GMM Pfaudler (505255) AGM 2024 summary

Opening remarks and agenda

• The AGM was held virtually, enabling broader shareholder participation, especially for those outside Gujarat.

• The board of directors and key executives, including new Independent Director Ms. Shilpa Divekar Nirula, were introduced.

• Statutory and secretarial auditors were present, and e-voting procedures were explained for shareholder participation.

Financial performance review

• Consolidated revenues for FY 2023-24 rose 8% to INR 3,446 crores, while standalone revenues declined 4% to INR 1,031 crores.

• Consolidated EBITDA increased 11% to INR 477 crores, but standalone EBITDA fell 19% to INR 139 crores.

• Profit after tax dropped 17% on a consolidated basis and 48% on a standalone basis; EPS increased 8% consolidated but fell 49% standalone.

• Order backlog stood at INR 1,689 crores as of March 31, 2024.

Board and executive committee updates

• Ms. Shilpa Divekar Nirula joined as an Independent Director, bringing the board's independent representation to 70%.

• The board expressed appreciation for the support of directors, employees, and partners.