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Consolidated net sales (including other operating income) of GMM Pfaudler for the quarter ended Sep 2024 has declined 14.09% to Rs 805.42 crore. Sales of India segment has gone down 16.57% to Rs 196.24 crore (accounting for 24.36% of total sales). Sales of Overseas segment has gone down 13.26% to Rs 609.18 crore (accounting for 75.64% of total sales). Profit before interest, tax and other unallocable items (PBIT) has slumped 48.03% to Rs 59.50 crore. PBIT of India segment fell 43.71% to Rs 16.83 crore (accounting for 28.29% of total PBIT). PBIT of Overseas segment fell 49.56% to Rs 42.67 crore (accounting for 71.71% of total PBIT). PBIT margin of India segment fell from 12.71% to 8.58%. PBIT margin of Overseas segment fell from 12.05% to 7.00%. Overall PBIT margin fell from 12.21% to 7.39%. Operating profit margin has declined from 15.15% to 11.61%, leading to 34.17% decline in operating profit to Rs 93.49 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 39.58% to 37.25%. Employee cost increased from 24.88% to 28.68%. Other expenses rose from 19.50% to 21.86%. Contract job process charges fell from 2.91% to 2.61%. PBIDT fell 38.37% to Rs 92.76 crore. Provision for interest rose 23.06% to Rs 26.47 crore. PBDT fell 48.62% to Rs 66.29 crore. Provision for depreciation fell 7.66% to Rs 33.26 crore. Profit before tax down 64.48% to Rs 33.03 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 15.75 crore, compared to Rs 25.52 crore. Effective tax rate was 47.68% compared to 27.44%. Net profit attributable to owners of the company decreased 74.73% to Rs 17.26 crore. For year-to-date (YTD) results analysis.
Net sales (including other operating income) of GMM Pfaudler has declined 14.01% to Rs 1590.62 crore. Sales of India segment has gone down 17.56% to Rs 409.28 crore (accounting for 25.73% of total sales). Sales of Overseas segment has gone down 12.71% to Rs 1,181.34 crore (accounting for 74.27% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 41.54% to Rs 125.64 crore. PBIT of India segment fell 42.83% to Rs 38.63 crore (accounting for 30.75% of total PBIT). PBIT of Overseas segment fell 40.95% to Rs 87.01 crore (accounting for 69.25% of total PBIT). PBIT margin of India segment fell from 13.61% to 9.44%. PBIT margin of Overseas segment fell from 10.89% to 7.37%. Overall PBIT margin fell from 11.62% to 7.90%. Operating profit margin has declined from 14.71% to 11.44%, leading to 33.13% decline in operating profit to Rs 182.02 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 38.95% to 40.35%. Employee cost increased from 25.31% to 27.51%. Other expenses rose from 20.24% to 20.83%. Contract job process charges fell from 3.05% to 2.68%. Other income fell 45.90% to Rs 9.31 crore. PBIDT fell 33.89% to Rs 191.33 crore. Provision for interest rose 23.08% to Rs 51.47 crore. Loan funds declined from Rs 984.88 crore as of 30 September 2023 to Rs 936.13 crore as of 30 September 2024. Inventories declined from Rs 697.77 crore as of 30 September 2023 to Rs 657.17 crore as of 30 September 2024. Sundry debtors were lower at Rs 411.96 crore as of 30 September 2024 compared to Rs 465.09 crore as of 30 September 2023. Cash and bank balance rose to Rs 401.47 crore as of 30 September 2024 from Rs 306.16 crore as of 30 September 2023. Investments stood at Rs 0.01 crore as of 30 September 2024 to Rs 0.01 crore as of 30 September 2023. PBDT fell 43.51% to Rs 139.86 crore. Provision for depreciation fell 11.80% to Rs 65.69 crore. Fixed assets declined from Rs 1,036.50 crore as of 30 September 2023 to Rs 652.13 crore as of 30 September 2024. Intangible assets increased from Rs 149.29 crore to Rs 598.31 crore. Profit before tax down 57.15% to Rs 74.17 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 33.01 crore, compared to Rs 55.63 crore. Effective tax rate was 44.51% compared to 32.14%.Minority interest increased 8.72% to Rs -1.36 crore. Net profit attributable to owners of the company decreased 64.25% to Rs 42.52 crore. Order book Q2 FY25 Order Intake steady at ?762 crore, H1 FY25 Order Intake at ?1,644 crore up 18% compared to H1
FY24. Order Backlog stands at ?1,773 crore, up 4% compared to September 30, 2023 Opportunity pipeline remains stable across geographies, product mix continues to evolve Management Comments :
Commenting on the Company’s Q2 FY25 results, Mr. Tarak Patel, Managing Director said, "We are pleased to report a stable performance this quarter despite a general slowdown in investments within the chemical and pharmaceutical sectors. As a result of our diversification strategy, which involves adding new products to our portfolio and developing new industry segments, we have seen an improvement in order intake which has helped us maintain our backlog.” He further added, "While the outlook remains muted for this financial year, we continue to focus our efforts on strengthening our market share, reducing costs and improving efficiencies."
