GHCL Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2022 • Inorganic Chemicals: 75.6% • Textiles: 24.4%
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 23.7%
- Latest quarter profit grew 32.0% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.11x)
- Company comfortably covers its interest (67.3x coverage)
- Company has a consistent dividend-paying track record
CONS
- Recent results are weak - TTM profit is down 11.3% versus prior year
- Company has delivered a poor sales growth of 4.2% over past five years
- Operating margins have contracted to 25.7% from 32.4%
- Company has delivered a poor profit growth of 9.3% over past five years
- Growth is decelerating - 3Y profit CAGR (-24.0%) trails the 5Y trend (9.3%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22305.00 | 101.35 | 201838.07 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1572.50 | 60.43 | 160061.58 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2515.00 | 34.49 | 74550.84 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4753.80 | 84.91 | 52220.49 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8796.15 | 57.15 | 45131.39 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1132.45 | 32.45 | 38146.70 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1642.10 | 28.59 | 22397.10 | 0.46 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1612.65 | 91.01 | 21404.36 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6217.65 | 23.01 | 18305.85 | 0.48 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 497.05 | 33.95 | 18029.33 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1358.70 | 17.49 | 17209.68 | 0.74 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| GHCL | 426.30 | 8.31 | 3927.53 | 2.81 | 115.64 | -23.05 | 790.51 | 1.16 | 18.12 | 22.22 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,019 | 806 | 798 | 823 | 830 | 793 | 779 | 781 | 796 | 721 | 757 | 791 | 774 | |
| 719 | 593 | 648 | 639 | 614 | 582 | 549 | 563 | 599 | 564 | 598 | 615 | 594 | |
| Operating Profit | 299 | 213 | 150 | 184 | 217 | 211 | 230 | 218 | 197 | 157 | 159 | 176 | 180 |
| OPM % | 29.40% | 26.48% | 18.80% | 22.40% | 26.11% | 26.61% | 29.54% | 27.92% | 24.78% | 21.80% | 20.98% | 22.22% | 23.27% |
| 230 | 10 | 14 | 16 | 18 | 17 | 29 | 26 | 27 | 18 | 17 | 18 | -30 | |
| Interest | 8 | 7 | 6 | 5 | 4 | 4 | 4 | 4 | 2 | 2 | 3 | 2 | 2 |
| Depreciation | 24 | 26 | 26 | 26 | 27 | 28 | 28 | 28 | 27 | 28 | 29 | 27 | 27 |
| Profit before Tax | 497 | 191 | 133 | 170 | 203 | 196 | 227 | 212 | 195 | 145 | 144 | 164 | 258 |
| Tax % | 14.27% | 25.40% | 24.90% | 26.47% | 25.92% | 21.15% | 25.90% | 27.85% | 25.84% | 26.06% | 25.94% | 26.93% | 25.76% |
| Net Profit | 426 | 143 | 100 | 125 | 151 | 155 | 168 | 153 | 145 | 107 | 107 | 120 | 191 |
| 44.81 | 15.01 | 10.50 | 13.10 | 15.80 | 16.27 | 17.69 | 15.96 | 15.17 | 11.23 | 11.34 | 12.73 | 21.04 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,754 | 2,882 | 3,371 | 3,256 | 2,491 | 3,778 | 4,551 | 3,447 | 3,183 | 3,064 | 3,043 | |
| 2,067 | 2,268 | 2,601 | 2,519 | 1,894 | 2,797 | 3,064 | 2,598 | 2,306 | 2,375 | 2,371 | |
| Operating Profit | 687 | 613 | 770 | 737 | 597 | 981 | 1,487 | 849 | 877 | 690 | 672 |
| OPM % | 24.94% | 21.29% | 22.85% | 22.63% | 23.96% | 25.98% | 32.67% | 24.62% | 27.56% | 22.50% | 22.08% |
| 34 | 36 | 14 | 16 | 7 | -14 | 89 | 271 | 90 | 80 | 23 | |
| Interest | 134 | 124 | 126 | 118 | 74 | 64 | 39 | 27 | 17 | 10 | 8 |
