Gmm Pfaudler Limited · NSE:GMMPFAUDLR
Gmm Pfaudler — FY2023 Earnings Presentation
39 slides from Gmm Pfaudler's earnings presentation, May 25, 2023
Slide 1: Exchange filing cover letter
GMM/SEC/2023-24/16 May 25, 2023 To, BSE Ltd NSE Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, 1st Floor, Dalal Street, Bandra Kurla Complex, Bandra (E) Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 505255 Symbol: GMMPFAUDLR Sub.: Investor presentation on the Audited Standalone and Con
Slide 2: Investor Presentation May 2023
May 2023 www.gmmpfaudler.com
Slide 3: Disclaimer
This presentation has been prepared by GMM Pfaudler Limited (the “Company”) and forms a part of its intellectual property which is solely for the purposes of your general information and shall not be taken away, distributed, reproduced, or redistributed or passed on, directly or indirectly, to any o
Slide 4: FY23 key financial highlights
₹3,178 crore ₹431 crore 13.6% Revenue EBITDA EBITDA Margin ₹235 crore 7.4% ₹42.3 PAT* PAT Margin* EPS* ₹3,392 crore ₹2,162 crore Order Intake Order Backlog * Excludes impact of exceptional items of ₹22 crore related to inventory provision and acquisition related expenses 3
Slide 5: Revenue, EBITDA, PAT and EPS trends
Revenue (₹ crore) EBITDA (₹ crore) Profit After Tax (₹ crore) Earnings Per Share (₹) 42.3 431 235 3,178 284 2,541 19.4 16.8 139 75 1,001 64 FY21# FY22 FY23 FY21# FY22 FY23 FY21# FY22 FY23* FY21# FY22 FY23* * Excludes impact of exceptional items of ₹22 crore related to inventory provision and acquisi
Slide 6: On Track to Achieve FY25 Guidance
Revenue (₹ crore) EBITDA* (₹ crore) ROCE* (%) 3,700 630 3,178 25% 23% 2,541 431 22% 330 = = = FY22 FY23 FY25 FY22 FY23 FY25 FY22 FY23 FY25 On Track to Achieve FY25 Guidance * Excludes PPA and acquisition related expenses. Reported EBITDA is Rs 284 crore for FY22. Details on adjustments available in
Slide 7: Business and corporate highlights
Business ▪ Revenue growth driven by both International (21%) and India (32%) business ▪ Order intake driven by Technologies (glass-lined, filtration & drying, mixing and heavy engineering) and Services ▪ Profitability improvement in the International business, margins in India business under pressur
Slide 8: Glass-lined vessel image
LITRES GLASS-LINED VESSEL IN
Slide 9: Glass-lined vessel image
LITRES GLASS-LINED VESSEL IN
Slide 10: Consolidated balance sheet summary
Figures in ₹ crore Particulars 31.03.23 31.03.22 Particulars 31.03.23 31.03.22 Shareholder's equity 804 527 Fixed Assets 631 560 Non-controlling interests 11 141 Goodwill & Intangibles 595 455 Debt 797 505 Receivables 436 356 Pension liabilities 283 373 Inventory 771 670 Trade payables 537 391 Cash
Slide 11: Inventory, receivables and payables summary
Figures in ₹ crore Inventory Summary 31.03.23 31.03.22 Receivables Summary 31.03.23 31.03.22 Inventory 771 670 Trade Receivables 436 356 Receivable days 50 51 Customer advances 406 422 Net funding for inventory 365 247 Payables Summary 31.03.23 31.03.22 Backlog 2,162 1,932 Trade Payables 537 391 Inv
Slide 12: Business cash generation and application
Figures in ₹ crore BUSINESS CASH APPLICATION INVESTMENTS & GENERATION OF CASH FUNDING ₹426 crore ₹317 crore ₹89 crore Opening Profit Non-cash/ Working Other Long Acquisitions Closing Capex Interest Dividends Cash before Other capital Debt & Term / Disposals Cash tax Lease Borrowing 11
Slide 13: Diversified Investor Base
