GMM Pfaudler Limited has informed the Exchange about Transcript
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GMM Pfaudler filed the transcript of its Q4 FY26 earnings call held on May 21, 2026. The company delivered steady FY26 results with consolidated revenue up ~10% YoY and EBITDA up ~11% to about INR 403 crores. The India business was a standout, with revenue up 12%, EBITDA up 24% and PAT up 40%. Order intake grew 20% YoY to INR 3,714 crores, and the opening backlog was up 34%, giving strong revenue visibility. Free cash flow of INR 367 crores and a net debt/EBITDA ratio of 0.4x reflect a healthy balance sheet. Q4 however saw gross margin pressure (consolidated gross margin at 55.4%), attributed to product mix, gas/metal cost spikes, and a large heavy engineering shipment. Management outlined a three-year strategic plan targeting a 15% consolidated EBITDA margin (currently ~11.5%) and plans to articulate it to the markets by August–September 2026. Nearly 50% of order intake came from non-traditional industries like semiconductors, defence, oil & gas and nuclear.
Strong order book and 34% higher opening backlog should support revenue growth in FY27, but near-term margin pressure and cautious guidance may cap upside. Successful execution of the three-year plan, the 15% EBITDA margin target, debt restructuring (INR 120–130 crores of annual interest cost is a key focus area), and INR 45 crores of annual savings from the German restructuring are positive triggers for long-term shareholders.