GMM Pfaudler Limited (GMMP), global leader in glass-lined equipment, announces its first quarter results (Q1 FY24) for the period ended June 30, 2023.
• Revenue growth of 23% Y-o-Y on the back of strong execution
• EBITDA margins at 14.5%, 125 bps higher Y-o-Y
• Order Backlog stands at ₹2,013 crore, down 7% Q-o-Q
• Order Intake of ₹770 crore, down 3% Q-o-Q
Commenting on the Company’s Q1 FY24 results, Mr. Tarak Patel, Managing Director said, “We are happy to announce a strong start to the year and remain on track to meet our FY25 guidance. Order intake remains subdued due to general weakness in the chemical sector; however, our opportunity pipeline remains strong across all business platforms and geographies; and we expect that some of the customer decision making which has been delayed will come through in the next quarter. Our order backlog remains stable translating to about eight months of visibility in the international business and about six months in the India business.”
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