GMM Pfaudler Ltd

Financial Performance

• Consolidated revenue: INR 925 crores, up 16% YoY.
• EBITDA: INR 94 crores; YoY -7%; QoQ +25%.
• PAT: INR 22 crores; YoY >2x.
• Order intake: INR 1,007 crores in Q1; flat YoY.
• Backlog: INR 2,289 crores; +20% YoY; +4% QoQ.

Division Highlights

• CRT revenue: INR 466 crores, +10% YoY; CRT orders: INR 502 crores, +23%.
• PPT revenue: INR 255 crores, +23%; PPT orders: INR 367 crores, +64%.
• HET revenue: INR 74 crores, flat; HET orders: INR 58 crores, >700% YoY.
• PST revenue: INR 131 crores, +46%; PST orders: INR 80 crores.

Execution and Backlog Timing

• Order backlog executable profile: majority of Q1 intake executable in FY27.
• Division-wise orders indicate 10–12 month execution cycles.

Balance Sheet and Cash Flow

• Debt plan: repay ~EUR 7 million by end of Q2 FY27; refinance to optimize debt maturity.
• Focus on strengthening balance sheet; cash generation and working-capital discipline.

Guidance and Outlook

• Target EBITDA margin: minimum 15%; path to improve across divisions.
• Tax rate around 30% long term; stabilization expected in 18–24 months.

Q&A Highlights

• Q: Recovery in traditional markets? A: Pharma improving in India; international pharma improving; chemicals flat.
• Q: Indian margin pressure due to transformation costs; expected recovery? A: margins should improve with utilization and pricing.
• Q: Bottlenecks before reorganization? A: regional structure hindered cross-division work; now KPIs aligned.
• Q: Backlog execution risk; 10–12 month horizon? A: majority executable in 10–12 months.
• Q: Debt targets and timelines? A: EUR 7m repayment planned; 12–18 months to deleverage; debt target not disclosed.
• Q: Tax rate trajectory? A: around 30%; stabilization in 18–24 months.

Meeting Details

• Date/time: August 6, 2026, 12:00 IST.
• Type/mode: group earnings conference call, virtual.
• Event: Q1 FY27 Earnings Conference Call – Audio Recording (GMM Pfaudler).

Purpose

• Purpose: earnings results discussion for Q1 FY27.

Additional Notes

• Audio recording of the call is available on the company website.

Meeting Details

• Results announced on August 5, 2026; earnings call on August 6, 2026 at 12:00 IST.
• Type: earnings call; mode: virtual.
• Participants: company management to host the call.
• Event/organiser: GMM Pfaudler.

Dematerialisation status

• Dematerialisation requests for quarter ended 30 June 2026 were processed and confirmed to the depositories.
• Securities dematerialised have been listed on the stock exchanges where the existing securities are listed.
• Physical demat certificates were mutilated and cancelled; depository name updated as registered owner within timelines.
• Rematerialisation requests received: none.

Overview

• Global provider of process technologies, systems, and services for chemical, pharma, energy, and industrial sectors.
• Reporting scope: standalone BRSR for FY26 (year ended March 31, 2026).

Key ESG Risks & Opportunities

• Climate change risk with physical impacts; mitigated by energy efficiency, renewables, water and waste circularity.
• Energy & emissions opportunity: renewable share 14.16% and 1,695.6 tCO2e avoided; ongoing efficiency programs.
• Water management: wastewater treatment and recycling; Karamsad plant implements Zero Liquid Discharge.
• Waste management: waste minimization; TSDF disposal; limited end-of-life reclamation for products.
• Governance & supply chain: ESG Strategy 2.0; MD-chaired Steering Committee; 49.11% inputs from suppliers assessed for sustainability.
• R&D & innovation: emphasis on sustainable design and energy-efficient process improvements.

Governance & Policy Highlights

• Board approved ESG Strategy 2.0; ESG Steering Committee oversees implementation.
• Key policies: Anti-Bribery & Anti-Corruption, Whistle Blower, Human Rights, Code of Conduct, Supplier Code of Conduct.
• Certifications: ISO 9001, ISO 14001, ISO 45001; NVG alignment; policies approved by Board.
• Compliance: no material fines or penalties in FY26; no anti-competitive orders reported.
• Assurance: internal audits; external assessments conducted as needed; governance reinforced by continuous monitoring.

Social Responsibility & Workforce

• Workforce: 633 total; 626 permanent; 2,141 workers; women 5.69% of permanent staff.
• Diversity: board female representation 25%; key management female 33%.
• Health & safety: ISO 45001 certified; 17 total worker injuries; no fatalities; emergency readiness ongoing.
• Well-being & training: health benefits, wellness programs, DE&I, leadership development; regular training.
• CSR focus: healthcare (55,000+ beneficiaries), education (1,400+), environment initiatives.

Environmental Performance

• Energy: total 227,476.95 GJ; renewables 8,601.60 GJ; renewables share 14.16%.
• GHG emissions: Scope 1 10,048.73 tCO2e; Scope 2 10,282.69 tCO2e; Scope 1+2 intensity 19.66 tCO2e/Cr turnover.
• Water: total withdrawal 56,102.66 kilolitres; groundwater 16,722; third-party water 39,380.66; ZLD at Karamsad plant.
• Waste: total 2,651.58 MT; recycled 1.87 MT; reused 79.83 MT; landfill 21.73 MT.
• Certifications and initiatives: ISO 9001/14001/45001; wind-solar hybrid and captive solar projects.

Stakeholder Engagement & Complaints

• Stakeholders include investors, employees, customers, suppliers, communities; engagement via emails, meetings, website.
• ESG Strategy 2.0 approved; quarterly Board reviews; ESG Steering Committee coordinates stakeholder engagement.
• Grievance mechanisms exist across groups; community and value-chain feedback integrated into policy and actions.
• Vulnerable groups addressed through CSR programs; ongoing collaboration with communities and local partners.

Other Notable Metrics

• Sustainable inputs: 49.11% of inputs from sustainability-assessed suppliers; 24.19% MSMEs; 78.78% Indian sourcing.
• Data privacy: cyber security policy; no data breaches reported to CERT-In in FY26.
• Affiliations: member of 12 trade/industry chambers; top bodies include FICCI, CII, ICC, PPMAI, IACC, and others.
• Product recalls: none; customer information on products/services provided via manuals and training.

AGM details

• 63rd AGM on Aug 4, 2026 at 12:00 IST; Mode: VC/OAVM.
• Record date: 28 July 2026; books closed 29 July–4 Aug 2026; e-voting 31 July–Aug 3.

Resolutions to be put to vote

• Receive and adopt Audited Standalone and Consolidated Financial Statements.
• Confirm interim dividend; declare final dividend for FY2026.
• Re-appoint Ramdev as Director (retiring by rotation).
• Ratify remuneration to Cost Auditors for FY2026-27.
• Special: Appoint Gregory Gelhaus as Group CEO (related party).

Director & KMP changes

• Aseem Joshi resigned as CEO; Tarak Patel remains MD.
• Ankit Nayyar appointed Deputy CFO; effective 21 May 2026.

Auditors

• Statutory auditors: S R B C & Co LLP; five-year term 2025–2030.

• Trading window closes for designated persons from June 30, 2026 until 48 hours after Q1 FY27 results declaration.