GMM Pfaudler Ltd
GMM Pfaudler manufactures corrosion resistant glass-lined equipments [1]. It is a leading supplier of process equipments to the pharmaceutical and chemical industries [2]. Over the years GMMP has diversified its product portfolio to include Mixing Systems, Filtration & Drying Equipment, Engineered Systems and Heavy Engineering Equipments.
Strengths
- +Debtor days have improved from 57.2 to 43.6 days.
Weaknesses
- −Stock is trading at 4.80 times its book value
- −Promoter holding is low: 25.2%
- −Company has a low return on equity of 8.56% over last 3 years.
- −Promoter holding has decreased over last 3 years: -13.6%
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 25.18% | 25.18% | 25.18% | 25.18% | 25.18% | 25.18% | 25.18% | 25.18% |
| FIIs | 22.2% | 14.62%▼7.6 | 19.67%▲5.1 | 20.75%▲1.1 | 21.03%▲0.3 | 20.77%▼0.3 | 17.73%▼3.0 | 17.15%▼0.6 |
| DIIs | 14.51% | 15.8%▲1.3 | 14.45%▼1.4 | 15.42%▲1.0 | 15.74%▲0.3 | 16.2%▲0.5 | 16.3%▲0.1 | 17.58%▲1.3 |
| Public | 38.11% | 44.4%▲6.3 | 40.71%▼3.7 | 38.64%▼2.1 | 38.04%▼0.6 | 37.84%▼0.2 | 40.79%▲2.9 | 40.09%▼0.7 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 266.31 | 259.62 | 224.53 | 223.09 | 208.02 | 237.8 | 252.22 | 231.19 | 271.73 | 242.42 |
| Expenses | 227.71 | 228.04 | 196.12 | 198.01 | 185.61 | 209.04 | 218.09 | 194.87 | 232.63 | 208.83 |
| Operating Profit | 38.6 | 31.58 | 28.41 | 25.08 | 22.41 | 28.76 | 34.13 | 36.32 | 39.1 | 33.59 |
| OPM % | 14.49% | 12.16% | 12.65% | 11.24% | 10.77% | 12.09% | 13.53% | 15.71% | 14.39% | 13.86% |
| Net Profit | 15.78 | 10.8 | 7.61 | 7.54 | 7.82 | 11.74 | 15.15 | 16.7 | 20.29 | 5.9 |
| EPS ₹ | 3.51 | 2.4 | 1.69 | 1.68 | 1.74 | 2.61 | 3.37 | 3.71 | 4.51 | 1.31 |
AI Insights
TTM revenue at ₹998Cr, up 8.4% YoY. OPM at 14%.
Borrowings at ₹289Cr. Debt-to-equity ratio: 0.36x. Healthy balance sheet.
CWIP at ₹6Cr (3% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 17.58% (+6.83pp change). FIIs: 17.15% (-1.69pp change). Promoters hold 25.18%.
ROCE declining from 20% (Mar 2014) to 8% (Mar 2025). Working capital days: 56.
PE 57x with 8.19% ROCE. Price is 377% above book value of ₹182. Dividend yield: 0.22%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 May - Earnings Call Intimation on financial results for the fourth quarter and financial year ended March 31, 2026, to be held on May 21, 2026, at …
- Board Meeting Intimation for Approval Of FY26 Financial Results And Final Dividend 8 May - Board meets May 21, 2026 to approve FY26 audited results and consider final dividend.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 13 Apr - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026; no demat or remat requests received.
- Closure of Trading Window 30 Mar
- Reconstitution Of Board Committees 26 Mar - GMM Pfaudler reconstituted Audit, NRC, Risk, CSR, Stakeholders committees effective April 1, 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse