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GHCL

GHCL NSE
₹407.30 +4.30 (+1.07%)
P/E
8.11
View as Markdown
MCP
Close 4 Nov 2026 ₹407.30 −203.70 −33.3% 1Y
Start ₹611.00

Key Fundamentals

MicrocapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
17.40%
Debt to Equity
0.02
EPS (TTM)
₹50.22
Book Value
₹386.13
Market Cap
—
P/E (TTM)
8.11
P/B
1.05
ROE
13.00%
Dividend Yield
2.98%
EBITDA
₹762 Cr
52W High
₹643.45
52W Low
₹370.85
Day Range
₹399.00 – ₹410.05
Volume
1,51,361

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

62 Good

Data confidence 100/100

Category scores

Quality
82
Strong
Returns, margins, earnings quality 22% weight
Valuation
85
Strong
Cheap vs sector & own history 24% weight
Growth
20
Poor
Sales & profit trajectory 9% weight
Financial Health
77
Strong
Solvency, leverage, coverage 9% weight
Momentum
21
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.99 times its book value
  • Company has been maintaining a healthy dividend payout of 18.7%

Weaknesses

2
  • The company has delivered a poor sales growth of 4.23% over past five years.
  • Promoter holding is low: 19.8%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBearish342
Moving AveragesNeutral505

Key readings

RSI (14)
56.79
Neutral
MACD (12,26,9)
−3.48
Bullish
SMA (50)
410.54
Bearish
SMA (200)
453.79
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
10Y+1.93%
5Y+4.23%
3Y−12.35%
1Y−3.74%

Net profit

Net profit growth by window
10Y+6.23%
5Y+7.68%
3Y−25.51%
1Y−24.36%

Operating cash flow

Operating cash flow growth by window
10Y+3.04%
5Y+2.04%
3Y−7.07%
1Y+7.68%

Operating margin· change in pp

Operating margin growth by window
10Y−2.33 pp
5Y−1.77 pp
3Y−10.51 pp
1Y−5.03 pp

Trailing twelve months: The last four quarters end with the latest fiscal year, which the 1Y column covers.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹2,784 Cr
Mar 2018₹2,919 Cr
Mar 2019₹3,341 Cr
Mar 2020₹3,305 Cr
Mar 2021₹2,491 Cr
Mar 2022₹3,052 Cr
Mar 2023₹4,551 Cr
Mar 2024₹3,447 Cr
Mar 2025₹3,183 Cr
Mar 2026₹3,064 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹380 Cr
Mar 2018₹356 Cr
Mar 2019₹351 Cr
Mar 2020₹397 Cr
Mar 2021₹326 Cr
Mar 2022₹650 Cr
Mar 2023₹1,142 Cr
Mar 2024₹794 Cr
Mar 2025₹624 Cr
Mar 2026₹472 Cr

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk medium

GHCL Ltd trades at a PE of 8.6x and 1.14x book value with a market cap of Rs 4,080 crore, reflecting a nearly debt-free balance sheet but declining profitability with TTM profit down 24% and sales down 4%. The stock has corrected 26% over the past year amid weakening operating performance despite historically strong return ratios.

Bull Case 6
  • Company is almost debt-free, having significantly reduced leverage, which lowers financial risk and interest burden
  • Valuation appears undemanding at PE of 8.6x, well below broader market multiples for chemical sector peers
  • Healthy dividend yield of 2.73% with a consistent payout ratio of 18.7%, providing income support during stock weakness
  • 5-year ROE average of 21% and 10-year ROE of 21% demonstrate historically strong capital efficiency and earning power
  • 5-year compounded profit growth of 7% and 10-year profit CAGR of 6% show long-term earnings have grown despite recent weakness
  • 10-year stock CAGR of 7% indicates the business has created shareholder value over longer time horizons despite recent correction
Bear Case 8
  • TTM compounded profit declined 24% year-over-year, signalling significant near-term earnings deterioration
  • 3-year compounded profit CAGR of -25% indicates a sustained multi-year earnings decline, not just a one-off
  • Sales have contracted with TTM revenue down 4% and 3-year sales CAGR of -12%, reflecting structural demand or pricing headwinds
  • ROE has deteriorated from 21% (5-year average) to just 13% in the last year, a sharp drop in capital efficiency
  • Promoter holding is low at 19.8%, which raises governance concerns and limits promoter alignment with minority shareholders
  • Poor 5-year sales growth of only 4.23% indicates limited top-line expansion capability in the soda ash business
  • Stock has declined 26% over the past year and 7% CAGR decline over 3 years, reflecting persistent negative market sentiment
  • 1-year stock decline of 26% far exceeds broader market returns, suggesting company-specific challenges beyond sector weakness

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

96d ago

TL;DR: Limited recent news flow for GHCL with only a routine earnings call announcement. No identifiable headwinds or positive catalysts in the current news cycle. Investors should watch the August 3 Q1FY27 results for clarity on the company's chemical segment performance and forward guidance.

Neutral 1
  • Q1FY27 earnings call scheduled Jul 26

    GHCL scheduled a conference call on August 3, 2026 at 3:00 PM IST to discuss Q1FY27 results with MD R S Jalan and CFO Raman Chopra.

Quarterly Results

₹ Cr

Results for the period ended Jun 2026 were due by 14 Aug 2026 and are not in this table yet.

