GMM Pfaudler Ltd (GMM), for Q2FY20, reported a strong set of numbers.On standalone basis revenue grew by 37.2% YoY to INR 1361mn (est INR 1354mn). EBITDA showed growth of 65.9% YoY to INR267mn (est INR241mn) with 339bps YoY improvement in margin from 16.2% in Q2FY19 to 19.6% in Q2FY20, due to favorable product mix mainly led by Glasslined business ,where EBIT margin improved by 451bps on YoY basis with 62% contribution in revenue. Moreover, Heavy engineering business has also supported growth momentum with 48% growth in revenue and 12% EBIT margin in Q2FY20. As per the management, heavy engineering to add lot of growth on the back of healthy order book and expect further improvement in margins going forward. A Price increase has taken in GL segment, which is successfully passed on to the customers because of high demand. Current order book is equally distributed among Glass lined, heavy engineering and proprietary products. Net profit surged by 83.9% to INR 180mn (est. INR150mn) due to operationally strong performance and lower tax expense (16.1% vs 34.6%). GMM's Swiss based subsidiary Mavag AG posted revenue of...