| Depreciation | 86 | 110 | 116 | 131 | 111 | 117 | 94 | 102 | 112 | 111 | 111 |
| Profit before Tax | 502 | 415 | 541 | 504 | 418 | 787 | 1,443 | 991 | 838 | 649 | 711 |
| Tax % | 22.94% | 12.27% | 33.28% | 19.42% | 26.62% | 27.00% | 24.27% | 19.93% | 25.28% | 26.19% | 26.13% |
| Net Profit | 387 | 365 | 361 | 406 | 307 | 574 | 1,092 | 794 | 626 | 479 | 525 |
| EPS | 38.57 | 37.08 | 36.56 | 41.51 | 32.54 | 66.35 | 117.45 | 82.90 | 65.40 | 52.08 | — |
| Dividend Payout % | 12.86% | 13.36% | 13.58% | 7.01% | 17.02% | 24.90% | 15.31% | 14.47% | 18.35% | 23.04% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 2%
- 5 Years:
- 4%
- 3 Years:
- -12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 6%
- 5 Years:
- 9%
- 3 Years:
- -24%
STOCK PRICE CAGR
- 10 Years:
- 6%
- 5 Years:
- 2%
- 3 Years:
- -12%
- 1 Year:
- -23%
RETURN ON EQUITY
- 10 Years:
- 22%
- 5 Years:
- 22%
- 3 Years:
- 19%
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 99 | 97 | 98 | 95 | 95 | 95 | 96 | 96 | 96 | 92 |
| 1,252 | 1,525 | 1,834 | 2,081 | 2,395 | 2,989 | 3,824 | 2,861 | 3,375 | 3,454 | |
| 1,431 | 1,314 | 1,267 | 1,254 | 782 | 780 | 359 | 126 | 81 | 53 | |
| Trade Payables | 334 | 382 | 408 | 406 | 376 | 342 | 243 | 194 | 165 | 280 |
| 466 | 414 | 397 | 510 | 450 | 1,010 | 604 | 484 | 463 | 420 | |
| Total Liabilities | 3,581 | 3,732 | 4,004 | 4,345 | 4,098 | 5,217 | 5,125 | 3,761 | 4,179 | 4,300 |
| 2,399 | 2,492 | 2,581 | 2,655 | 2,675 | 2,469 | 1,731 | 1,842 | 1,844 | 1,821 | |
| Capital Work in Progress | 25 | 73 | 114 | 120 | 81 | 213 | 109 | 55 | 256 | 450 |
| 9 | 10 | 47 | 34 | 40 | 17 | 380 | 420 | 651 | 1,042 | |
| 509 | 588 | 668 | 724 | 740 | 942 | 772 | 651 | 626 | 597 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 180 | 210 | 173 | |
| Cash & Bank | 32 | 24 | 28 | 105 | 46 | 242 | 140 | 491 | 446 | 90 |
| 607 | 545 | 566 | 706 | 516 | 1,335 | 1,993 | 122 | 148 | 128 | |
| Total Assets | 3,581 | 3,732 | 4,004 | 4,345 | 4,098 | 5,217 | 5,125 | 3,761 | 4,179 | 4,300 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 554 | 636 | 653 | 744 | 727 | 844 | 1,342 | 797 | 638 | 681 | |
| Cash from Investing | -374 | -279 | -306 | -215 | -109 | -344 | -440 | -534 | -358 | -284 |
| Cash from Financing | -103 | -281 | -259 | -328 | -568 | -97 | -529 | -338 | -230 | -451 |
| -32 | 4 | -5 | 85 | -57 | 198 | -70 | -75 | 50 | -54 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - The Exchange has sought clarification from GHCL Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: -1. Consolidated Financial Results not submitted The response of the Company is awaited.
2026-08-31 - GHCL Limited has informed the Exchange about Product launch
2026-08-22 - GHCL Limited has informed the Exchange about General Updates
2026-08-07 - GHCL Limited has informed the Exchange about Schedule of meet
2026-08-06 - GHCL Limited has informed the Exchange about Transcript
2026-08-03 - GHCL Limited has informed the Exchange about Link of Recording
2026-08-03 - GHCL Limited has informed the Exchange about Link of Recording
2026-08-03 - GHCL Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-01 - GHCL Limited has informed the Exchange regarding a press release dated August 01, 2026, titled "Press Release - GHCL Limited announces Q1FY27".
News
Recent coverage and analyst commentary for GHCL
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GHCL Ltd.
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