March March in % terms 31, 2023 31, 2022 30% Public 18% Foreign Portfolio Investors 19.96 12.15 14% Mutual Funds 8.12 3.40 3% Alternate Investments Funds 1.80 1.72 Insurance Companies/ Banks/ Fis 0.45 0.67 30-Jun-20 30-Sep-20 31-Mar-22 31-Mar-23 IEPF 0.40 0.41 Pre- Post- Current Previous year Public
Slide 14: Annexures
Annexures GMM Pfaudler
Slide 15: Consolidated Results
14 Consolidated Results GMM Pfaudler
Slide 16: Consolidated FY23 results
Figures in ₹ crore 25% 52% 3,178 431 2,541 284 13.6% 11.2% FY23 FY22 FY23 FY22 212% 15% 235 3,392 2,956 75 7.4% 3.0% FY23* FY22 FY23 FY22 * Excludes impact of exceptional items of ₹22 crore related to inventory provision and acquisition related expenses in FY23. 15 Margin and growth percentages are
Slide 17: Consolidated quarterly results
Figures in ₹ crore 9% 24% -19% 34% 866 792 118 699 96 72 11.1% 14.9% 10.2% Q4 FY23 Q3 FY23 Q4 FY22 Q4 FY23 Q3 FY23 Q4 FY22 -9% 111% -4% 12% 40 2,162 2,247 36 1,932 17 4.2% 5.1% 2.5% Q4 FY23 Q3 FY23* Q4 FY22 Q4 FY23 Q3 FY23 Q4 FY22 * Excludes impact of exceptional items of ₹22 crore related to invent
Slide 18: Order intake and backlog trend
Figures in ₹ crore Order Intake Trend Order Backlog Trend 998 2,182 2,247 2,162 2,119 1,932 829 792 773 470 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 17
Slide 19: Consolidated quarterly P&L
Particulars (₹ crore) Q4 FY23 Q3 FY23 Q-O-Q Q4 FY22 Y-O-Y Operational Income 866 792 9% 699 24% Material Cost 357 312 14% 289 23% Other Costs 413 362 14% 338 22% Total Operating Expenses 770 674 14% 627 23% EBITDA 96 118 -19% 72 34% EBITDA Margin (%) 11.1% 14.9% (383) bps 10.2% 84 bps Other Income 1
Slide 20: Adjusted to reported EBITDA, PAT and EPS
Figures in ₹ crore Particulars FY23 FY22 Particulars FY23 FY22 Adjusted EBITDA 431 330 Adjusted PAT 235 165 Less: PPA/other adjustments - -46 Less: PPA/other adjustments - -90 Less: Exceptional items - - Less: Exceptional items -22 - Reported EBITDA 431 284 Reported PAT 213 75 Particulars FY23 FY22
Slide 21: Standalone Results
Standalone Results GMM Pfaudler
Slide 22: Standalone FY23 results
Figures in ₹ crore 32% 0% 1,075 171 172 815 15.9% 21.1% FY23 FY22 FY23 FY22 4% 27% 1,112 99 95 874 9.2% 11.7% FY23 FY22 FY23 FY22 Backlog is net of POC. Margin and growth percentages are calculated on absolute figures. 21
Slide 23: Standalone quarterly results
Figures in ₹ crore 6% 28% 2% 14% 293 277 45 44 39 229 15.2% 15.8% 17.2% Q4 FY23 Q3 FY23 Q4 FY22 Q4 FY23 Q3 FY23 Q4 FY22 53% 68% -13% 4% 34 624 22 20 545 524 11.7% 8.1% 8.9% Q4 FY23 Q3 FY23 Q4 FY22 Q4 FY23 Q3 FY23 Q4 FY22 Backlog is net of POC. Margin and growth percentages are calculated on absolute
Slide 24: Standalone balance sheet summary
Figures in ₹ crore Particulars 31.03.23 31.03.22 Particulars 31.03.23 31.03.22 Fixed Assets 221 213 Shareholder's equity 708 445 Goodwill & Intangibles 18 25 Debt 331 128 Receivables 197 121 Inventory 199 231 Trade payables 154 159 Cash and equivalents 36 15 Investments 519 171 Other liabilities (cu
Slide 25: Standalone inventory and receivables summary
Figures in ₹ crore Inventory Summary 31.03.23 31.03.22 Receivables Summary 31.03.23 31.03.22 Inventory 199 231 Trade Receivables 197 121 Receivable days 67 54 Customer advances 83 94 Net funding for inventory 116 137 Payables Summary 31.03.23 31.03.22 Backlog 545 524 Trade Payables 154 159 Inventory
Slide 26: Standalone cash flow summary
Figures in ₹ crore H1 FY23 H2 FY23 FY23 Opening Cash 15 6 15 Profit before tax 57 74 131 Non-cash adjustments / Others 19 1 20 Business Cash Generation 76 75 151 Changes in working capital -122 24 -98 Capital expenditure -21 -17 -38 Application of Cash -143 7 -136 Interest expense -9 -16 -25 Dividen
