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Gujarat Alkalies and Chemicals Ltd. Surpasses its Historical Level and Achieves Highest Ever Performance on Sales Turnover, PBT and PAT

Gujarat Alkalies and Chemicals Ltd. Surpasses its Historical Level and Achieves Highest Ever Performance on Sales Turnover, PBT and PAT

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) AHMEDABAD, India, May 29, 2019/PRNewswire/ --The Board of Directors, in the meeting held at Gandhinagar on 28th May, 2019 has approved the Audited Financial Results for the fourth quarter and year ended on 31st March, 2019 along with the Audited Financial Statements for the year ended on 31st March, 2019 on standalone as well as consolidated basis.The Managing Director of the Company informed that during the Financial Year 2018-19, the Company has achieved the highest ever performance on Sales Turnover, Profit Before Tax (PBT) and Profit After Tax (PAT).He further informed that, in spite of the stiff competition and unstable market conditions during the year, the Company could achieve the Sales Turnover of Rs.3,102.32 crore (Previous year Rs.2,417.70 crore). With the margins improved during the year, the Company could achieve Profit Before Tax of Rs.1,015.02 crore (Previous year Rs.750.22 crore) and Profit After Tax of Rs.689.65 crore (Previous year Rs.535.02 crore). This has been the result of the consistent efforts on cost control and on maintaining production and sale of its quality products at very competitive rates.He further informed that, the Board has recommended for approval of the shareholders a Dividend of 80% on equity Shares of Rs.10/- each, i.e., Rs.8.00 per share.He stated that the Company has during the year 2018-19, achieved the total production of 15,92,093 MT of various products in its basket as against 15,39,430 MT in the previous year, despite the unanticipated plant maintenance and shutdowns.He further stated that, the Company has during the year commissioned 14,000 TPD Hydrogen Peroxide Plant at Dahej Complex, Replacement of 700 old generation II elements with more energy efficient generation VB+ elements and 32,000 TPD Poly Aluminium Chloride Plant at Vadodara Complex and 15MW Solar Power Plant at Charnka, Dist. Patan, Gujarat.Details of Financial performance for the fourth quarter are the balancing figures between the Audited result for the year ended on 31st March, 2019 and unaudited financial result published till 31st December, 2018.For the Fourth quarter ended on 31st March, 2019, the Sales Turnover achieved at Rs.802.99 crore (Previous year Rs.684.46 crore) and Profit Before Tax achieved at Rs.249.16 crore as against Rs.319.52 crore in the corresponding quarter of the previous year. The Profit After Tax for the fourth quarter ended on 31st March, 2019 achieved at Rs.169.83 crore as against Rs.221.06 crore in the corresponding quarter of the previous year. It may be noted that the Company had Rs.48.17 crore as other income in the Fourth quarter of last year, which is not there in the Fourth quarter of current year.As on 31st March, 2019, the Earning Per Share (EPS) soared to Rs.93.91 as against Rs.72.85 for the previous year. The Return on Equity (ROE) stands at 16.13% as against 14.10% in the previous year.As on 31st March, 2019, the Debt: Equity Ratio stands at 0.04: 1 as against 0.06: 1 in the previous year.The Company is in advanced stage of implementing various projects on hand. 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. For more information, please visit: http://www.gacl.com.Source: Gujarat Alkalies and Chemicals Ltd. (GACL) PWRPWR