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GACL - The Profit Before Tax of third quarter is Rs.36.16 crore shows an increase of 97.60% as compared with Rs.18.30 crore in the similar period of the previous year

Thu, 02/02/2012 - 11:23pm
IndiaPRwire

Vadodara, Gujarat, January 28, 2012 /India PRwire/ --

The Board of Directors of GACL in their meeting held at Gandhinagar on 27th January, 2012 has approved the financial results for the third quarter ended on 31st December, 2011.

Shri M S Dagur, IAS, Managing Director of the Company stated that the Company has achieved Net Sales of Rs.440.89 crore for the quarter ended on 31st December, 2011 against Rs.344.04 crore in the corresponding quarter of the previous year. Net Sales for the nine months ended on 31st December, 2011 achieved at Rs.1,276.10 crore against Rs.1,022.45 crore in the corresponding period of the previous year despite competitive market conditions.

The Profit Before Tax of third quarter is Rs.36.16 crore shows an increase of 97.60% as compared with Rs.18.30 crore in the similar period of the previous year, which is mainly due to improvement in sales volume and price realizations for Caustic Soda Group, Caustic Potash Group, Phosphoric Acid, Sodium Cyanide, Ploy Aluminium Chloride Group, Aluminium Chloride, Chlorinated Parafin Wax and Benzyaldehyde products. The Profit After Tax for the quarter achieved at Rs.25.94 crore which also shows an increase of 35.17% as compared with Rs.19.19 crore in the similar period of the previous year.

The Profit Before Tax for the nine months ended on 31st December, 2011 has increased by 145.16% to Rs.152.22 crore as compared with Rs.62.09 crore in the corresponding period of previous year. Similarly, the Profit After Tax for the said period also increased by 87.59% to Rs.109.40 crore as compared with Rs.58.32 crore in the corresponding period of the previous year.

He also added that the annualised financial ratios improved at the end of the third quarter as compared to the year ended on 31st March, 2011 :

i) Earning Per Share - Rs.19.87 from Rs.15.56

ii) Cash Earning per Share - Rs.46.55 from Rs.35.42

iii) Return on Equity - 9.39% from 6.11%

iv) Debt Equity ratio - 0.13 : 1 times from 0.15 : 1 times

v) Book value per Share - Rs.211.50 from Rs.197.55

vi) Interest Coverage Ratio - 19.23 times from 14.07 times

vii) Debt Service Coverage Ratio - 1.63 times from 1.24 times

He further said that the Company has already got three Projects registered with United Nations Framework Convention on Climate Change (UNFCCC) under Clean Development Mechanism (CDM) Projects and has taken action for few more projects including Wind Mill projects to be registered during the Financial Year 2011-12. It has got 1,66,000 CER's approved by UNFCCC and plans to monetise the same in due course of time.

The Company has already announced projects involving an investment of about Rs.2,600 crore and these projects are progressing as scheduled and are expected to go on stream by FY 2014-15.

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