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Anand Rathi Report
Strong execution and sturdy demand at its businesses and regions enabled GMM Pfaudler Ltd. to post ~34%/~24% YoY growth in consolidated revenue/ orders in Q1.
Its German and Chinese plants have been ramping up well, bringing better operational efficiencies at its international business. High commodity and energy prices, however, partially curbed margins to 13.2%.
Though improving QoQ, the Ebitda margin should hold at the similar level, with upward potential if energy costs abate.
Successful integration of its international business, cross-selling efforts, value-sourcing and a strong demand outlook keep us upbeat on GMM's business momentum.
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