GHCL Limited, India’s leading chemical & spinning company, Q3 FY23 net revenue grew by 28% to Rs. 1,289 crore as compared to Rs. 1006 crore in the corresponding quarter ended Dec 31, 2021.

EBITDA grew by 50% to Rs. 376 crore as compared to Rs. 251 crore in the corresponding quarter last year. Net Profit (PAT) grew by 62% to Rs. 248 crore as against Rs. 153 crore in the corresponding quarter last fiscal.

Commenting on the financial performance, R. S. Jalan, Managing Director, GHCL said, “We have reported a robust financial performance during the quarter under review despite a one-time production loss of 15K MT attributed to plant maintenance in October. The inorganic chemicals segment continued to perform well with a 38% increase in revenue mostly due to positive pricing scenarios and strong domestic demand especially in the glass segments. We received the regulatory approval to enhance our production capacity from 11L MT to 12L MT, which will deliver operational and strategic benefits to the business. Soda Ash is an important raw material for various industries and enhancing production capacities in India will help the industry contribute towards India’s growth story and creating an “Atmnirbhar Bharat."

"The Textiles business did face some headwinds due to price and demand corrections. We believe that the business shall gain positive traction in the next 2-3 quarters as the business sentiments turn positive. We will continue our focus on various growth initiatives and sustainable business practices. We are positive that our experience and expertise will ensure industry leading value creation in the years to come,” added Jalan.

Inorganics Chemicals division’s revenue grew by 38% to Rs. 1,057 crore in Q3FY23 as compared to Rs. 765 crore in the corresponding quarter in FY22. Textiles business revenue declined by 3% to Rs. 233 crore in Q3FY23 as compared to Rs. 241 crore in the corresponding quarter in FY22.

The company has received requisite regulatory consent amendment for increase in its Soda Ash production capacity from 11,00,000 Ton per annum (TPA) to 12,00,000 TPA as per consent condition.