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GMM Pfaudler

₹1337 -7.2 | 0.5%

Market Cap ₹6011 Cr.

Stock P/E 30.6

P/B 6.2

Current Price ₹1337

Book Value ₹ 214.1

Face Value 2

52W High ₹1896.8

Dividend Yield 0.15%

52W Low ₹ 1201.1

GMM Pfaudler Research see more...

Overview Inc. Year: 1962Industry: Engineering - Industrial Equipments

GMM Pfaudler Ltd manufactures and sells corrosion-resistant glass covered device used primarily in the chemical, pharmaceutical, and allied industries in India and the world over. The company's products comprises glass covered equipment comprising glass lined reactors, columns and vessels, conical blender dryers, pipes and fittings, glass metal, and polytetrafluoroethylene lined pipes and fittings; and filtration and drying equipment, inclusive of agitated nutsche filters and filter out dryers, centrifugal disc filters, round dryers, and vacuum paddle dryers below the Mavazwag, Funda, Mavasphere, and Mavapad names. It additionally gives blending systems; and heavy engineering merchandise comprising heat exchangers, in addition to pressure vessels, which consist of Cr-Mo reactors, agitated reactors, column towers with internals, digesters, and scrubbers. In addition, the company provides engineered structures, which include wiped movie evaporators for use within the food processing, pharmaceutical, high-quality chemicals, polymers and resins, fat and oils, and petrochemical industries; and temperature control units for heating and cooling packages for the pharmaceutical, chemical, biotech, food, flavor and fragrance, and nutraceutical industries. Further, it gives glass thickness size, glass integrity checks, and excessive voltage spark and conductivity exams, in addition to preventive preservation offerings; and operates acid concentration plants to recover the acid for further use. The organization was previously referred to as Gujarat Machinery Manufacturers Ltd and modified its name to GMM Pfaudler Ltd in 1999. The organisation was founded in 1962 and is primarily based in Mumbai, India. GMM Pfaudler Ltd is a subsidiary of Pfaudler Inc.

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GMM Pfaudler Share Price

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GMM Pfaudler Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 647 642 699 739 780 792 866 912 937 856
Other Income 3 1 1 28 19 -11 15 9 9 -8
Total Income 650 643 701 768 800 781 881 921 946 848
Total Expenditure 553 560 628 641 661 674 770 780 795 742
Operating Profit 97 84 73 126 138 107 111 141 151 106
Interest 2 6 2 16 9 21 21 20 22 23
Depreciation 39 28 27 27 28 30 34 35 32 33
Exceptional Income / Expenses 0 0 0 0 0 -22 -0 0 0 0
Profit Before Tax 56 50 44 83 101 35 56 86 97 50
Provision for Tax 17 12 26 22 5 16 19 32 26 20
Profit After Tax 39 38 17 61 97 19 36 54 70 31
Adjustments -4 -6 -1 -17 -32 0 2 1 1 1
Profit After Adjustments 35 32 16 45 65 19 38 55 71 32
Adjusted Earnings Per Share 7.9 7.3 3.7 10.2 14.5 4.2 8.6 12.2 15.8 7.1

GMM Pfaudler Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 213 279 308 292 353 406 503 591 1001 2541 3178 3571
Other Income 6 4 4 4 6 9 9 6 23 7 52 25
Total Income 219 283 312 296 359 415 511 597 1025 2548 3229 3596
Total Expenditure 198 246 273 257 306 344 426 480 862 2257 2746 3087
Operating Profit 21 37 39 39 53 71 85 117 162 291 483 509
Interest 1 1 1 1 1 1 1 3 10 25 67 86
Depreciation 7 9 10 8 8 10 11 21 50 133 119 134
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -34 0 -22 0
Profit Before Tax 13 27 28 30 44 61 73 92 68 133 275 289
Provision for Tax 4 8 9 10 13 18 23 21 5 58 62 97
Profit After Tax 10 19 19 20 31 43 51 71 64 75 214 191
Adjustments 0 0 0 0 0 0 0 0 10 10 -47 5
Profit After Adjustments 10 19 19 20 31 43 51 71 73 85 167 196
Adjusted Earnings Per Share 2.2 4.3 4.3 4.6 7.2 9.7 11.5 16.2 16.8 19.4 37.1 43.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 25% 75% 51% 31%
Operating Profit CAGR 66% 60% 47% 37%
PAT CAGR 185% 44% 38% 36%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -9% -3% 28% 43%
ROE Average 32% 22% 22% 18%
ROCE Average 26% 18% 23% 22%

GMM Pfaudler Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 119 139 150 167 194 228 269 329 406 527 804
Minority's Interest 0 0 0 0 0 0 0 0 116 141 11
Borrowings 0 0 0 0 0 0 0 0 443 450 641
Other Non-Current Liabilities 5 5 4 4 11 17 20 90 603 649 496
Total Current Liabilities 71 91 80 84 147 190 176 164 910 1069 1524
Total Liabilities 196 235 234 256 351 434 465 583 2478 2858 3476
Fixed Assets 55 53 46 53 61 71 78 134 1043 1002 1213
Other Non-Current Assets 6 7 11 11 4 9 11 60 15 148 60
Total Current Assets 135 175 177 192 286 354 376 390 1419 1582 2203
Total Assets 196 235 234 256 351 434 465 583 2478 2858 3476

