GHCL Ltd
NSE:GHCL
GHCL Ltd
GHCL Ltd. engages in the manufacture and trading chemical and textile products. The company is headquartered in Noida, Uttar Pradesh and currently employs 3,655 full-time employees. The firm is engaged in the business of manufacturing and trading of chemicals and yarn. The Company’s business includes chemicals and spinning businesses. In Chemicals, the Company mainly manufactures soda ash (Anhydrous Sodium Carbonate) that is used as a raw material for detergents and glass industries, and sodium bicarbonate (baking soda). The firm's Soda Ash is available in two categories: light soda ash, dense soda ash. The company also produces sodium bicarbonate, and these products are marketed in India under the brand name LION. In textiles, the Company's spinning unit at Madurai, Tamil Nadu produces various varieties of fiber (yarn), which is sold to domestic consumers as well as exported worldwide.
GHCL Ltd. engages in the manufacture and trading chemical and textile products. The company is headquartered in Noida, Uttar Pradesh and currently employs 3,655 full-time employees. The firm is engaged in the business of manufacturing and trading of chemicals and yarn. The Company’s business includes chemicals and spinning businesses. In Chemicals, the Company mainly manufactures soda ash (Anhydrous Sodium Carbonate) that is used as a raw material for detergents and glass industries, and sodium bicarbonate (baking soda). The firm's Soda Ash is available in two categories: light soda ash, dense soda ash. The company also produces sodium bicarbonate, and these products are marketed in India under the brand name LION. In textiles, the Company's spinning unit at Madurai, Tamil Nadu produces various varieties of fiber (yarn), which is sold to domestic consumers as well as exported worldwide.
Revenue Resilience: Q3 revenue rose to INR 773 crores, up from INR 739 crores last quarter, despite lower prices and a planned shutdown.
Margin Pressure: EBITDA margin declined to 22.7%, dropping 100 bps quarter-on-quarter due to falling realizations from increased imports.
Operational Efficiency: Management mitigated margin erosion through strong cost controls and higher sales volumes, offsetting lost production.
Shareholder Returns: The company completed a INR 300 crores buyback and distributed a total of INR 415 crores to shareholders over 9 months, exceeding net profit.
Diversification Progress: Bromine and vacuum salt projects are near completion and expected to commission by Q4, though initial top-line impact will be modest.
Import Headwinds: Imports of soda ash into India rose 10% year-on-year, and the government did not impose antidumping duty, adding competitive pressure.
Greenfield Delay: Expansion project faces land acquisition delays; commissioning now targeted by 2030 for both phases if approvals come through.
Demand Outlook: Soda ash demand in India remains healthy at around 5% growth, with solar sector expected to drive further increases.
