Home / Markets / Stock Markets /  Saurabh Mukherjea's chemical stock pick surges 18% after rise in Q1 revenue
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One of the mid-cap stocks in Saurabh Mukherjea's Little Champ portfolio stocks, GMM Pfaudler shares have surged more than 18 per cent in morning session today. GMM Pfaudler share price today opened upside and went on to hit intraday high of 1,594.50 apiece levels on NSE, logging around 18 per cent rise from its Thursday close price of 1,343.30 per share. The stock has zoomed after the company reported rise in Q1 revenue and margins in its quarterly results announced on Thursday.

On Thursday, GMM Pfaudler announced its Q1 results for FY 2022-23. In this quarterly results, the company reported 34 per cent rise in its Q1 revenue and its EBITDA margin was at 13.20 per cent, around 6.70 per cent better from its Q1FY22 EBI|TDA margins. On account of better performance in international business, the company has managed to improve its order intake by near 24 per cent.

The company also announced to acquire 100% stake in Hydro Air Research Italia S.r.l., based in Milan, Italy, for a total consideration of 38.24 crore. The transaction is funded through internal accruals and expected to be completed in August 2022.

While speaking on GMM Pfaudler's Q1 results for FY23, Tarak Patel, Managing Director said, “Our focus on execution and cost controls have helped us achieve a strong Q1 performance, where we have increased revenues and improved margins. We recorded a significantly higher order intake this quarter adding to our backlog and putting us in a strong position for the coming quarters. While commodity prices have softened over the past few months, energy costs continue to remain a concern."

GMM Pfaudler shares are one of the three Little Champ stocks being top picked by Saurabh Mukherjea, who is Founder & Chief Investment Officer at Marcellus Investment Managers. Saurabh Mukherjea believes that GMM Pfaudler can become a global leader in glass lined and ceramic reactors after acquisition of Pfaudler. After acquisition of the Indian company it covers 85 per cent of the market share in India and 55 per cent in global merchandise.

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