By: ICN Bureau
Last updated : April 30, 2023 10:31 pm
GHCL’s revenue grew by 50% to Rs. 4,584 crores in FY23 as against Rs. 3,061 crores in FY22
GHCL has posted 8% increase in its net revenue of Rs1,141 crores during the quarter ended March 31, 2023 as compared to Rs. 1,058 crores in the corresponding quarter ended March 31, 2022. EBIDTA grew by 10% to Rs. 370 crores as compared to Rs. 338 crores in the corresponding quarter last year. Net Profit (PAT) grew by 25% to Rs. 251 crores as against Rs. 200 crores in the corresponding quarter last fiscal.
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 digitalization, sustainable transformation and value creation for our stakeholders”.
For the Financial Year ended March 31, 2023, GHCL’s revenue grew by 50% to Rs. 4,584 crores as against Rs. 3,061 crores in FY22. EBIDTA grew by 106% to Rs. 1,520 crores in FY23 as against Rs.737 crores in FY22. Profit After Tax grew by 159% to Rs. 1,092 crores as against Rs. 422 crores in FY22
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.