GMM Pfaudler Ltd. — Interim / Quarterly Report 2021

Jan 21, 2021

Sub: Rectification in financial results

Pfaudler Defining the standard
GMM/SEC/2020-21/53		January 21, 2021
To, BSE Limited Phiroze Jeejeebhoy Towers, 1* Floor, Dalal Street, Mumbai — 400 001 Scrip Code: 505255	National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai — 400 051 Symbol: GMMPFAUDLR
	Sub: Rectification in financial results
reference with the financial This results to is December 31, 2020 filed on January 20, 2021 vide letter no. GMM/SEC/2020-21/52. Kindly note that there was a formula error in the consolidated financial statement due to which the following numbers need to be rectified:	quarter and for the	months ended nine (Rs. in million)
Particulars	published for Quarter Ended 31.12.2020	Figure inadvertently Corrected Figure for Quarter Ended 31.12.2020
Total Comprehensive Income for the period (11+12) 211.98 (Comprising Profit and Other Comprehensive Income for the period)		250.22
Attributable to Equity Holders of the parent	212.49	250.74
Kindly note that the said error does not impact the Revenue, EBITDA, PBT, PAT or EPS and that all the numbers remain the same. A copy of the aforesaid rectified financial results is enclosed for your records in compliance with the requirements of the Listing Regulations. Kindly take the same on record and disseminate the information.
Thanking you,
Yours faithfully, For GMM Pfaudler Limited
Mittal Mehta Company Secretary FCS No. 7848 Encl: As above

		GMM PFAUDLER LIMITED
	Registered Office & Works: Vithal Udyognagar, Karamsad 388 325, Gujarat, India CIN : L29199GJ1962PLC0001171, Email ID : sales@gmmpfaudler.com, Web Site : www.gmmpfaudler.com STANDALONE STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020
							Rs. in Million
	Particulars	31.12.2020 Unaudited	Quarter ended 30.03.2020 Unaudited	Standalone 31.12.2019 Unaudited	Nine Months ended 31.12.2020 Unaudited	31.12.2019 Unaudited	Year ended 31.03.2020 Audited
1	Income: Revenue from Operations Other Income Total Income	1,657 30 27.04 1,684.34	4,541.44 22.34 1,563.78	1,366.21 29.06 1,395.27	4,507.72 71.26 4,578.98	4,023.71 48.24 4,077.95	5,163.55 61.17 §,224,.72
2	Expenses : a) Cast of materials consumed b) Changes in inventories of finished goods and work-in-progress c) Employee benefits expense d) Depreciation & amortization expense	765.46 (86,95) 192.89 104.89	619.80 17.95 191.93 57.27	648.66 (30.74) 137,54 54.52	1,775.00 212,91 536,25 217.30	4,878.22 (48.50) 410,22 143.94	2,386.38 (56.89) 551.06 200,14
	e) Labour Charges f} Finance cost g) Other Expenses Total Expenses	113.67 17,78 249.42 1,377.16	92.32 17.71 262.10 1,249.08	80.80 9.37 243.31 1,143.43	280.73 AT AT 689.77 3,759.13	261,95 25.91 735.11 3,406.85	337.18 34.88 951.61 4,404.36
3 4 5	Profit before exceptional items and tax (1-2) Exceptional items Profit Before Tax (3 + 4)	307.18 - 307.18	314.70 : 314.70	251.84 : 251.84	819.85 - 819.85	671.10 - 671.10	820.36 - 820.36
6	Tax Expense: Current lax Excess Provision for Tax relating to Prior Years Deferred Tax	85,07 = 0.09	79.23 (13.87) (1.30)	69.65 = (12.18)	216.89 (13.87) (19.35)	170.61 : (20.45)	202,23 = (3.10)
8 9	7_ Profit for the period from continuing operation (5-8) Profit from discontinued operations Tax Expenses of discontinued operations	222.02 - =	250.64 - :	194.37 - -	636.18 - =	520.94 - =	621.23 - =
11	10 Profit from discontinued operations (after tax) (8-9) Profit for the period (7+10) 12 Other Comprehensive Income	- 222.02	: 250.64	= 194.37	+ 636.18	520.94	621.23
	A) Items that wilt not be reclassified to profit ar loss i) Actuarial Gain / (Loss) on Gratuity and Pension obligations ii) Income tax relating to items that will not be reclassified to profit	(1.73)	(1.72)	*	(5.18)	-	(6.90)
	or lass B) ltems that will be reclassified to profit or loss i) Exchange difference in translating the financial statements of foreian camnonents loss il) Income tax relating to items that will be reclassified to Profit &	-	-	-	-	=	>
	loss account Total Comprehensive Income for the period (11+12) 13 (Comprising Profit and Other Comprehensive Income for the				=	=	3
	period) Earnings per equity share (For continuing operations) {Face Value of share ~ 2/- each) (not annualised):	220.29	248.92	194.37	631.00	520.94	614.33
14 15	a) Basic & Diluted Earnings per equity share (For discontinued operations) (Face Value of share * 2/-} (not annualised): a) Basic & Diluted	15.19 -	17.15 -	13.30 -	43,52 -	35.64 -	42.50 -
4g	Earnings per equity share (For discontinued operations & continuing operations) Value of share * 2/-) (nat annualised): (Face a} Basic & Diluted 17 Paic-up Equity Share Capital (Face Value of °2 each}	15.19 29.23	17.15 29.23	13.30 29.23	43.52 29.23	35.64 29.23	42.50 29.23

