Gmm Pfaudler Limited · NSE:GMMPFAUDLR

Gmm Pfaudler — Q2 FY24 Earnings Presentation

28 slides from Gmm Pfaudler's earnings presentation, Nov 9, 2023

1. Slide 1: Exchange filing cover letter

   GMM/SEC/2023-24/61 November 9, 2023 To, BSE Ltd NSE Ltd Scrip Code: 505255 Symbol: GMMPFAUDLR Sub.: Investor presentation on the Unaudited Standalone and Consolidated Financial Statements of GMM Pfaudler Limited (“the Company”) for the quarter and half year ended September 30, 2023 Dear Sir/ Ma’am,

2. Slide 2: November 2023

   November 2023 www.gmmpfaudler.com

3. 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

4. Slide 4: Q2 FY24 key figures

   ₹937 crore ₹142 crore 15.1% Revenue EBITDA EBITDA Margin ₹70 crore 7.5% ₹15.8 PAT PAT Margin EPS ₹626 crore ₹1,705 crore Order Intake Order Backlog 3

5. Slide 5: Business and corporate highlights

   Business ▪ Revenue growth driven by strong execution across International and India businesses ▪ Order intake in Technologies and Systems continues to be subdued due to slowdown in Chemical segment. Services remain on-track. ▪ Profitability improvement in the International business driven by operati

6. Slide 6: Consolidated financial performance Q2 FY24

   Figures in ₹ crore 3% 20% 7% 20% 937 912 142 132 780 119 15.1% 14.5% 15.2% Q2 FY24 Q1 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY23 30% -27% -15% -20% 97 2,013 2,119 70 1,705 54 7.5% 6.0% 12.4% Q2 FY24 Q1 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY23 Backlog is net of POC. Margin and growth percentages are calculated

7. Slide 7: Revenue and order intake mix

   6% Technologies 8% 28% Revenue 10% 35% 53% Systems 62% 86% 12% Services 2% 6% Technologies 40% Order Intake 33% 54% 42% Systems 13% 92% 18% Services *Note: Standalone and International breakdown excluded inter-company eliminations 6

8. Slide 8: Order backlog and order intake trend

   Figures in ₹ crore Order Intake Trend Order Backlog Trend 773 792 770 2,247 2,162 2,013 626 1,705 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Dec-22 Mar-23 Jun-23 Sep-23 7

9. Slide 9: Consolidated balance sheet summary

   Figures in ₹ crore Particulars 30.09.23 31.03.23 Particulars 30.09.23 31.03.23 Shareholder's equity 932 804 Fixed Assets 609 631 Non-controlling interests 10 11 Goodwill & Intangibles 577 595 Borrowings 823 797 Receivables 465 436 Unfunded Pension liabilities 259 279 Inventory 698 771 Trade payables

10. Slide 10: Inventory, receivables and payables summary

    Figures in ₹ crore Inventory Summary 30.09.23 31.03.23 Receivables Summary 30.09.23 31.03.23 Inventory 698 771 Trade Receivables 465 436 Receivable days 48 50 Customer advances 270 406 Net funding for inventory 428 365 Payables Summary 30.09.23 31.03.23 Backlog 1,705 2,162 Trade Payables 485 537 Inv

11. Slide 11: Business cash generation and application

    Figures in ₹ crore BUSINESS CASH APPLICATION INVESTMENTS & GENERATION OF CASH FUNDING ₹251 crore ₹254 crore ₹33 crore Opening Profit Non-cash/ Working Net Long Acquisitions Closing Capex Interest Dividends Cash before Other capital Short Term Term / Disposals Cash tax Borrowing & Borrowing Lease 10

12. Slide 12: EPS, RoCE and RoE trends

    Figures in ₹ 56.1 27.2% 28.0% 27.1% 22.5% 37.5 25.4% 18.1% 16.1% 19.4 21.6% 20.7% 16.2 16.7 18.8% 11.5 ROCE ROE 11.0% 13.5% FY19 FY20 FY21 FY22 FY23 H1 FY24* FY 19 FY 20 FY 21 FY 22 FY 23 H1 FY24* * H1 FY24 is annualised FY19 and FY20 includes GMM India and Mavag. EPS (basic) is calculated using net

13. Slide 13: Diversified investor base

    Figures in % terms September June Investor Category 30, 2023 30, 2023 39% Public 30% Foreign Portfolio Investors 26.49 18.84 Mutual Funds 9.66 8.18 18% 15% Alternate Investments Funds 2.09 1.90 Insurance Companies/ Banks/ Fis 0.83 0.67 IEPF 0.40 0.40 Public 35.35 31.27 31-Mar-21 31-Mar-22 31-Mar-23

