BSE: 505255 | NSE: GMMPFAUDLR | Engineering - Industrial Equipments | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that GMM Pfaudler Ltd is a good quality company.
The key valuation ratios of GMM Pfaudler Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GMM Pfaudler Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 19.8% | 19.2% | 24.9% | 29.3% | 30% | 31.4% | 12.6% | 16.4% | 25.7% | 21.4% | - |
| Value Creation Index ⓘ | 0.4 | 0.4 | 0.8 | 1.1 | 1.1 | 1.3 | -0.1 | 0.2 | 0.9 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 308 | 292 | 353 | 406 | 503 | 591 | 1,001 | 2,541 | 3,178 | 3,446 | 3,187 |
| Sales YoY Gr. | - | -5.1% | 20.9% | 14.9% | 23.9% | 17.6% | 69.4% | 153.8% | 25.1% | 8.5% | - |
| Adj EPS ⓘ | 4.6 | 4.8 | 6.7 | 8.9 | 10.8 | 16 | 20 | 19.5 | 32.7 | 39.4 | 23.4 |
| YoY Gr. | - | 3.9% | 40.6% | 33.8% | 20.9% | 48.4% | 24.8% | -2.7% | 67.9% | 20.5% | - |
| BVPS (₹) ⓘ | 34.3 | 38.1 | 44.2 | 51.9 | 61.3 | 75.1 | 92.8 | 120.2 | 177.4 | 214 | 229.2 |
| Adj Net Profit ⓘ | 20 | 20.9 | 29.3 | 39.2 | 47.4 | 70.4 | 87.7 | 85.4 | 147 | 177 | 105 |
| Cash Flow from Ops. ⓘ | 30.1 | 24.7 | 22.5 | 67.7 | 27 | 26.7 | 157 | 236 | 185 | 284 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0.4 | 3.1 | 2.1 | 4.3 | 2.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 30.8% | 47% | 51% | 8.5% | ||||
| Adj EPS ⓘ | 27% | 29.5% | 25.3% | 20.5% | ||||
| BVPSⓘ | 22.6% | 28.4% | 32.2% | 20.7% | ||||
| Share Price | 30.8% | 16.4% | -8.6% | -24.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 13.9 | 13.1 | 16.2 | 18.6 | 19.1 | 23.5 | 23.9 | 18.3 | 22.1 | 20 | 10.6 |
| Op. Profit Mgn % ⓘ | 11.9 | 12.5 | 13.5 | 15.3 | 15.3 | 19 | 13.9 | 11.2 | 13.5 | 13.7 | 12.1 |
| Net Profit Mgn % ⓘ | 6.5 | 7.1 | 8.2 | 9.7 | 9.4 | 11.9 | 7.8 | 3 | 6.1 | 5 | 3.3 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 1.2 | 1 | 1 | 0.7 | 0.5 |
| Working Cap Days ⓘ | 149 | 150 | 165 | 197 | 180 | 183 | 266 | 181 | 187 | 183 | 110 |
| Cash Conv. Cycle ⓘ | 91 | 87 | 78 | 68 | 62 | 69 | 89 | 80 | 64 | 60 | 41 |
Sales growth is growing at healthy rate in last 3 years 51.00%
Net Profit is growing at healthy rate in last 3 years 25.33%
Debt to equity has declined versus last 3 years average to 0.74
Return on Equity has declined versus last 3 years average to 10.60%
Sales growth is not so good in last 4 quarters at -8.61%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.5 | 23.4 |
| TTM Sales (₹ Cr.) | 915 | 3,187 |
| BVPS (₹.) ⓘ | 169.6 | 229.2 |
| Reserves (₹ Cr.) ⓘ | 754 | 1,022 |
| P/BV ⓘ | 7.12 | 5.27 |
| PE ⓘ | 160.71 | 51.54 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1145.00 / 1663.80 |
| All Time Low / High (₹) | 3.07 / 2304.62 |
| Market Cap (₹ Cr.) | 5,427 |
| Equity (₹ Cr.) | 9 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 57.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 308 | 292 | 353 | 406 | 503 | 591 | 1,001 | 2,541 | 3,178 | 3,446 |
| Operating Expenses ⓘ | 273 | 257 | 306 | 344 | 426 | 480 | 862 | 2,257 | 2,748 | 2,973 |
| Manufacturing Costs | 55 | 53 | 62 | 78 | 79 | 96 | 127 | 287 | 358 | 369 |
| Material Costs | 134 | 121 | 149 | 169 | 233 | 254 | 448 | 1,014 | 1,283 | 1,379 |
| Employee Cost | 56 | 56 | 66 | 64 | 73 | 88 | 207 | 713 | 792 | 904 |
| Other Costs ⓘ | 28 | 28 | 28 | 34 | 41 | 42 | 81 | 242 | 315 | 321 |