Notes:

1) The above unaudited results have been reviewed by the audit Committee and approved by the Board of Directors in their meeting held on January 20, 2021.

The Board of Directors have announced a third interim dividend of Re.1.00 per share for the current financial year 2020-21. The record date for the payment of the said 2) dividend has been fixed on January 29, 2021.

3) Number of Investors complaints (i) opening at the quarter | 1 (ii) received during the quarter : 7 (iii) dispased off: 8 and (iv) pending at the quarter end: 0

4) GMM Pfaudler Ltd ('GMM" or "the Company") had announced signing of definitive agreements to acquire De Dietrich Process Systems India Pvt. Ltd's (DDPS!) Glass Lined Equipment manufacturing facility in Hyderabad on the June 30, 2020, The Company has concluded the acquisition an October 05, 2020 and have started commercial operations from October 19, 2020.

5) GMM Pfaudler Limited ("GMM"" or "the Company') announced on August 20, 2020 signing of definitive agreements to acquire a majority stake in the global business of its parent, the Pfaudler Group ("Pfaudler') from the private equity firm Deutsche Beteiligungs AG Fund Vi ("DBAG"), As per the agreements, GMM (directly and through its subsidiary Mavag AG) will acquire a 54% equity stake in the Pfaudler Group subject to fulfilment of conditions precedent

