GHCL surges 10% on healthy March quarter results
The company posted 44% YoY growth in net profit at Rs 119 crore in Q4FY19 against Rs 82 crore in a year ago quarter.
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GHCL
GHCL surged 10 per cent to Rs 265 in early morning trade on the BSE on the back of heavy volumes after the company reported a healthy 44 per cent year-on-year (YoY) growth in net profit at Rs 119 crore in the March quarter (Q4FY19). The commodity chemicals company had registered a profit of Rs 82 crore in the year-ago quarter.
Net revenue for the quarter grew by 26 per cent to Rs 915 crore as compared to Rs 726 crore in the corresponding quarter ended March 31, 2018.
Ebitda (earnings before interest, tax, depreciation and amortization) margin improved 80 basis points (bps) to 26.3 per cent from 25.5 per cent in the previous year quarter.
The management said a strong performance during the quarter has been mostly due to the company’s efforts towards building process efficiencies in chemical business and the preponement of Brownfield expansion leading to volume gains.
The company's board of directors recommended a dividend of Rs 5 or 50 per cent for the financial year ended March 31, 2019. The board also approved capital budget of Rs 126 crore for the fiscal 2019-20.
In chemicals, GHCL mainly manufactures Soda Ash (Anhydrous Sodium Carbonate) that is a major raw material for detergents & glass industries and Sodium Bicarbonate (baking soda). Its textiles operations is an integrated set up which commences right from spinning of fiber (yarn), weaving, dyeing, printing till the finished products, like sheets & duvets, which are primarily exported worldwide.
At 09:37 am, GHCL was up 7 per cent at Rs 259 on the BSE, as compared to a 0.19 per cent rise in the S&P BSE Sensex. The trading volumes on the counter have jumped nine-fold with a combined 994,349 shares changed hands on the NSE and BSE so far.
Net revenue for the quarter grew by 26 per cent to Rs 915 crore as compared to Rs 726 crore in the corresponding quarter ended March 31, 2018.
Ebitda (earnings before interest, tax, depreciation and amortization) margin improved 80 basis points (bps) to 26.3 per cent from 25.5 per cent in the previous year quarter.
The management said a strong performance during the quarter has been mostly due to the company’s efforts towards building process efficiencies in chemical business and the preponement of Brownfield expansion leading to volume gains.
The company's board of directors recommended a dividend of Rs 5 or 50 per cent for the financial year ended March 31, 2019. The board also approved capital budget of Rs 126 crore for the fiscal 2019-20.
In chemicals, GHCL mainly manufactures Soda Ash (Anhydrous Sodium Carbonate) that is a major raw material for detergents & glass industries and Sodium Bicarbonate (baking soda). Its textiles operations is an integrated set up which commences right from spinning of fiber (yarn), weaving, dyeing, printing till the finished products, like sheets & duvets, which are primarily exported worldwide.
At 09:37 am, GHCL was up 7 per cent at Rs 259 on the BSE, as compared to a 0.19 per cent rise in the S&P BSE Sensex. The trading volumes on the counter have jumped nine-fold with a combined 994,349 shares changed hands on the NSE and BSE so far.