By: ICN Bureau
Last updated : January 29, 2022 10:43 am
Inorganics Chemicals division’s revenue grew by 45% to Rs. 765 crore in Q3 FY22
GHCL, a well-diversified group with ascertained footprints in chemicals and spinning business net revenue from continued operations for Q3 FY22 grew by 42% to Rs. 1,006 crore as compared to Rs. 709 crore in the corresponding quarter ended Dec 31, 2020.
EBITDA from continued operations grew by 38% to Rs. 251 crore as compared to Rs. 182 crore in the corresponding quarter last year. Net Profit (PAT) including discontinued operations grew by 48% to Rs. 163 crore as against Rs. 111 crore in the corresponding quarter last fiscal.
Inorganics Chemicals division’s revenue grew by 45% to Rs. 765 crore in Q3 FY22 as compared to Rs. 528 crore in the corresponding quarter in FY21 whereas Textiles business revenue from continued operations grew by 34% to Rs. 241 crore in Q3 FY 22 as compared to Rs. 180 crore in the corresponding quarter in FY 21.
Commenting on the financial performance, R. S. Jalan, Managing Director, GHCL said, “Following easing of lockdown restrictions and improving macro trends, we witnessed enhanced traction across industries, almost back to pre-pandemic levels. Moreover, we observed sequential improvement during the quarter supported by favorable demand supply dynamics backed by a positive pricing scenario."
"In the Inorganic Chemical segment, we reported solid performance momentum with 12% volume growth in Soda Ash in Q3 FY22 along with healthy realization gains backed by strong demand from key end user industries. Spinning segment continued to do well, driven by higher demand off take and firm yarn prices. Our focus on value-added products is yielding profitability gains on a higher base," commented Jalan.
"On a strategic note, we have proposed to divest our home textile business, while retaining the highly profitable spinning business. The divestment proceeds will be prudently utilized across growth initiatives outlined in both Chemicals and Spinning Businesses. On the other hand, GHCL is continuing with its objective of having separate entities for each business vertical with a limited change that instead of the entire Textiles Business, only the Spinning Division of GHCL is now proposed to be demerged to the GHCL Textiles Limited. Overall, we are very well poised to capitalize on the emerging opportunities across our businesses,” added Jalan.