GMM Pfaudler Ltd

GMM Pfaudler Ltd

₹ 787 -1.16%
27 May - 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 3,540 Cr.
  • Current Price 787
  • High / Low 1,418 / 783
  • Stock P/E 46.3
  • Book Value 268
  • Dividend Yield 0.25 %
  • ROCE 14.0 %
  • ROE 6.86 %
  • Face Value 2.00

Pros

  • Company's median sales growth is 19.2% of last 10 years
  • Company's working capital requirements have reduced from 30.7 days to 23.0 days

Cons

  • Promoter holding is low: 25.2%
  • Company has a low return on equity of 10.6% over last 3 years.
  • Dividend payout has been low at 9.96% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -13.6%

* 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

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
866 912 937 856 741 785 805 801 807 795 902 884 944
772 782 795 742 651 697 712 706 723 694 781 779 868
Operating Profit 94 130 142 114 90 89 93 96 83 101 122 105 75
OPM % 11% 14% 15% 13% 12% 11% 12% 12% 10% 13% 13% 12% 8%
15 9 9 -8 11 10 -1 26 -52 9 9 -48 9
Interest 21 20 22 23 30 25 26 25 27 43 30 34 16
Depreciation 36 38 36 36 39 35 36 35 38 36 36 41 42
Profit before tax 51 80 93 47 31 38 30 62 -34 32 64 -17 26
Tax % 35% 38% 27% 40% 18% 43% 50% 35% -18% 68% 39% -34% 41%
33 50 67 28 25 22 15 40 -28 10 39 -11 15
EPS in Rs 7.86 11.27 15.19 6.43 6.15 5.16 3.39 9.23 -5.99 2.48 9.22 -2.30 3.82
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
308 292 353 406 503 591 1,001 2,541 3,178 3,446 3,199 3,524
272 257 306 344 426 479 862 2,257 2,748 2,971 2,838 3,121
Operating Profit 36 35 48 62 77 112 139 284 429 476 361 403
OPM % 12% 12% 13% 15% 15% 19% 14% 11% 14% 14% 11% 11%
3 4 6 9 8 5 -10 7 30 20 -17 -20
Interest 1 1 1 1 1 3 10 25 67 95 103 123
Depreciation 10 8 8 10 11 21 50 133 122 150 144 158
Profit before tax 28 30 44 61 73 92 68 133 271 251 96 102
Tax % 33% 33% 29% 30% 31% 23% 7% 44% 22% 32% 49% 49%
19 20 31 43 51 71 64 75 210 171 49 52
EPS in Rs 4.30 4.58 7.09 9.72 11.52 16.20 16.73 19.37 36.37 39.03 11.78 12.86
Dividend Payout % 23% 22% 19% 14% 13% 10% 10% 10% 6% 5% 17% 8%
Compounded Sales Growth
10 Years: 28%
5 Years: 29%
3 Years: 4%
TTM: 10%
Compounded Profit Growth
10 Years: 14%
5 Years: -4%
3 Years: -22%
TTM: 16%
Stock Price CAGR
10 Years: 23%
5 Years: -14%
3 Years: -18%
1 Year: -31%
Return on Equity
10 Years: 16%
5 Years: 14%
3 Years: 11%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 3 3 3 3 3 3 3 3 9 9 9 9
Reserves 148 164 191 225 266 326 403 524 792 955 1,014 1,196
0 0 0 0 0 34 633 636 973 906 850 1,041
84 89 125 161 165 166 1,342 1,554 1,582 1,292 1,217 1,778
Total Liabilities 234 256 318 389 434 530 2,381 2,717 3,355 3,162 3,090 4,024
46 53 61 71 78 134 1,043 1,002 1,224 1,251 1,165 1,497
CWIP 5 4 2 7 5 2 4 13 13 27 12 20
Investments 12 14 46 51 48 36 1 0 0 0 0 3
171 184 209 260 303 358 1,332 1,703 2,118 1,884 1,913 2,503
Total Assets 234 256 318 389 434 530 2,381 2,717 3,355 3,162 3,090 4,024

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
30 25 22 68 27 27 157 236 185 284 378 389
-17 -17 -21 -24 -8 -50 -66 -134 -294 -32 -52 -154
-6 -6 -6 -8 -10 -5 105 -55 130 -244 -201 -44
Net Cash Flow 8 2 -5 35 9 -28 196 47 21 8 125 191
Free Cash Flow 23 11 8 44 13 -9 79 108 161 221 318 367
CFO/OP 115% 98% 77% 133% 63% 45% 128% 109% 60% 79% 126% 114%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 45 61 72 45 49 46 113 51 50 46 44 48
Inventory Days 202 214 201 207 181 181 470 241 220 165 157 167
Days Payable 97 93 133 132 100 92 246 141 153 106 116 123
Cash Conversion Cycle 150 182 140 121 130 134 337 151 117 105 85 92
Working Capital Days 46 51 65 43 56 70 79 42 36 36 33 23
ROCE % 20% 19% 22% 29% 29% 31% 15% 13% 22% 19% 13% 14%

Insights

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Number of Manufacturing Facilities
Number
Capacity Utilization (Glass-Lined Equipment)
%
Domestic Market Share (Glass-Lined Equipment - India)
%
Global Market Share (Glass-Lined Equipment)
%
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
38.74% 25.18% 25.18% 25.18% 25.18% 25.18% 25.18% 25.18% 25.18% 25.18% 25.18% 25.18%
18.84% 26.49% 22.58% 22.15% 22.20% 14.62% 19.67% 20.75% 21.03% 20.77% 17.73% 17.15%
10.75% 12.58% 13.10% 13.06% 14.51% 15.80% 14.45% 15.42% 15.74% 16.20% 16.30% 17.58%
31.67% 35.75% 39.12% 39.61% 38.11% 44.40% 40.71% 38.64% 38.04% 37.84% 40.79% 40.09%
No. of Shareholders 1,12,8951,17,4521,29,8181,30,3101,27,1941,20,9201,11,2601,07,1851,03,71598,59995,57496,506

* 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.

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