AHMEDABAD, India, Sept. 27, 2019 /PRNewswire/ — Gujarat Alkalies and Chemicals Ltd. successfully conducted its 46th Annual General Meeting on 27th September 2019. Shri P. K. Gera, IAS, Managing Director of the Company, has presided the meeting as Chairman. He provided clarification to the shareholders on issues that they raised during the meeting.
Sharing more about the performance in the Financial Year 2018-19, he added that the Company had achieved highest ever production in Chlorine, Caustic Potash Lye, Caustic Potash Flakes, Chloromethanes, Hydrogen Peroxide and Aluminium Chloride at Vadodara Complex and Phosphoric Acid, Caustic Soda Lye, Chlorine, Poly Aluminium Chloride, Hydrogen Peroxide, Aluminium Chloride, Chlorotoluene products and Stable Bleaching Powder at Dahej Complex. He also informed that the Company had surpassed the highest ever sales turnover of Rs.2,418 Crores (excluding Excise Duty), once again, in the last Financial Year and achieved sales turnover of Rs.3,102 Crores during the Financial Year 2018-19.
Talking about the finance, he stated that despite keen competition and adverse market conditions, the Company generated a higher level of Gross Profit of Rs.1,176 Crores as against Rs.892 Crores in the previous year. The Company also achieved the highest ever Profit Before Tax of Rs.1,015 Crores and Profit After Tax of Rs.690 Crores as against Rs.750 Crores and Rs.535 Crores, respectively in the previous year. The Earning Per Share was Rs.93.91 per Share for the year as against Rs.72.85 per Share in the previous year. The Book value of Share increased to Rs.582 per Share as on 31st March 2019 as against Rs. 517 per Share at the end of the previous year, registering a growth of Rs.65 per share.
He further added that during the First Quarter of current Financial Year 2019-20, GACL achieved sales turnover of Rs.728 Crores as against Rs.744 Crores in the corresponding period of the previous year. The Company also achieved Profit Before Tax of Rs.228 Crores and Profit After Tax of Rs.159 Crores as against Rs.259 Crores and Rs.183 Crores, respectively in the corresponding period of the previous year. He further informed that the Board of Directors of the Company had recommended a Dividend of Rs.8.00 per share (i.e.80%) on 7,34,36,928 Equity Shares of Rs.10/- each fully paid-up for the Financial Year ended 31st March 2019.
He also announced the growth plans through which the Company aspires to reach an annual turnover of Rs. 5,000 Crores by Financial Year 2021-22, from the current level of Rs. 3,100 Crores.
Talking about the new projects, he stated that a 14,000 TPA Hydrogen Peroxide Plant and 32,000 TPA Poly Aluminium Chloride Plant were successfully commissioned during the Financial Year 2018-19. The other Projects, namely, 1,05,000 TPA Chloromethanes Plant, 33,870 TPA Food Grade Phosphoric Acid Plant, 10,000 TPA Hydrazine Hydrate Plant, 15,000 TPA Stable Bleaching Powder (SBP) Plant, 16,500 TPA Anhydrous Aluminium Chloride (AAC) Plant and Expansion of present Caustic Soda Plant from 785 TPD to 1,310 TPD along with 65 MW Coal based Power Plant, all at Dahej, are at different stages of implementation.
The project for the establishment of 800 TPD Caustic Soda Plant integrated with a 130 MW Coal based Power Plant at Dahej, as a Joint Venture with NALCO, was also well underway.
Sharing further about the Company’s efforts towards promoting green technology, he informed about the installation and commissioning of another 20 MW Solar Power Project at Charanka, Gujarat. With this installation, the aggregate installed renewable energy capacity of the Company has reached 35 MW for Solar Power and 171.45 MW for Wind Power, which would cater more than 25% of Company’s energy requirements.
Before closing the proceedings, he expressed his gratitude to Directors, Shareholders and Employees of the Company. He also thanked the Central & State Government, Promoters, Bankers, Auditors, Customers, Agents, Dealers, Suppliers and other stakeholders for their continued support and co-operation to the Company at all times. At the conclusion, he answered various questions of shareholders and expressed vote of thanks.
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.
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