Wendt (India) Limited has informed the Exchange regarding Resignation of Mr. Ninad Gadgil as Executive Director & CEO of the company w.e.f. September 15, 2025.
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Wendt (India) announced its Q1 FY26 results on July 21, 2025. Standalone revenue grew 6% YoY to Rs 4,649 lakhs, but standalone PAT fell 34% to Rs 495 lakhs, dragged down by weak machine sales and Wendt brand amortisation. Consolidated revenue rose 7% to Rs 5,163 lakhs, while consolidated PAT dropped 51% to Rs 378 lakhs, partly hurt by Rs 139 lakhs in initial setup costs at the new German subsidiary. The Board approved the declassification of Wendt GmbH, Germany as a promoter after it fully sold its stake on May 15-16, 2025. Separately, CEO and Executive Director Mr. Ninad Gadgil will step down effective September 15, 2025 to pursue opportunities outside the company.
Sharp YoY decline in profits despite modest revenue growth and the loss of the CEO may weigh on near-term sentiment, though the transition is framed as planned and no governance red flags were raised. Investors should watch for the appointment of a new CEO and whether margins recover in subsequent quarters.