Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd
Gujarat Heavy Chemicals Ltd. (GHCL) reported consolidated revenues of ₹806.5 crore for Q2FY21 down by 3.5% YoY. EBITDA for the quarter contracted by 18.0% YoY to ₹159.3 crore while margins contracted by ~349bps YoY to 19.76%. Net profit for the quarter was down by 27.7% YoY to ₹84.5 crore. Numbers for the quarter were impacted due to poor performance of the soda ash division which witnessed a 11% YoY decline in revenues to ₹482 crore while EBITDA was down by 34% YoY due to sharp contraction in margins by 840bps YoY to 24.6%. Performance of the soda ash division was adversely impacted due to fall in realizations by 13% YoY. However the textiles division posted a good set of numbers for the quarter and the board has approved the demerger of the division to a separate entity. Overall the company has posted a relatively muted set of numbers for the quarter.
Shares of GHCL LTD. was last trading in BSE at Rs.162.65 as compared to the previous close of Rs. 158.05. The total number of shares traded during the day was 111295 in over 4375 trades.
The stock hit an intraday high of Rs. 168 and intraday low of 157. The net turnover during the day was Rs. 18216471.
Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only. www.equitybulls.com, its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. www.equitybulls.com or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.