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GHCL Home Textiles shows steady growth trends for Q1
30
Jul '08
GHCL Limited released the results for quarter ended June 2008.

Highlights
- Income from Operations for period at Rs. 325.80 Crores as against Rs. 256.57 Crores reported in June 07 is higher by 26.98%.

- Textiles division revenue during the period accounts for 31.73% (Rs.96.36 Crores) of the total business, with a growth of 10.81%.

- Textiles division revenue during the period strengthens its position with a growth of 10.81% over the previous year.

- EBIDTA for the period was at Rs. 85.30 Crores as against Rs. 67.31 Crores reported in June 2007, higher by 26.72%.

- Profit After Tax for the period at Rs. 38.01 Crores as against Rs. 31.55 Crores reported in the quarter ended June 2007 is higher by 20.49%.

Highlights – India Operations

- The company set to launch its exclusive range home textiles retail chain stores in the country

- Home Textiles Holding Entity of GHCL to be called Fabient. Company in the process of implementing the new look of Fabient across its Home Textile facilities in India.

Overseas Operations
- The Company restructures its US home textiles business under one Global B2B vehicle to pursue its vision of enhancing B2B operations.

- Creating focused verticals for its US business wherein all its institutional & hospitality businesses (supplies to hotel chains, Restaurants, Laundries, hospitals) to come under one vertical.

- Capital Invest programs covering capacity enhancement, efficiency improvement in the Romanian Soda Ash Operations is progressing as scheduled, to increases overseas production capacity to 3,00,000 TPA

Commenting on the performance, Mr. Sanjay Dalmia, Chairman, GHCL Limited, said: “The first quarter performance clearly reflects efficacy of our business model wherein the changing market conditions has a minimal affect on the growth. The home textiles business is showing steady growth trends while the soda ash business during the period witnessed a strong growth which we would like to consolidate going forward.

The forthcoming launch of our retail operations in the domestic market augurs well for the company as this would help us fully leverage the business model put in place where in we successfully integrated the Indian and foreign operations in the home textiles businesses.

GHCL would continue to improve overall efficiencies for better productivity and margins to address the emerging situations in the market environment and deliver value to the stakeholders across the categories. We expect to bring in a strong performance in the coming quarters.”

Results overview
Corresponding 3 Months ended June 2008 Vs June 2007:

The Company has posted a strong financial performance for quarter ended June 2008

Net Sales/ Income from operations increased by 26.98 % to Rs. 325.8 Crores from Rs. 256.57 Crores reported during the corresponding quarter of the previous year

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