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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


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