For and on behalf of Board of Directors For GMM Pfaudler Limited

Manacing Director

SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020						Rs. in Million)
Particulars	31.12.2020	Quarter ended 30.09.2020 34.12.2019]	Standalone		Nine Months ended 34.12.2020 31.12.2019 31.03.2020	Year ended
1) Segment Revenue a} Glass line equipments b) Heavy Engineering	Unaudited 1,094.42 205.48	936.34 151.27	911.44 160.31	Unaudited Unaudited Unaudited Unaudited 2,802.82 773.96	2,714.36 415.42	Audited 3,547.41 502.16
c) Proprietary Products Net sales / Income from Operation	357.40 1,657.30	453.83 1,541.44	304.46 1,366.21	930.94 4,507.72	899.93 4,029.71	1,413.98 5,163.55
2) Segment Result: Profit before Tax and Interest
a) Glass line equipments	335.70 20,56	266.32 5.13	201.16 41.60	749.26 114.74	577.10 67.90	795.82 51,76
b) Heavy Engineering c) Proprietary Products Total	69.49 425,75	79.37 350.82	44.29 287.25	149.91 1,013.91	141.00 786.00	145.03 992.61
Less : Finance Costs	17.78	17.71	9.37	4717	25.91	34.88
Less: Other Unallocable Expense net of Unallocable Income Total Profit before Tax	100.79 307.18	18.41 314.70	26.04 251.84	146.89 819.85	68.99 671.10	137.37 820.36
3) Segment Assets: a) Glass line equipments 6b) Heavy Engineering c) Proprietary Products	2,526.44 631.14 875.97	1,788.05 134.44 773.73	1,709.73 692.50 915.45	2,526.44 631.14 875.97	1,709.73 692.50 915.45	1,587.96 831.60 795.53
Unallacable Assets Total	1,586.23 §,619.78	1,848.03 5,144.25	931.58 4,249.26	1,586.23 5,619.78	931.58 4,249.26	1,094.53 4,309.62
4) Segment Liabilities: a) Glass line equipments b) Heavy Engineering	1,031.56 242.43	870.30 218.50	904.05 163.07	1,031.56 242.43	904.05 163,07	800.40 150.18
c) Proprietary Products Unallocable Liabilities Total	467.16 595.32	394.42 683.41 2,066.53	362.59 194.01	467.16 695.32	362,59 194.01	415,17 233.07 1,598.82

