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Home / India News / 2007 / January / January 29, 2007
GHCL Limited Reports Financial Performance for Quarter Ended 31st Dec, 2006

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GHCL Limited Reports Financial Performance for Quarter Ended 31st Dec, 2006

New Delhi, Delhi, India

Highlights

-- Income from Operations for the quarter at Rs.217.05 Crores as against Rs. 169.22 Crores reported in the Dec 05, is higher by 28%. Income from Operations for 12 M period ending Dec 2006 is recorded at Rs. 821.03 Crores as against 629.20 Crores in 12 M period ending Dec 2005, is higher by 30 %.

-- Textiles division revenue during the quarter accounts for 26.6% (Rs.57.63 crores) of the total business, with a growth of 29% YoY.

-- Textiles division revenue during the quarter (Dec 2006) strengthen its position with a growth of 67% over the previous quarter (Sept 2006).

-- EBIDTA for the quarter at Rs.61.68 Crores as against Rs.46.86 Crores reported in the Dec 2005, is higher by 32%. EBIDTA for 12 M period ending Dec 2006 is recorded at Rs. 224.61 Crores as against 172.72 Crores for the corresponding period, is higher by 30 %.

-- Profit After Tax for the quarter at Rs. 31.07 Crores as against Rs. 26.55 Crores reported in the Dec 2005, is higher by 17 %. PAT for 12M period ending Dec 2006 is recorded at Rs. 114.94 Crores against 91.98 for the 12 M period ending Dec 2005, higher by 25 %.

-- Dan River Inc. USA, a step down subsidiary of GHCL Limited, acquired assets of H W Baker Lenin operating in hospitality segment of Home textile business. This acquisition will enhance Dan River's Revenue by USD 70 mn on annual basis with significant addition to gross margin by USD 15 mn.

-- GHCL consolidates Dan River operations, improved order book, led by strong marketing, outsourcing and HR initiatives.

-- Improved performance from Rosebys with a growth of 10% in top line recorded after acquisition, period ending Dec 2006 at GBP 56 mn.

-- Complete textile integration of Vapi(Indian), Dan-River(USA) & Rosebys(UK) operations.

-- Ramp up of Vapi operations, month of December achieving a sales of about Rs.200 million, with a capacity utilization of 60%.

-- Company's Indian soda ash expansion plan to add capacity of 2.5 lacs MT to reach 8.5 lac MT is progressing ahead of schedule

Results overview

Corresponding Quarters ended DECEMBER 2006 Vs December 2005:

The Company has posted a strong financial performance for Quarter Ended DECEMBER 2006

Net Sales/Income from operations increased by 28 % to Rs. 217.05 Crores from 169.22 Rs. Crores reported during the corresponding quarter.

The PBDIT in the present quarter increased 32 % to Rs. 61.68 Crores from Rs. 46.86 Crores.

The Profit After Tax has increased by 17 % in the present quarter to Rs. 31.07 Crores from Rs. 26.55 Crores reported in the quarter ended DECEMBER 2005.

EPS for the quarter is higher by 16% in the present quarter at Rs. 3.22 (basic) from Rs. 2.69 in the reported quarter ended December 2005

Business Mix:

-- Textiles division revenue during the quarter (Dec 2006) accounts for 26.6% ( Rs. 57.63 Cr.) of the total business, with a growth of 29% YoY.


-- Soda Ash revenue during the quarter (Dec 2006) accounted for 60 % (Rs. 130 Cr.) of the total business, with a growth of 6% YoY.


Sequential Quarters ended DECEMBER 2006 Vs September 2006:

Net Sales/Income from operations increased by 12 % to Rs. 217.05 Crores from Rs. 194.30 Crores reported in the previous quarter.

The PBDIT in the present period increased 28 % to Rs. 61.68 Crores from Rs. 48.16 Crores.

The Profit After Tax has increased by 26 % in the present period to Rs. 31.07 Crores from Rs. 24.71 Crores reported in the quarter ended September 2006.

Buisness Mix:

-- Textiles division revenue during the quarter (Dec 2006) strengthen its position with the business mix of 26.6% over the previous quarter (Sept 2006) business mix of 17.7% . The growth in the above segment is 67% (Rs. 57.63 Cr.) in the Dec 06 over Sept 06.

-- Soda Ash revenue during the quarter (Dec 2006) accounted for 60% ( Rs. 130 Cr.) of the total business.

About GHCL

GHCL, a multi product progressive organization, is a part of the eminent and reputed Dalmia Group.

In the textiles area GHCL through its overseas subsidiary had acquired Dan River, a leading player in the Home Textile markets with an annual turnover of US$ 250 Million. Dan River has a wide sales & distribution network catering to the largest retailers and a formidable supplier to large retailers like JC Penny, Linen & Things, Wal-mart and Bed, Bath & Beyond.

GHCL had also acquired over 100 % of the shares of UK's largest home textiles retailer- Rosebys in the month of July 2006. The acquisition was done at a cost of $40 Million.

Rosebys has a strong presence in bedding, curtains and kids garments with over 300 retail outlets across UK and an annual turnover of close to $ 250 million. More than 2000 are currently being employed by Rosebys in UK.

In the soda ash business, the company, through its overseas subsidiary has acquired a majority stake in S.C. Bega Upsom S.A.- a leading soda ash manufacturer in Romania. The total soda Ash capacity (India + Romania) of the company is now at 11.5 lacs MTPA after the recent addition of Indian capacity of 2.5 lacs MTPA.

To view the press release along with the tables, please click on the link below:

Financial Results

Harsh Wardhan , Mutual PR, +91 9810162711 harsh@mutualpr.com

Nikhil Sen, GHCL Ltd, +91 9810618668 nisen@ghcl.co.in

Source: GHCL Limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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