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GHCL Ltd (GHCL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500171 NSE: GHCL Chemicals | Small Cap | GHCL Share Price

₹441.10 -1.60 (-0.36%)

As on 05-Jun'26 16:59

GHCL Ltd (GHCL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500171 NSE: GHCL Chemicals | Small Cap | GHCL Share Price

₹441.10 -1.60 (-0.36%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹4,064 Cr.
Current Price
₹441.1
52-Week Low / High
₹419 / 668
TTM EPS
₹51.3
TTM Sales
₹3,064 Cr.
Book Value per Share
₹384.9
P/E Ratio
8.60
In line with its 5-year historical median
Industry PE
50.2
Price to Book (P/B)
1.15
Lower than its 5-year historical median
Price to Sales (P/S)
1.33
Lower than its 5-year historical median
EV/EBITDA
5.29
In line with its 5-year historical median
Dividend Yield
2.84%
Profitability Efficiency
Return on Equity (ROE)
13.46%
Outperforms industry median
Return on Capital Employed (ROCE)
18.12%
Outperforms industry median
Return on Assets (ROA)
11.14%
Operating Profit Margin
22.5%
Net Profit Margin
15.42%
Gross Profit Margin
21.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-3.75%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-21.41%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-24.3%
Asset Quality
Promoter Holding
19.87%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,454 Cr.
Equity
₹92.1 Cr.
Face Value
₹10
All Time Low / High
₹6.65 / 779.30

GHCL stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Weak
Q.1 Is GHCL Ltd a good quality company?
GHCL Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does GHCL Ltd performance compare with that of its Peers?
Q.1 Revenue growth of GHCL Ltd vs industry peers?
GHCL Ltd revenue CAGR is -0.75%, compared to the industry median CAGR of 7.53%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of GHCL Ltd?
Promoters hold 19.87% of the GHCL Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of GHCL Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GHCL Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 24.3%18.6%21.4%18.6%14.8%24.6%36.8%27.2%25.3%18.1%-
Value Creation
Index
0.70.30.50.30.10.81.61.00.90.3-

Growth Parameters

Sales 2,7842,9193,3413,3052,4913,7784,5513,4473,1833,0643,064
Sales YoY Gr.-4.9%14.5%-1.1%-24.6%51.7%20.5%-24.3%-7.6%-3.8%-
Adj EPS 36.534.736.141.632.762.9110.664.962.349.551.3
YoY Gr.--4.9%4%15.2%-21.3%92%76%-41.3%-4%-20.6%-
BVPS (₹) 135.4165.4194.4225.1260.3323412.3309.8363.1385.7384.9
Adj Net
Profit
3633383543953115991,058622597455472
Cash Flow from Ops. 458590530624621643856797638687-
Debt/CF from Ops. 3.22.22.521.21.20.40.30.20.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 1.1%4.2%-12.4%-3.8%
Adj EPS 3.5%8.6%-23.5%-20.6%
BVPS12.3%8.2%-2.2%6.2%
Share Price 10% 9.5% -3.5% -29.8%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
30.522.92019.413.421.53017.918.512.913.3
Op. Profit
Mgn %
24.520.822.922.124.3263324.727.622.522.5
Net Profit
Mgn %
1311.610.61212.515.923.21818.814.915.4
Debt to
Equity
1.10.80.70.60.30.30.10.1000
Working Cap
Days
125139127142181136110104101100114
Cash Conv.
Cycle
4047495866545060575092

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2,7842,9193,3413,3052,4913,7784,5513,4473,1833,064
Operating Expenses + 2,1032,3132,5822,5771,8952,7993,0642,5982,3062,375
Manufacturing Costs529585692671477757961824737753
Material Costs1,1391,2741,4131,4551,1361,6871,5931,2861,0541,094
Employee Cost 158177201190129153134112114119
Other Costs 277278276261154202377376400409
Operating Profit 6816067597285969791,487849877689
Operating Profit Margin (%) 24.5%20.8%22.7%22.0%23.9%25.9%32.7%24.6%27.6%22.5%
Other Income + 4038161871234528873
Exceptional Items -3000007621900
Interest 137127127120746439271710
Depreciation 8611011713111111794102112111
Profit Before Tax 4954075314954188111,463991836642
Tax 1155118098111213347198212170
Profit After Tax 3803563513973075981,116794624472
PAT Margin (%) 13.7%12.2%10.5%12.0%12.3%15.8%24.5%23.0%19.6%15.4%
Adjusted EPS (₹)38.236.635.841.834.367.8119.482.965.251.4
Dividend Payout Ratio (%)13.10%13.70%14%7.20%16%22.10%14.70%14.50%18.40%23.40%

