Goyal Salt Ltd - Stock Valuation and Financial Performance

Goyal Salt was originally incorporated as ‘Goyal Salt Private Limited’ at Jaipur as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 26, 2010, issued by the RoC, Rajasthan. Subsequently, the company was converted into a public limited company under the Companies Act, 2013, pursuant to the approval accorded by its Shareholders at their extra-ordinary general meeting held on April 29, 2023. Consequently, the name of the company was changed to ‘Goyal Salt Limited’ and a fresh certificate of incorporation consequent upon conversion from a private limited company to a public limited company was issued to the company by the RoC, Jaipur on May 18, 2023.

The company is primarily engaged in the business of refining of raw salts procured from sub soil brine in the state of Rajasthan for useable as industrial salts and edible salts. The company refines and supplies pure, refined and quality range of triple refined free flow iodized salt, industrial salt, double fortified salt and triple refined half dry salt. Its refining process does not involve any adulteration from chemical and harmful substances. It has well equipped refinery at Nawa City, adjacent to famous Sambhar Lake. Its refinery complex area is situated in Nawa and have dedicated space for the refining of salts, storage of raw salts procured from sub soil brine and packaging of refined salts. It has a team of well qualified and dedicated technical man power for quality control, production, efficiency, maintenance, research and maintenance, finance and accounting. 

The raw material required to process refined salt is raw salt itself. The company sources its raw material mainly from the open market purchases which is around 75% of the total requirement of raw salt required by it for all its products which are Refined Free Flow Iodized Salt, Refined Free Flow Industrial Salt, Double Fortified Salt and Refined Half Dry Salt. The Company also produces/supplies industrial salt. Industrial salt are in high demand due to the diversity of applications in the soap and detergent industries, textile and dyeing industries to industries producing glass, polyester, plastics, rubber and leather and as well as in the chemical industry. Salt assists in cleaning gas and oil wells and is an essential component in the manufacture of paper, tires, brass, bleach and case-hardened steel.

Business area of the company 

The company is engaged in the business of refining of raw salts procured from lake brine and sub soil brine in the state of Rajasthan for useable as industrial salts and edible salts. The company refines and supplies pure, refined and quality range of triple refined free flow iodized salt, industrial salt, double fortified salt and triple refined half dry salt.

Products of the company 

• Refined free flow iodized salt 
• Refined free flow industrial salt
• Double fortified salt 
• Refined half dry salt

Awards, accreditations or recognition

• 2011: The Company became the member of the Rajasthan Refined Salt Association in 2011. 

History and milestones 

• 2010: Incorporated under the Companies Act, 1956 (No. 1 of 1956) as a private limited company.
• 2011: Started the Commercial Production and installed 300 ton per day capacity plant.
• 2015: Installed 700 ton per day capacity plant to enhance the production capacity and use some parts of the previous plant of 2011 for this plant.
• 2016: The Company received subsidy from Tata Salt in 2016 in the form of supply of store parts for producing Double Fortified Salt and use some parts
• from the previous plant of 2011 and start the new product namely ‘Double Fortified salt’.
• 2020: The remaining parts of the plant installed in 2011 situated at Khasra No 546 Mohanpura by Pass road Nawa was automatically destroyed.
• 2023: The Company was converted to public company.