GMM Pfaudler - Q2FY21 Results - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"GMM Pfaudler reported a 13.3% YoY growth in standalone revenues to ₹154 crore for Q2FY21, as compared to revenues of ₹130.9 crore for Q2FY20. EBIDTA for the quarter stood at ₹36.7 crore up by 38% YoY while EBIDTA margins expanded by ~ 400bps YoY to 24.0%. Net profit for the quarter was up by 39% YoY to ₹25.1 crore as compared to profit of ₹18.0 crore in the corresponding quarter previous year. Revenue growth was driven by the Proprietary Products segment which registered a growth of 42.4% YoY to ₹45.4 crore. Glass Lined Equipment (GLE) grew by 11.5% YoY to ₹93.6 crore while Heavy engineering business reported a de-growth of 25.3% to ₹ 15.1 crore. Improvement in overall margins for the company was led by the GLE segment which reported EBIT margins of 26.6% during the quarter as compared to 18.9% in the corresponding quarter last year. The management has guided that the margins are likely to sustain for the rest of the year in the GLE segment. Overall the company reported a good set of numbers for the quarter."

Shares of GMM PFAUDLER LTD. was last trading in BSE at Rs.3591.65 as compared to the previous close of Rs. 3612.65. The total number of shares traded during the day was 9098 in over 3054 trades.

The stock hit an intraday high of Rs. 3645 and intraday low of 3550. The net turnover during the day was Rs. 32770032.

Source : Equity Bulls

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