GHCL

GHCL Limited

Soda ash, bromine and vacuum salt manufacturer

Commodities›Chemicals›Chemicals & Petrochemicals›Commodity Chemicals

ghcl.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹390.75
Market cap
3,592 Cr
Stock P/E
7.6
P/B
1.01
Dividend yield
3.2%
ROE (FY26)
13.3%
ROCE (FY26)
18.0%
Operating margin (FY26)
18.9%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
99.8%
OCF / EBITDA (3Y)
88.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

GHCL makes soda ash, a commodity chemical bought mainly by the glass (including solar glass) and detergent industries in India, and is adding bromine and vacuum salt products to reduce its dependence on soda ash.

Company snapshot

6thBy market cap

Ranked among 24 companies in Commodity Chemicals.

Segment mix

Reportable segments as of 2022-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 81.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Inorganic Chemicals
81.1%
3,266 Cr1,120 Cr—
Textiles
18.9%
762 Cr71 Cr—
Un-allocated—0 Cr0.02 Cr—

What we see

Positives
  • ✓Net margin of 15.4% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Sales1,017 Cr805 Cr797 Cr823 Cr830 Cr793 Cr779 Cr781 Cr796 Cr721 Cr757 Cr791 Cr
Operating expenses (approx.)719 Cr592 Cr648 Cr639 Cr614 Cr582 Cr549 Cr563 Cr599 Cr564 Cr598 Cr615 Cr
EBITDA298 Cr213 Cr149 Cr184 Cr217 Cr211 Cr230 Cr218 Cr197 Cr157 Cr159 Cr176 Cr
OPM %29.3%26.5%18.7%22.4%26.1%26.6%29.5%27.9%24.8%21.8%21.0%22.2%
Other income12 Cr11 Cr16 Cr17 Cr18 Cr17 Cr29 Cr23 Cr27 Cr17 Cr16 Cr14 Cr
Interest8 Cr7 Cr6 Cr5 Cr4 Cr4 Cr4 Cr4 Cr2 Cr2 Cr3 Cr2 Cr
Depreciation24 Cr26 Cr26 Cr26 Cr27 Cr28 Cr28 Cr28 Cr27 Cr28 Cr29 Cr27 Cr
Profit before tax497 Cr191 Cr133 Cr170 Cr203 Cr196 Cr227 Cr209 Cr195 Cr145 Cr143 Cr160 Cr
Tax %14.3%25.4%24.9%26.6%25.9%21.1%25.9%28.2%25.9%26.2%26.1%27.7%
Net profit426 Cr143 Cr100 Cr125 Cr151 Cr155 Cr168 Cr150 Cr144 Cr107 Cr106 Cr116 Cr
EPS (₹)₹44.82₹15.02₹10.50₹13.12₹15.81₹16.28₹17.70₹15.72₹15.10₹11.16₹11.26₹12.28

