Long GMMPFAUDLER (now)

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GMM Pfaudler Ltd

ABOUT [ edit ]
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.

KEY POINTS [ edit ]
Over 50% market share in India [1]
GMM Pfaudler (GMM) is the market leader in glass lined equipments with over 50% market share in India. It faces intense competition in small vessel segment from other domestic players. However, the group has a near monopoly in large vessel (with capacities over 16,000 litre) segment.[2].

Revenue Breakup FY23[3]
Technologies: 60%
Systems: 14%
Services: 26%

FY23 Geographical breakup[4]
India: 30%
Overseas: 70%

Manufacturing Facility & achievements[5]
The company has 18 facilities with 1800+ employees. It has a strong presence in 100+ countries with 8 complimentary brands.
In FY23, company's Li Yang facility in China manufactured its biggest glass-lined vessel of 140,000 liters capacity. Their Karamsad facility in India manufactured an 80,000 liters glass-lined vessel, the largest ever made in India.[6]

Order Book[6][3]
The company is having a backlog of 8-9 months in International business and 6-7 months in Indian business. Their value sourcing initiatives is helping them gain momentum in Eastern Europe (Poland, Finland, and Czech Republic) and North America. Company recently introduced stock and sale program in Germany to increase their sales.

Acquisitions FY17 - FY23[7]
The company has done 8 major acquisitions from FY17- FY23.
2017: INTERSEAL Sealing Technology
2018: NORMAG Lab & Process Glass
2019: INDUSTRIAL MIXING SOLUTIONS DIVISION Mixing Technology
2020: DE DIETRICH PROCESS SYSTEMS INDIA Glass-Lined Equipment
2021: HDO TECHNOLOGIES Alloy Process Equipment
2022: HYDRO AIR RESEARCH ITALIA Membrane Technologies
2022: JDS MANUFACTURING Glass-Lined Equipment
2023: MIXEL Mixing Technology
With these acquisitions, company is expanding their focus to non-glass lined technologies, systems, and services which are complementary to glass-lined business and provide access to new markets and segments.[8]

Change in Share Capital
In FY23, there was increase in their Authorised Share Capital from Rs.5 Crore to Rs. 10 Crore and increase in Paid up Share Capital from Rs. 2.92 Crore to 8.77 Crore due to issue of Bonus Shares to Existing Shareholders in the ratio of 2:1. Further, their paid-up Share Capital incrased from Rs. 8.77 crs to Rs. 8.99 crs due to the issue of 11,04,724 shares on a preferential basis in FY23.[9]

** Holding/Subsidiary/Associate/JV**
The company has total 20 subsidiaries with 100% stake held and 1 subsidiary with 51% stake held as of FY23.

Vision FY25[10]
FY25 vision - Revenue of Rs. 3700 crore, EBITDA of Rs. 630 crore and a ROCE of 25%.

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