Filing of transcript of investors conference held on May 5, 2026

GHCL Limited reported Q4 FY26 revenue of INR 808 crores (flat YoY) with full-year revenue of INR 3,144 crores. EBITDA for Q4 stood at INR 194 crores (23.9% margin) and full-year EBITDA at INR 769 crores (24.4% margin). PAT for the full year was INR 479 crores with 15.2% net margin. The company generated INR 603 crores in cash profit, repaid INR 35 crores in borrowings, and ended FY26 with a net cash surplus of INR 1,058 crores. The soda ash industry continues to face pricing headwinds due to global oversupply, but management sees early signs of stabilization with domestic demand growing (led by solar glass) and import flow moderating due to elevated freight costs. Volume grew approximately 11% while pricing declined 10%. New bromine and vacuum salt projects are on track for Q1 FY27 commissioning, expected to contribute INR 120 crores revenue in FY27 at 40-45% EBITDA margins. Management rewarded shareholders with INR 415 crores (87% of PAT) through dividends and buyback.