| Operating Profit ⓘ | 35 | 35 | 48 | 62 | 77 | 111 | 139 | 284 | 429 | 473 |
| Operating Profit Margin (%) | 11.3% | 12.0% | 13.5% | 15.3% | 15.3% | 18.8% | 13.9% | 11.2% | 13.5% | 13.7% |
| Other Income ⓘ | 4 | 4 | 6 | 9 | 9 | 6 | 23 | 7 | 52 | 23 |
| Interest ⓘ | 1 | 1 | 1 | 1 | 1 | 3 | 10 | 25 | 67 | 95 |
| Depreciation ⓘ | 10 | 8 | 8 | 10 | 11 | 21 | 50 | 133 | 122 | 147 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -34 | 0 | -22 | 0 |
| Profit Before Tax ⓘ | 28 | 30 | 44 | 61 | 73 | 92 | 68 | 133 | 271 | 255 |
| Tax ⓘ | 9 | 10 | 13 | 18 | 23 | 21 | 5 | 58 | 61 | 81 |
| Profit After Tax | 19 | 20 | 31 | 43 | 51 | 71 | 64 | 75 | 210 | 174 |
| PAT Margin (%) | 6.1% | 6.9% | 8.8% | 10.5% | 10.1% | 12.0% | 6.3% | 3.0% | 6.6% | 5.1% |
| Adjusted EPS (₹) | 4.3 | 4.6 | 7.2 | 9.7 | 11.5 | 16.2 | 16.8 | 19.4 | 36.4 | 39.8 |
| Dividend Payout Ratio (%) | 23% | 22% | 19% | 14% | 13% | 10% | 10% | 10% | 6% | 5% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 150 | 167 | 194 | 228 | 269 | 329 | 406 | 527 | 797 | 962 |
| Share Capital ⓘ | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 9 | 9 |
| Reserves ⓘ | 148 | 164 | 191 | 225 | 266 | 326 | 403 | 524 | 788 | 953 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 116 | 141 | 11 | 6 |
| Debt | 0 | 0 | 0 | 0 | 0 | 11 | 458 | 450 | 695 | 600 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 443 | 450 | 641 | 501 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 11 | 15 | 0 | 55 | 98 |
| Trade Payables | 36 | 31 | 55 | 61 | 64 | 64 | 302 | 391 | 537 | 402 |
| Others Liabilities ⓘ | 48 | 58 | 103 | 146 | 132 | 179 | 1,196 | 1,349 | 1,448 | 1,233 |
| Total Liabilities ⓘ | 234 | 256 | 351 | 434 | 465 | 583 | 2,478 | 2,858 | 3,488 | 3,204 |
Fixed Assets | ||||||||||
| Gross Block | 112 | 125 | 69 | 88 | 103 | 177 | 1,137 | 1,260 | 1,564 | 1,679 |
| Accumulated Depreciation | 66 | 72 | 8 | 18 | 25 | 44 | 94 | 258 | 340 | 446 |
| Net Fixed Assetsⓘ | 46 | 53 | 61 | 71 | 78 | 134 | 1,043 | 1,002 | 1,224 | 1,233 |
| CWIP ⓘ | 5 | 4 | 2 | 7 | 5 | 2 | 4 | 13 | 13 | 27 |
| Investmentsⓘ | 12 | 14 | 46 | 51 | 48 | 36 | 1 | 0 | 0 | 0 |
| Inventories | 74 | 71 | 82 | 96 | 115 | 126 | 576 | 670 | 773 | 625 |
| Trade Receivables | 38 | 49 | 70 | 51 | 67 | 74 | 310 | 356 | 436 | 433 |
| Cash Equivalents | 47 | 54 | 32 | 67 | 76 | 76 | 292 | 328 | 372 | 344 |
| Others Assetsⓘ | 12 | 11 | 58 | 93 | 76 | 135 | 251 | 490 | 671 | 542 |
| Total Assets ⓘ | 234 | 256 | 351 | 434 | 465 | 583 | 2,478 | 2,858 | 3,488 | 3,204 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 30 | 25 | 22 | 68 | 27 | 27 | 157 | 236 | 185 | 284 |
| PBT ⓘ | 28 | 30 | 44 | 61 | 73 | 92 | 68 | 133 | 271 | 255 |
| Adjustment ⓘ | 7 | 6 | 5 | 3 | 7 | 36 | 109 | 180 | 205 | 249 |
| Changes in Working Capital ⓘ | 6 | -2 | -13 | 19 | -33 | -77 | 1 | -5 | -217 | -126 |
| Tax Paid ⓘ | -11 | -10 | -14 | -15 | -21 | -24 | -22 | -72 | -75 | -94 |
| Cash Flow From Investing Activity ⓘ | -15 | -18 | -21 | -24 | -8 | -50 | -66 | -117 | -311 | -32 |
| Capex | -7 | -14 | -14 | -23 | -14 | -35 | -78 | -129 | -23 | -63 |
| Net Investments | -9 | -7 | -9 | -2 | 5 | 12 | 32 | 12 | -110 | 17 |
| Others ⓘ | 2 | 3 | 2 | 1 | 0 | -27 | -20 | 0 | -177 | 14 |
