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INTEGRATED. ALIGNED. GLOBAL. Earnings Presentation Q2 & H1 FY27 Linkedin logo vector, Linkedin symbol, Linkedin icon free vector 18910721 Vector Art at Vecteezy www.gmmpfaudler.com Youtube logo png, Youtube logo transparent png, Youtube icon transparent free png 23986704 PNG
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Disclaimer 2 This presentation has been prepared by GMM Pfaudler Limited (the “Company”) and forms a part of its intellectual property which is solely for the purposes of your general information and shall not be taken away, distributed, reproduced, or redistributed or passed on, directly or indirectly, to any other person or entity (whether within or outside your organization or firm) or published or disseminated in whole or in part, for any purpose by recipients directly or indirectly to any other person or entity . By accessing this presentation, you are agreeing to be bound by the trailing restrictions and to maintain absolute confidentiality regarding the information disclosed in these materials . The Company may alter, modify, or otherwise change in any manner the contents of this presentation, without obligation to notify any persons of such change or changes . You agree and understand that certain contents of this presentation are only indicative and not absolute, and the Company is not bound by them . For example, this presentation may contain certain forward - looking statements within the meaning of applicable securities law and regulations . These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company . Such forward - looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward - looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years . Many factors could cause the actual results, performances, or achievements of the Company to be materially different from any future results, performances, or achievements . Significant factors that could make a difference to the Company’s operations include domestic and international economic conditions, changes in government regulations, tax regime and other statutes . The Company does not undertake to revise any forward - looking statement that may be made from time to time by or on behalf of the Company . This presentation may contain certain supplemental measures of performance and liquidity that are not required by or presented in accordance with Indian GAAP, and should not be considered an alternative to profit, operating revenue or any other performance measures derived in accordance with Indian GAAP or an alternative to cash flow from operations as a measure of our liquidity . 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Q2 & H1 Financial Update 3
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Consolidated Financial Snapshot – Q2 FY27 ₹ 2,289 Cr ₹ 1,065 Cr YoY QoQ 18% 15% Revenue EBITDA PAT EPS 10.3% Margin ₹ 110 Cr YoY QoQ 18% 9% ₹ 35 Cr YoY QoQ 7% 59% ₹ 7.40 YoY QoQ 16% 39% 4 Order Intake Backlog ₹ 1,198 Cr ₹ 2,446 Cr 19% QoQ 7% QoQ 3.3% Margin
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Consolidated Financial Snapshot – H1 FY27 ₹ 2,289 Cr ₹ 1,989 Cr YoY 17% Revenue EBITDA PAT EPS 10.2% Margin ₹ 204 Cr YoY 8 % ₹ 57 Cr YoY 20% ₹ 12.72 YoY 12% 5 2.9% Margin Order Intake Backlog ₹ 2,204 Cr ₹ 2,446 Cr 17% YoY 14% YoY
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38 15 22 35 Q2 FY26 ¹ Q3 FY26 ¹ Q4 FY26 Q1 FY27 Q2 FY27 - 11 8.86 3.82 5.32 7.40 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 - 2.30 122 105 75 94 110 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 902 883 944 925 1,065 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Consolidated Financial Performance – Quarterly Trend 59% Revenue Profit After Tax EBITDA 8.0% 11.9% - 9% EPS 10.1% 13.5% Figures in ₹ crores 2.4% 4.2% ¹FY 26 restated for Semco and GMM Inox Poland PPA . 1.6% - 1.3% YoY% 6 - 7% - 16% 10.3% 3.3% 18% Q oQ % 18% 15% 39%
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770 626 756 861 882 762 798 660 1,004 878 961 871 1,007 1,198 2,013 1,705 1,625 1,689 1,777 1,773 1,740 1,636 1,906 2,146 2,205 2,194 2,289 2,446 - 200 400 600 800 1,000 1,200 1,400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Figures in ₹ crores Order Intake Backlog YoY% Q oQ % Order Intake & Backlog Trends FY24 3,014 FY25 3,102 FY26 3,714 7 H1 FY27 2,204 14 % 7% 36 % 19%
