GMM Pfaudler (505255) Q4 24/25 earnings summary

Executive summary

• FY25 consolidated revenue was ₹3,199 crore, with EBITDA of ₹381 crore (11.9% margin); Q4 FY25 revenue was ₹807 crore and EBITDA ₹93 crore (11.5% margin).

• Order intake for FY25 was ₹3,102 crore, up 3% year-over-year; year-end order backlog was ₹1,636 crore, down 3% YoY.

• Strong free cash flow of ₹318 crore generated in FY25, nearly ₹100 crore higher than previous year.

• Closure of Hyderabad, India site completed; Leven, UK site closure to be completed by Q2 FY26.

• Audited standalone and consolidated financial statements for FY25 were approved with an unmodified audit opinion; final dividend of ₹2 per share recommended.

Financial highlights

• FY25 consolidated EBITDA margin at 11.9%; PAT margin at 3.1%; EPS at ₹22.99 (all before one-time costs).

• Standalone FY25 revenue at ₹1,032.59 crore, up from ₹926.65 crore in FY24; net profit at ₹42.25 crore, down from ₹51.05 crore.

• Consolidated revenue for FY25 was ₹3,466.50 crore, up from ₹3,229.10 crore in FY24; consolidated net profit for FY25 was ₹49.17 crore, down from ₹170.66 crore.

• Free cash flow for FY25 was ₹318 crore, up from ₹221 crore in FY24, with 80% EBITDA conversion.

• Net debt to EBITDA improved to 0.5x (from 0.8x); net debt to equity improved to 0.2x (from 0.4x) year-over-year.

Outlook and guidance

• India business expected to maintain strong margins (15%+ achievable in FY26) and growth, supported by a healthy backlog and strong order intake.

• Profitability improvement in H2 FY25 attributed to higher volumes, favorable product mix, and ongoing transformation; benefits expected to continue into FY26.

• Board expects improved capacity utilization and cost reduction from consolidation of glass-lined manufacturing operations.

• International business anticipates margin and order intake improvement as market conditions recover.

• Services revenue expected to recover as deferred maintenance and CapEx cycles return.