GHCL quarterly results, ₹ crore
Particulars Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,119
1,019
805
797
823
830
793
779
781
796
721
757
791
Expenses
771
719
592
648
639
614
582
549
563
599
564
598
615
Operating Profit
349
299
213
150
184
217
211
230
218
197
157
159
176
OPM %
31%
29%
26%
19%
22%
26%
27%
30%
28%
25%
22%
21%
22%
Other Income
−3
230
11
15.58
17
18
17
29
23
27
17
16
14
Interest
10
8
7
6
5
4
4
4
4
2
2
3
2
Depreciation
27
24
26
26
26
27
28
28
28
27
28
29
27
PBT
309
497
191
133
170
203
196
227
209
195
145
143
160
Tax %
27%
14%
25%
25%
26%
26%
21%
26%
28%
26%
26%
26%
28%
Net Profit
227
426
143
100
125
151
155
168
150
144
107
106
116
EPS (₹)
23.7
44.6
14.94
10.43
13.04
15.73
16.17
17.59
15.69
15
11.11
11.53
12.58

Profit & Loss

₹ Cr
GHCL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,356
2,531
2,784
2,919
3,341
3,305
2,491
3,052
4,551
3,447
3,183
3,064
Expenses
1,828
1,901
2,103
2,313
2,582
2,576
1,886
2,322
3,048
2,596
2,306
2,375
Operating Profit
528
629
681
607
759
729
605
730
1,503
851
877
690
OPM %
22%
25%
24%
21%
23%
22%
24%
24%
33%
25%
28%
22%
Other Income
−15
−3
37
38
16
16
18
211
119
270
88
73
Interest
171
165
137
127
127
120
74
51
39
27
16.12
9.01
Depreciation
85
82
86
110
117
131
111
87
94
102
112
111
PBT
257
380
495
407
531
495
437
802
1,489
991
836
642
Tax %
29%
32%
23%
13%
34%
20%
25%
19%
23%
20%
25%
26%
Net Profit
182
258
380
356
351
397
326
650
1,142
794
624
472
EPS (₹)
18.19
25.78
38.04
36.59
35.77
41.75
34.33
68.14
119
82.94
65.18
51.39
Div. Payout %
12%
0%
13%
14%
14%
7%
16%
22%
15%
14%
18%
23%

Balance Sheet

₹ Cr
GHCL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
100
100
99
97
98
95
95
95
96
96
96
92
Reserves
670
936
1,247
1,513
1,827
2,054
2,389
2,852
3,860
2,883
3,393
3,460
Borrowings
1,324
1,365
1,463
1,322
1,302
1,254
782
788
361
210
119
83
Other Liabilities
758
548
694
695
767
766
712
1,261
816
581
578
665
Total Liabilities
2,851
2,949
3,504
3,628
3,995
4,169
3,978
4,995
5,133
3,770
4,185
4,300
Fixed Assets
1,934
2,049
2,410
2,502
2,591
2,664
2,675
2,474
1,731
1,842
1,844
1,821
CWIP
7
37
26
74
117
122
81
213
109
55
256
450
Investments
2
15
9
10
12
9
15
17
380
420
651
1,042
Other Assets
909
848
1,059
1,043
1,275
1,375
1,207
2,292
2,914
1,453
1,435
987
Total Assets
2,851
2,949
3,504
3,628
3,995
4,169
3,978
4,995
5,133
3,770
4,185
4,300

Cash Flow

₹ Cr
GHCL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
416
509
458
590
530
624
621
643
856
797
638
687
Investing
−127
−249
−375
−279
−271
−206
−109
−337
−409
−534
−358
−291
Financing
−296
−252
−113
−308
−258
−339
−569
−98
−530
−338
−230
−451
Net Cash Flow
−8
8
−30
2
1
80
−57
209
−83
−75
50
−55
Free Cash Flow
284
258
82
308
257
418
510
306
506
691
336
424
CFO/OP
91
96
83
109
82
101
120
116
86
116
98
124

Ratios

GHCL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
38
26
36
29
32
30
33
27
18
19
24
21
Inventory Days
193
194
187
182
199
198
245
294
177
185
217
199
Days Payable
155
110
107
109
106
102
121
107
53
55
57
94
Cash Conversion Cycle
76
110
117
101
125
126
158
214
142
149
183
126
Working Capital Days
−39
−48
−30
−12
10
26
61
87
50
50
58
43
ROCE %
22%
25%
24%
19%
21%
19%
15%
19%
36%
21%
24%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view GHCL insights

66 extracted metrics across FY02–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 27.55%
  • FIIs 21.99%
  • Promoters 19.83%
  • Others 19.12%
  • DIIs 11.52%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about GHCL

What does GHCL Ltd do?
Established 1983, GHCL Limited is engaged in the business of manufacturing and trading of Inorganic Chemicals (Soda Ash).
Where is GHCL Ltd (GHCL) listed?
GHCL Ltd trades as GHCL on the NSE and under code 500171 on the BSE.
Which sector does GHCL Ltd belong to?
GHCL Ltd is classified under the Chemicals sector, in the Commodity Chemicals industry.
What is the PE ratio of GHCL Ltd?
GHCL Ltd trades at a PE ratio of 8.11 as of 4 Nov 2026, on earnings per share of ₹50.22, against a book value of ₹386.13 per share.
What is the 52-week high and low of GHCL Ltd?
Over the last 52 weeks GHCL Ltd has traded between ₹370.85 and ₹643.45 as of 4 Nov 2026.
Does GHCL Ltd pay dividends?
GHCL Ltd has a dividend yield of 2.98%.
What is the Return on Equity (ROE) of GHCL Ltd?
GHCL Ltd reported a return on equity of 13.00%. Its debt-to-equity ratio is 0.02.

Company Information

Established 1983, GHCL Limited is engaged in the business of manufacturing and trading of Inorganic Chemicals (Soda Ash).

Website ghclindia.com
CEO Mr. Ravi Shanker Jalan B.Com., F.C.A.
Employees 1,016
Listed 31 Jul 2003
Face Value ₹10

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