Ghcl Limited · NSE:GHCL
Ghcl — Q2 FY27 Earnings Presentation
26 slides from Ghcl's earnings presentation, Nov 1, 2026
Slide 1: Exchange covering letter: Investors' Presentation Q2FY27 Business Update
October 31, 2026 का तक – शु ल प , ष ठ व म स वत २०८३ National Stock Exchange of India BSE Limited Limited Corporate Relationship Department, “Exchange Plaza” 1st Floor, New Trading Ring, Rotunda Building, P.J. Bandra – Kurla Complex, Towers, Bandra (E), Mumbai – 400 051 Dalal Street, Fort, Mumbai – 4
Slide 2: GHCL Limited Q2 & H1 FY27 Investor Presentation
GHCL LIMITED Q2 & H1 FY27 Investor Presentation October 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by GHCL Limited (the “Company” or “GHCL”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secur
Slide 4: Table of Contents
Table of Contents 1 Performance Overview 2 Industry Overview 3 Company Overview 3
Slide 5: Leading the way: Integrated, Efficient & Growing
Leading the way: Integrated, Efficient & Growing India projected to be one of the fastest Domestic Soda Ash demand to growing major economies in the world; remain healthy in medium to GDP forecast of 6%+ in the next few years long term Sector-leading Best-in-class operational manufacturing excellenc
Slide 6: Performance Overview
Performance Overview 5
Slide 7: Insights from the management
Insights from the management “During the second quarter of FY27, the global soda ash industry continued to face pricing pressure, with realisations remaining soft amid ongoing global oversupply, a trend likely to persist over the next few quarters. While global oversupply and steady import pressure
Slide 8: Performance highlights – Q2 & H1 FY27
Performance highlights – Q2 & H1 FY27 Revenue EBITDA PAT* Cash Profit* Q2 FY27 821 202 127 156 Y-o-Y % Change 11% 16% 19% 16% Q-o-Q 3% -13% -16% -12% % Change H1 FY27 1,619 435 278 334 Y-o-Y 4% 9% 10% 9% % Change (Rs. In Crore) *after adjusting the exceptional gain of 40cr, net of taxes, in Q1FY27 a
Slide 9: Key performance trends
Key performance trends Quarterly Performance Trends 29.1% 23.7% 22.7% 23.9% 24.7% 739 773 808 798 821 175 175 194 233 202 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue EBITDA EBITDA margin (Rs. In Crore) Performance trends: ⚫ Realisations improved marginally YoY, supported by partial pass-through
Slide 10: Profit & loss statement
Profit & loss statement (Rs. In Crore) Q2 FY27 Q2 FY26 Y-o-Y Q1FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue 821 739 11% 798 3% 1,619 1,562 4% Operating Expenses 619 564 10% 565 9% 1,184 1,163 2% EBITDA 202 175 16% 233 -13% 435 399 9% EBITDA Margins 24.7% 23.7% 100bps 29.1% -450bps 26.9% 25.6% 130bps Dep
Slide 11: Balance Sheet statement
Balance Sheet statement (Rs. In Crore) Mar-26 Sep-26 ASSETS Net Fixed Assets 1,821 1,986 CWIP 450 274 Cash, bank & Investments 1,121 1,072 Inventories 597 636 Trade receivables 173 222 Other assets 138 135 Total Assets 4,300 4,325 EQUITY AND LIABILITIES Share capital 92 92 Reserve and surplus 3,460
Slide 12: Cash generation & capital deployment: H1 FY27
Cash generation & capital deployment: H1 FY27 CASH INFLOW CASH DEPLOYED ₹360 cr ₹408 cr NET CASH USED Working capital & others ₹217 cr 53% Cash operating profit ₹353 cr 98% Proceeds from ESOP ₹7 cr 2% ₹48 cr Dividends paid ₹110 cr 27% Growth capex ₹68 cr 17% to cash & treasury Repayment of loan ₹ 13
Slide 13: Growth outlook: building the next leg
Growth outlook: building the next leg COMMISSIONED GROWTH PIPELINE Salt capacity New salt works at Vacuum Salt Bromine expansion Zara Zumara Own rail siding ✓ Live since Aug 2026 ✓ Live since Oct 2026 In progress In progress To be started ANNUAL CAPACITY ANNUAL CAPACITY CAPACITY INCREASE ANNUAL CAPA
