GACL in advance stages of implementing Rs2,000cr projects:Gera

Gujarat Alkalies and Chemicals is in "advance stages" of implementing Rs 2,000-crore worth of projects, including a Rs 1,800-crore caustic soda plant that it is co-developing with National Aluminium Company (NALCO).

"The company is in advance stage of implementing various projects worth Rs 2,000 crore on hand. They included setting up a Rs 1,800 crore caustic soda plant, establishment of 33,870 TPA food grade phosphoric acid unit at Dahej and a hydrogen peroxide (H2O2) plant, also at Dahej," its managing director PK Gera told PTI.

NALCO and GACL had launched a joint venture to set up a Rs 1,800-cr caustic soda plant at Dahej in Gujarat in 2015.

Meanwhile, the company today reported a net profit of Rs 221.06 crore in the March quarter, against Rs 87.10 crore in the same quarter last year.

Its sales turnover was at Rs 684.46 crore, against Rs 509.96 crore.

For financial year 2017-18, the company reported a net profit of Rs 535.02 crore, against Rs 308.10 crore in the previous year, while its sales turnover stood at Rs 2,417.70 crore, against Rs 2,020.25 crore.

"This has been the result of the continuous efforts on cost control and on maintaining production and sale of its quality products at very competitive rates," Gera said.

The company today also recommended a dividend of Rs 6.50 per share.

Gera said the company during 2017-18 achieved a total production of 15,39,430 MT of various products in its basket, against 15,50,572 MT in the previous year, despite the unanticipated plant maintenance and shutdowns.

He further stated that, the company has during the year commissioned chloromethanes upgradation and de-bottlenecking project at Vadodara complex.

The company's scrip ended down 0.56 per cent at Rs 625.20 on the BSE today, against 0.93 per cent increase in the benchmark.