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,973 Cr2,994 Cr3,341 Cr3,305 Cr2,900 Cr3,778 Cr4,545 Cr3,447 Cr3,183 Cr3,064 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,292 Cr2,388 Cr2,582 Cr2,577 Cr2,264 Cr2,799 Cr3,064 Cr2,599 Cr2,307 Cr2,375 CrSign in free for the trailing twelve months
EBITDA681 Cr606 Cr759 Cr728 Cr636 Cr979 Cr1,481 Cr847 Cr876 Cr689 CrSign in free for the trailing twelve months
OPM %22.9%20.2%22.7%22.0%21.9%25.9%32.6%24.6%27.5%22.5%Sign in free for the trailing twelve months
Other income40 Cr38 Cr16 Cr18 Cr27 Cr12 Cr39 Cr52 Cr88 Cr73 CrSign in free for the trailing twelve months
Interest137 Cr127 Cr127 Cr120 Cr91 Cr64 Cr39 Cr25 Cr16 Cr9 CrSign in free for the trailing twelve months
Depreciation86 Cr110 Cr117 Cr131 Cr133 Cr117 Cr94 Cr102 Cr112 Cr111 CrSign in free for the trailing twelve months
Profit before tax495 Cr407 Cr531 Cr495 Cr439 Cr881 Cr1,497 Cr992 Cr836 Cr642 CrSign in free for the trailing twelve months
Tax %23.3%12.5%33.9%19.8%25.6%26.6%23.7%20.0%25.3%26.4%Sign in free for the trailing twelve months
Net profit380 Cr356 Cr351 Cr397 Cr326 Cr647 Cr1,142 Cr794 Cr624 Cr472 CrSign in free for the trailing twelve months
EPS (₹)₹38.26₹36.48₹35.81₹40.50₹34.32₹67.89₹120.06₹83.43₹65.50₹50.17Sign in free for the trailing twelve months
Dividend payout %————0.2%8.0%12.5%21.0%18.3%24.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital99 Cr97 Cr98 Cr95 Cr95 Cr95 Cr96 Cr96 Cr96 Cr92 Cr
Reserves1,247 Cr1,513 Cr1,827 Cr2,054 Cr2,389 Cr2,990 Cr3,860 Cr2,883 Cr3,393 Cr3,460 Cr
Borrowings1,245 Cr1,153 Cr1,111 Cr1,075 Cr605 Cr767 Cr348 Cr197 Cr98 Cr62 Cr
Other liabilities913 Cr865 Cr959 Cr945 Cr888 Cr1,142 Cr830 Cr594 Cr599 Cr686 Cr
Total liabilities3,504 Cr3,628 Cr3,995 Cr4,169 Cr3,978 Cr4,995 Cr5,133 Cr3,770 Cr4,185 Cr4,300 Cr
Fixed assets (net)2,400 Cr2,488 Cr2,578 Cr2,636 Cr2,657 Cr2,455 Cr1,719 Cr1,810 Cr1,807 Cr1,788 Cr
CWIP25 Cr73 Cr114 Cr120 Cr81 Cr213 Cr109 Cr55 Cr256 Cr450 Cr
Investments9 Cr10 Cr20 Cr18 Cr27 Cr17 Cr380 Cr420 Cr651 Cr1,042 Cr
Loans & advances——3 Cr2 Cr2 Cr8 Cr1 Cr9 Cr7 Cr0.90 Cr
Inventories584 Cr637 Cr769 Cr791 Cr764 Cr944 Cr772 Cr651 Cr626 Cr597 Cr
Trade receivables276 Cr229 Cr291 Cr274 Cr228 Cr229 Cr218 Cr180 Cr210 Cr173 Cr
Cash & bank9 Cr12 Cr12 Cr92 Cr35 Cr244 Cr123 Cr49 Cr99 Cr44 Cr
Other assets200 Cr180 Cr209 Cr237 Cr184 Cr886 Cr1,811 Cr595 Cr530 Cr206 Cr
Total assets3,504 Cr3,628 Cr3,995 Cr4,169 Cr3,978 Cr4,995 Cr5,133 Cr3,770 Cr4,185 Cr4,300 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity458 Cr590 Cr530 Cr624 Cr622 Cr643 Cr856 Cr797 Cr638 Cr687 Cr
Cash from investing-375 Cr-279 Cr-271 Cr-205 Cr-109 Cr-337 Cr-403 Cr-534 Cr-358 Cr-291 Cr
Cash from financing-113 Cr-308 Cr-258 Cr-339 Cr-570 Cr-98 Cr-536 Cr-338 Cr-230 Cr-451 Cr
Net cash flow-30 Cr2 Cr0.60 Cr80 Cr-57 Cr209 Cr-83 Cr-75 Cr50 Cr-55 Cr
Free cash flow (OCF − Capex)81 Cr302 Cr247 Cr409 Cr510 Cr643 Cr499 Cr691 Cr323 Cr424 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %24.4%19.3%21.7%19.1%17.1%24.5%35.7%32.0%23.8%18.0%
ROE %28.2%22.1%18.2%18.5%13.1%21.0%28.9%26.7%17.9%13.3%
Debtor days34283230292217192421
Inventory days199211224230244231219216245239
Days payable114127011918484657365112
Cash conversion cycle11911225614289169172162204148
OCF / EBITDA %67.3%97.3%69.8%85.8%97.8%65.7%57.8%94.0%72.8%99.8%
OCF / EBITDA % (3 years)——77.1%83.3%83.7%80.7%68.5%69.4%71.5%88.0%
Debt / equity0.920.720.580.500.240.250.090.070.030.02
Current ratio——1.081.341.691.423.714.305.314.38
Net debt / EBITDA1.811.881.451.350.900.540.150.17-0.00130.03