VADODARA, India, Sept. 29, 2022 /PRNewswire/ — Gujarat Alkalies and Chemicals Ltd. efficiently performed its 49th Annual General Meeting on 29th September 2022 via a video convention facility/OAVM. Shri J. P. Gupta, IAS, Director of the Company presided over the assembly. Shri Swaroop P. IAS, Managing Director of the Company offered clarification to the shareholders on questions that had been raised in the course of the assembly.
Sharing in regards to the working effectivity, the Chairman of the assembly, Shri J. P. Gupta, IAS, added that in the course of the Financial Year 2021-22, the Company has achieved capability utilization of greater than 100% in among the merchandise viz. Caustic Soda Lye, Chloromethanes, Caustic Potash Flakes, Hydrogen Peroxide, Phosphoric Acid, Aluminium Chloride and Sodium Chlorate Granules. Upgrading and adapting to eco-pleasant and inexperienced applied sciences has been a significant contributor to 100% capability utilization.
Talking about monetary efficiency, The Chairman said that, in the course of the Financial Year 2021-22 GACL achieved an External Sales Turnover of ₹3,683 Crores, Profit Before Tax of ₹829 Crores and Profit After Tax of ₹562 Crores. The Earning Per Share was ₹76.53 for the yr as towards ₹22.72 per share within the earlier yr. The Book worth of shares elevated to ₹624 per share as of 31st March 2022 as towards ₹557 per share on the finish of the earlier yr, registering a progress of ₹67 per share. During the First Quarter of the present Financial Year, GACL achieved an External Sales Turnover of ₹1,107 Crores, Profit Before Tax of ₹336 Crores and Profit After Tax of ₹222 Crores. He additional knowledgeable that the Board of Directors of the Company had really useful a Dividend of ₹10.00 per share (i. e. 100%) on Equity Shares for the Financial Year ended 31st March 2022.
Talking in regards to the new initiatives, he said that 1,05,000 Tons Per Year Chloromethanes plant, put up at plot D-II/9 at Dahej, has been efficiently commissioned. The Caustic Soda Expansion Project on the present advanced at Dahej can also be commissioned. The new plant could have a capability of 525 Metric Tons Per Day. The Hydrazine Hydrate Plant, with a capability to provide 10,000 Tons Per Year on the present advanced at Dahej has additionally been began by feeding the uncooked supplies to the method tools on 26th September, 2022. The completed product is anticipated in the end of time as the method proceeds. The expertise for manufacturing this product has been developed by the Company in collaboration with CSIR-IICT, Hyderabad. Joint patents have been granted for this course of by Indian and US patent authorities. At current Hydrazine Hydrate is 100% imported product in India and there was a necessity for import substitution of this excessive worth tremendous speciality chemical product. GACL Hydrazine Hydrate as an import substitute product with world-class high quality will assist in decreasing nation’s dependency on imports, thereby saving of precious international alternate. It will even strengthen India’s quest to grow to be ‘Atmanirbhar Bharat’- a imaginative and prescient of Hon’ble Prime Minister of India for making India a self-reliant nation. We are additionally placing up a 33,870 TPA Food Grade Phosphoric Acid plant. The development of this plant goes on in full swing. To improve our in-home chlorine consumption, now we have deliberate to place up a 30,000 TPA Chlorotoluene Project at Dahej to provide benzyl chloride, benzaldehyde and benzyl alcohol. It is deliberate to be made operational in the course of the Financial Year 2024-25.
Sharing additional in regards to the Company’s efforts in direction of selling inexperienced expertise, he knowledgeable that, “GACL has installed 35 MW Solar Power Plant and 171.45 MW of Wind Power Plant. The Company has also installed a floating solar installation having a capacity of 732 KW at Dahej Complex, 630 KW roof-top solar power capacity at its Vadodara Complex and 260 KW roof-top solar power capacity at its Dahej Complex for captive consumption. The captive use of the power from these installations has been providing benefits in terms of incurring lower power costs to the Company for its power-intensive operations. As our commitment to promoting green technologies, the company is jointly working with NTPC Renewable Energy Limited (NTPC REL) for synthesizing Green Methanol and Green Ammonia, in addition to sourcing up to 100 MW of Renewable Energy on a round-the-clock basis from NTPC REL. We are also putting up a 500 KLD bio-ethanol plant jointly with GAIL India Limited, as our contribution to the Hon’ble Prime Minister’s drive towards cleaner energy and ‘Atmanirbhar Bharat’.”
Giving insights into GNAL, the JV with NALCO, he additional shared that, “The Company has put-up 800 Tons Per Day Caustic Soda Plant integrated with a 130 MW Coal based power plant at a new complex in Dahej.”
GACL has all the time been a Socially Responsible Corporate dedicated to combine social and environmental issues into its business actions. GACL is dedicated in direction of creating worth for their stakeholders and consider that via varied CSR initiatives the worth is mirrored of their high quality of life. Their initiatives are primarily categorized into Promotion of Education, Care for Special Children, Healthcare, Sanitation and Hygiene, Livelihood Generation and Skill Development Activities, Art, Culture and Heritage, Water Conservation and Environmental actions.
Before closing the proceedings, Shri J. P. Gupta, IAS expressed his gratitude to the Directors, Shareholders and Employees of the Company. He additionally thanked the Central & State governments, Promoters, Bankers, Auditors, Customers, Agents, Dealers, Suppliers and different stakeholders for his or her continued assist and cooperation with the Company always.
About GACL:
Gujarat Alkalies and Chemicals Limited (GACL) was established within the yr 1973 in Vadodara, Gujarat to fabricate Caustic Soda and allied merchandise. Promoted by the Government of Gujarat, by harping on innovative expertise, groundbreaking analysis and growth and thru strategic diversification, GACL has emerged as one of many largest producers of caustic soda with round 12% share in home caustic soda market. From an preliminary capability of 37,425 TPA caustic soda, the group has enhanced its present capability to 4,30,000 TPA, Which is additional growing to six,03,000 TPA and manufacturing services are unfold over 2 complexes at Vadodara and Dahej. From its two services, GACL now provides 36 merchandise.
