Operating profit margin has declined from 13.30% to 11.96%, leading to 15.81% decline in operating profit to Rs 95.87 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 37.38% to 34.61%.   Employee cost increased from 28.20% to 30.50%.   Other expenses rose from 20.34% to 22.01%.   Contract job process charges fell from 3.41% to 3.27%.   

PBIDT rose 14.65% to Rs 121.7 crore.  Provision for interest rose 9.35% to Rs 25.14 crore.  

PBDT rose 16.11% to Rs 96.56 crore.  Provision for depreciation fell 4.25% to Rs 34.89 crore.  

Profit before tax grew 32% to Rs 61.67 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 21.64 crore, compared to Rs 18.79 crore.  Effective tax rate was 35.09% compared to 40.22%.

Minority interest decreased 51.04% to Rs -1.45 crore.  Net profit attributable to owners of the company increased 43.58% to Rs 41.48 crore.  

Sales of India segment has gone down 0.84% to Rs 208.94 crore (accounting for 26.07% of total sales).  Sales of Overseas segment has gone down 8.18% to Rs 592.54 crore (accounting for 73.93% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 24.53% to Rs 86.81 crore.  PBIT of India segment fell 7.01% to Rs 19.36 crore (accounting for 22.30% of total PBIT).  PBIT of Overseas segment rose 37.96% to Rs 67.45 crore (accounting for 77.70% of total PBIT).  

PBIT margin of India segment fell from 9.88% to 9.27%.  PBIT margin of Overseas segment rose from 7.58% to 11.38%.  Overall PBIT margin rose from 8.14% to 10.83%.  

 For year-to-date (YTD) results analysis.

Net sales (including other operating income) of GMM Pfaudler has declined 11.59% to Rs 2392.1 crore.  Sales of India segment has gone down 12.57% to Rs 618.22 crore (accounting for 25.84% of total sales).  Sales of Overseas segment has gone down 11.24% to Rs 1,773.88 crore (accounting for 74.16% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 27.26% to Rs 207.02 crore.  PBIT of India segment fell 34.39% to Rs 57.99 crore (accounting for 28.01% of total PBIT).  PBIT of Overseas segment fell 24.05% to Rs 149.03 crore (accounting for 71.99% of total PBIT).  

PBIT margin of India segment fell from 12.50% to 9.38%.  PBIT margin of Overseas segment fell from 9.82% to 8.40%.  Overall PBIT margin fell from 10.52% to 8.65%.  

Operating profit margin has declined from 14.27% to 11.62%, leading to 28.02% decline in operating profit to Rs 277.89 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 38.45% to 38.53%.   Employee cost increased from 26.22% to 28.46%.   Other expenses rose from 20.27% to 21.20%.   Contract job process charges fell from 3.16% to 2.86%.   

Other income rose 270.28% to Rs 35.14 crore.  PBIDT fell 20.86% to Rs 313.03 crore.  Provision for interest rose 18.21% to Rs 76.61 crore.  

PBDT fell 28.52% to Rs 236.42 crore.  Provision for depreciation fell 4.43% to Rs 106.01 crore.  

Profit before tax down 40.67% to Rs 130.41 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 53.3 crore, compared to Rs 74.42 crore.  Effective tax rate was 40.87% compared to 33.86%.

Minority interest decreased 14.69% to Rs -2.81 crore.  Net profit attributable to owners of the company decreased 45.94% to Rs 79.92 crore.  

Order book

Order Backlog stands at ?1,740 crore, up 7% compared to December 31, 2023. Opportunity pipeline remains stable across geographies, product mix continues to evolve 

Management Comments

Commenting on the Company’s Q3 FY25 results, Mr. Tarak Patel, Managing Director said, "The general weakness in chemical industry continues, negatively impacting capex cycles and new investments. Despite this slowdown, our shipment, order intake and backlog for this quarter remain stable. Our diversification strategy continues to pay rich dividends as we have made up some of this shortfall from new industry verticals such as Oil & Gas, Petrochemicals, Semi-Conductor and Metals & Minerals.” He further added, "While the outlook remains stable for this financial year, we continue to focus our efforts on strengthening our market share, reducing costs and improving efficiencies." 

Promoters’ stake was 25.18% as of 31 December 2024 ,compared to 25.18% as of 31 December 2023 .