Slide 27: Standalone quarterly P&L
Particulars (₹ crore) Q4 FY23 Q3 FY23 Q-O-Q Q4 FY22 Y-O-Y Operational Income 293 277 6% 229 28% Material Cost 147 139 6% 109 36% Other Costs 101 94 8% 81 25% Total Operating Expenses 248 233 7% 190 31% EBITDA 45 44 2% 39 14% EBITDA Margin (%) 15.2% 15.8% (55) bps 17.2% (192) bps Other Income 19 3 59
Slide 28: International Results
International Results GMM Pfaudler
Slide 29: International FY23 results
Figures in ₹ crore 21% 86% 2,279 1,881 249 134 10.9% 7.1% FY23 FY22 FY23 FY22 129 NA 10% 2,411 2,192 -1 5.6% -0.0% FY23^ FY22 FY23 FY22 *Includes Mavag & PFI, Excluding inter-company eliminations. ^ Excludes impact of exceptional items of ₹22 crore related to inventory provision and acquisition rela
Slide 30: International quarterly results
Figures in ₹ crore 11% 17% -23% 35% 617 557 55 71 526 40 8.9% 12.7% 7.7% Q4 FY23 Q3 FY23 Q4 FY22 Q4 FY23 Q3 FY23 Q4 FY22 -65% 1% -2% 17% 15 1,669 5 1,697 5 1,425 0.8% 2.7% 1.0% Q4 FY23 Q3 FY23^ Q4 FY22 Q4 FY23 Q3 FY23 Q4 FY22 * Includes Mavag & PFI, Excluding inter-company eliminations. 29 ^Excludes
Slide 31: Segmental Results
30 Segmental Results GMM Pfaudler
Slide 32: Revenue and order intake by segment
6% Technologies 7% 26% Revenue 34% 48% Systems 14% 60% 87% 18% Services 6% Technologies 8% 27% Order Intake 35% Systems 61% 50% 12% 86% 15% Services *Note: Standalone and International breakdown excluded inter-company eliminations 31
Slide 33: Revenue and order intake by segment
7% Technologies 5% 25% Revenue 33% 47% Systems 15% 60% 88% 20% Services 9% Technologies 2% 27% Order Intake 34% 60% 50% Systems 13% 89% 16% Services *Note: Standalone and International breakdown excluded inter-company eliminations 32
Slide 34: Manufacturing Sites
Manufacturing Sites GMM Pfaudler
Slide 35: Global Reach, Local Presence, Integrated Organization
Leven Waghäusel UK Ilmenau Bolton GERMANY Hofheim-wallau SWITZERLAND USA FRANCE Neunkirch Rochester ITALY CHINA Dardilly Avondale Torre De Mosto Li Yang Americus Milan Beijing INDIA Karamsad Hyderabad Ahmedabad BRAZIL Taubate Global Reach Local Presence Integrated Organization Manufacturing Faciliti
Slide 36: Manufacturing sites in Europe
Technologies (Glass-Lined) GERMANY Waghausel Services GERMANY Ilmenau Systems GERMANY Hofheim-Wallau Services ITALY Torre Di Mosto Technologies (Glass-Lined) Services ₹ 1,378 ITALY Milan Systems FRANCE Dardilly Technologies (Non Glass-Lined) SWITZERLAND Neunkirch Technologies (Non Glass-Lined) Servi
Slide 37: Manufacturing sites in India and China
Technologies (Glass-Lined & Non Glass-Lined) INDIA Karamsad Systems Services Technologies (Glass-Lined) Nacharam ₹ INDIA Services Technologies (Non Glass- 1,407 INDIA Vatva Lined) Services Technologies (Glass-Lined) CHINA Li Yang Systems crore Services Technologies (Non Glass- CHINA Beijing Lined) L
Slide 38: Manufacturing sites in USA and Brazil
Technologies (Glass-Lined & Non Glass-Lined) USA Rochester Systems Services USA Avondale Technologies (Non Glass- Lined) Services ₹ USA Americus Services 932 crore Technologies (Glass-Lined) BRAZIL Taubate Services Latest financial year ended figures; Dardilly, Beijing, Milan and Americus are FY21 e
Slide 39: Investor relations contacts
Priyanka Daga Anuj Sonpal GMM Pfaudler Limited Valorem Advisors T: +91 22 6650 3900 T: +91 22 4903 9500 E: investorrelations@gmmpfaudler.com E: gmmpfaudler@valoremadvisors.com