India's GHCL's revenue up 50% to ₹4,584 cr in FY23

Similarly, for the fourth quarter (Q4) of FY23 compared to Q4 FY22, the standalone performance of the company's continued operations saw strong growth. The revenue grew by 8 per cent to ₹1,141 crore in Q4 FY23, reflecting an increase from ₹1,058 crore in the corresponding quarter ended March 31, 2022. EBIDTA also grew by 10 per cent to ₹370 crore, compared to ₹338 crore in the corresponding quarter last year. The PAT showed a significant increase of 25 per cent to ₹251 crore in Q4 FY23 as against ₹200 crore in the corresponding quarter last fiscal, the company said in a media release.

Additionally, the company has demerged its spinning business (effective from April 1, 2023) from GHCL Limited to GHCL Textiles Limited, to create strong independent businesses uniquely positioned to enhance stakeholders' value over time.

Commenting on the financial performance, R S Jalan, MD, GHCL Limited, said: “In the last quarter, the global Soda Ash demand-supply situation was by and large balanced. We did take a cut in the Soda ash prices last month mostly attributable to a dip in global energy prices, making it possible to pass on the benefits to our customers.

“Going forward, the outlook for the business continues to remain positive due to improvements in economic activity and demand increase for a wider set of applications like solar glass and lithium-ion batteries. As we move into the next fiscal, we shall continue our focus on enhancing operational excellence, executing expansion projects, and implementing growth initiatives focused on digitalisation, sustainable transformation and value creation for our stakeholders.”

Fibre2Fashion News Desk (KD)