- Consolidated sales was up by 22% to Rs 186.25 crore. Upside in sales was largely due to strong growth in revenue from Glass Line Equipment (GLE) and Proprietary Products (PP). While the revenue of GLE was up by 11% to Rs 93.63 crore (or 50% of sales), that of PP was up by 59% to Rs 77.49 crore (or 42% of sales). However the revenue of Heavy Engineering (HE) was down by 25% to Rs 15.13 crore.
- EBIT was up by 23% to Rs 37.38 crore driven by sharp jump in profit of GLE as well as that of PP. Segment profit of GLE was up by 41% to Rs 26.63 crore led by higher sales and sharp 600 bps expansion in segment margin to 28.4%. The segment profit of PP was up by 12% to Rs 10.23 crore driven largely by higher sales as its segment margin contract by 540 bps to 13.2%. The segment profit of HE was down by 79% to Rs 0.51 crore, hit by lower sales and lower margin.
- Other income jumped by 610% to Rs 2.01 crore. The interest cost was up by 68% to Rs 1.77 crore and the depreciation was up by 20% to Rs 6.13 crore. Thus the PBT was up by 35% to Rs 33.54 crore.
- With taxation (net of deferred tax) for the period being up by 68% to Rs 6.69 crore, the PAT was up by 29% to Rs 26.85 crore.
Half Yearly performance
Consolidated sales for the period was up by 12% to Rs 340.69 crore despite losing 25 days of operation due to COVID lockdown. With OPM expand by 40 bps to 19.6%, the operating profit was up by 15% to Rs 66.93 crore. However the growth at PBT was 16% to Rs 56.61 crore gained by higher OI. Eventually the PAT was up by 20% to Rs 46.05 crore as tax rates stand lower even though the taxation stand higher by 2% to Rs 10.57 crore.
Segment profit of GL was up by 10% (to Rs 41.36 crore) led by 340 bps expansion in segment margin as its sales was down by 5% to Rs 170.84 crore. However the segment profit of HE jumped by 261% to Rs 9.42 crore driven by higher sales (up 114% to Rs 56.85 crore)and higher segment margin (up 670 bps to 16.6%). The PP registered 21% fall in segment profit to Rs 13.08 crore, hit by sharp 550 bps crash in margin to 11.6% even as its sales was up by 17% to Rs 113 crore.
Commenting on the Companys performance for Q2FY21, Tarak Patel, Managing Director said This has been a very strong quarter for us where we have managed to significantly improve revenue and profitability. The improvement in profitability is expected to continue on the back of incremental revenue, operating leverage, and some of our strategic initiatives paying off. Our Hyderabad manufacturing facility is now up and running and we expect to close the Pfaudler Inc acquisiton by the end of the year. He added, We remain confident on the long term prospects of the Company.
GMM Pfaudler : Consolidated Results
|2009 (3)||1909 (3)||Var. (%)||2009 (6)||1909 (6)||Var. (%)||2003 (12)||1903 (12)||Var.(%)|
|* Annualized On Current Equity Of Rs 2.923 Crore. Face Value: Rs 2|
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database
GMM Pfaudler: Consoldiated Segment Results
|Segment||2009 (3)||1909 (3)||Var. (%)||% to total||% to total||2009 (6)||1909 (6)||Var. (%)||% to total||2003 (12)||1903 (12)||Var.(%)||% to total|
|Inter Segment Revenue|
|LESS: Interest expenes||1.77||1.06||68||2.94||1.65||78||3.49||1.17||198|
|Other income & unallocable expenses||2.07||4.56||-55||4.31||6.27||-31||13.74||7.38|
|PBT before EO||33.54||24.77||35||56.61||48.80||16||92.29||73.27||26|
|Note: Figures in Rs crore|
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