GMM Pfaudler (505255) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue was ₹801 crore, stable sequentially, with EBITDA up 3% from Q2 FY25 and margin improving to 12.0%.

• Order intake for Q3 FY25 reached ₹798 crore, up 5% sequentially; order backlog at ₹1,740 crore, up 7% year-over-year.

• PAT for Q3 FY25 was ₹41.48 crore, with a PAT margin of 5.0% and EPS at 9.23.

• Standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2024, were reviewed and approved by the Board on February 6, 2025.

• No material misstatements or regulatory non-compliance identified by independent auditors in both standalone and consolidated results.

Financial highlights

• Q3 FY25 consolidated revenue at ₹801 crore, down 6% year-over-year; EBITDA at ₹96 crore, down 16% year-over-year.

• Standalone revenue from operations for Q3 FY25 was ₹237.80 crore, up from ₹208.02 crore in the previous quarter.

• Consolidated net profit attributable to equity holders for Q3 FY25 was ₹41.48 crore, up from ₹15.22 crore in the previous quarter and ₹28.89 crore in Q3 FY24.

• 9M FY25 revenue at ₹2,392 crore, down 12% year-over-year; EBITDA at ₹278 crore, down 28%; PAT at ₹77 crore, down 47%.

• International Q3 FY25 revenue at ₹600 crore, down 10% year-over-year; EBITDA at ₹69 crore, down 20%.

Outlook and guidance

• Management remains cautiously optimistic, expecting further recovery in chemical and pharma over the next few quarters.

• Margin improvement is expected to continue, but management is conservative about the pace of recovery.

• Growth in heavy engineering and non-GLE businesses is expected to drive future performance.

• Opportunity pipeline remains stable across geographies; product mix continues to evolve.

• No defaults on loans or debt securities as of December 31, 2024.