GMM PFAUDLER LIMITED

Manufactures corrosion-resistant industrial equipment — primarily glass-lined reactors, vessels and storage tanks, heavy engineering equipment, and related process systems — sold mainly to chemical and pharmaceutical producers, with growing orders from semiconductor, defence, nuclear, oil & gas, and metals & minerals customers. Two reportable segments: India (₹976.42 crore revenue, 27.7% of segment revenue) and Overseas (₹2,547.52 crore revenue, 72.3% of segment revenue), reflecting its Indian parent plus European and Brazilian operations. FY26 consolidated revenue was ₹3,523.94 crore with ₹51.82 crore net profit, weighed down by ₹52.62 crore of exceptional items for workforce reduction at the German Pfaudler GmbH subsidiary and ₹12.69 crore for Indian labour code gratuity changes. Order intake for FY26 reached ₹3,714 crore (up 20% year-on-year) and opening backlog rose 34% to ₹2,194 crore, including a ₹130 crore nuclear order and a USD 30 million acid-recovery order, giving strong revenue visibility into FY27. The biggest cost line is raw materials at 41.5% of revenue, followed by employee costs at 28.6%, consistent with an equipment manufacturer that buys glass, steel and alloys and runs engineering-heavy plants. Recent acquisitions include 100% of SEMCO Brazil for ₹162 crore and 51% of GMM Inox Poland for ₹25.30 crore.