GMM Pfaudler jumps after Q2 PAT soars to Rs 97 cr

GMM Pfaudler rallied 5.87% to Rs 1,975.30 after the company reported a consolidated net profit (from continuing operations) of Rs 96.89 crore in Q2 FY22, steeply higher than Rs 38.80 crore posted in Q2 FY22.

Revenue from operations jumped 20.52% to Rs 780.05 crore in Q2 FY23 from Rs 647.24 crore recorded in the corresponding quarter previous year.

Consolidated profit before tax surged 82.2% to Rs 101.40 crore in Q2 FY23 from Rs 55.64 crore reported in the same quarter last year.

EBITDA stood at Rs 119 crore in quarter ended 30 September 2022, registering a growth of 27% from Rs 94 crore posted in Q2 FY22. EBITDA margin improved to 15.2% in Q2 FY23 as compared with 14.5% reported in the same period a year ago.

The company's order intake was at Rs 829 crore in Q2 FY23, up 6% YoY. Order backlog grew by 16.81% YoY to Rs 2,119 crore in Q2 FY23.

Commenting on the Company's Q2 results, Tarak Patel, managing director said, Building on the strong start to the year we have delivered another strong performance this quarter. Our cost control measures, especially in Europe, have helped mitigate rising energy costs, however global uncertainties continue. Order intake and backlog numbers remain on track with all platforms showing good traction in our core as well as adjacent industries.

He further added, I am also pleased to announce that we have completed the acquisition of the balance 46% in GMM Pfaudler International S.r.l. (GMMI) and will now have 100% profits accrue from Q3 FY23.

Meanwhile, the company's board approved payment of interim dividend at Rs 1 per share for the financial year 2022-23. The record date for the same is fixed on 14 November 2022 and the dividend will be paid on or on or before 30 November 2022.

GMM Pfaudler delivers corrosion-resistant technologies, systems, and services worldwide and remains the preferred choice by consistently providing its customers in the chemical and pharmaceutical industries with innovative and cost-effective solutions.

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