AHMEDABAD, India, November 9, 2017 /PRNewswire/ --

The Board of Directors of GACL, in their meeting held at Gandhinagar on 8th November, 2017, have approved the financial results for the second quarter ended on 30th September, 2017

Gujarat Alkalies and Chemicals Ltd. (GACL) takes pride in announcing that it has continued to achieve new milestones of highest ever Net Sales, Profit Before Tax and Profit After Tax for the second quarter and first six months ended on 30th September, 2017.

Effective from 1st July, 2017, the Company has implemented GST (Goods & Service Tax) on its sale of products replacing the applicability of erstwhile Excise Duty, VAT and Service Tax till 30th June, 2017. The financial results therefore, represents the compliance effect of GST and its applicable Ind As 18 - 'Revenue'.

For the six months ended on 30th September, 2017, the overall production growth was 1.07% as against corresponding period of previous year.

During the second quarter ended on 30th September, 2017, GACL achieved Net Sales of Rs. 589.23 crore (an increase of 13.65%) as against Rs. 518.45 crore in the corresponding period of previous year.

During the first six months ended on 30th September, 2017, GACL achieved Net Sales of Rs. 1,121.50 crore (an increase of 8.48%) as against Rs. 1,033.83 crore in the corresponding period of previous year.

Profit Before Tax for the second quarter of Financial Year 2017-18 has soared to Rs. 148.42 crore (an increase of 29.81%) as against Rs.114.34 crore in the corresponding period of previous year.

Profit Before Tax for the first six months of Financial Year 2017-18 has significantly improved to Rs. 276.59 crore (an increase of 22.21%) as against Rs. 226.32 crore in the corresponding period of previous year.

Profit After Tax for the second quarter of Financial Year 2017-18 has soared to Rs. 106.39 crore (an increase of 21.70%) as against Rs.87.42 crore in the corresponding period of previous year.

Profit After Tax for the first six months of Financial Year 2017-18 has significantly improved to Rs. 201.75 crore (an increase of 16.16%) as against Rs. 173.68 crore in the corresponding period of previous year.

The installation of 15MW solar power is under progress and the company is confident to commission the same as per schedule during the current financial year.

The annualised financial ratios based on performance of first six months of 2017-18 vis-à-vis F. Y. 2016-17 are as under:


   
                                                          H-1 F. Y.
                                                          2017-18          F. Y.
    Sr. No.   Financial Ratios            Unit          (Annualised)      2016-17


    i)        Earning Per Share           Rs. / Share      54.94          41.95
    ii)       Cash Earning per Share      Rs. / Share      93.42          67.09
    iii)      Price Earning ratio         Times            10.19           9.72
    iv)       Return on Equity            Percentage       11.32           9.31
    v)        Debt Equity Ratio           Times             0.08           0.09
    vi)       Gross Profit Ratio          Percentage       31.27          25.02
    vii)      Interest Coverage Ratio     Times            45.77          39.39

About Gujarat Alkalies and Chemicals Ltd.: 

Gujarat Alkalies and Chemicals Ltd. (GACL) was established in the year 1973 in Vadodara, Gujarat with a view to manufacture caustic soda and allied products. Today, by harping on cutting-edge technology, ground-breaking research and development, GACL has emerged as one of the largest manufacturers of caustic soda with about 14% share in the national market. Today, the company has installed production capacity of 4,29,050 MT per annum of caustic soda and spread over two complexes at Vadodara and Dahej in Gujarat. 

For more information, please visit: http://www.gacl.com


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Pritesh Trivedi
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Source: Gujarat Alkalies and Chemicals Ltd.