GMM Pfaudler Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 17 25 27 35 36 31 67 75 48 243 291
Cash Flow from Operating Activities 24 6 30 25 22 68 27 27 157 236 185
Cash Flow from Investing Activities -12 -2 -15 -18 -21 -24 -8 -50 -66 -117 -311
Cash Flow from Financing Activities -5 -7 -6 -6 -6 -8 -10 -5 105 -55 130
Net Cash Inflow / Outflow 8 -2 9 1 -5 35 9 -28 196 65 4
Closing Cash & Cash Equivalent 25 27 35 36 31 67 75 48 243 291 311

GMM Pfaudler Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 2.21 4.35 4.3 4.59 7.15 9.73 11.54 16.22 16.77 19.42 37.07
CEPS(Rs) 3.86 6.38 6.54 6.44 8.98 11.97 14.04 21.04 26.03 47.48 74.07
DPS(Rs) 2.8 3 3 3 4 4 4.5 5 5 6 2
Book NAV/Share(Rs) 27.21 31.69 34.31 38.05 44.21 51.94 61.34 75.05 92.75 120.23 178.14
Core EBITDA Margin(%) 6.74 11.35 10.76 11.3 12.56 14.86 15.19 18.76 13.72 11.12 13.52
EBIT Margin(%) 6.21 9.62 8.92 9.85 11.89 14.77 14.73 16.17 7.74 6.19 10.72
Pre Tax Margin(%) 5.89 9.26 8.76 9.63 11.65 14.52 14.5 15.58 6.73 5.23 8.63
PAT Margin (%) 4.25 6.52 5.86 6.5 8.23 10.22 10.01 12.01 6.28 2.95 6.7
Cash Profit Margin (%) 7.44 9.56 8.91 9.13 10.41 12.56 12.18 15.57 11.28 8.16 10.44
ROA(%) 5.11 8.85 8.05 8.21 10.26 10.86 11.25 13.58 4.15 2.82 6.74
ROE(%) 8.29 14.76 13.04 12.68 17.26 20.25 20.37 23.79 17.29 16.16 32.17
ROCE(%) 12.11 21.79 19.84 19.22 24.93 29.26 29.98 31.44 12.64 16.37 25.96
Receivable days 48.21 45.06 46.04 51.14 57.23 52.62 42.52 43.6 69.29 47.65 45.33
Inventory Days 100.4 91.32 90.34 85.6 73.9 77.72 76.25 74.33 126.73 89.16 82.46
Payable days 83.52 83.04 87.58 100.44 104.23 125.02 97.75 91.86 149.37 124.8 132.14
PER(x) 13.07 8.04 22.13 18.3 24.27 23.54 34.67 51.65 85.59 78.34 39.54
Price/Book(x) 1.06 1.1 2.78 2.21 3.93 4.41 6.52 11.17 15.47 12.65 8.23
Dividend Yield(%) 3.23 2.86 1.05 1.19 0.77 0.58 0.38 0.2 0.12 0.13 0.14
EV/Net Sales(x) 0.46 0.44 1.2 1.08 2.07 2.31 3.34 6.11 6.48 2.69 2.21
EV/Core EBITDA(x) 4.56 3.33 9.62 8.15 13.71 13.12 19.65 30.87 39.97 23.54 14.53
Net Sales Growth(%) -15.66 30.95 10.35 -5.06 20.87 14.92 23.9 17.59 69.37 153.77 25.07
EBIT Growth(%) -7.18 98.95 2.01 6.21 47.48 37.19 20.69 28.66 -18.31 101.92 116.36
PAT Growth(%) -2.5 96.8 -1.02 6.61 54.72 37.12 18.52 40.63 -10.66 18.58 183.31
EPS Growth(%) -2.5 96.8 -1.02 6.62 55.88 36.1 18.52 40.63 3.35 15.81 90.91
Debt/Equity(x) 0 0 0 0 0 0 0 0.03 1.21 0.96 1
Current Ratio(x) 1.88 1.92 2.21 2.27 1.95 1.87 2.14 2.37 1.56 1.48 1.45
Quick Ratio(x) 1.03 0.99 1.28 1.43 1.39 1.36 1.48 1.61 0.93 0.85 0.94
Interest Cover(x) 19.43 26.67 55.2 44.31 49.9 59.83 63.52 27.44 7.69 6.42 5.13
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0.08 0.08 0.12

GMM Pfaudler Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 54.95 54.95 54.95 56.06 38.74 38.74 38.74 25.18 25.18 25.18
FII 10.85 12.15 11.84 11.71 19.02 19.96 18.84 26.49 22.58 22.15
DII 5.98 5.82 6.1 5.61 10.65 10.59 10.75 12.58 13.11 13.06
Public 28.22 27.09 27.11 26.62 31.59 30.72 31.67 35.75 39.13 39.61
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 37% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 22%

Cons

  • Promoter holding is low: 25.18%.
  • Debtor days have increased from 124.8 to 132.14days.
  • Stock is trading at 6.2 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

GMM Pfaudler News

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