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GMM PFAUDLER 2021-22 Annual Report Analysis
Fri, 2 Sep

GMM PFAUDLER has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

GMM PFAUDLER Income Statement Analysis

  • Operating income during the year rose 153.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 169.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 11.2% in FY22 as against 10.5% in FY21.
  • Depreciation charges increased by 162.7% and finance costs increased by 141.7% YoY, respectively.
  • Other income declined by 71.3% YoY.
  • Net profit for the year grew by 18.6% YoY.
  • Net profit margins during the year declined from 6.3% in FY21 to 3.0% in FY22.

GMM PFAUDLER Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 10,011 25,406 153.8%
Other income Rs m 235 67 -71.3%
Total Revenues Rs m 10,246 25,473 148.6%
Gross profit Rs m 1,052 2,839 169.7%
Depreciation Rs m 505 1,326 162.7%
Interest Rs m 102 246 141.7%
Profit before tax Rs m 681 1,334 96.0%
Tax Rs m 45 580 1,186.5%
Profit after tax Rs m 636 754 18.6%
Gross profit margin % 10.5 11.2
Effective tax rate % 6.6 43.5
Net profit margin % 6.3 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GMM PFAUDLER Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 11 billion as compared to Rs 9 billion in FY21, thereby witnessing an increase of 19.9%.
  • Long-term debt stood at Rs 4 billion as compared to Rs 4 billion during FY21, a growth of 1.6%.
  • Current assets rose 20% and stood at Rs 17 billion, while fixed assets rose 9% and stood at Rs 11 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 29 billion as against Rs 25 billion during FY21, thereby witnessing a growth of 15%.

GMM PFAUDLER Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 4,062 5,266 29.6
 
Current Liabilities Rs m 9,095 10,909 19.9
Long-term Debt Rs m 4,428 4,496 1.6
Total Liabilities Rs m 24,776 28,582 15.4
 
Current assets Rs m 14,194 17,088 20.4
Fixed Assets Rs m 10,582 11,494 8.6
Total Assets Rs m 24,776 28,582 15.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GMM PFAUDLER Cash Flow Statement Analysis

  • GMM PFAUDLER's cash flow from operating activities (CFO) during FY22 stood at Rs 2 billion, an improvement of 50.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -1 billion, an improvement of 76.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -553 million on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 471 million from the Rs 2 billion net cash flows seen during FY21.

GMM PFAUDLER Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 1,567 2,364 50.8%
Cash Flow from Investing Activities Rs m -660 -1,166 -
Cash Flow from Financing Activities Rs m 1,049 -553 -
Net Cash Flow Rs m 1,957 471 -75.9%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GMM PFAUDLER

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 51.5, an improvement from the EPS of Rs 43.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,740.8, stands at 49.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 14.5 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 11.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 684.8 1,737.7
TTM Earnings per share Rs 43.5 51.5
Diluted earnings per share Rs 14.5 17.2
Price to Cash Flow x 55.1 11.0
TTM P/E ratio x 98.9 49.2
Price / Book Value ratio x 16.7 4.3
Market Cap Rs m 67,886 22,813
Dividends per share (Unadj.) Rs 5.0 6.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GMM PFAUDLER

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY22, from 1.6x during FY21. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 6.4x during FY22, from 7.7x during FY21. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 14.3% during FY22, from 15.6% during FY22. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 16.2% during FY22, from 9.2% during FY21. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company improved and stood at 3.5% during FY22, from 3.0% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.6 1.6
Debtors’ Days Days 11 5
Interest coverage x 7.7 6.4
Debt to equity ratio x 1.1 0.9
Return on assets % 3.0 3.5
Return on equity % 15.6 14.3
Return on capital employed % 9.2 16.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GMM PFAUDLER has performed over the last 5 years, please visit here.

GMM PFAUDLER Share Price Performance

Over the last one year, GMM PFAUDLER share price has moved up from Rs 1,445.5 to Rs 1,740.8, registering a gain of Rs 295.4 or around 20.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 32,850.4 (up 1.2%). Over the last one year it has moved up from 25,376.4 to 32,850.4, a gain of 7,474 points (up 29.5%).

Overall, the S&P BSE SENSEX is up 3.4% over the year.

(To know more, check out historical annual results for GMM PFAUDLER and quarterly results for GMM PFAUDLER)

Annual Report FAQs

What is the current share price of GMM PFAUDLER?

GMM PFAUDLER currently trades at Rs 0.0 per share. You can check out the latest share price performance of GMM PFAUDLER here...

What was the revenue of GMM PFAUDLER in FY22? How does it compare to earlier years?

The revenues of GMM PFAUDLER stood at Rs 25,473 m in FY22, which was up 148.6% compared to Rs 10,246 m reported in FY21.

GMM PFAUDLER's revenue has grown from Rs 4,099 m in FY18 to Rs 25,473 m in FY22.

Over the past 5 years, the revenue of GMM PFAUDLER has grown at a CAGR of 57.9%.

What was the net profit of GMM PFAUDLER in FY22? How does it compare to earlier years?

The net profit of GMM PFAUDLER stood at Rs 754 m in FY22, which was up 18.6% compared to Rs 636 m reported in FY21.

This compares to a net profit of Rs 711 m in FY20 and a net profit of Rs 506 m in FY19.

Over the past 5 years, GMM PFAUDLER net profit has grown at a CAGR of 15.3%.

What does the cash flow statement of GMM PFAUDLER reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of GMM PFAUDLER reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 2,364 m as compared to Rs 1,567 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -1,166 m as compared to Rs -660 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -553 m as compared to Rs 1,049 m in FY21.

Here's the cash flow statement of GMM PFAUDLER for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations6772702671,5672,364
From Investments-242-81-497-660-1,166
From Financial Activity-81-98-461,049-553
Net Cashflow35589-2761,957471

What does the Key Ratio analysis of GMM PFAUDLER reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of GMM PFAUDLER reveals:

  • Operating profit margins witnessed a fall and down at 11.2% in FY22 as against 10.5% in FY21.
  • Net profit margins declined from 6.3% in FY21 to 3.0% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.9 as compared to 1.1 in FY21.

Here's the ratio/financial analysis of GMM PFAUDLER for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)15.515.318.810.511.2
Net Profit Margin (%)10.710.112.06.33.0
Debt to Equity Ratio (x)0.00.00.01.10.9

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