates as a joint venture between **Wendt GmbH (Germany)** and **Carborundum Universal Limited (CUMI)** – both holding 37.5% equity each – with the public holding the remaining 25%. It is part of the renowned **Murugappa Group**, a 123-year-old conglomerate with diversified interests across abrasives, engineering, and financial services. Wendt India positions itself as a **complete grinding solutions provider**, integrating three core business verticals: - **Super Abrasives** (Diamond & CBN-based tools) - **Machine Tools & Accessories** - **Precision Components** These synergies allow the company to offer end-to-end solutions to OEMs across high-precision industries such as **automotive, aerospace, defense, semiconductors, medical devices, ceramics, and electronics**. --- ### **Business Segments & Financial Highlights (FY25)** *(As of Aug 2025, data based on FY25 performance)* | **Segment** | **Revenue (₹ in lakhs)** | **EBIT Margin** | **Share of Revenue** | **Segment Assets (₹ in lakhs)** | |---------------------------|--------------------------|-----------------|------------------------|----------------------------------| | **Super Abrasives** | 14,159 | 22.0% | 61% | 12,726 | | **Machines & Accessories** | 4,364 | 19.6% | 19% | 5,764 | | **Precision Products** | 2,779 | 11.9% | 12% | — | > *Note: Super Abrasives remains the revenue engine, with strong margins and significant capital investment, reflecting its strategic importance.* --- ### **Core Capabilities & Market Positioning** #### **1. Technological Leadership in Super Abrasives** - Successfully **indigenized super abrasive bonds**, reducing import dependence – a major stride toward self-reliance under *Atma Nirbhar Bharat*. - Develops **diamond and cubic boron nitride (CBN)** grinding wheels for hard-to-machine materials like nickel, cobalt-based superalloys, ceramics, and hardened steels. - Products used in high-value applications across: - Aerospace - Automotive components - Cutting tools - Semiconductor (e.g., silicon wafer/ingot grinding) - Medical (e.g., dental implants, joint replacements) #### **2. Integrated Product Portfolio** Wendt India stands out by combining: - **Super Abrasive Tools** (vitrified, resin, electroplated, metal-bond) - **CNC Grinding & Honing Machines** - **High-Precision Engineered Components** This integration enables **customized, full-cycle grinding solutions**, making the company a preferred one-stop partner for OEMs in niche, performance-critical markets. #### **3. R&D and Innovation** - **DSIR-recognized R&D center** focused on materials science, bonding technologies, and advanced grinding processes. - Key innovations include: - Indigenously developed bonding systems - **Nano-CBN abrasives** for medical and electronic applications - New-generation **diamond dressing rolls** - **Razor blade, valve stem, and solar glass grinding wheels** - Collaborates with global R&D partners, academic institutions, and promoters (CUMI and Wendt GmbH). - **No foreign technology imported in the last three years** – underscoring strong in-house technology development. #### **4. Strategic Collaborations and Technology Transfer** - Entered into a **technology transfer agreement with Wendt GmbH** (July–Aug 2025) to manufacture **peripheral grinding machines** for insert grinding applications. - Enables access to **global markets**. - Supports sales of new machines, upgrades, and service revenue. - Strategic partnership with **Lithoz GmbH** (since Jan 2023) to promote **ceramic 3D printing technology** in India. - Offers Wendt a foothold in **additive manufacturing**, particularly for complex aerospace and biomedical parts. --- ### **Growth Drivers & Strategic Initiatives** | **Growth Area** | **Initiatives & Developments** | |------------------------------|--------------------------------| | **Electric Vehicles (EVs)** | Developing precision components for EV drivetrains and motors; shift from ICE decline to EV opportunities. | | **Semiconductors** | Developing specialized CBN and diamond wheels for **silicon and compound semiconductor** processing. Sees major opportunity in India’s emerging semiconductor ecosystem. | | **Medical & Biomedical** | Creating advanced grinding solutions for **surgical instruments, hypodermic needles, dental implants, and orthopedic devices**. | | **Aerospace** | Achieving **aerospace certification**; developing components and grinding solutions for certified production in global supply chains. | | **3D Printing / Additive Manufacturing** | Exploring **in-house development of 3D printing machines**; leveraging Lithoz partnership to enter the **ceramic AM space**. | | **Global Expansion** | - Onboarding new distributors in aerospace, glass, and steel sectors.<br>- Expanding e-commerce, digital marketing, and technical webinars.<br>- Export sales up 2% YoY despite global headwinds (e.g., Russia-Ukraine conflict, China+1 shifts). | --- ### **Manufacturing & Operational Excellence** - **Facilities at:** Hosur (Tamil Nadu), Pune (Maharashtra), and **Thailand (via subsidiary Wendt Grinding Technologies Ltd)**. - Utilizes **advanced manufacturing techniques**: - Hot press sintering - Vacuum brazing - Pulse electroplating - Sophisticated powder filling - These methods have improved **product quality, reduced cycle times**, and boosted **operational efficiency**. --- ### **Competitive Landscape** - **Competes against**: Global leaders (e.g., Bosch, Tyrolit, Saint-Gobain) with deep R&D and regional unorganized players. - **Competitive Advantages**: - Full product integration - Access to German technology and engineering - Globally recognized **'Wendt' brand** - Strong customer trust and customization capability - Dual strategy: - **STAR brand** for cost-sensitive, fast-moving abrasives - Premium solutions through **technical collaborations** for high-performance needs --- ### **Recent Developments (Jul–Aug 2025)** - **Acquisition of Global 'Wendt' Brand Rights**: Subject to shareholder approval, the company plans to acquire full global ownership of the *Wendt* brand and trademarks (over 60 registrations in 40 countries) for up to **€3.8 million (~₹34 crores)** – a move to strengthen brand control and international reach. - **Future Contracts with Wendt GmbH**: Plans contractual agreements worth up to **₹60 crores** (FY25–FY26) to support technology, competitiveness, and operational upgrades. - **New Product Development**: - **Machine Tools**: WAC 715 CENTRO, Profiling & Dressing Machine Opra 400 - **Precision Components**: CB28 Assembly, WBM 205 CDR, Rotor, Low Pressure Vanes - **Wheels**: Fettling applications, next-gen diamond dressing rolls - **OELHELD Collaboration**: Active in **ceramics additive manufacturing**, targeting semiconductor and dental sectors.