 "GMM Pfaudler")
GMM Pfaudler stock falls: Engineering equipment manufacturer GMM Pfaudler shares dropped as much as 4.50 per cent to hit an intraday low of Rs 1,340.10 per share on Thursday.
This came after the company reported a weak set of March quarter of financial year 2024 (Q4FY24) results.
GMM Pfaudler's consolidated net profit dropped 14 per cent to Rs 28.7 crore in Q4FY24, from Rs 33.3 crore in the same quarter a year ago (Q4FY23).
The company’s revenue declined 14.5 per cent to Rs 740.7 crore, from Rs 866 crore in the same quarter a year ago.
Its earnings before interest, taxes, depreciation and amortisation (Ebitda), also known as operating profit, came in at Rs 91 crore in Q4FY24. Ebitda margin, meanwhile, stood at 12.3 per cent.
For FY24, revenue stood at Rs 3,446 crore, Ebitda at Rs 477 crore, profit after tax (PAT) at Rs 174 crore; and margin at 13.8 per cent.
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GMM Pfaudler’s order backlog for January - March 2024 quarter stood at Rs 1,689 crore.
Additionally, the order Intake soared 14 per cent Q-o-Q to Rs 861 crore.
The Board recommended a final dividend of Rs 1 per equity share, subject to requisite approvals. Total dividend for FY24, including interim dividend, stood at Rs 2 per equity share.
Tarak Patel, Managing Director said, “We are happy to report a strong finish to the financial year, where we were able to grow both revenue and profitability by 8% and 11%, respectively. He further added, “Our business diversification strategy has helped mitigate the slowdown in the chemical sector and allowed us to focus on non-traditional industry segments. Our ongoing cost control and operational excellence measures has helped us maintain margins and position us well for the future.”
At 11:40 AM, shares of GMM Pfaudler were trading 4.69 per cent lower at Rs 1,337.60 per share. By comparison, S&P BSE Sensex was up 0.57 per cent at 76,647.04 levels.
