GMM Pfaudler Aims Rs 2,000-Crore Revenue On Group Level In FY21
The guided Ebitda for FY21 is 13% of the top line, says Managing Director Tarak Patel.
GMM Pfaudler Ltd. expects revenue to touch Rs 2,000 crore on a group level in the ongoing fiscal after merger of operations with Pfaudler International Inc., where the world’s largest producer of glass-lined reactors for pharmaceutical and chemical industries has a majority stake.
The guided operating profit for the financial year ending March 2021 is 13% of the top line, according to Tarak Patel, managing director at GMM Pfaudler, but these estimates may be revised due to better-than-estimated second-quarter performance of India operations. The consolidated margins, however, will be lower than what India operations reported because of the merger of the lower-margin global business of Pfaudler International, Patel told BloombergQuint’s Niraj Shah in an interview.
GMM Pfaudler witnessed revenue and profit rise 21.8% and 29.3% year-on-year, respectively, to Rs 186.3 crore and Rs 26.9 crore in the quarter ended September. The company’s Ebitda margin expanded to 21.2% from 20% a year ago, aided by better operating leverage.
The company, Patel said, will now operate a new facility in Hyderabad, which it had acquired from a competitor earlier in the year. The five-six months’ backlog at the Hyderabad facility, worsened due to the floods, will help garner additional revenue in the third and fourth quarters, he said.
The Curious Case Of GMM Pfaudler
Watch the full interview here...