M.M. Murugappan, on Tuesday, stepped down as the chairman of Wendt India Ltd.
Mr. Murugappan, who is currently the executive chairman of the Murugappa group’s corporate board, quit Wendt India chairmanship due to his pressing commitments.
He was replaced by Shrinivas G. Shirgurkar.
The abrasives maker, in the meanwhile, ended the first quarter of June 2018 with a standalone net profit of ₹6.27 crore against ₹1.38 crore in the same quarter last year, a growth of 354%. It reported gross sales of ₹36.47 crore during the quarter under review against ₹30.07 crore for the corresponding year-ago period.