Gokul Refoils' Q3 net clocks 15.9% growth

One of the leading edible oil companies in FMCG sector, Gokul Refoils and Solvent Limited (GRSL), has posted a growth of 15.9 per cent in its net profit for the third quarter ended December 31, 2010 of the financial year 2010-11.

Net profit of Gokul Refoils grew to Rs 21.27 crore for Q3 this year as compared to Rs 18.35 crore in the corresponding period of the previous financial year. EBIDTA for the quarter was Rs 53.37 crore, a growth of 30.2 per cent over the corresponding quarter in the previous year. The company clocked a turnover of Rs 1217.81 crore during the third quarter of FY 2010-11, up by 41.3 per cent from Rs 861.98 crore during the corresponding period of the previous year. For the nine months period ended December 31, 2010, Gokul Refoils has posted 72.6 per cent rise in total revenue at Rs 3380.5 crore compared to Rs 1959.1 crore in the corresponding period last fiscal.

Net profit during this period grew by 49.4 per cent at Rs 51.55 crore as compared to Rs 34.51 crore in the corresponding period last year. EBITDA for the nine months period ended December 30, 2010 increased by 45.6 per cent to Rs 138.00 crore compared to Rs 94.78 crore. The company has increased its production capacity from 1914000 million tonnes (MT) (as on March 31, 2010) to 2214000 MT up to December 31, 2010.

It is further increasing its capacities up to 2484000 MT with the CWIP of 200 TPD for mustard chillex plant/300 TPD for solvent plant at Sidhpur plant and 400 TPD for castor seed processing at Gandhidham plant.