GHCL, India’s leading Chemical & Textile Company, announced its financial results for Q1 FY23.
Commenting on the financial performance, R S Jalan, Managing Director, GHCL said, “In the first quarter of FY23, demand for our products continued to stay strong delivering a Top line growth of 96%, while EBITDA improved by 169 percent and PAT recorded a growth by 3x. Going forward, we will continue our focus on improving customer experience, operational effectiveness, financial viability and profitability. We are on track with the demerger and are well poised to keep delivering on our commitment to create value for all our stakeholders”.
Financial Performance (Standalone performance)
Q1 FY23 VS Q1 FY22: Net Revenue grew by 96 percent during Q1 FY23 to Rs. 1371 cr as compared to Rs. 699 cr in the corresponding quarter of previous year. EBIDTA grew by 169 percent to Rs. 429 cr as compared to Rs. 159 cr in the Q1 FY22. Net Profit grew by 300 percent to Rs. 339 cr as compared to Rs. 85 cr in the Q1 FY22
Business Segments (Q1FY23 VS Q1FY22): Inorganics Chemicals division’s revenue grew by 108 percent to Rs. 1096 cr in Q1 FY23 as compared to Rs. 527 cr in the Q1 FY22. Textiles business revenue grew by 60 percent to Rs. 275 cr in Q1FY23 as compared to Rs. 172 cr in the Q1 FY22.
Other Financial Highlights: Inaugurated its new spinning unit at Manaparai in Madurai District of Tamil Nadu.
