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Gujarat Alkalies And Chemicals Limited - Profit Before Tax Of GACL For The FY 2011-12 Gone Up By 76%.

Vadodara, May 25 -- The Board of Directors of GACL in their meeting held at Gandhinagar on 24th May, 2012 has approved the financial results for the fourth quarter and for the year ended on 31st March, 2012.

Shri M S Dagur, IAS, Managing Director of the Company stated that the Company has achieved Net Sales of Rs.422.12 crore for the quarter ended on 31st March, 2012 against Rs.400.72 crore in the corresponding quarter of the previous year. Net Sales for the year ended on 31st March, 2012 achieved at Rs.1,698.22 crore against Rs.1,423.17 crore in the previous year despite competitive market conditions.

The Profit Before Tax of fourth quarter is Rs.71.20 crore, which shows an increase of 9.49% as compared with Rs.65.03 crore in the similar period of the previous year, which is mainly due to improvement in price realizations for Caustic Soda Group, Caustic Potash Group, Phosphoric Acid, Sodium Cyanide, Ploy Aluminium Chloride Group, Chlorinated Parafin Wax, Benzyl Chloride and Benzyal Alcohol products. The Profit After Tax for the quarter achieved at Rs.44.21 crore as compared with Rs.55.99 crore in the similar period of the previous year.

The Profit Before Tax for the year ended on 31st March, 2012 has increased by 75.76% to Rs.223.42 crore as compared with Rs.127.12 crore of the previous year. Similarly, the Profit After Tax for the said period also increased by 34.38% to Rs.153.61 crore as compared with Rs.114.31 crore of the previous year.

He also added that the financial ratios improved at the end of the year on 31st March, 2012 as compared to the year ended on 31st March, 2011 :

i) Earning Per Share - Rs.20.92 from Rs.15.56

ii) Cash Earning per Share - Rs.49.35 from Rs.35.44

iii) Return on Equity - 9.63% from 6.11% ( Before Dividend)

iv) Debt Equity ratio - 0.20 : 1 times from 0.24 : 1 times

v) Book value per Share - Rs.217.32 from '197.55 ( Before Dividend)

vi) Interest Coverage Ratio - 19.44 times from 13.29 times

vii) Debt Service Coverage Ratio - 2.65 times from 1.24 times

He further said that the Company has already got three Projects registered with United Nations Framework Convention on Climate Change (UNFCCC) under Clean Development Mechanism (CDM) and has taken actions for few more projects including Wind Mill projects. It has got 1,66,000 CER's approved by UNFCCC and plans to monetise the same in due course of time.

The announced projects of the Company are progressing at various stages and some of these projects are under review and some of them are expected to go on stream by FY 2014-15.

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Publication:India PRwire
Date:May 25, 2012
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