Feb 8: Gujarat Alkalies & Chemicals Ltd ((BSE:530001, NSE: GUJALKALI) has regained after hitting a recent low of 707 on excellent Q3 FY18 results and proposed expansion plans. The scrip is trading 1% up at Rs 730 on Thursday morning trade at BSE.
The company reported a net profit of Rs 112.21 cr showing an annualized growth of 137.13% while earnings per share has risen to 57 while PE ratio has climbed to 13.08 and return on equity to 11.29.
The Board of Directors had approved the setting up of 39600 MTPA Chlorotoluenes Plant at Dahej Complex at an estimated cost of Rs 120 cr. The project when implemented would contribute to the annual sales revenue by approximately Rs 300 cr.
Financial parameters looks good with return on equity of 9.15%, return on assets of 8.98%, net profit margin of 14.84% and mixed trend in liquidity, cash flow ratios.
Further the company has reported progress in the 15 MW solar power plant and Chloromethane upgradation and debottlenecking projects which are expected to be commissioned this year. The approved hydrazine hydrate, new hydrogen peroxide, new phosphoric acid and new chloromethane projects are progressing satisfactorily and expected to be completed by the envisaged schedule in the next financial years.