Gujarat Alkalies and Chemicals Ltd. - 45th Annual General Meeting Held on 28th September, 2018, in Vadodara

AHMEDABAD, India, September 28, 2018 /PRNewswire/ --

Gujarat Alkalies and Chemicals Ltd. successfully conducted its 45th Annual General Meeting on 28th September, 2018. Dr. J N Singh, IAS, Chairman, GACL presided over the meeting. He read the Board's Report, the Standalone & Consolidated Audited Financial Statements for the Financial Year 2017-18 and provided clarification to the shareholders on issues that they raised during the meeting.

During the financial year of 2017-18, the Company has achieved the highest production of Caustic Soda Lye, Caustic Potash Lye, Aluminium Chloride and Chlorinated Paraffin Wax at its Vadodara Complex and of Aluminium Chloride, Poly Aluminium Chloride, Sodium Chlorate and Stable Bleaching Powder at its Dahej Complex. The Company could also successfully increase in sales realisation of Caustic Soda Group, Chloromethanes Group, Hydrogen Peroxide, Aluminium Chloride, Chloro Toluene Group and Stable Bleaching Powder.

The Company has once again surpassed the highest ever sales, achieving a turnover of Rs. 2,480 crore in the financial year 2017-18 as against Rs. 2,255 crore in the previous financial year. This could be achieved despite keen competition and adverse market conditions. The Company generated Gross Profit of Rs. 892 crore in the financial year 2017-18 as against Rs. 506 crore during the previous year.

He took pride in mentioning the Company's continued deliverance of superior performance in its first quarter of the financial year 2018-19. It achieved the highest ever quarterly sales turnover of Rs. 744 crore as against Rs. 594 crore in the same period of previous year. Likewise, it also achieved the highest ever quarterly Profit Before Tax of Rs. 259 crore from Rs. 128 crore and Profit After Tax of Rs. 183 crore as compared to Rs. 95 crore.

Shareholders approved dividend of Rs. 6.50 per Share (i.e. 65%) for the financial year ended on 31st March, 2018, as recommended by the Board.

As a part of its growth plan, the Company is on its way to execute various new projects to reach an annual turnover of Rs. 5000 crore by financial year 2020-21, from the current level of Rs. 2,500 crore. As a part of such projects, the company has successfully commissioned the expansion of Chloromethanes Plant, the 32,000 TPA Poly Aluminum Chloride Project at Vadodara, as well as 14,000 TPA Hydrogen Peroxide Project at Dahej. The Company's pilot project on converting waste liquid into a marketable product, Anhydrous Sodium Sulfate, has also become operational. The other projects, namely 1,05,000 TPA Chloromethanes Plant, 33,870 TPA Food Grade Phosphoric Acid Plant, 10,000 TPA Hydrazine Hydrate Plant, 15,000 TPA Stable Bleaching Powder (SBP) Plant, 16,500 TPA Anhydrous Aluminum Chloride (AAC) Plant and 39,600 TPA Chlorotoluenes Plant, all at Dahej, are at different stages of implementation.

Before closing the proceedings, he expressed his thanks to directors, shareholders and employees of the Company. He also thanked the central & state government, promoters, bankers, auditors, customers, agents, dealers, suppliers and other stakeholders who have continued to extend their precious support and co-operation to the Company at all times.

Shri. P.K. Gera, IAS, Managing Director replied various questions of shareholders and expressed vote of thanks.

About Gujarat Alkalies and Chemicals Ltd.:

Gujarat Alkalies and Chemicals Ltd. (GACL) was established in the year 1973 in Vadodara, Gujarat with a view to manufacture caustic soda and allied products. Today, by harping on cutting-edge technology, groundbreaking research and development, GACL has emerged as one of the largest manufacturers of caustic soda with about 14% share in the national market. For more information, please visit: http://www.gacl.com .

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