GMM Pfaudler zooms 13% amid reports 9.2% equity changes hands via block deal

Shares of GMM Pfaudler, an industrial products company, jumped as much as 12.8% to ₹1,530.80 apiece on the BSE on Wednesday, August 28, after reports of large trade being executed in the block deal window surfaced.

At 10:00 AM, the stock was ruling at ₹1,510, up 11.27% on the BSE.

Its brand line includes Pfaudler, Normag, Mavag, Mixel, Mixion, Mixpro, Interseal, Equilloy, Edlon and Hydroair.

GMM Pfaudler Q1FY25 updates

The company, in its conference call, said its revenue and profitability remain stable with strong execution across geographies. The business environment remains challenging, mainly driven by a slowdown in the chemical and agrochemical sectors. Order intake improved significantly this quarter, mainly driven by heavy engineering, mixing, and systems businesses, it added.

"The last two quarters have now seen a strong order intake, and this quarter ₹882 crore of order intake is the highest order intake in the last eight quarters. Our order backlog is also up by 5% to about ₹1,777 crore. And our opportunity pipe remains stable, with key opportunities expected to close in Q2. Our diversification strategy has helped mitigate the slowdown in the chemical sector by allowing us to focus on new market and industry segments," the company added. 

Its consolidated revenue for the quarter was ₹785 crore, and EBITDA stood at₹89 crore, with an EBITDA margin of 11.3%.

"We also participated in ACHEMA this year, in June. This is the biggest trade show for our industry segment as well. We also inaugurated the GMM Pfaudler JDS facility in America, Georgia, USA, which is a facility catering to the re-glass and services platform," it further said.