Valuation of GHCL - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,3471,6111,9052,1392,4733,0803,9412,9663,4763,546
Share Capital 99979895959596969692
Reserves 1,2471,5131,8072,0442,3782,9853,8462,8703,3813,454
Debt +1,2451,1531,1111,0776056332431156234
Long Term Debt6987447028085644252431156234
Short Term Debt547408409269412080000
Minority Interest0000000000
Trade Payables334382409408377343230194165280
Others Liabilities 6925895696896301,166720495482439
Total Liabilities 3,6173,7353,9954,3134,0855,2215,1333,7704,1854,300

Fixed Assets

Net Fixed Assets +2,4012,4932,5832,6642,6752,4741,7311,8421,8441,821
Gross Block2,5392,7252,9093,0943,2353,0422,2962,5022,6012,683
Accumulated Depreciation138231327430560568565661757863
CWIP 26741171228121310955256450
Investments 91012915173804206511,042
Inventories584637769791764944772651626597
Trade Receivables276229291274228229218180210173
Cash Equivalents 3627361074925514049244690
Others Assets 2852661893462731,0891,783130153128
Total Assets 3,6173,7353,9954,3134,0855,2215,1333,7704,1854,300

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 458590530624621643856797638687
PBT 4954075314954398811,496992836642
Adjustment 208246248264230208114-1664552
Changes in Working Capital -1368-156-1860-241-311163-18162
Tax Paid -108-72-93-116-107-205-443-192-225-169
Cash Flow From Investing Activity + -375-279-271-206-109-337-409-534-358-291
Capex -376-282-273-206-111-337-350-106-302-264
Net Investments 001-010-61-438-88-51
Others 1211102113224
Cash Flow From Financing Activity + -113-308-258-339-569-98-530-338-230-451
Net Proceeds from Shares 06630545112
Net Proceeds from Borrowing 2346-6478-244-149-136-151-99-35
Interest Paid -137-127-134-122-91-65-45-24-16-9
Dividend Paid -50-34-49-760-52-143-166-114-115
Others 51-199-18-222-234164-210-2-2-304
Net Cash Flow -302180-57209-83-7550-55

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)31.924.119.9419.6113.3121.5531.7822.9919.3813.46
ROCE (%)24.2618.621.3618.5714.8324.6136.8327.2425.2518.12
Asset Turnover Ratio0.890.810.860.80.630.850.910.840.890.81
PAT to CFO Conversion(x)1.211.661.511.572.021.080.7711.021.46
Working Capital Days
Receivable Days28.203128.4031.2034.5021.2017.4019.5020.1020.30
Inventory Days66.807576.8086.10106.7079.2066.8069.8065.8064.80
Payable Days99.20102.60102.30102.5012677.8065.6060.1062.1074.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *1.101.101.101.101.101.101.100.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

GHCL Ltd FAQs

The current trading price of GHCL on 05-Jun-2026 16:59 is ₹441.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of GHCL stood at ₹4,063.9 Cr

The latest P/E ratio of GHCL as of 04-Jun-2026 is 8.49.

The latest P/B ratio of GHCL as of 04-Jun-2026 is 1.15.

The 52-week high of GHCL is ₹668.0 and the 52-week low is ₹419.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GHCL is ₹3,064 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that GHCL Ltd is a good quality company.

The key valuation ratios of GHCL Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GHCL Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About GHCL Ltd

GHCL Limited was incorporated on October 14, 1983 and since then, it has established itself as a well-diversified group. It has ascertained its footprints in Chemicals, Textiles and Consumer Products segments.

The company has state-of-the-art home textile facilities at Vapi. This facility houses the best equipment sourced from Germany and Japan namely, Benninger, Kuster and Monforts. It has the flexibility to process both cotton and blended fabrics. A perennial innovator in bed linen category, some of the recent innovations in the category of ‘sheets’ include the PERFECT FIT, EASYSHEET, microTWILL, EXL Wrinkle Free Sheets, Versatile Reversible Sheets, Soft Wash Percale and Sustainable Fibre dyed sheets. GHCL has also launched a sustainable, traceable bedding line under the brand name “REKOOP” which has been made using recycled PET fibre, with molecular tagging for complete traceability.

