GMM Pfaudler was up 9.6% at Rs 2,083 at 12:37 p.m., while the S&P BSE Sensex was up 0.20% at the same time. With a combined 1.37 million equity shares changing hands on the NSE and BSE, the average trading volumes on the counter increased by more than four times. On August 12, 2020, the stock increased to a new all-time high of Rs2,305.
GMM Pfaudler is a well-known provider of designed products and systems to businesses all over the world for use in crucial applications in the chemical, pharmaceutical, food, and energy industries.
The government’s concentrated efforts to portray India as a center for global sourcing, a trustworthy alternative to China, and becoming self-sufficient, along with its attempts to rise in the Global Ease of Business ranking, are likely to draw investments into India, according to the business. These initiatives ought to present GMM Pfaudler with exciting expansion prospects.
In its annual report for the fiscal year ending in fiscal year 22, GMM Pfaudler stated that “the significant growth is also projected thanks to the expanding market size, investments, and exports in the pharmaceuticals, specialty chemicals, and agrochemical industries in the next 5 years.”
The China +1 strategy, patent expiration, increased PE investments, and a reduction in regulatory risk are the main growth drivers for the pharmaceutical industry. The Production Linked Incentive (PLI) program will increase investments in the pharmaceutical industry. According to the firm, prospects from a worldwide presence and value-chain integration, together with a strong CAPEX pipeline, are projected to drive development in the chemicals industry.
Separately, on August 4, the board of GMM Pfaudler approved the purchase of 46% of the paid-up share capital of its current overseas subsidiary, GMM International S.a.r.l., from Pfaudler International S.a.l., a company that is a member of the promoter group of the company, and Millars Concrete Technologies Private Limited, a company that is also a member of the promoter group. This will give the company ownership of 100% of Pfau
ICRA observes that the company’s debt levels at the consolidated level would be somewhat higher than they had anticipated, which would lower the debt coverage measures.
“But the business’s growing profitability and operational size will help to sustain its credit standing. Additionally, GMM International S.a.r.lretained .’s profits would increase once the remaining shareholding is consolidated “In its report dated August 16, 2022, the rating agency stated.
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