Slide 14: Industry Overview
< GHCL Industry Overview
Slide 15: Soda ash & sodium bicarbonate: industry scenario
Soda ash & sodium bicarbonate: industry scenario Demand by User Drivers of demand in India Segment 26% Traditional Glass • Infrastructure and Construction Boom India Global • Automotive Industry Expansion GHCL’s market share • Sustainable Packaging Push • Demand for Glass will surpass Detergent, wit
Slide 16: Vacuum salt industry
Vacuum salt industry ~INR 5,000 cr ~1.8 Mn MT ~6% CAGR >99.8% NaCl India vacuum salt market¹ India’s production capacity¹ Market growth rate¹ Typical purity of vacuum- evaporated salt The quality shift: solar salt → vacuum salt Two grades, distinct demand pools Parameter Solar salt Vacuum salt Iodis
Slide 17: Bromine industry
Bromine industry ~INR 1100 cr ~5% >50 kt ~10% Indian bromine market¹ Growth for India's Bromine India bromine demand, India’s share of global Market¹ 2025¹ bromine capacity¹ Demand mix: India vs Global Key end-use drivers in India Parameter Global India Agrochemicals & pharma ~70% of domestic demand
Slide 18: Company Overview
< GHCL Company Overview
Slide 19: Product offerings
Product offerings Soda Ash Sodium Bicarbonate Vacuum Salt Bromine Sodium carbonate Sodium hydrogen carbonate Sodium chloride Liquid bromine 12 lakh MT 1.2 lakh MT 1.7 lakh MT 2,400 MT installed capacity p.a. installed capacity p.a. installed capacity p.a. installed capacity p.a. CORE | 26% India sha
Slide 20: Evolution of GHCL through the years
Evolution of GHCL through the years Successfully demerged Commenced commercial spinning business into production of Vacuum Salt GHCL Textiles Limited & Bromine Soda Ash production capacity increased to 11 Doubled capacity of Completed shareholder Lacs MTPA / year in FY2019 sodium bicarbonate plant B
Slide 21: Guided by a visionary team
Guided by a visionary team Anurag Dalmia Arun Kumar Jain Experienced (Non-Executive Chairman) (Ex-IRS) (Independent Director) and Neelabh Dalmia Mrs. Vijaylaxmi Joshi accomplished (Executive Director, Growth & (Ex-IAS) (Independent Director) Board of Diversification) Directors R S Jalan Dr. Manoj Va
Slide 22: GHCL – Class leader with proven track record of strong execution
GHCL – Class leader with proven track record of strong execution Key Differentiating Factors Innovation in Unique 30 years of Best in class Best in class operational customer management utilization productivity processes servicing expertise GHCL leveraged operational excellence to navigate sectoral
Slide 23: Strategic Response to Market Trends
Strategic Response to Market Trends Macro Trend & Industrial Context GHCL Strategic Value Creation High energy & Feedstock Costs Diversifying fuel mix with biomass and renewable energy to hedge Soda ash is energy-intensive; global fuel surges threaten cost- import dependencies. Leveraging domestic r
Slide 24: Sustainability: growing responsibly
Sustainability: growing responsibly Climate Warriors Zero Harm Stakeholder Centricity • Shifting fuel mix to biomass & renewables • Safety culture transformation with global • Single-digit executive attrition since FY20 • Electrifying logistics with EV trucks expert DSS+ • ESG criteria built into su
Slide 25: About us
About us GHCL Limited was incorporated on 14th October 1983. For more information, please visit us at www.ghcl.co.in The Company has established itself as a well- diversified group with an ascertained footprint in Contact Us: chemicals and consumer products segments. In Chemicals, the Company mainly
Slide 26: Thank You
GHCL LIMITED Thank You