The company’s Home Textiles products are predominantly exported worldwide to countries like United Kingdom, United States of America, Australia, Canada, Germany and other European Union countries as well.

The Consumer Products division manufactures and sells Edible salt and Industrial grade salt. It also markets spices, blended spices, and honey in the country under the brand name of i-FLO. GHCL has its salt manufacturing facility at Vedaranyam in Nagapattinam district of Tamil Nadu and a refinery at Chennai for edible salt manufacturing.

Business area of the company

The Company is engaged in primarily two segments consisting of Inorganic Chemicals (mainly manufacture and sale of Soda Ash) and Home Textile division (comprising of yarn manufacturing, weaving, processing and cutting and sewing of home textiles products).

Business division

  • Chemicals
  • Textiles
  • Consumer Products
  • Trading Division

Awards and recognitions

2017-18

  • Special Commendation for Golden Peacock Award for Excellence in Corporate Governance for the year 2017.
  • Golden Peacock Award for Corporate Social Responsibility - 2017 for the year 2017.
  • GHCL Limited has been declared as the Winner of ‘Golden Peacock National Quality Award’ for the year 2018.
  • GHCL Limited achieved 16th rank in Great Place to Work survey among India’s Great Place to Work manufacturing sector.
  • The President of Association Other ways Management & Consultancy France, certify that GHCL Limited has been selected to receive the Green Era Award for Sustainability.

2018-19

  • Dun & Bradstreet Corporate Awards for the year 2018.
  • GHCL Limited achieved 25th rank in Great Place to Work survey among India’s Great Place to Work in manufacturing sector for the year 2018.
  • Gold Award for quality control awarded by International Convention on Quality Concept Circle (ICQCC), Singapore.
  • India Manufacturing Excellence (IME) Awards 2018 awarded by Frost & Sullivan.

2019-20

  • Mine Award - GHCL Limestones Mines received Mine award under A2 category at 26th Mines Environment and Mineral Conservation week.
  • Par Excellence Award - GHCL won ‘Par Excellence Award’ at the 6th National Conclave on 5S, Ankleshwar Chapter, Quality Circle Form of India (QCFI)
  • Saurashtra Eminence Award 2019 - GHCL Foundation Trust received ‘Saurashtra Eminence Award - 2019’ for the great work done towards ‘Rural Development and CSR’ from Divya Bhaskar Group.
  • Jury Special Social Awareness Award - The Federation of Indian Mineral Industries (FIMI) awarded GHCL for innovation in the field of water management and soil fertility in and around the villages of the mining areas. The ‘Jury Special Social Awareness Award’ was presented to the Bhimdeval Limestone Mines, GHCL at the Excellence, Sustainability, Health, Safety and Social Awareness Awards FY 2018-19
  • Excellence in E-procurement - GHCL received award for ‘Excellence in E-procurement’ at procurement Tech Summit for FY 2019.

Milestones

1988 - 2000

  • Commenced Soda Ash Production with 4.2 Lakh MTPA which was further increased to 5.25 Lakh MTPA
  • Commenced Edible Salt Production and launched ‘Sapan’ salt

2001 - 2008

  • Soda Ash capacity increased to 8.5 Lakh MTPA
  • Entered Spinning business with 65 K spindles subsequently increased to 140 K
  • Commissioned Home Textile plant with 36 mn meters processing capacity and 96 airjet looms
  • Commissioned Refined Sodium Bicarbonate plant

2009 - 2015

  • Spindles capacity increased to 175 K, Installed 3320 rotors in spinning
  • Launch of ‘i-FLO’ salt and ‘i-Flo Honey’
  • Home Textiles Air jet looms capacity increased to 162

2016 - 2018

  • Soda Ash production capacity increased to 9.75 Lacs MTPA
  • Doubled Sodium bicarbonate capacity to 60 K MTPA
  • Added TFOs for value added yarn and Air jet spinning
  • Home textiles, processing capacity increased to 45 Mn meters with total 190 Air jet weaving looms

2019 - 2020

  • Soda Ash production capacity to be increased to 11 Lacs MTPA tons / year by FY2019
  • GHCL will be the single largest manufacturer of soda ash in India at a single location
  • Increase Soda Ash production by another 1.25 Lacs MT by Mar’20
  • Envisaged Rs. 150 crore capital allocation for Volume growth and modernization in spinning
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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