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GHCL to restructure its business
29
Jan '08
GHCL a $700 million multi product transnational company operating under the domain of home textiles & soda ash is to restructure its business.

Financials modalities being worked out to restructure company's business into separate verticals of Soda Ash and Home Textiles & the Retail.

As per the proposed plan, the erstwhile GHCL would continue to be listed on the Indian stock exchanges housing the businesses of soda ash.

In Home textiles, the Retail entity which would have the business of India & UK retail ventures and Global Sourcing entity would also be listed separately.

The plan envisages shifting the business of Rosebys UK to the Retail Company here in India, which kick starts with a turnover of more than Rs.1000 crores.

Speaking on the initiative, Mr. Sanjay Dalmia, Chairman GHCL Said, “This would unlock a substantial value for the shareholders of the company through a focused approach across individual verticals of Soda Ash and Home Textiles & Retail.

The Creation of an independent focused organization in the high growth arena of Home Textiles Retail business would enhance the financial flexibility for the retail business to independently raise resources for future growth.

It would also give the opportunity for an optimal valuation of the retail business as an independently and separately listed entity.”

He added further that given the length and breath of its presence in the UK and the brands company services within its retail outfits (from Well known established UK brands to global brands like Disney etc), the Retail entity should command a substantial value based on its top line

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