	Registered Office & Works: Vithal Udyognagar, Karamsad, 388 325 Gujarat, India	GMM PFAUDLER LTD
	CIN: L29199GJ1962PLC0001171, Email ID: sales@gmmpfaudler.com, Websile: www.gmmpfaudier.com CONSOLIDATEO STATEMENT OF UNAUDITED FINANCIAL		RESULTS FOR THE QUARTER AND NINE MONTH ENDED DECEMBER 31, 2020
			Quarter ended		Consolidated Nine Month ended		Rs. in Million Year ended
4	Particulars Income: Revenue from Operations	37.92.2020 Unaudited 2,018.14	30.09.2020 Unaudited 4,862.53	31.12.2019 Unaudited 1,559.68	31.12.2020 Unaudited §,425,.02	31.12.2013 Unaudited 4,892 89	37.03.2020 Audited 5,910.72
2	Other Income Total Income Expenses :	26.74 2,044.88	20.09 1,882.62	94,18 4,593.86.	74.03 5,499.05.	50.29 4,643.16	57.57 5,968.29
	a) Cost of materials consumed b) Changes in inventories of finished goods and work-in-progress c) Employee benelils expense d) Deprecialion & amortization expense	981.27 (65.49) 287.97 108.80	805.05 3.08 287.45 61.32	716.35 (31.75) 218.32 58.60	2,279.87 186,36 818.25 229.87	2,057.60 (67.05) 651.53 152.45	2,620.30 (76.06) 879.78 211,45
	e) Labour Charges f) Finance cast __}.g) Othe: Expenses: Total Expenses	422,10 17.78 272.89	105,22 WTI 286,39	86,29 9.37 266.15	308.19 47.17 7AI.67 4613.37	273,56 26.91 790.41	353,89 34.90 1,021.46
2_ 4	Profit before exceptional Items and tax (1-2) Exceplionalitems [Profit Before Tax (3 + 4)	1,725.32 319.56, - 349,56	1,847.22 335.40 = 335,40	4,323.33 270.53 : 270.53	985.68. = 885.68	3,864.61 768.67 = 758.57	5,045.41 922.88 * 922.88
5 6	Tox Expense: Current Tax Excess provision for tax relating to prior years	B7.12	85.96 {13.67)	71.89 =	223.82 (13.87)	181.77 =	213.15 :
9	'Deferred Tax 7_ Profit for the period from continuing operation (5-6) 8 Profil from discontinued operations Tax Expsnses of discontinued operations	1.34 231.10 - =	(5.22) 268.53 -	{11.87} 240.54 -	(15.84) 691.57 = *	(18.52) 595.32 * =	(1,58) 711.31 * =
	10 Profit from discontinued operatinns {after tax) (8-9) 11 Protit for the poriod (7410) Attributable ta	- 251.410	- 268,63	~ 210.57	= GOT.57,	= 595.32	FAL =
	Equily Holders af the parent Nan Controlling Intarest 12 } Other Comprehensive Income A) Hems thal will not be ractassilied to profil or loss	231,64 (0.54)	266.55 (0.02)	210.51 =	692.13 (0.56)	695.32 :	FA1St -
	i) Actuarial Gain / (Loss) on Graluity and Pansion obligations i} Income tex relating lo items thal will not be reclassilied to profit or loss	(22.12) 2.86	(65.34) 8.90	(17.08) 2.73	(76.67) 10.01	(50.52); 8.08	38.79 (7.19)
	B) Items that will be reclassitied to profil or loss i) Exchange difference in lranslaling the financial statements of foreign components	38.38	12.28	21.75	60.76	27.48	7797
	ii} Income tax relaling to ilems (hat will be reclassified to profil or loss	-	-	-	-		=
	13 Tatai Comprehensive Income for the period (11412) (Comprising Profit and Other Cs isive Income for the period) Attributable to. Equity Holders of the parent	250.22 260.74	224.37 224.39	217.91	665.67	580,36	20.68 820.66
	Non Controlling Intorest Earnings per equity share (For continuing operations) (Face Value of share Rs 2é each) {nol annualised):	(0,52)	(0,02)	217.91 =	686.21 (0.54)	580.36. :	-
14	a) Basic & Diluted Eamings per equity share (For disconlinued operations) (Face Value of share Rs2/-) (not annualised):	15.85	18.37	14.40	47,35	40.73	48.66
15	a) Basic & Diluted 16 Eamings pes equily share (For discontinued operations & continuing	=		-	-		=
Ld	operations) (Faca Value of share Rs 2/-) (nat annualised): a) Basic & Dituted 4? Paid-up Equily Share Capital (Face Value of Rs 2/- each)	15.85 29.23	18.37 29.23	14.40. 28.23	47.35 25.23	40/3. 25.23	48.66. 28.23
Notes:	Equiy 418 [Other 1) The above unaudiled resulls have been reviewed by the audit Committee and approved by the Board of Directors in thair meeting held on January 20, 2021,						3,400.04
	2) The Group has Intimated the Stock Exchange to publish only Consolidated Financial Resulls and hance, lhe standalone financial results have not been published. However, the standalone financlal results for he quarter and nine months ended December 31, 2020 is avaliable on		Company's website (www.gmmpfaudler.com)
			Quarter Ended		Nina Months Ended		Year Ended
	Particulars Revenue from operalian	91.12.2020 1,657.30	30.09.2020 1,541.44	31.12.2019 1,366.21	34.12.2020) 4,507.72	31.12.2019 4,029.71	31.03.2020 5,163.55
	Profil before Tax Profit after Tax	307.18 222.02	314,70 250.64	251,84 194.37	819,85 636.18	671,10 520.94	820.36 621.23
	Other Comprehensive Income/(Loss) (Net of lax}	(1.73)	(1.72)	-	(5,18)	:	(6,90)
	Total Camprehensive Income after tax GMM Pfaudler Lid ("GMM " or "the Group") had announced signing of definitive agreements to acquire De Dietrich Peacess Systems India Pvt. Ltd's (DDPS } Glass Lined Equipment manufacturing	220.29	248.92	194.37	631,00	520.94	614.33
3) 4)	Facility in Hyderabad on the June 30, 2020, The Company has concluded the acquisition on Ocluber 05, 2020 and have stared commercial operalions from October 19, 2020, GMM Plaudler Limited ("GMM" ar 'the Group") announced on Augusl 20, 2020 signing of definitive agreements to acquire a majority stake in (he global business of ils parent, (he Pfaudler Group.
	("Plaudler'} from the privale equity firm Deulsche Beteiligungs AG Fund VI ('OBAG'). As per the agreements, GMM (directly and through its subsidiary Mavag AG) will acquire a 54% equily stake in the Pfaudter Group subject to fulfilment of condittons precedent.
	On 20Ih August 2020, Mavag AG has invested EUR 9,600 for 80% conralling stake in GMM Intemational SARL. During this quarter, Mavag AG has transferred shares {0 align wilh largeted shareholding. Post such transfer, GMM Pfaulder Limiled and Mavag AG holds 34.4% and 19.60% holding respectively in GMM International SARL.
5
						For and on behalf of Baard of Directors	For GMM Pfaudler Limited eva

