GMM Pfaudler spurts after Q2 PAT rises 29% to Rs 35 cr

GMM Pfaudler rose 3.10% to Rs 4775.70 after the company's consolidated net profit rose 28.82% to Rs 34.60 crore on 247.51% increase in net sales to Rs 647.24 crore in Q2 September 2021 over Q2 September 2020.

On a consolidated basis, profit before tax (PBT) rose 65.89% to Rs 55.64 crore in Q2 September 2021 over Q2 September 2020. EBITDA jumped 138% YoY to Rs 94 crore during the quarter.

The company's cost of raw material surged 193.03% year-on-year to Rs 236.21 crore. Employee expense soared 502.78% to Rs 173.30 in Q2 September 2021 over Q2 September 2020.

The board has announced a second interim dividend of Re 1 per share for the current financial year 2021-22. The record date has been fixed on 11 November 2021.

Commenting on the company's Q2FY22 results, Tarak Patel, managing director said, "We are pleased to announce a strong topline growth driven by India, China and Germany. Order intake continues to remain strong giving us a healthy backlog across geographies. Our acquistion synergies have started taking shape resulting in improvement in earnings and the outlook remains positive."

Meanwhile, the company's board approved appointment of Aseem Joshi as the CEO and key managerial personnel of the company with effect from 8 November 2021.

GMM Pfaudler is a global and diverse company. Its broad portfolio includes fluoropolymers, filtration & drying, engineered column systems, lab & process glass, sealing technology and glass-lined & alloy systems.

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