Investor Presentation for Q4FY2026
GHCL · price
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GHCL reported Q4 FY26 revenue of Rs. 808 crore (flat YoY, +5% QoQ) with EBITDA of Rs. 194 crore (-21% YoY) and PAT of Rs. 120 crore (-21% YoY). EBITDA margins declined to 23.9% from 30.2% in Q4 FY25, a drop of 630 basis points, primarily due to global pricing pressures and import impacts. Management highlighted healthy domestic demand and improving realizations as tailwinds, offsetting global supply chain disruptions and geopolitical tensions. The company completed a Rs. 300 crore buyback and paid Rs. 115 crore in dividends (total Rs. 415 crore, 87% of PAT). Bromine and Vacuum Salt projects are on track for Q1 FY27 commissioning, while the greenfield soda ash project is progressing slower than expected. FY26 full-year revenue was Rs. 3,144 crore (-4% YoY) with PAT of Rs. 479 crore (-24% YoY).
Margin compression of 630 bps YoY is a concern, but strong shareholder returns (Rs. 415 crore payout) and a healthy net cash surplus of Rs. 1,058 crore provide support. The domestic-focused business model with improving realizations may offer some resilience against global headwinds.