Gujarat Alkalies Confident Of Meeting Rs 5,000-Crore Revenue Target By March 2022
The revenue target of Rs 5,000-crore is no big deal, Gujarat Alkalies’ Managing Director PK Gera said.
Gujarat Alkalies & Chemicals Ltd. said it’s on track to achieve its projected Rs 5,000-crore revenue growth target by March 2022, helped by capacity expansion and higher sales of Hydrazine Hydrate—used for manufacturing agricultural chemicals.
“The revenue target of Rs 5,000-crore is no big deal,” Managing Director PK Gera told BloombergQuint in an interview. “We have developed a technology in-house for making Hydrazine Hydrate and we will achieve a monopolistic position due to no competitor present in the domestic market.”
Gera also said 800-tonne plant set up in a joint venture with Nalco will be operational from July next year. “We can expect a revenue contribution of Rs 1,000 from this plant.” The company reported its March quarter results on Tuesday.
Key Highlights
(Year-On-Year)
- Revenue rose 18 percent to Rs 821 crore.
- Net profit declined 23 percent to Rs 170 crore.
- Ebitda fell 6 percent to Rs 274 crore.
- Margin stood at 33.4 percent against 41.2 percent.
Shares of the Vadodara-based Gujarat Alkalies dropped as much as 2.74 percent to Rs 544 apiece compared with a 0.37 percent fall in the Nifty Index.