GMM Pfaudler reports earnings for Q1FY21

GMM Pfaudler (GMMP) a leading supplier of process equipment to the pharmaceutical and chemical industry segments today announced its first quarter (Q1FY21) results for the period ended June 30, 2020.

Financial Performance

Standalone Q1FY21 review (Q/Q %)

- Operating revenue increased to Rs.1,309mn, up 15.4% versus Rs.1,134mn during Q4 of last year.
- EBITDA improved to Rs.243mn, up 20.5% versus Rs.202mn during Q4 of last year.
- EBITDA Margin improved to 18.6% versus 17.8% in Q4 of last year.
- Net profit increased to Rs.164mn, up 63.0% versus Rs.100mn during Q4 of last year.

Standalone Q1FY21 review (Y/Y %)

- Operating revenue increased to Rs.1,309mn, up 0.5% versus Rs.1,303mn during Q1 of last year.
- EBITDA improved to Rs.243mn, up 1.5% versus Rs.239mn during Q1 of last year.
- EBITDA Margin improved to 18.6% versus 18.4% in Q1 of last year.
- Net profit increased to Rs.164mn, up 11.5% versus Rs.147mn during Q1 of last year.

Consolidated Q1FY21 review (Q/Q %)

- Operating revenue increased to Rs.1,544mn, up 17.2% versus Rs.1,318mn during Q4 of last year.
- EBITDA improved to Rs.275mn, up 22.3% versus Rs.225mn during Q4 of last year.
- EBITDA Margin improved to 17.8% versus 17.1% in Q4 of last year.
- Net profit increased to Rs.192mn, up 65.5% versus Rs.116mn during Q4 of last year.

Consolidated Q1FY21 review (Y/Y %)

- Operating revenue increased to Rs.1,544mn, up 2.8% versus Rs.1,503mn during Q1 of last year.
- EBITDA remained flat at Rs.275mn versus Rs.276mn during Q1 of last year.
- EBITDA Margin declined to 17.8% versus 18.4% in Q1 of last year.
- Net profit increased to Rs.192mn, up 8.5% versus Rs.177mn during Q1 of last year.

Commenting on the Company's performance for the quarter, Mr. Tarak Patel, Managing Director said "We are pleased to start the fiscal year on a positive note with a solid performance in this quarter. Despite external challenges related to the coronavirus pandemic and the subsequent nationwide lockdown, we were able to quickly ramp up our production activities and make a strong recovery. All our business lines continue to witness strong traction on the back of robust demand driven by the Chemical and Pharmaceutical industries. We are also pleased to announce that we have received approval to sign definitive documents with De Dietrich Process Systems India Pvt. Ltd. ("DDPSI") for the acquisition of their Glass Lined Equipment manufacturing facility in Hyderabad, Telangana which will help us further strengthen our presence in the region."

Shares of GMM PFAUDLER LTD. was last trading in BSE at Rs.4142 as compared to the previous close of Rs. 4268.65. The total number of shares traded during the day was 4728 in over 1665 trades.

The stock hit an intraday high of Rs. 4378 and intraday low of 4066.55. The net turnover during the day was Rs. 19689614.

Source : Equity Bulls

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