| Cash Flow From Financing Activityⓘ | -6 | -6 | -6 | -8 | -10 | -5 | 105 | -55 | 130 | -244 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 128 | 10 | 171 | -145 |
| Interest Paid ⓘ | -1 | -1 | -1 | -1 | -1 | -1 | -8 | -19 | -58 | -88 |
| Dividend Paid ⓘ | -4 | -4 | -4 | -6 | -7 | -7 | -7 | -7 | -9 | -9 |
| Others ⓘ | -1 | -1 | -1 | -1 | -1 | 3 | -7 | -40 | 25 | -2 |
| Net Cash Flow ⓘ | 9 | 1 | -5 | 35 | 9 | -28 | 196 | 65 | 4 | 8 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 13.04 | 12.68 | 17.26 | 20.25 | 20.37 | 23.79 | 17.29 | 16.16 | 31.78 | 19.79 |
| ROCE (%) | 19.84 | 19.22 | 24.93 | 29.26 | 29.98 | 31.44 | 12.64 | 16.37 | 25.68 | 21.37 |
| Asset Turnover Ratio | 1.37 | 1.26 | 1.25 | 1.06 | 1.12 | 1.13 | 0.66 | 0.96 | 1 | 1.04 |
| PAT to CFO Conversion(x) | 1.58 | 1.25 | 0.71 | 1.58 | 0.53 | 0.38 | 2.45 | 3.15 | 0.88 | 1.63 | Working Capital Days |
| Receivable Days | 46 | 51 | 57 | 53 | 43 | 44 | 69 | 48 | 45 | 46 |
| Inventory Days | 90 | 86 | 74 | 78 | 76 | 74 | 127 | 89 | 83 | 74 |
| Payable Days | 88 | 100 | 104 | 125 | 98 | 92 | 149 | 125 | 132 | 123 |
GMM Pfaudler was established in 1962 as Gujarat Machinery Manufacturers and listed on the Bombay Stock exchange. In 1987 Pfaudler Inc., USA the world leader in Glass Lined equipment subscribed to 40% equity to form a joint venture. Pfaudler Inc. further increased their stake to 51% in 1999 and the name of the company was changed to GMM Pfaudler Ltd.
With over five decades of manufacturing experience, GMM Pfaudler is a well-established and financially stable company. With a market share of more than 50% in Glass Lined equipment, GMM Pfaudler is the market leader in India.
Over the years GMM Pfaudler has diversified its product portfolio to include Mixing Systems, Filtration & Drying Equipment, Engineered Systems and Tailor Made Process Equipment.
In 2008, GMM Pfaudler acquired Mavag AG, Switzerland. Mavag supplies highly engineered equipment for critical Filtration, Drying and Mixing applications to the Pharmaceutical and Biotech industries. For more information about Mavag AG please visit: www.mavag.com
In 2015, Deutsche Beteiligungs AG (DBAG) a leading German private equity company acquired Pfaudler Inc., USA. For more information about DBAG please visit: www.dbag.de
A truly world class organization, GMM Pfaudler is an ISO 9001 company. The company has been accredited by ASME for the manufacture and repair of pressure vessels under ‘U’ Stamp, 'U2' Stamp and ‘R’ Stamp, by TUV Nord for the manufacture of pressure vessels under CE 0045 (PED 2014/68/EU, Module H/H1) and AD 2000-Merkblatt HP0.
It has also been approved by Special Equipment Licensing Office (SELO) for the supply of pressure vessels to the People’s Republic of China and by Korean Gas Safety Corporation (KGS) for the supply of pressure vessels to the Republic of Korea. Its welding workshop has been verified and recognized based on the requirements of the standard DIN EN ISO 3834-2 (EN 729-2) by TUV Nord.
Business area of the company
The company is a leading supplier of engineered equipment and systems for critical applications in the global chemical and pharmaceutical markets.
Products
Accreditations
Milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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