Indian chemical & textile firm GHCL posts gains in April-June 2021

29 Jul '21

2 min read

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GHCL Limited, an India-based well-diversified group with an ascertained footprint in chemicals, textiles and consumer products segment, has seen revenue growth on sequential basis in first quarter of fiscal 2021-22. Revenue for the quarter stood at ₹854 crore as compared to ₹821 crore in Q4 FY21 and ₹440 crore in same quarter last year (94 per cent growth).

EBITDA for April-June quarter stood at ₹189 crore as compared to ₹195 crore in Jan-March 2021 and ₹84 crore in same quarter of 2020.

Net profit for Q1 FY22 stood at ₹101 crore as against ₹104 crore in the previous quarter and ₹17 crore in Q1 FY21.

Home Textiles business revenue of the company stood at ₹327 crore in the first quarter of the current fiscal compared to ₹290 crore in Q4 FY21 and ₹94 crore in corresponding quarter of FY21.

“We have commenced the new fiscal year on an encouraging note with substantial gains across all our business segments. This was possible despite severe disruptions witnessed in Q1 due to localised restrictions and lockdowns on account of the second wave of the pandemic. I am glad that our teams have positively responded to this crisis and ensured business continuity. I would like to extend my gratitude to our entire workforce for their relentless contribution and would like to assure them that the company will do what is required to protect and support them," said GHCL managing director RS Jalan.

Recently, GHCL received consent from secured creditors for the demerger of textiles, and the company will now approach the National Company Law Tribunal (NCLT) for its approval.

"In the textile business, we witnessed initial temporary disruption due to the second wave of COVID, however this has now been normalised and we are operating at peak utilisation levels in both spinning and home textiles based on strong demand scenario and have achieved record profits during the quarter.

"Overall, our endeavour is to further amplify our leadership position across key product categories to bolster the performance momentum and create enhanced value for our stakeholders,” added Jalan.

Fibre2Fashion News Desk (RKS)

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