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GMM Pfaudler Limited (GMMP), global leader in glass-lined equipment, announces its second quarter (Q2 FY24) and half year results (H1 FY24) for the period ended September 30, 2023

Financial Performance

Consolidated

Highlights

* Revenue growth of 20% Y-o-Y on the back of strong execution

* EBITDA margins stable at 15.1%

* EPS growth of 7% Y-o-Y to ?15.8

* Order Intake of ?626 crore

* Order Backlog stands at ?1,705 crore

* Requisite approvals received, Patel family will purchase 1% stake from DBAG Fund VI at ?1700 per share

Management Comment

Commenting on the Company’s Q2 FY24 results, Mr. Tarak Patel, Managing Director said, “We are happy to report a strong performance this quarter with both revenue and profitability in line with our FY25 guidance. Order intake remains subdued due to a general weakness in the chemical sector; however, our strategy of diversification and entering new industry segments has led to a strong opportunity pipeline across geographies.” 

He further added, “We will continue to focus our efforts on strengthening our market share, reducing costs and improving efficiencies.”

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