Arthneeti

GHCL Q1 FY27 Share Price & Earnings Call Analysis

₹388.70+0.57% today
Market cap
₹3,579 Cr
P/E
7.83
ROE
12.97%
PEG
-0.30
Price to sales
1.17
Debt to equity
0.02
52W high / low
₹648 / ₹376
Sales growth (5Y)
4.23%
EBITDA margin
22.50%
Net profit margin
14.90%
Promoter holding
19.83%
Sales (last year)
₹3,064 Cr

Established 1983, GHCL Limited is engaged in the business of manufacturing and trading of Inorganic Chemicals (Soda Ash).[1][2]

Guidance scorecard · Q1 FY27 call

What GHCL Ltd's management guided
and where it ranks in Chemicals & Petrochemicals

#67of 71 in
Chemicals & Petrochemicals
Revenue10–20%MarginsDown 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Indian soda ash demand is expected to grow strongly, driven by expanding solar glass capacity and other end-uses such as detergents.
  • Solar glass currently consumes ~1.5 lakh tonnes of soda ash, projected to rise to 3.5 lakh tonnes with new capacity commissioning by Q4 FY27, accounting for ~8% of domestic demand.
  • Two new projects (Vacuum Salt and Bromine), commissioned recently, will contribute incremental revenue (~INR150-170 crores) and EBITDA (40-45% margins) from FY27 onwards.
  • Greenfield soda ash project faces land acquisition delays; once resolved, will add significant EBITDA and diversify product basket.
  • Management focused on operational efficiencies and cost leadership to benefit from market recovery and demand growth.

2 more points from GHCL Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Down 0–2%

See what GHCL Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The Greenfield Soda Ash project is facing delays mainly due to land acquisition challenges; no clear timeline currently.
  • No new capacity addition projects are planned beyond the two ongoing projects and the Greenfield project.
  • Strategic investments in downstream projects (Vacuum Salt and Bromine) aim to diversify product portfolio and add significant EBITDA (~INR 150-170 crores revenue with 40-45% margin).
  • GHCL holds net cash surplus (>INR 1,000 crores as of Q1 FY27) to support strategic capex and growth opportunities.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what GHCL Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what GHCL Ltd said on the order book →

Full Q1 FY27 analysis
Full Chemicals & Petrochemicals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does GHCL Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹263 Cr3.4
240%+Flat₹4,375 Cr83.7
340%+Flat₹3,259 Cr4.0
440%+Flat₹145 Cr15.9
520–40%Up 2%+₹1.81L Cr90.9
620–40%Up 2%+₹48,366 Cr78.3

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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals ranking

GHCL Ltd announcements

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Financials of GHCL Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of GHCL Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +1,1201,019805798823830793779781796721757791
Expenses +771719592648639614582549563599564598615
Operating Profit349299213150184217211230218197157159176
OPM %31%29%26%19%22%26%27%30%28%25%22%21%22%
Other Income +-32301114171817292327171614
Interest10876544442232
Depreciation27242626262728282827282927
Profit before tax309497191133170203196227209195145143160
Tax %27%14%25%25%26%26%21%26%28%26%26%26%28%
Net Profit +227426143100125151155168150144107106116
EPS in Rs23.7044.6014.9410.4313.0415.7316.1717.5915.6915.0011.1111.5312.58

Financials of GHCL Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +2,3562,5312,7842,9193,3413,3052,4913,7784,5453,4473,1833,064
Expenses +1,8281,9012,1032,3132,5822,5761,8862,7973,0482,5962,3062,375
Operating Profit5286296816077597296059821,497851877689
OPM %22%25%24%21%23%22%24%26%33%25%28%22%
Other Income +-15-33738161618581242708873
Interest17116513712712712074643927179
Depreciation85828611011713111111794102112111
Profit before tax2573804954075314954378591,489991836642
Tax %29%32%23%13%34%20%25%25%23%20%25%26%
Net Profit +1822583803563513973266471,142794624472
EPS in Rs18.1925.7838.0436.5935.7741.7534.3367.79119.4182.9465.1851.39
Dividend Payout %12%0%13%14%14%7%16%0%15%14%18%23%

Financials of GHCL Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital10010099979895959596969692
Reserves6709361,2471,5131,8272,0542,3892,9903,8602,8833,3933,460
Borrowings +1,3241,3651,4631,3221,3021,25478278836121011983
Other Liabilities +7585486946957677667121,122816581578665
Total Liabilities2,8512,9493,5043,6283,9954,1693,9784,9955,1333,7704,1854,300
Fixed Assets +1,9342,0492,4102,5022,5912,6642,6752,4741,7311,8421,8441,821
CWIP73726741171228121310955256450
Investments21591012915173804206511,042
Other Assets +9098481,0591,0431,2751,3751,2072,2922,9141,4531,435987
Total Assets2,8512,9493,5043,6283,9954,1693,9784,9955,1333,7704,1854,300

Financials of GHCL Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +416509458590530624621643856797638687
Cash from Investing Activity +-127-249-375-279-271-206-109-337-403-534-358-291
Cash from Financing Activity +-296-252-113-308-258-339-569-98-536-338-230-451
Net Cash Flow-88-302180-57209-83-7550-55
Free Cash Flow28425882308257418510306506691336424
CFO/OP91%96%83%109%82%101%120%86%87%116%98%124%

Financials of GHCL Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days382636293230332218192421
Inventory Days193194187182199198245204177185217199
Days Payable1551101071091061021217453555794
Cash Conversion Cycle76110117101125126158152142149183126
Working Capital Days-39-48-30-12102661701595058166
ROCE %22%25%24%19%21%19%15%25%35%21%24%18%

Guidance history

How GHCL Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Down 0–2%Planned——
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →0–10%FlatPlanned——
Q2 FY26 call →0–10%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

9out of 100

Momentum score · price trend

9 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−40.0%11%
Last 6 months−23.3%14%
Last 3 months−11.7%36%

The price is 48.8% below its all-time high of ₹758.5 (3 Jan 2025). Stocks more than 20% below their peak have their score halved, so 17 became 9.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For GHCL Ltd: 0.4 × 11 + 0.4 × 14 + 0.2 × 36 = 17, halved to 9 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What GHCL Ltd's management said in earlier quarters

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