Home / Knowledge / News / Textiles / Net profit of GACL declines in Q1
Net profit of GACL declines in Q1
03
Aug '09
The Board of Directors of GACL in its meeting held at Gandhinagar on 27th July, 2009 has approved the financial results for the first quarter ended on 30th June, 2009.

Shri Guruprasad Mohapatra, IAS, Managing Director of the Company stated that Company has achieved Net Sales Rs.328.58 crore for the quarter ended on 30th June, 2009 as against Rs.343.97 crore in the corresponding period of previous year despite the on going economic slowdown.

The Profit Before Tax of first quarter has been achieved Rs.50.29 crore as against Rs.71.00 crore in the similar period of the previous year which is mainly due to impact of worldwide recession and slowdown in Indian economy. The Profit After Tax for the first quarter achieved to Rs.37.91 crore as against Rs.54.46 crore in the similar period of the previous year.

Shri Mohapatra said that during this climate of economic slowdown, as a sign of improvement in the first quarter of 2009-10, GACL could achieve Profit Before Tax of Rs.50.29 crore over Profit Before Tax of Rs.32.67 crore of Q-4 of 2008-09 (53.93% improvement). Similarly, the Profit After Tax is Rs.37.91 crore in the first quarter of 2009-10 as against Rs.21.58 crore in the Q-4 of 2008- 09 (75.67% improvement).

He also added that the financial ratios improved at the end of the first quarter as compared to the year ended on 31st March, 2009 :
i) Price Earning ratio – Rs.4.87 from Rs.2.26
ii) Debt Equity ratio – 0.15 : 1 from 0.21 : 1 and
iii) Book value per Share - Rs.169.64 from Rs.164.50

Shri Mohapatra further informed that during the current financial year the Company plans to commission additional 100TPD Flaker Unit, additional 50 TPD Caustic Soda by debottlenecking, so as to further improve upon the top line and bottom line of the Company.

The Company's announced projects viz., 90 MW captive power project, 600 TPD Chlor-Alkali project, Hydrazine project, Hydrogen Peroxide, Polyols and Phenol projects involving an investment of about Rs.2,600 crore are progressing as scheduled and are expected to go on stream by FY 2012. The Joint Venture Projects of the Company with Dow Chemicals for chloromethanes and for Phenol group with GNFC/GSFC are progressing well.

Besides the above, the Company has identified new products like Calcium Chloride, Bleaching Powder and Toluene based chemicals to be added to improve its top line by out -sourcing through contract manufacturing.

Gujarat Alkalies & Chemicals Ltd


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search