GHCL announces Q1 FY24 financials: Revenue and profits experience a dip

GHCL, a chemical manufacturer in India, has disclosed its financial metrics for Q1 FY24. The results spotlighted a reduction in net revenue by 11% to Rs. 1029 crores, compared to Rs. 1153 crores in Q1 FY23.

Financial Comparatives: Q1 FY24 vs. Q1 FY23

The Q1 FY24 figures showcased several key changes from the previous year. The EBIDTA slipped by 15%, settling at Rs. 310 crores as against the Rs. 364 crores of Q1 FY23. Net profit, after excluding the exceptional gain, saw a 16% decrement, tallying at Rs. 207 crores from Rs. 246 crores in the preceding year. However, the inclusion of an exceptional gain of Rs. 219 crores from the demerger of the Textile business elevated the net profit by 38% to Rs. 426 crores in comparison to Rs. 310 crores in Q1 FY23.

GHCL’s Business Framework

GHCL Limited specializes in the production of Soda Ash and Sodium Bicarbonate, vital constituents for the detergent and glass sectors. Following a strategic demerger, its spinning venture has branched out to GHCL Textiles Limited, ensuring a diverse range of fibre outputs for both the domestic and international markets.

MD’s Insight on Q1 FY24 Performance

R S Jalan, Managing Director at GHCL, shared, “We began FY24 with a resilient performance despite challenging market conditions… As we continue our focus on growth through continuous improvement… our strategic expansions and commitment to sustainable business practices will ensure value creation for our stakeholders going forward”.