GHCL, India’s largest Chemical & Textile Company, has reached a 52-week high of Rs397.70 per share following the release of the company’s financial results for the first quarter of fiscal year 22 on Thursday.
India’s leading private sector companies have reported strong growth in the first quarter of FY22, with revenue growing on a sequential basis by 4% and net profit margins at 12%.
GHCL’s Inorganics chemicals division’s revenue is Rs527cr in Q1 FY22 as compared to Rs531cr in the Q4 FY21 and Rs346cr in corresponding quarter in FY21. Home Textiles business revenue is at Rs327cr in Q1FY22, as compared with Rs290cr in same period last year. This was possible despite severe disruptions witnessed due to localized restrictions and lockdowns on account of the second wave of the pandemic. GHCL said it has commenced the new fiscal year ‘on an encouraging note’
“I am pleased to share that we have received consent from secured creditors for the demerger of textiles, and we will now be approaching the honorable NCLT for their approval. Inorganic chemicals business demonstrated healthy volume growth with positive realizations supported by consistent demand in the key end user categories. We believe this positive trend will continue going forward as demand has been stabilizing and we are also looking to expand our portfolio to add some products to leverage our scale and expertise”