GMM Pfaudler Ltd
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.
- Market Cap ₹ 6,349 Cr.
- Current Price ₹ 1,412
- High / Low ₹ 1,898 / 1,201
- Stock P/E 81.7
- Book Value ₹ 164
- Dividend Yield 0.14 %
- ROCE 17.1 %
- ROE 14.7 %
- Face Value ₹ 2.00
Pros
- Company's median sales growth is 19.7% of last 10 years
Cons
- Stock is trading at 8.61 times its book value
- 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.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Engineering
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
202 | 168 | 201 | 224 | 230 | 266 | 312 | 419 | 516 | 641 | 815 | 1,075 | 1,099 | |
186 | 153 | 174 | 193 | 198 | 226 | 266 | 353 | 416 | 487 | 643 | 904 | 944 | |
Operating Profit | 16 | 14 | 27 | 31 | 32 | 41 | 46 | 66 | 100 | 154 | 172 | 171 | 155 |
OPM % | 8% | 9% | 13% | 14% | 14% | 15% | 15% | 16% | 19% | 24% | 21% | 16% | 14% |
3 | 5 | 3 | 3 | 3 | 5 | 7 | 7 | 5 | 8 | 4 | 23 | 21 | |
Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 7 | 15 | 27 | 34 |
Depreciation | 5 | 6 | 7 | 8 | 7 | 7 | 8 | 10 | 20 | 29 | 34 | 36 | 38 |
Profit before tax | 13 | 13 | 22 | 26 | 28 | 38 | 44 | 61 | 82 | 126 | 127 | 131 | 103 |
Tax % | 30% | 27% | 34% | 34% | 34% | 31% | 35% | 34% | 24% | 24% | 25% | 25% | |
9 | 10 | 14 | 17 | 18 | 26 | 28 | 41 | 62 | 95 | 95 | 99 | 78 | |
EPS in Rs | 2.08 | 2.20 | 3.26 | 3.92 | 4.18 | 5.94 | 6.46 | 9.26 | 14.15 | 21.66 | 21.63 | 22.01 | 17.29 |
Dividend Payout % | 45% | 42% | 31% | 25% | 24% | 22% | 21% | 16% | 12% | 8% | 9% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 20% |
5 Years: | 28% |
3 Years: | 28% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 26% |
5 Years: | 25% |
3 Years: | 10% |
TTM: | -9% |
Stock Price CAGR | |
---|---|
10 Years: | 43% |
5 Years: | 29% |
3 Years: | 1% |
1 Year: | -4% |
Return on Equity | |
---|---|
10 Years: | 20% |
5 Years: | 22% |
3 Years: | 21% |
Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 9 | 9 |
Reserves | 100 | 105 | 114 | 125 | 138 | 162 | 183 | 215 | 268 | 354 | 442 | 699 | 728 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34 | 123 | 140 | 337 | 360 | |
59 | 54 | 69 | 62 | 55 | 84 | 101 | 127 | 125 | 188 | 285 | 278 | 198 | |
Total Liabilities | 162 | 162 | 186 | 190 | 196 | 249 | 286 | 345 | 431 | 668 | 870 | 1,323 | 1,296 |
37 | 41 | 37 | 33 | 40 | 48 | 57 | 63 | 127 | 177 | 227 | 232 | 219 | |
CWIP | 4 | 1 | 2 | 5 | 4 | 2 | 7 | 5 | 2 | 3 | 10 | 7 | 8 |
Investments | 30 | 33 | 34 | 34 | 36 | 68 | 73 | 69 | 58 | 172 | 171 | 519 | 519 |
91 | 87 | 114 | 119 | 116 | 131 | 151 | 208 | 245 | 316 | 461 | 565 | 550 | |
Total Assets | 162 | 162 | 186 | 190 | 196 | 249 | 286 | 345 | 431 | 668 | 870 | 1,323 | 1,296 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
28 | 12 | 17 | 27 | 14 | 22 | 39 | 36 | 50 | 125 | 82 | 58 | |
-11 | -11 | -1 | -15 | -18 | -21 | -23 | -9 | -45 | -199 | -89 | -195 | |
-10 | -5 | -6 | -6 | -6 | -6 | -8 | -10 | -5 | 74 | -7 | 159 | |
Net Cash Flow | 6 | -4 | 10 | 7 | -10 | -6 | 8 | 17 | 0 | 0 | -14 | 22 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 49 | 55 | 58 | 35 | 50 | 72 | 49 | 43 | 42 | 64 | 54 | 67 |
Inventory Days | 154 | 192 | 244 | 211 | 178 | 187 | 219 | 185 | 174 | 150 | 233 | 138 |
Days Payable | 64 | 84 | 106 | 105 | 88 | 147 | 136 | 96 | 91 | 124 | 161 | 106 |
Cash Conversion Cycle | 139 | 163 | 196 | 140 | 141 | 112 | 132 | 132 | 125 | 90 | 127 | 98 |
Working Capital Days | 51 | 60 | 54 | 39 | 53 | 62 | 49 | 45 | 64 | 52 | 71 | 82 |
ROCE % | 14% | 12% | 20% | 21% | 21% | 22% | 25% | 30% | 33% | 34% | 27% | 17% |
Documents
Announcements
- Certificate Under Regulation 40(9) Of SEBI LODR For The Year Ended March 31, 2024 10 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
5 Apr - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2024
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Compliance Under Regulation 7(3) Of SEBI (LODR) Regulations, 2015 ('Listing Regulations')
3 Apr - Compliance Certificate in accordance with Regulation 7(3) of Listing Regulations.
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Reclassification Of Pfaudler Inc. From 'Promoter' To 'Public' Category
2 Apr - BSE Ltd and NSE Ltd vide their letters dated April 2, 2024 have approved the reclassification of Pfaudler, Inc. from Promoter to Public category.
- Closure of Trading Window 28 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Sep 2023TranscriptNotesPPT
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Aug 2023Transcript PPT REC
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jul 2022TranscriptNotesPPT
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May 2022Transcript PPT
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May 2022TranscriptNotesPPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Oct 2021TranscriptNotesPPT
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Aug 2021Transcript PPT
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Jun 2021Transcript PPT
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Jan 2021TranscriptPPT
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Oct 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Jun 2018TranscriptPPT
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May 2018TranscriptPPT
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Feb 2018TranscriptPPT
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Nov 2017TranscriptPPT
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Aug 2017TranscriptPPT
Over 50% market share in India [1]
GMM Pfaudler (GMM) is the market leader in glass lined equipments with over 50% market share in India. It faces intense competition in small vessel segment from other domestic players. However, the group has a near monopoly in large vessel (with capacities over 16,000 litre) segment.[2].