Gujarat Heavy Chemicals Ltd (GHCL) — founded on October 14, 1983 — is one of the largest producers of soda ash in India. The company has its registered office in Ahmedabad, Gujarat, and corporate office in Noida, Uttar Pradesh.
With a market capitalisation of over ₹5,800 crores as of January 12, 2024, GHCL's share price has gained over 185% in the previous three years.
Business operations
In chemicals, GHCL produces soda ash (anhydrous sodium carbonate), which is an essential raw material in the glass and detergent industries, as well as sodium bicarbonate (baking soda).
The company’s activities in the textile industry include spinning fibre (yarn), weaving, dyeing, printing and finishing to produce finished goods like duvets and sheets that are exported all over the world.
GHCL’s business also includes manufacturing edible and industrial-grade salt, as well as managing operations in the salt, honey and spices sector.
Soda Ash
In the chemical sector, GHCL specialises in the production of soda ash, an important raw material for detergent, glass, ceramics industries. The company’s soda ash manufacturing plant in Sutrapada, Gujarat, currently has an installed production capacity of 1.2 million tonnes per annum (MTPA).
Future expansion plans include a greenfield project aimed at elevating the production capacity to 22 MTPA within the next five to six years. According to the company’s annual report, GHCL is India’s second-largest soda ash manufacturer, holding a 26% market share. The company maintains lignite mines in Khadsaliya, Gujarat, ensuring supply of raw materials for Soda Ash production.
GHCL markets its soda ash under the Lion brand, offering two grades – light and dense. Dense soda ash is integral to industrial chemical manufacturing, especially in powdered detergent production, enhancing cleaning efficiency.
Light soda ash, a low-density variant of sodium carbonate, finds applications across multiple industries, including detergent manufacturing, casting, oil refining, chemicals, soaps, textiles, paper production, food processing and the creation of various sodium compounds.
GHCL supplies soda ash to many well-known detergent and glass manufacturers in the domestic market. Soda ash is one of the basic raw materials for producing soaps and detergents, glass and various sodium salts. Some of GHCL’s clients include Hindustan Unilever, Gujarat Borosil Ltd, FENA, P&G, Saint Gobain, Patanjali and Hindustan Zinc.
Sodium Bicarbonate
GHCL’s product portfolio also includes production of sodium bicarbonate (baking soda), with an annual output of approximately 0.12 MTPA. This versatile raw material finds applications in bakery, pharmaceuticals, fire extinguisher manufacturing, cleaning agents and various other industries.
Yarns
The company’s tarn division, situated in Madurai and Tiruchirappalli districts in Tamil Nadu, has earned recognition as a reliable manufacturer and supplier of diverse yarns.
Edible Salt
GHCL’s consumer product division focuses on the production and sale of edible salt and industrial-grade salt under the i-FLO and Sapan brands. The manufacturing facility in Vedaranyam of Tamil Nadu’s Nagapattinam district is complemented by a refinery in Chennai dedicated to edible salt manufacturing.
GHCL Financial Highlights
- Revenue: GHCL reported revenue of ₹3,137.64 crore in FY26 vs ₹3,271.22 crore in FY25. It showed a decrease of 4.08% on a yearly basis.
- Operating Profit: GHCL reported an operating profit of ₹642.33 crore in FY26 vs ₹836.07 crore in FY25. It showed a decrease of 23.17% on a year-on-year basis.
- Net Profit: GHCL reported a net profit of ₹472.46 crore in FY26 vs ₹624.15 crore in FY25. It showed a decrease of 24.30% on a yearly basis.
GHCL Quarterly Result Highlights
- GHCL reported revenue of ₹804.11 crore in Mar 2026, compared with ₹772.67 crore in Dec 2025, representing an increase of 4.07% on a quarter-on-quarter (QoQ) basis.
- GHCL reported an operating profit of ₹159.86 crore in Mar 2026, compared with ₹143.38 crore in Dec 2025, representing an increase of 11.49% on a quarter-on-quarter (QoQ) basis.
- GHCL reported a profit of ₹115.64 crore in Mar 2026, compared with ₹106.01 crore in Dec 2025, reflecting an increase of 9.08% on a QoQ basis.
- The earnings per share (EPS) of GHCL stood at ₹50.17 during Mar 2026.
Data Source: BSE, Company announcements
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