GHCL reports 126% growth in Q4 FY22 net profit to Rs 244cr
GHCL has reported a profit after tax of INR 244 crores for the fourth quarter of the fiscal year (Q4 FY22), a 126% growth, compared to INR 108 crores for the same quarter in the previous fiscal year.
The Indian chemical and textile company said that its revenue for the reported quarter ended 31 March 2022 was INR 1,279 crores, an increase of 77%, compared to INR 723 crores in Q4 FY21.
The chemical division of GHCL earned revenue of INR 1,001 crores in Q4 FY22, a 52% year-over-year (YoY), compared to INR 531 crores in Q4 FY21.
GHCL’s home textile business earned revenue of INR 278 crores in the reported quarter, a 51% growth YoY, compared to INR 192 crores in Q4 FY21.
For the fiscal year 2022, the profit after tax of GHCL was INR 574 crores, an increase of 87%, compared to INR 307 crores in FY21.
The company’s FY22 revenue was INR 3,789 crores, a 52% increase, compared to INR 2,498 crores in FY21.
Commenting on GHCL Q4 FY22 results, RS Jalan — Managing Director of GHCL said: “We have ended the year on a strong note, delivering a topline growth of 77% and healthy EBITDA margins of 32.1 % during the year. Net profits for the year are at a record growth of 126%.
“We have also successfully achieved the key strategic milestone of the divestiture of Home Textiles to Indo Count Industries as per plan.
“The demand supply dynamic in Soda Ash and inclined costs have allowed industry meaningful and much needed price appreciation. The firmness is supported by resilient consumption trends domestically.
“Despite rising costs of key inputs, GHCL has been able to maintain a margin momentum because of its focus on efficiency and agility. We continue to monitor the real-time situation and are flexible to adjusting our response in the light of further inflationary pressures.
“Our Spinning business delivered noticeable gains in sales, driven by the higher contribution from the value-added products and better pricing trends.”