		Quarter Ended				Year Ended
Particulars	91.12.2020	30.09.2020	31.12.2019	34.12.2020)	31.12.2019	31.03.2020
Revenue from operalian	1,657.30	1,541.44	1,366.21	4,507.72	4,029.71	5,163.55
Profil before Tax	307.18	314,70	251,84	819,85	671,10	820.36
Profit after Tax	222.02	250.64	194.37	636.18	520.94	621.23
Other Comprehensive Income/(Loss) (Net of lax}	(1.73)	(1.72)	-	(5,18)	:	(6,90)
Total Camprehensive Income after tax	220.29	248.92	194.37	631,00	520.94	614.33

For and on behalf of Baard of Directors For GMM Pfaudler Limited eva

SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS		AND LIABILITIES FOR THE NINE MONTHS ENDED DECEMBER 31, 2020		Consolidated		Rs. in Million
-		Quarter ended			Nine month ended	Year ended
Particulars	31.12.2020				30.09.2020 31.12.2019 31.12.2020 31.12.2019	31.03.2020
1) Segment Revenue a) Glass line equipments b) Heavy Engineering	Unaudited 1,094.42 205.48	936.34 151.27	911.44 150.31	Unaudited Unaudited Unaudited Unaudited 2,802.82 773.96	2,714.36 415.42	Audited 3,547.41 502.16
¢) Proprietary Products	718.24	774.92	497.93	4,848.24	1,463.11	1,861.15
Net sales / Income from Operation 2) Segment Result: Profit before Tax and Interest	2,018.14	1,862.53	1,559.68	5,425.02	4,592.89	5,910.72
a) Glass line equipments b) Heavy Engineering c) Proprietary Products Total	335.70 20.56 82.14 438.40	266.32 5.13 102.34 373.79	201.16 41.80 63,24 306.20	749.26 114.74 212.97 1,076.97	577.10 67.90 228.47 873.47	795.82 51.76 247.58 1,095.16
Less : Finance Costs	17.78	17.71	9.37	47.17	25.91	34.90
Less: Other Unaillocable Expense net of Unallocable Income	101.06	20.68	26.30	144.12	88.99	137.38
Total Profit before Tax	319.56	335.40	270.53	885.68	758.57	922.88
3) Segment Assets: a) Glass line equipments b) Heavy Engineering	2,526.44 631.14	1,788.05 734.44	1,709.73 692.50	2,526.44 631.14	1,709.73 692.50	1,587.96 831.60
c) Proprietary Products	2,293.87	2,105.38	2,211.14	2,293.87	2,211.14	1,920.84
Unallocable Assets Total	1,587.21 7,038.66	1,848.03 6,475.90	931.58 5,544.95	1,587.21 7,038.66	931.58 5,544.95	1,094.53 §,434.93
4) Segment Liabilities: a) Glass line equipments b) Heavy Engineering	1,031.56 242.43	870.30 218.50	904.05 153.07	1,031.56 242.43	904.05 153.07	800.40 150.18
c) Proprietary Products Unallocable Liabilities	1,110.72 §96.70	982.70 583.41	1,086.74 194.01	1,110.72 596.70	1,086.74 194.01	822.00 233.07