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46% 23% 31% H1 FY27 Total OI: INR 2,204 Cr 28% 28% 44% FY26 Total OI: INR 3,714 Cr 35% 23% 42% FY25 Total OI: INR 3,102 Cr 40% 27% 33% Diversification Strategy driving Growth 8 FY24 Total OI: INR 3,014 Cr >> >> >> • Share of non - traditional sectors continue to increase thereby strengthening our diversification : 13% increase over the last 2.5 years • Q2FY27 saw major orders being won in petrochemical and power sectors • Pharma CDMO and Peptide continues to be a growth story Traditional industries Non - traditional industries Chemicals Chemical investment and outlook continues to remains subdued due to global overcapacity Pharma Investments in Pharma continues to remain strong driven by CDMO & Peptides Petrochemical Demand remains strong due to capacity expansion cycle in Domestic as well as in Middle East and Africa Defense Defense spending in Europe is in a sub stained upcycle with higher NATO spending, rearmament program and localized production Nuclear & Thermal Power India’s push for energy security, driving public and private investments in these sectors Metals & Minerals The i ndustry is seeing a structural growth phase with investments coming in data centers, grid expansion and electrification Semiconductor US seeing multiple year growth cycle powered by AI with India being the next potential destination
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Key Highlights 9 Consolidated Highlights • Revenue for Q2 FY27 up 15% QoQ and up 18% YoY • EBITDA for Q2 FY27 up 18% QoQ and down 9% YoY • PAT for Q2 FY27 up 59% QoQ and down 7% YoY • Revenue for H1 FY27 up 17% YoY & EBITDA down 8% YoY • PAT for H1 FY27 up 20% YoY • Order Intake of ₹ 1,198 Crores up 19% QoQ and up 36% YoY ; India Order intake at ₹ 483 Crores • Backlog of ₹ 2,446 Crores up 7% QoQ and up 14% YoY Corporate Highlights • Repayment of approx . INR 116 crores of Net Debt in H 1 FY 27 • Maintained CRISIL Ratings at AA - with Stable Outlook • CRISIL assigned a rating of CRISIL ESG 61 (‘Strong’ Category) to the Company for FY 26 , as against CRISIL ESG 50 (‘Below Average’ Category) assigned for FY 25 • Group - level leadership structure realigned with appointment of Mr . Gregory Gelhaus as Group CEO and Mr . Ankit Nayyar as Group CFO providing direction and oversight to the four business divisions Performance Highlights
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Restructuring Europe for Profitable Growth 01 MARKET Chemicals in structural reset Europe ’s chemical industry is going through a major reset, with multiple plant closures and lower investment in new large - scale capacity 02 IMPACT Losses impacting Group Performance ₹ 43 Cr EBITDA loss from loss - making European entities in H1 FY27, despite healthy core performance 03 STRATEGY Major Restructuring under way • CRT European glass - lined manufacturing footprint consolidated with UK facility closed ( Q3 FY25); Germany workforce reduction measures implemented ( Q3 FY26) , India operations utilized as low - cost manufacturing base • PPT Western Europ ean restructuring ongoing; with Poland and India becoming low - cost hub for Europe EBITDA margin, excluding loss - making European entities Q2 FY27 ▲ +5.6 pts Reported 10.3% ₹ 110 Cr Excl. loss - making European entities 15.9% ₹ 139 Cr H1 FY27 ▲ +5.0 pts Reported 10.2% ₹ 204 Cr Excl. loss - making entities 15.2% ₹ 247 Cr 10
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Consolidated Balance Sheet 11 Figures in ₹ crores Particulars 30.09.26 31.03.26 Shareholder's equity 1,296 1,204 Non - controlling interest 28 28 Borrowings 732 835 Unfunded pension liabilities 309 330 Trade payables 592 471 Other liabilities (current & non - current) 1,192 1,156 Total Liabilities and Equity 4,149 4,024 Particulars 30.09.26 31.03.26 Fixed Assets 835 665 Goodwill & Intangibles 850 853 Receivables 507 465 Inventory 662 637 Cash and Bank Balance 482 688 Other assets (current & non - current) 813 716 Total Assets 4,149 4,024 ❑ Net Debt / Equity at 0.2 times as on September 30, 2026 (FY26: 0.1 times). ❑ Net Debt / EBITDA at 0.6 times as on September 30, 2026 (FY26: 0.4 times). ❑ ₹ 100 crores of Net Long - Term borrowings repaid (including repayment of EUR loan, approx. 7 Mn) . ❑ ₹ 16 crores of Net Short - term borrowings repaid.
