GHCL EBIDTA up by 26.72% to Rs 85.30 cr

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GHCL EBIDTA up by 26.72% to Rs 85.30 cr

This article was posted on Jul 30, 2008 and is filed under Press Releases

GHCL Limited – Summary of financial performance for the quarter ended June 2008

Highlights: Income from Operations for period at Rs. 325.80 Crores as against Rs. 256.57 Crores reported in June 07 is higher by 26.98%.
Textiles division revenue during the period accounts for 31.73% (Rs.96.36 Crores) of the total business, with a growth of 10.81%.
Textiles division revenue during the period strengthens its position with a growth of 10.81% over the previous year.
EBIDTA for the period was at Rs. 85.30 Crores as against Rs. 67.31 Crores reported in June 2007, higher by 26.72%.
Profit After Tax for the period at Rs. 38.01 Crores as against Rs. 31.55 Crores reported in the quarter ended June 2007 is higher by 20.49%.
Highlights – India Operations

The company set to launch its exclusive range home textiles retail chain stores in the country
Home Textiles Holding Entity of GHCL to be called Fabient. Company in the process of implementing the new look of Fabient across its Home Textile facilities in India.
Overseas Operations

The Company restructures its US home textiles business under one Global B2B vehicle to pursue its vision of enhancing B2B operations.
Creating focused verticals for its US business wherein all its institutional & hospitality businesses (supplies to hotel chains, Restaurants, Laundries, hospitals) to come under one vertical.
Capital Invest programs covering capacity enhancement, efficiency improvement in the Romanian Soda Ash Operations is progressing as scheduled, to increases overseas production capacity to 3,00,000 TPA
Commenting on the performance, Mr. Sanjay Dalmia, Chairman, GHCL Limited, said: “The first quarter performance clearly reflects efficacy of our business model wherein the changing market conditions has a minimal affect on the growth. The home textiles business is showing steady growth trends while the soda ash business during the period witnessed a strong growth which we would like to consolidate going forward.

The forthcoming launch of our retail operations in the domestic market augurs well for the company as this would help us fully leverage the business model put in place where in we successfully integrated the Indian and foreign operations in the home textiles businesses.

GHCL would continue to improve overall efficiencies for better productivity and margins to address the emerging situations in the market environment and deliver value to the stakeholders across the categories. We expect to bring in a strong performance in the coming quarters.”
Results overview

Corresponding 3 Months ended June 2008 Vs June 2007:

The Company has posted a strong financial performance for quarter ended June 2008

Net Sales/ Income from operations increased by 26.98 % to Rs. 325.8 Crores from Rs. 256.57 Crores reported during the corresponding quarter of the previous year

The EBITDA in the present quarter increased 26.72 % to Rs. 85.30 Crores from Rs. 67.31 Crores.

The Profit After Tax has increased by 20.49 % in 3 Months period ended June 2008 to Rs.38.01 Crores from Rs. 31.55 Crores reported in the quarter ended June 2007.

EPS for the quarter was at Rs. 3.82 (basic)

Business Mix:

Textiles division revenue during the quarter (June 2008) accounts for 31.73 % (Rs. 96.36 Cr.) of the total business, with a growth of 10.81 % YoY.
Soda Ash revenue during the quarter (June 2008) accounted for 64.30% (Rs. 195.28 cr.) of the total business.

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