NSE: GHCL · BSE: 500171 · ISIN INE539A01019
GHCL Limited stock analysis
GHCL Limited ranks #1500 in the TickerSutra evidence-ranked universe with a score of 53/100 and 95% data confidence. The latest captured fundamentals show ROCE of 17.4%, quarterly sales growth of 1.2% and quarterly profit growth of -23.1%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.02×
- Strong CFO/EBITDA of 1×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Promoter holding is below 25%
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2021 | ₹2,491cr | ₹605cr | ₹326cr | 24.0% |
| 2022 | ₹3,052cr | ₹730cr | ₹650cr | 24.0% |
| 2023 | ₹4,551cr | ₹1,503cr | ₹1,142cr | 33.0% |
| 2024 | ₹3,447cr | ₹851cr | ₹794cr | 25.0% |
| 2025 | ₹3,183cr | ₹877cr | ₹624cr | 28.0% |
| 2026 | ₹3,064cr | ₹690cr | ₹472cr | 22.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Intimation regarding GHCL Limited was declared preferred bidder for Mining lease
RoutineAwarding of order(s)/contract(s)NSE · 23 Sept 2026GHCL Limited has informed the Exchange about Awarding of order(s)/contract(s)
Positive CatalystBagging/Receiving of orders/contracts (Sub-para 4-Para B)NSE · 23 Sept 2026 · Structured filingGHCL Limited has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B)
GHCL Limited has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B)
Open original XBRL sourceMANAGEMENT COMMENTARY
Signals from filed documents
Good evening, everyone, and a warm welcome to our earnings call for the first quarter ended 30th June 2026. Our overall performance remains steady and reported margin improvement during the quarter. This is a result of our focus on operatio nal excellence cost control and efficient financial discipline.
But in terms of the Vacuum Salt, all the trial production has been done. Now hopefully, in this quarter, the production -- commercial production will start. And like I said, in this quarter, maybe in the fourth quarter of this year, I think full utilization of this project should happen.
I would caution against reading this as a new normal. The ongoing global conflict is likely to feed into our energy and raw material costs over the coming quarters. Going forward, we expect margin to moderate from current level and revert to more normalized trend driven by the domestic demand, higher captive industry production and softening realization.
As one of India’s leading soda ash manufacturers, GHCL operates its flagship facility at Sutrapada, Gujarat, with an annual production capacity of 1.2 million MTPA. The plant plays a pivotal role in serving domestic demand and also catering to export markets. India’s soda ash market continues to benefit from structural growth drivers, including expansion in glass manufacturing (including solar glass), detergents, inf
GHCL has enjoyed competitive advantage due to the following factors: Efficiencies that come with scale, as the largest single site producer Oversight of professional management, that has experience of over 3 decades in the field Culture of innovation driving operational efficiency Driving excellence across the value chain – right from procurement and production to marketing, and distribution. Backward integration int
Over time, these value-added downstream projects will contribute to GHCL product diversification, thus curtailing any adverse industry cycle impact on our business. Our Greenfield project, this is a significant strategic investment and part of our long -term goal, and we will continue to provide updates as project milestones are achieved. The external environment this quarter has been demanding and the current pricin
Capitals Impacted Capitals Impacted Responsibility Responsibility Managing Director with Board CFO & ED (Finance) with IT Head Social and relationship capital Intellectual capital Capex & non-capex growth New product and process enhancement Risk overview Risk overview GHCL ’s long-term competitiveness and market leadership depend on its ability to execute capital and non-capital growth projects efficiently and in ali
Failure to address community concerns or deliver inclusive growth may result in reputational damage, project delays, or operational disruption. GHCL operates in a dynamic regulatory landscape where evolving governance norms, sustainability disclosures, and compliance requirements pose ongoing challenges. Inadequate alignment with these expectations can lead to reputational risk, legal exposure, and stakeholder diseng
• E nhance user awareness and policy compliance: Training employees on IT security practices, data protection policies, and emerging cyber risks. Capitals Impacted Capitals Impacted Responsibility Responsibility Managing Director with Board CFO & ED (Finance) with IT Head Social and relationship capital Intellectual capital Capex & non-capex growth New product and process enhancement Risk overview Risk overview GHCL
Consequent to the said allotment, the issued and paid-up Equity Share Capital of the Company has increased from H 91,93,41,550 comprising 9,19,34,155 equity shares of H 10 each to H 92,13,06,550 comprising 9,21,30,655 equity shares of H 10 each. Employee Stock Options Scheme (ESOP): Our Employee Stock Options Scheme (ESOP scheme), designed for permanent employees, was approved by shareholders on July 23, 2015, with i
Global soda ash market continues to face pressure with supply exceeding demand and price remains weak. The current pricing environment is a continuation of a cycle that has been unfolding over a period of 2 years. China demand recovery has been slower than expected, and this continues to weigh on the global market sentiments.
V C / OAVM facility provided by the Company, is having a capacity to allow at least 1000 members to participate the meeting on a first-come-first-served basis. Members holding 2% or more shareholding), promoters, institutional investors, directors, KMPs, the Chairperson of the Audit & Compliance Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee, auditors etc. may be allowed to a
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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