GMM Pfaudler Ltd

GMM Pfaudler Ltd

₹ 1,198 -0.99%
21 Nov - close price
About

GMM Pfaudler manufactures corrosion resistant glass-lined equipments [1]. It is a leading supplier of process equipments to the pharmaceutical and chemical industries [2]. Over the years GMMP has diversified its product portfolio to include Mixing Systems, Filtration & Drying Equipment, Engineered Systems and Heavy Engineering Equipments.

Key Points

Market Leadership
The company is the market leader in the global glass-lined equipment segment, holding a market share of 50% in America, 40% in Europe, 20% in China, and 50% in India. While it faces intense competition in the small vessel segment, the group enjoys a near monopoly in the large vessel segment. [1]

  • Market Cap 5,398 Cr.
  • Current Price 1,198
  • High / Low 1,664 / 1,143
  • Stock P/E 55.2
  • Book Value 229
  • Dividend Yield 0.17 %
  • ROCE 19.1 %
  • ROE 19.6 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 29.1% CAGR over last 5 years
  • Company's median sales growth is 17.6% of last 10 years

Cons

  • Promoter holding is low: 25.2%
  • Promoter holding has decreased over last 3 years: -29.8%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
647 642 699 739 780 792 866 912 937 856 741 785 805
553 560 628 641 661 674 772 782 795 742 650 697 712
Operating Profit 94 82 72 98 119 118 94 130 142 114 91 89 93
OPM % 14% 13% 10% 13% 15% 15% 11% 14% 15% 13% 12% 11% 12%
3 1 1 28 19 -32 15 9 9 -8 11 10 -1
Interest 2 6 2 16 9 21 21 20 22 23 30 25 26
Depreciation 39 28 27 27 28 30 36 38 36 36 36 32 33
Profit before tax 56 50 44 83 101 35 51 80 93 47 36 41 33
Tax % 30% 24% 60% 26% 4% 46% 35% 38% 27% 40% 19% 42% 48%
39 38 17 61 97 19 33 50 67 28 29 24 17
EPS in Rs 7.88 7.25 3.65 10.14 14.45 4.15 7.86 11.27 15.19 6.43 6.91 5.62 3.84
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
213 279 308 292 353 406 503 591 1,001 2,541 3,178 3,446 3,187
197 246 272 257 306 344 426 479 862 2,257 2,748 2,970 2,801
Operating Profit 16 33 36 35 48 62 77 112 139 284 429 477 387
OPM % 8% 12% 12% 12% 13% 15% 15% 19% 14% 11% 14% 14% 12%
5 4 3 4 6 9 8 5 -10 7 30 20 12
Interest 1 1 1 1 1 1 1 3 10 25 67 95 104
Depreciation 7 9 10 8 8 10 11 21 50 133 122 147 138
Profit before tax 13 27 28 30 44 61 73 92 68 133 271 255 156
Tax % 28% 30% 33% 33% 29% 30% 31% 23% 7% 44% 22% 32%
10 19 19 20 31 43 51 71 64 75 210 174 98
EPS in Rs 2.21 4.34 4.30 4.58 7.09 9.72 11.52 16.20 16.73 19.37 36.37 39.80 22.80
Dividend Payout % 42% 23% 23% 22% 19% 14% 13% 10% 10% 10% 6% 5%
Compounded Sales Growth
10 Years: 29%
5 Years: 47%
3 Years: 51%
TTM: -9%
Compounded Profit Growth
10 Years: 25%
5 Years: 29%
3 Years: 29%
TTM: -42%
Stock Price CAGR
10 Years: 31%
5 Years: 16%
3 Years: -7%
1 Year: -22%
Return on Equity
10 Years: 20%
5 Years: 21%
3 Years: 20%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 3 3 3 3 3 3 3 3 3 3 9 9 9
Reserves 116 136 148 164 191 225 266 326 403 524 792 959 1,022
0 0 0 0 0 0 0 34 633 636 973 906 936
77 96 84 89 125 161 165 166 1,342 1,554 1,582 1,271 1,275
Total Liabilities 196 235 234 256 318 389 434 530 2,381 2,717 3,355 3,144 3,242
55 53 46 53 61 71 78 134 1,043 1,002 1,224 1,233 1,220
CWIP 1 2 5 4 2 7 5 2 4 13 13 27 31
Investments 11 12 12 14 46 51 48 36 1 0 0 0 0
129 169 171 184 209 260 303 358 1,332 1,703 2,118 1,884 1,991
Total Assets 196 235 234 256 318 389 434 530 2,381 2,717 3,355 3,144 3,242

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
24 6 30 25 22 68 27 27 157 236 185 284
-12 2 -17 -17 -21 -24 -8 -50 -66 -134 -294 -32
-5 -7 -6 -6 -6 -8 -10 -5 105 -55 130 -244
Net Cash Flow 8 2 8 2 -5 35 9 -28 196 47 21 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 50 57 45 61 72 45 49 46 113 51 50 46
Inventory Days 214 270 202 214 201 207 181 181 470 241 220 165
Days Payable 83 90 97 93 133 132 100 92 246 141 153 106
Cash Conversion Cycle 181 236 150 182 140 121 130 134 337 151 117 105
Working Capital Days 41 56 46 51 65 43 56 80 104 53 57 64
ROCE % 10% 21% 20% 19% 22% 29% 29% 31% 15% 13% 22% 19%

Shareholding Pattern

Numbers in percentages

12 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
54.95% 54.95% 54.95% 56.06% 38.74% 38.74% 38.74% 25.18% 25.18% 25.18% 25.18% 25.18%
10.85% 12.15% 11.84% 11.71% 19.02% 19.96% 18.84% 26.49% 22.58% 22.15% 22.20% 14.62%
5.99% 5.82% 6.10% 5.61% 10.65% 10.58% 10.75% 12.58% 13.10% 13.06% 14.51% 15.80%
28.22% 27.09% 27.11% 26.63% 31.60% 30.72% 31.67% 35.75% 39.12% 39.61% 38.11% 44.40%
No. of Shareholders 89,75686,48988,7741,00,4051,16,5251,10,4811,12,8951,17,4521,29,8181,30,3101,27,1941,20,920

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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