GHCL Posts QoQ Revenue Growth, Profit Marginally Lower
GHCL Ltd., one of India’s leading chemical manufacturers, reported a stable operational performance for the third quarter of FY26, with revenue showing sequential growth even as profitability remained under pressure due to challenging market conditions in the soda ash segment.
On a quarter-on-quarter (QoQ) basis, net revenue increased 4.6% to Rs 773 crore, compared with Rs 739 crore in Q2 FY26. EBITDA remained largely flat at Rs 175 crore, while net profit declined marginally by about 0.6% to Rs 106.7 crore.
However, on a year-on-year (YoY) basis, performance was lower. Net revenue declined 4.6% from Rs 807 crore in Q3 FY25, while EBITDA fell 32.1% and net profit declined 36.6%, reflecting pressure on margins and pricing in the soda ash market.
Commenting on the results, R. S. Jalan, Managing Director, GHCL Ltd., said the company’s performance remained consistent with the previous quarter despite a stabilizing yet challenging operating environment. He noted that the domestic soda ash market continues to face headwinds due to the influx of lower-priced imports and aggressive global pricing.
He added that GHCL has nevertheless maintained industry-leading margins and continues to focus on long-term growth initiatives. During the quarter, the company also successfully completed a Rs 300 crore share buyback programme, a key financial milestone.
On the project front, GHCL said its bromine and vacuum salt diversification projects are in the final stages of execution and remain on track for commissioning by the end of Q4 FY26, although heavy monsoon conditions in Gujarat caused minor delays.
The company maintained a positive long-term outlook, supported by diversification plans and ongoing investments aimed at strengthening its business portfolio.
