Saurabh Mukherjee’s favourite pick GMM Pfaudler is the top gainer surging 16.29% on July 29

Company’s Q1 net profit increased by 1618.53% on a YOY basis.

Markets are trading positively for the third consecutive day. At 11:42 am, S&P BSE Sensex is trading at 57329 with 0.83% gain. Talking about stock-specific action, GMM Pfaudler is trending on the market today.

The shares of GMM Pfaudler have risen 16.29% and are trading at Rs 1562. The stock is rallying today as the company disclosed an excellent Q1 FY23 result after yesterday’s market close. 

The company’s revenue was reported at Rs 739.24 crore, a jump of 34% from Rs 551.68 crore, which was recorded for the same quarter of the last fiscal. A YOY improvement in the EBITDA margin was observed by 672 basis points from 6.48% to 13.2%. The net profit also increased by a staggering 1618.53% on a YOY basis from Rs 2.59 crore to Rs 44.51 crore for the June quarter.

GMM Pfaudler is involved in the business of manufacturing corrosion-repellent glass-lined equipment. It is a major provider of processing equipment to the chemical and pharmaceutical sectors. Mixing Systems, Filtration and Drying Equipment, Engineered Systems, and Heavy Engineering Equipment are also the part of company’s product portfolio. The company has 14 global manufacturing facilities with over 1800 employees. India’s famous investor, Saurabh Mukherjee is well known to be an investor of the company.

As per the June quarterly ending, the company has an ROE and ROCE of 16.1% and 14.3%, respectively. It has a strong growth number. The company’s 10-year sales and net profit growth remain at 26% and 24%, respectively.

About the shareholding pattern, the 54.95% stake is owned by the promoter, FIIs and DIIs together hold 17.94%, and the rest 27.11% is held by the non-institutional investors.

The company belongs to BSE group ‘A’ and has a market capitalization of Rs 6796 crore. The stock has a 52-week high and low of Rs 1763.24 and Rs 1249.75, respectively.

On July 29, the stock opened at Rs 1428 and so far, at 11:42 am, the stock has made an intraday high and low of Rs 1587 and Rs 1428, respectively.