GMM Pfaudler shares zoom over 13% after Q1 earnings, management's positive commentary

GMM Pfaudler share price, GMM Pfaudler results: Shares of GMM Pfaudler zoomed over 13 per cent on Friday after the manufacturer of engineering equipment and glass-lined equipment reported a PAT of Rs 54.93 crore for Q1 FY24 (June 2023 quarter), a jump of 23 per cent from Rs 44.51 crore logged a year ago. ago.

GMM Pfaudler share price, GMM Pfaudler results: Shares of GMM Pfaudler zoomed over 13 per cent on Friday. Image: Official website

GMM Pfaudler share price, GMM Pfaudler results: Shares of GMM Pfaudler zoomed over 13 per cent on Friday after the manufacturer of engineering equipment and glass-lined equipment reported a PAT of Rs 54.93 crore for Q1 FY24 (June 2023 quarter), a jump of 23 per cent from Rs 44.51 crore logged a year ago. Besides, the stock also got a boost from management's positive commentary. The stock of the Gujarat-based company opened at Rs 1,480 and gained as much as over 13 per cent to touch the day's high of Rs 1,643 from the previous close of Rs 1,449.85. At the time of writing the copy, the stock quoted Rs 1,593.5 apiece, up by Rs 143.65, or 9.91 per cent on the NSE.

The company's total revenue from operations came in at Rs 912.27 crore, against Rs 739.24 crore logged last year on the back of strong execution. In addition, the company's EBITA margins stood at 14.5 per cent, 125 basis points higher year-over-year (YoY). Post the Q1 announcement, the company’s MD, Tarak Patel, said that the company remains on track to meet its FY25 guidance.

He said, "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 that 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." "Our business today is more resilient than ever before, and we remain committed to our vision of building a world-class institution," he added.

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Other highlights

Order backlog stands at Rs 2,013 crore, down 7 per cent Q-o-Q
Order intake of Rs 770 crore, down 3 per cent Q-o-Q

GMM Pfaudler's share price history

GMM Pfaudler's stock has given a positive return of over 1 per cent in the last 12 months (from August 11, 2022). In comparison, the headline index Nifty 50 has rallied over 10 per cent.

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