- The company reported strong financial results for FY23 and Q4 FY23.
- In FY23, net revenue grew by 50 per cent to ₹4,584 crore, while EBIDTA and profit after tax grew significantly by 106 per cent and 159 per cent, respectively.
NE BUSINESS BUREAU
AHMEDABAD, MAY 1
GHCL, India’s leading chemical company, has announced on Saturday that its profit after tax (PAT) showed a significant increase of 25 per cent to ₹251 crore in Q4 FY23 as against ₹200 crore in the corresponding quarter last fiscal, the company said in a media release here on Monday.
The revenue grew by 8 per cent to ₹1,141 crore in Q4 FY23, reflecting an increase from ₹1,058 crore in the corresponding quarter ended March 31, 2022. EBIDTA also grew by 10 per cent to ₹370 crore, compared to ₹338 crore in the corresponding quarter last year.
The company also reported that its net revenue grew by 50 per cent to ₹4,584 crore in fiscal 2022-23 (FY23) compared to ₹3,061 crore in FY22. EBIDTA also saw significant growth of 106 per cent to ₹1,520 crore in FY23, compared to ₹737 crore in FY22. Profit after tax (PAT) grew by 159 per cent to ₹1,092 crore in FY23 compared to ₹422 crore in FY22.
Further, the company has demerged its spinning business with effect from April 1, 2023 from GHCL Limited to GHCL Textiles Limited, to create strong independent businesses uniquely positioned to enhance stakeholders’ value over time.
Commenting on the financial performance, RS Jalan, MD, GHCL Limited, said: “In the last quarter, the global Soda Ash demand-supply situation was by and large balanced. We did take a cut in the Soda ash prices last month mostly attributable to a dip in global energy prices, making it possible to pass on the benefits to our customers.
“Going forward, the outlook for the business continues to remain positive due to improvements in economic activity and demand increase for a wider set of applications like solar glass and lithium-ion batteries. As we move into the next fiscal, we shall continue our focus on enhancing operational excellence, executing expansion projects, and implementing growth initiatives focused on digitalisation, sustainable transformation and value creation for our stakeholders,” he added.
