GMM Pfaudler Bags Rs 3 Bn European Defence Contract

24 Jun 2025 CW Team

Process equipment manufacturer GMM Pfaudler announced that its wholly owned German subsidiary, Pfaudler Normag Systems GmbH, has secured an international order worth EUR 33.2 million (approximately Rs 3 billion). The contract was awarded by a European manufacturer engaged in light and medium weapons, ammunition, and tool production for both defence and civilian use.

According to the stock exchange filing on June 19, the four-year contract covers the design, engineering, and supply of complete end-to-end acid recovery equipment and systems. Pfaudler Normag will receive an upfront payment of 30 per cent upon signing the agreement. The identity of the client remains undisclosed due to confidentiality clauses.

GMM Pfaudler expects the project to contribute significantly to revenue over its execution period.

Financially, GMM Pfaudler reported a net loss of Rs 270 million for the January–March quarter, compared to a net profit of Rs 276 million in the same period last year. The loss excludes one-off closure-related costs totalling Rs 477 million, including severance payouts, inventory write-offs, and asset impairments. Total exceptional costs stood at Rs 430 million for Q4 FY25 and Rs 504 million for the full year.

Revenue from operations rose by 8.9 per cent year-on-year to Rs 8.07 billion, up from Rs 7.41 billion in the previous year’s fourth quarter. However, EBITDA fell by 57.5 per cent to Rs 833 million, with margins narrowing to 10.3 per cent from 12.1 per cent year-on-year.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..