Others Equity capital stood at Rs 8.99 crore as of 30 September 2024 to Rs 8.99 crore as of 30 September 2023. Per share face Value remained same at Rs 2.00. Promoters’ stake was 25.18% as of 30 September 2024 ,compared to 25.18% as of 30 September 2023 . Cash flow from operating activities has turned positive Rs 117.35 crore for YTD ended September 2024 from negative Rs 9.57 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 22.55 crore, compared to Rs 32.02 crore during the YTD ended September 2023.
| GMM Pfaudler : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 805.42 | 937.48 | -14.09 | 1,590.62 | 1,849.75 | -14.01 | 3,446.48 | 3,177.55 | 8.46 | | OPM (%) | 11.61 | 15.15 | -354 bps | 11.44 | 14.71 | -327 bps | 13.83 | 13.51 | 32 bps | | OP | 93.49 | 142.01 | -34.17 | 182.02 | 272.18 | -33.13 | 476.80 | 429.32 | 11.06 | | Other Inc. | -0.73 | 8.51 | PL | 9.31 | 17.21 | -45.90 | 20.02 | 51.69 | -61.27 | | PBIDT | 92.76 | 150.52 | -38.37 | 191.33 | 289.39 | -33.89 | 496.82 | 481.01 | 3.29 | | Interest | 26.47 | 21.51 | 23.06 | 51.47 | 41.82 | 23.08 | 94.77 | 66.57 | 42.36 | | PBDT | 66.29 | 129.01 | -48.62 | 139.86 | 247.57 | -43.51 | 402.05 | 414.44 | -2.99 | | Depreciation | 33.26 | 36.02 | -7.66 | 65.69 | 74.48 | -11.80 | 146.65 | 121.79 | 20.41 | | PBT | 33.03 | 92.99 | -64.48 | 74.17 | 173.09 | -57.15 | 255.4 | 292.65 | -12.73 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 33.03 | 92.99 | -64.48 | 74.17 | 173.09 | -57.15 | 255.4 | 292.65 | -12.73 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | -21.58 | - | | PBT after EO | 33.03 | 92.99 | -64.48 | 74.17 | 173.09 | -57.15 | 255.4 | 271.07 | -5.78 | | Taxation | 15.75 | 25.52 | -38.28 | 33.01 | 55.63 | -40.66 | 81.3 | 60.7 | 33.94 | | PAT | 17.28 | 67.47 | -74.39 | 41.16 | 117.46 | -64.96 | 174.1 | 210.37 | -17.24 | | Minority Interest (MI) | 0.02 | -0.83 | PL | -1.36 | -1.49 | 8.72 | -4.81 | 46.87 | LP | | Net profit | 17.26 | 68.3 | -74.73 | 42.52 | 118.95 | -64.25 | 178.91 | 163.5 | 9.43 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 17.26 | 68.3 | -74.73 | 42.52 | 118.95 | -64.25 | 178.91 | 163.5 | 9.43 | | EPS (Rs)* | 3.84 | 15.19 | -74.73 | 9.46 | 26.46 | -64.25 | 39.80 | 39.26 | 1.35 | | | * EPS is on current equity of Rs 8.99 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| GMM Pfaudler : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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| Sales | | India | 24.36 | 196.24 | 235.21 | -16.57 | 25.73 | 409.28 | 496.43 | -17.56 | 26.00 | 896.23 | 943.31 | -4.99 | | Overseas | 75.64 | 609.18 | 702.27 | -13.26 | 74.27 | 1,181.34 | 1,353.32 | -12.71 | 74.00 | 2,550.25 | 2,234.24 | 14.14 | | Total Reported Sales | 100.00 | 805.42 | 937.48 | -14.09 | 100.00 | 1,590.62 | 1,849.75 | -14.01 | 100.00 | 3,446.48 | 3,177.55 | 8.46 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 805.42 | 937.48 | -14.09 | 100.00 | 1,590.62 | 1,849.75 | -14.01 | 100.00 | 3,446.48 | 3,177.55 | 8.46 | | PBIT | | India | 28.29 | 16.83 | 29.90 | -43.71 | 30.75 | 38.63 | 67.57 | -42.83 | 32.13 | 112.52 | 163.49 | -31.18 | | Overseas | 71.71 | 42.67 | 84.60 | -49.56 | 69.25 | 87.01 | 147.34 | -40.95 | 67.87 | 237.65 | 178.32 | 33.27 | | Total PBIT | 100.00 | 59.50 | 114.50 | -48.03 | 100.00 | 125.64 | 214.91 | -41.54 | 100.00 | 350.17 | 341.81 | 2.45 | | Less : Interest | | 26.47 | 21.51 | 23.06 | | 51.47 | 41.82 | 23.08 | | 94.77 | 66.57 | 42.36 | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | India | | 8.58 | 12.71 | -413.58 | | 9.44 | 13.61 | -417.27 | | 12.55 | 17.33 | -477.67 | | Overseas | | 7.00 | 12.05 | -504.22 | | 7.37 | 10.89 | -352.19 | | 9.32 | 7.98 | 133.75 | | PBT | 100.00 | 33.03 | 92.99 | -64.48 | 100.00 | 74.17 | 173.09 | -57.15 | 100.00 | 255.40 | 275.24 | -7.21 |
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