GMM Pfaudler Ltd Records Revenue Growth of 23% in Q3 FY23

Mumbai, February 03, 2022: GMM Pfaudler Ltd (GMMP), a global leader in glass-lined equipment, announces its third quarter (Q3 FY23) and nine months results (9M FY23) for the period ended December 31, 2022. 

Financial Performance

Consolidated 

* Excludes impact of exceptional items of ₹22 crore related to inventory provision and acquisition & disposal related expenses. Includes net loss on restatement of foreign currency borrowings amounting to ₹18 crore. 

* Excludes impact of exceptional items of ₹22 crore related to inventory provision and acquisition & disposal related expenses. Includes net gain on restatement of foreign currency borrowings amounting to ₹25 crore. 

Quarter Highlights

• Revenue growth of 23%
• EBITDA growth of 44%, EBITDA margin at 14.9%
• PAT margin at 5.1%, impacted by a net loss on restatement of foreign currency borrowings amounting to ₹18 crore (non-cash)
• Shipment and order intake remains on track
• Order Backlog stands at ₹2,247 crore
• Agreement to acquire a 100% stake in Mixel France SAS and its wholly owned subsidiary Mixel Agitator Co. Ltd (Mixel), for a total consideration of €7 million (₹56 crore). The transaction is expected to be completed in February 2023

Management Comment

Commenting on the Company’s Q3 results, Mr. Tarak Patel, Managing Director said, “We have delivered another good performance this quarter driven by strong execution across geographies. Our Technologies and Services platforms are seeing good traction, and with the current backlog of six to nine months, our outlook remains positive. With our shipment and order intake ahead of plan, we are confident of finishing the year in a strong manner.”

Unaudited results for the quarter and nine months ended December 31, 2022, prepared under Ind AS, are available in the Investor Relations section of our website www.gmmpfaudler.com

Quarterly Conference Call

The company will hold an earnings conference call on Friday, February 3, 2023, at 4:00 PM (Indian Standard Time) to discuss the unaudited financial results and performance of the Company for the quarter and nine months ended December 31, 2022.

The audio conference call will be accessible from all networks and countries through universal access dial-ins:

+91 22 6280 1566 / +91 22 7115 8064 or at weblink

Please click on the link

The Q3 & 9M FY23 Earnings presentation will be submitted to Stock Exchanges and shall also be hosted on the Company’s website at www.gmmpfaudler.com