By: ICN Bureau
Last updated : October 30, 2021 8:56 am
EBITDA grew by 24% to Rs. 201 crore as compared to Rs. 162 crore in the Q2 FY21 whereas Net Profit grew by 40% to Rs. 109 crore as compared to Rs. 78 crore in the Q2 FY21
GHCL, India’s leading Chemical & Textile company, Q2 FY 22 net revenue has shown 27% growth during Q2 FY22 to Rs. 987 crore as compared to Rs. 779 crore in the corresponding quarter previous year.
Commenting on the financial performance, R. S. Jalan, Managing Director, GHCL said, “We have demonstrated a robust performance during the quarter under review after navigating through the severe second wave of Covid-19 pandemic. Our performance was bolstered by steep economic recovery across the country validated by sequential uptick in demand cycles and positive pricing scenario. In addition, improved vaccination coverage and a growing sense of normalcy has led to enhanced consumption, especially June onwards."
"Our Inorganic Chemicals segment continues to witness strong demand from downstream segments. There is a significant increase in energy and raw material costs. However, with a favorable demand scenario we have been able to pass this increase to our customers. We remain on track to further cement our leadership position in Inorganic Chemicals through modular expansions and debottlenecking. That said, our focus on diversifying from the soda-ash business and expanding our product basket remains unabated," said Jalan.
Going forward, we are confident of generating strong cash flows with a healthy balance sheet while delivering sustained earnings performance,” added Jalan.
EBITDA grew by 24% to Rs. 201 crore as compared to Rs. 162 crore in the Q2 FY21 whereas Net Profit grew by 40% to Rs. 109 crore as compared to Rs. 78 crore in the Q2 FY21
Inorganics Chemicals division’s revenue grew by 19% to Rs. 572 crore in Q2 FY22 as compared to Rs. 482 crore in the Q2 FY21. Home Textiles business revenue grew by 40% to Rs. 415 crore in Q2FY22 as compared to Rs. 297 crore in the Q2 FY21.