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Consolidated Working Capital Summary 12 Figures in ₹ crores Inventory Summary 30.09.26 31.03.26 Inventory 662 637 Customer advances 325 427 Net funding for inventory 337 210 Backlog 2,446 2,194 Inventory days (net of advances) 32 22 To maintain consistency vs previous periods, following definitions are retained: ❑ Inventory days (net of advances) is net funding required for inventory divided by LTM Sales multiplied by 365 ❑ Receivable days is trade receivables divided by LTM Sales multiplied by 365 ❑ Payable days is trade payables divided by LTM Sales multiplied by 365 ❑ Cash Conversion cycle is Inventory days added by Receivable days and reduced by Payable days Receivables Summary 30.09.26 31.03.26 T rade Receivables 507 465 Receivable days 48 48 Payable Summary 30.09.26 31.03.26 T rade Payables 592 471 Payable days 57 49 Cash conversion cycle (days) 24 21
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Consolidated Cash Flow Statement 13 Figures in ₹ crores 6… 9… 1… -… -… -… -… -… -… -… -… -… 4… O p e n i n g C a s h Profit Before Tax N o n- c a s h / O t h e r T a x e s P a i d W o r k i n gc a p i t a l N e t C a p e x I n t e r e s t D i v i d e n d L e a s e D e p o s it s p lac e d w i t h b a n k Net ST borrowings LT b o r r o w i n g s C l o s i n g C a s h Opening Cash Profit before tax Working capital Net Interest Dividends Net Short - Term Borrowings paid Net Long Term Borrowings paid Net Capex Closing Cash INVESTING & FINANCING Non - cash/ Other APPLICATION OF CASH ₹ 168 crores (₹ 182 crores ) (₹ 194 crores) BUSINESS CASH GENERATION Leases Deposits placed Taxes Paid Net Debt repaid of INR 116 crores
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Divisional Performance 14
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Our Four Global Divisions 15 Corrosion Resistant Technologies (CRT) Unites our glass - lined and fluoropolyme r businesses — the leaders in their respective fields — serving the chemical, pharmaceutical , semiconductor industries , among others . Process Performance Technologies (PPT) Brings together our mixing, filtration , drying, separation and sealing businesses onto a single global platform, delivering measurable process performance improvements across the pharmaceutical, chemical, metals & minerals, water treatment and food & beverage other industries . Heavy Engineering Technologies (HET) An India - based business with a growing export footprint, supplies engineered - to - order critical equipment to global EPCs and customers in the nuclear, power , and oil and gas industries . Process System Technologies (PST) Delivers integrated, one - stop process systems and modular solutions for the chemical and pharmaceutical industries , along with specialized applications such as acid recovery that also serve industries including defense .
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Business Performance by Divisions: Q2FY27 CRT Corrosion Resistant Technologies PPT Process Performance Technologies HET Heavy Engineering Technologies PST Process System Technologies 16 Revenue ₹ 331 Cr ▲ +34% YoY ▲ +30% QoQ Order Intake ₹ 364 Cr ▲ +85% YoY Flat QoQ Revenue ₹ 92 Cr ▲ +38% YoY ▲ +24% QoQ Order Intake ₹ 201 Cr ▲ +254% YoY ▲ +248% QoQ Revenue ₹ 142 Cr ▲ +57% YoY ▲ +8% QoQ Order Intake ₹ 78 Cr ▼ - 46% YoY Flat QoQ Revenue ₹ 500 Cr Flat YoY ▲ +7% QoQ Order Intake ₹ 556 Cr ▲ +15% YoY ▲ +11% QoQ
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Business Performance by Divisions: H1FY27 CRT Corrosion Resistant Technologies PPT Process Performance Technologies HET Heavy Engineering Technologies PST Process System Technologies 17 Revenue ₹ 586 Cr ▲ +29% YoY Order Intake ₹ 731 Cr ▲ +74% YoY Revenue ₹ 165 Cr ▲ +17% YoY Order Intake ₹ 258 Cr ▲ +306% YoY Revenue ₹ 273 Cr ▲ +51% YoY Order Intake ₹ 157 Cr ▼ - 69% YoY* PST: *H1 FY26 order intake includes a large order of INR 355 Cr Revenue ₹ 966 Cr ▲ +5% YoY Order Intake ₹ 1,058 Cr ▲ +19% YoY
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67 58 108 74 92 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 91 86 99 131 142 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 247 262 259 255 331 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 498 477 478 466 500 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Quarterly Revenue Trend CRT - Revenue HET - Revenue PPT - Revenue PST - Revenue Figures in ₹ crores 18 YoY% QoQ% 7% Flat 30% 34% 24% 38% 8% 57%
