GHCL, India’s leading chemical company, has announced that its net revenue grew by 50 percent to Rs. 4,584 cr in fiscal 2022-23 (FY23) compared to Rs.3,061 cr in FY22. EBIDTA also saw significant growth of 106 percent to Rs.1,520 cr in FY23, compared to Rs.737 cr in FY22. Profit after tax (PAT) grew by 159 percent to Rs.1,092 cr in FY23 compared to Rs.422 cr in FY22.
Similarly, for the fourth quarter (Q4) of FY23 compared to Q4 FY22, the standalone performance of the company’s continued operations saw strong growth. The revenue grew by 8 percent to Rs.1,141 cr in Q4 FY23, reflecting an increase from Rs.1,058 cr in the corresponding quarter ended March 31, 2022. EBITDA also grew by 10 percent to Rs.370 cr, compared to Rs. 338 cr in the corresponding quarter last year. The PAT showed a significant increase of 25 percent to Rs. 251 cr in Q4 FY23 as against Rs. 200 cr in the corresponding quarter last fiscal, the company said.
Additionally, the company has demerged its spinning business (effective 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, R S 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.”
