GMM Pfaudler in reckoning
GMM Pfaudler is currently the top gainer on the BSE, going up over 18% to an intraday high at Rs.1587, on the back of almost 16x surge in volumes. Its 52-week high stands at Rs.1763.24.
The company, a global leader in glass-lined equipment, posted excellent numbers for Q1FY23. Its consolidated revenue rose 34% (YoY) at Rs.739 crore.
EBITDA was up by a huge 172% at Rs.98 crore while margins doubled from 6.5% to 13.2%.
PAT came in at Rs.61 crore v/s loss of Rs.18 crore (YoY).
Order intake was robust, up 24% (YoY) and up 112% (QoQ) at Rs.998 crore. Order backlog stands at Rs.2182 crore.
The company is buying 100% stake in Hydro Air Research Italia S.r.l. (HARI), based in Milan, Italy, for a total consideration of €4.96 million (Rs 38.24 crore). It designs and manufactures advanced separation systems (skid mounted units and/or turnkey plants) for process applications. The transaction will be funded through internal accruals and expected to be completed in August 2022.