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57 189 37 58 201 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 196 214 211 367 364 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 482 442 431 502 556 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Quarterly Order Intake Trend CRT – Order Intake HET - Order Intake 3.6% PPT – Order Intake Figures in ₹ crores 19 143 115 193 80 78 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 PST - Order Intake YoY% QoQ% 11% 15% Flat 85% 248% 254% Flat - 46%
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EBIT to PAT: Improving Flow - through 20
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EBIT to PAT: Improving Flow - through EBI T – Finance Cost Effective Tax Rate FX & Structural Leakage = PAT Initiative Timelines as of Aug’ 26 Impact on flow - through Refinancing and Debt Reduction Group - wide refinancing to restructure and reduce debt levels and remove the need to Inter – Company loans which creates FX fluctuations . Within next 12 - 18 months Lower interest cost and finance charges . Net Debt repaid of approx . 116 crores in H 1 FY 27 through internal accruals Group Tax Strategy Reviewing and simplifying current legal entity structure Within next 18 - 24 months Efficient tax structure Intercompany Loan Termination Execute the plan to unwind the inter company loan between the subsidiaries in different currency . Within next 12 - 18 months Reduces FX and tax exposure sitting below EBIT 21
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FY27 Outlook 22
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Outlook FY27 Key Priorities Execute the record order backlog: strong revenue visibility for the second half Margin improvement: driven by cost efficiencies and group - level initiatives Global supply chain ramp - up: greater use of our low - cost manufacturing sites European cost reset: right - sizing our European operations to match market conditions Stronger balance sheet and simpler structure: group - wide refinancing, debt reduction and legal entity simplification FY28 Key Drivers Four global divisions fully established: clear ownership of growth and profitability in each business Reduced European drag: restructuring benefits begin to show in Group margins Group initiatives gaining traction: cost efficiencies and greater use of low - cost manufacturing sites support profitability Stronger earnings conversion: lower finance costs from refinancing and debt reduction, and a simpler legal structure Growth supported by a strong order book: the record backlog carries momentum into FY28 FY27 Guidance EBITDA margin 10 – 11% 14 – 15% * *Adjusted EBITDA excludes loss making European entities FY28 is set to deliver stronger growth, higher margins and improved earnings. Revenue growth Double digit
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Thank You 24 www.gmmpfaudler.com
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Annexures 25
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Consolidated Financial Summary Margin and growth percentages are calculated on absolute figures . Amounts are rounded off to crores and subject to casting. * Restated for final fair values of Purchase Price Allocation for acquisition of SEMCO Technologia em Processos Ltda. , Brazil Particulars Q2 FY27 Q1 FY27 Q - O - Q Q2 FY26* Y - O - Y Operational Income 1,065 925 15% 902 18% Material Cost 466 366 27% 331 41% Other Costs 488 465 5% 450 8% Total Operating Expenses 954 831 15% 781 22% EBITDA 110 94 18% 122 - 9% EBITDA Margin (%) 10.3% 10.1% 22 bps 13.5% - 312 bps Other Income 15 10 53% 9 71% Depreciation 44 41 7% 39 12% Finance Cost 31 23 38% 30 6% Profit before tax 50 40 25% 62 - 18% Tax 15 18 - 16% 24 - 37% Profit after tax 35 22 59% 38 - 7% PAT Margin (%) 3.3% 2.4% 91 bps 4.2% - 88 bps Other Comprehensive Income 34 5 604% 50 - 31% Total Comprehensive Income 69 27 157% 88 - 21% Basic EPS ( ₹ ) 7.40 5.32 - 39% 8.86 - 16% 26 Figures in ₹ crores
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Standalone Financial Summary Margin and growth percentages are calculated on absolute figures . Amounts are rounded off to crores and subject to casting. Figures in ₹ crores Particulars Q2 FY27 Q1 FY27 Q - O - Q Q2 FY26 Y - O - Y Operational Income 279 235 19% 272 3% Material Cost 142 119 20% 129 10% Other Costs 101 91 11% 104 - 3% Total Operating Expenses 243 209 16% 233 5% EBITDA 36 26 39% 39 - 7% EBITDA Margin (%) 13.0% 11.0% 193 bps 14.4% - 142 bps Other Income 1 1 - 28% 3 - 65% Depreciation 7 7 1% 7 - 2% Finance Cost 7 6 21% 7 - 3% Profit Before Tax 23 15 59% 28 - 16% Tax 6 3 69% 7 - 19% Profit After Tax 17 11 56% 20 - 15% PAT Margin (%) 6.2% 4.7% 148 bps 7.5% - 127 bps Other Comprehensive Income - 1 0 NA - 0 429% Total Comprehensive Income 16 11 48% 20 - 18% Basic EPS ( ₹ ) 3.85 2.48 55% 4.52 - 15% 27