Gujarat Alkalies & Chemicals Ltd., an Indian chlor-alkali manufacturer has reported its financial results for the period ended March 31, 2020.
For the quarter, the company has posted a net profit of Rs 11.40 crores ($1.5 million), a 93.3% decline as against Rs 168.93 crores ($22.3 million) during the prior-year quarter.
Net sales declined by 23.4% to Rs 639.64 crores ($84.6 million) for the quarter as compared to Rs 835.12 crores ($110.4 million) during the prior-year quarter.
The company’s net profit dropped by 52% to Rs 332.09 crores ($43.9 million) for the full-year period ended March 31, 2020 as against Rs 690.19 crores ($91.3 million) for the full-year period ended March 31, 2019.
The company has reported net sales of Rs 2814.37 crores ($372.2 million) during the full-year period ended March 31, 2020, a 13% decline compared to Rs 3222.15 crores ($426.1 million) during the full-year period ended March 31, 2019.
“We have been consistently striving towards the cost reduction and have been able to maintain the production levels and sell its quality products at competitive rates,” its Managing Director P K Gera said.
He stated that the company during 2019-20 also achieved the total production of 1.66 MMT of various products in its basket as against 1.59 MMT in the previous year, a 4.44% annual increase.
He further said the company commissioned 10.8 TPD (tons per day) Anhydrous Sodium Sulphate, 50 TPD Anhydrous Aluminium Chloride, 45 TPD Stable Bleaching Powder and Wastewater Treatment Plants at Dahej Complex and 20 MW Solar Power Plant at Patan, Gujarat.
The company has reported EPS of Rs 45.22 ($0.6) for the full-year period ended March 31, 2020 as compared to Rs 93.98 ($1.24) for the full-year period ended March 31, 2019.