GMM Pfaudler Limited said 50 percent of its order intake over the first nine months of FY26 came from non-traditional industries, reflecting a shift away from its historical dependence on chemicals and pharmaceuticals. The company also secured large defence and nuclear project orders, positioning heavy engineering and mixing as key growth drivers.
“What is also very encouraging is that now 50% of our order intake over the last nine months and the corresponding backlog comes from non-traditional industries,” said Tarak Patel, Managing Director of GMM Pfaudler Limited. “So, when I say non-traditional industries, I mean these are orders not from chemical and pharma.”
The company reported a defence order close to USD 30 million and a nuclear order close to about USD 15 million during the period. In addition, its systems business previously secured a large defence-linked order of approximately INR 3.3 billion. Patel said these wins demonstrate the company’s capability to execute large and complex projects beyond its traditional glass-lined equipment portfolio.
The large defence order (close to USD 30 million) is linked to the company’s systems business in Europe, where management noted significant order intake driven by increased defence spending in the region. The nuclear order (close to USD 15 million) relates to equipment supplied to the Nuclear Power Corporation of India, with the heavy engineering business executing ancillary equipment such as pressure vessels and heat exchangers for Indian nuclear power plants.
Heavy engineering continues to expand its contribution, supported by capacity available at the existing site. “We have enough of capacity to hit maybe about INR 600 crores to INR 700 crores mark from this very site,” Patel said. This equates to approximately INR 6 billion to INR 7 billion in potential revenue without significant additional investment. He added that no major capital expenditure is required in the near term to reach that level.
The business is also moving up the value chain, with a growing share of stainless steel, Hastelloy and titanium equipment compared with earlier reliance on carbon steel. The nuclear segment includes ancillary equipment such as large pressure vessels, heat exchangers and columns supplied to nuclear power plants.
The company is also building its global mixing platform, comprising operations in France, China, Canada, Brazil and India. “This is something where we expect further growth to come and especially also marginal improvement, because, as I said before, this is from our perspective an attractive margin business,” said Alexander Poempner, Group Chief Financial Officer of GMM Pfaudler Limited.
The diversification strategy comes as global chemical markets remain subdued, with the company indicating that exposure to defence, nuclear, oil and gas, metals and other sectors is helping stabilise performance.
GMM Pfaudler Limited manufactures glass-lined equipment, heavy engineering systems and mixing solutions for chemical, pharmaceutical and industrial applications, with operations across India, Europe, the Americas and China.
GMM Pfaudler Limited is a publicly listed Indian company promoted by the Patel family, with additional shareholding held by institutional and public investors. In India, it operates its primary glass-lined manufacturing facility at Karamsad, Gujarat, and a heavy engineering facility serving sectors such as oil and gas and nuclear; its former Hyderabad glass-lined plant has been closed following capacity consolidation.