14. Slide 14: Annexures

    Annexures GMM Pfaudler

15. Slide 15: Consolidated Results

    14 Consolidated Results GMM Pfaudler

16. Slide 16: Consolidated H1 FY24 performance

    Figures in ₹ crore 22% 27% 1,850 274 1,519 217 14.8% 14.3% H1 FY24 H1 FY23 H1 FY24 H1 FY23 -21% -24% 1,827 158 1,396 125 6.7% 10.4% H1 FY24 H1 FY23 H1 FY24 H1 FY23 Margin and growth percentages are calculated on absolute figures. 15

17. Slide 17: Revenue and order intake mix H1 FY24

    6% Technologies Revenue 27% 36% 5% (H1 FY24) 51% Systems 62% 89% 11% 13% Services 5% Technologies 31% Order Intake 6% 40% (H1 FY24) 58% 47% Systems 89% 13% 11% Services *Note: Standalone and International breakdown excluded inter-company eliminations 16

18. Slide 18: Consolidated profit and loss statement

    Figures in ₹ crore Particulars Q2 FY24 Q1 FY24 Q-O-Q Q2 FY23 Y-O-Y Operational Income 937 912 3% 780 20% Material Cost 402 373 8% 312 29% Other Costs 393 407 -3% 349 12% Total Operating Expenses 795 780 2% 661 20% EBITDA 142 132 7% 119 20% EBITDA Margin (%) 15.1% 14.5% 67bps 15.2% -8bps Other Income

19. Slide 19: Standalone Results

    Standalone Results GMM Pfaudler

20. Slide 20: Standalone Q2 FY24 performance

    Figures in ₹ crore -5% 4% -4% -9% 266 280 39 40 42 256 14.5% 14.3% 16.5% Q2 FY24 Q1 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY23 -6% -26% -17% -33% 21 650 17 522 16 435 5.9% 6.0% 8.3% Q2 FY24 Q1 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY23 Backlog is net of POC. Margin and growth percentages are calculated on absol

21. Slide 21: Standalone H1 FY24 performance

    Figures in ₹ crore 8% -5% 546 505 79 83 14.4% 16.4% H1 FY24 H1 FY23 H1 FY24 H1 FY23 -23% -32% 42 641 33 436 6.0% 8.4% H1 FY24 H1 FY23 H1 FY24 H1 FY23 Backlog is net of POC. Margin and growth percentages are calculated on absolute figures. 20

22. Slide 22: Standalone profit and loss statement

    Figures in ₹ crore Particulars Q2 FY24 Q1 FY24 Q-O-Q Q2 FY23 Y-O-Y Operational Income 266 280 -5% 256 4% Material Cost 135 146 -8% 117 15% Other Costs 93 94 -1% 97 -4% Total Operating Expenses 228 240 -5% 214 6% EBITDA 39 40 -4% 42 -9% EBITDA Margin (%) 14.5% 14.3% 15bps 16.5% -201bps Other Income 0

23. Slide 23: Standalone balance sheet summary

    Figures in ₹ crore Particulars 30.09.23 31.03.23 Particulars 30.09.23 31.03.23 Fixed Assets 212 221 Shareholder's equity 737 708 Goodwill & Intangibles 15 18 Borrowings 358 331 Receivables 188 197 Inventory 195 199 Trade payables 120 154 Cash and equivalents 15 36 Investments 519 519 Other liabiliti

24. Slide 24: Standalone inventory, receivables and payables summary

    Figures in ₹ crore Inventory Summary 30.09.23 31.03.23 Receivables Summary 30.09.23 31.03.23 Inventory 195 199 Trade Receivables 188 197 Receivable days 61 67 Customer advances 47 83 Net funding for inventory 148 116 Payables Summary 30.09.23 31.03.23 Backlog 435 545 Trade Payables 120 154 Inventory

25. Slide 25: International Results

    International Results DL GMM “ Pfaudler

26. Slide 26: International Q2 FY24 performance

    Figures in ₹ crore 7% 25% 17% 45% 708 659 101 86 565 70 14.3% 13.1% 12.3% Q2 FY24 Q1 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY23 60% -25% -15% -15% 53 70 33 1,343 1,581 1,590 7.4% 5.0% 12.5% Q2 FY24 Q1 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY23 * Includes Mavag & PFI, Excluding inter-company eliminations. 25 Bac

27. Slide 27: International H1 FY24 performance

    Figures in ₹ crore 24% 52% 1,367 187 1,105 123 13.7% 11.2% H1 FY24 H1 FY23 H1 FY24 H1 FY23 -21% -20% 108 1,286 86 1,033 6.3% 9.8% H1 FY24 H1 FY23 H1 FY24 H1 FY23 26 * Includes Mavag & PFI, Excluding inter-company eliminations. Backlog is net of POC. Margin and growth percentages are calculated on ab

28. Slide 28: 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

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