GMM Pfaudler Ltd

GMM Pfaudler is engaged in the manufacture of corrosion resistant glasslined equipment used primarily in the chemical, pharmaceutical and allied industries. The Company also manufactures flouro-polymer products and other chemical process equipment such as agitated nutsche filters, filter driers, wiped film evaporators and mixing systems.(Source : 201903 Annual Report Page No: 89)

  • Market Cap: 5,560 Cr.
  • Current Price: 3,804
  • 52 weeks High / Low 6913.85 / 1316.20
  • Book Value: 185.45
  • Stock P/E: 87.09
  • Dividend Yield: 0.13 %
  • ROCE: 33.10 %
  • ROE: 25.74 %
  • Sales Growth (3Yrs): 24.70 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 2.00
Edit ratios
Pros:
Company is virtually debt free.
Company has delivered good profit growth of 30.68% CAGR over last 5 years
Cons:
Stock is trading at 20.51 times its book value

Peer comparison Sector: Capital Goods-Non Electrical Equipment // Industry: Engineering

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
76 79 88 93 99 106 121 130 136 137 113 131
65 67 73 78 83 88 104 106 109 108 93 107
Operating Profit 12 12 14 15 16 17 17 24 27 29 20 24
OPM % 15% 16% 16% 16% 16% 16% 14% 18% 20% 21% 18% 19%
Other Income 1 1 2 1 2 2 2 1 1 3 1 2
Interest 0 0 0 0 0 0 0 1 1 1 1 1
Depreciation 2 2 2 3 3 3 2 4 5 5 6 6
Profit before tax 11 11 14 14 15 16 16 20 21 25 15 20
Tax % 34% 32% 40% 34% 35% 32% 33% 28% 16% 23% 33% 17%
Net Profit 7 7 8 9 10 11 11 15 18 19 10 16
EPS in Rs 4.81 5.04 5.77 6.22 6.71 7.50 7.37 10.03 12.33 13.30 6.86 11.19
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
147 154 144 202 168 201 224 230 266 312 419 516 517
130 137 126 186 153 174 193 198 226 266 353 416 417
Operating Profit 17 18 18 16 14 27 31 32 41 46 66 100 100
OPM % 11% 11% 12% 8% 9% 13% 14% 14% 15% 15% 16% 19% 19%
Other Income 4 3 3 3 5 3 3 3 5 7 7 5 7
Interest 1 1 1 1 1 1 1 1 1 1 1 3 4
Depreciation 3 3 3 5 6 7 8 7 7 8 10 20 21
Profit before tax 16 16 16 13 13 22 26 28 38 44 61 82 81
Tax % 35% 32% 32% 30% 27% 34% 34% 34% 31% 35% 34% 24%
Net Profit 10 11 11 9 10 14 17 18 26 28 41 62 64
EPS in Rs 6.53 7.10 7.07 5.78 6.27 9.26 11.19 11.95 17.84 19.41 27.80 42.51 43.68
Dividend Payout % 40% 37% 37% 45% 42% 31% 25% 24% 22% 21% 16% 12%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.83%
5 Years:18.18%
3 Years:24.70%
TTM:13.44%
Compounded Profit Growth
10 Years:19.31%
5 Years:30.68%
3 Years:41.17%
TTM:38.18%
Stock Price CAGR
10 Years:41.63%
5 Years:72.55%
3 Years:86.68%
1 Year:155.67%
Return on Equity
10 Years:15.93%
5 Years:18.81%
3 Years:20.99%
Last Year:25.74%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
3 3 3 3 3 3 3 3 3 3 3 3
Reserves 83 89 95 100 105 114 125 138 162 183 215 268
Borrowings 0 0 4 0 0 0 0 0 0 0 0 34
51 41 55 59 54 69 62 55 84 101 127 125
Total Liabilities 137 133 158 162 162 186 190 196 249 286 345 431
30 28 29 37 41 37 33 40 48 57 63 127
CWIP 0 1 6 4 1 2 5 4 2 7 5 2
Investments 11 12 28 30 33 34 34 36 68 73 69 58
96 92 95 91 87 114 119 116 131 151 208 245
Total Assets 137 133 158 162 162 186 190 196 249 286 345 431

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
23 7 24 28 12 17 27 14 22 39 36 50
-5 -1 -25 -11 -11 -1 -15 -18 -21 -23 -9 -45
-17 -5 -1 -10 -5 -6 -6 -6 -6 -8 -10 -5
Net Cash Flow 1 0 -2 6 -4 10 7 -10 -6 8 17 0

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 19% 19% 18% 14% 12% 20% 21% 21% 22% 25% 30% 33%
Debtor Days 62 67 60 49 55 58 35 50 72 49 43 42
Inventory Turnover 1.87 1.99 1.63 2.33 2.06 1.96 1.98 2.20 2.38 2.18 2.47 2.41

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
0.05 0.01 0.02 0.38 0.33 0.33 0.33 0.37 0.32 0.34 0.27 0.87
0.38 0.38 0.92 1.07 1.11 1.10 1.06 1.42 1.77 1.87 2.12 2.10
0.00 0.26 0.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
24.57 24.35 23.78 23.55 23.56 23.57 23.61 23.21 22.91 22.79 22.61 22.03