Gujarat Alkalies & Chemicals Ltd(GUJALKALI)

NSE: GUJALKALIBSE: 530001

₹ 542-1.76%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 3,980 crWebsite: www.gacl.comUpdated: 24 Oct 2026

About

Gujarat Alkalies and Chemicals Ltd (GUJALKALI) is a Gujarat-based commodity chemicals manufacturer operating entirely within a single "Chemicals" segment, with chlor-alkali products such as Caustic Soda at its core. The company reported revenue of Rs.4,358.08 crores in FY26 and positions itself under a "Promoting Green Technology" banner. It operates manufacturing facilities at Dahej and is pursuing a strategic transformation programme, Project Ahvaan, targeting Rs.10,000 crore+ revenue by FY2031.^[1][2][3]

Business segments

The company operates under a single reportable segment - Chemicals - as disclosed under Ind AS 108; no separate segment reporting is made.^[2]

Products

Core product is Caustic Soda, sold in multiple forms including prills and flakes; Chlorotoluenes were added as a new product line with the commissioning of a 30 KTPA plant at Dahej on 29 March 2025.^[2]
First dispatch of Chlorotoluenes from the new Dahej plant was made on 21 April 2025; downstream derivatives of Chlorotoluenes and Sodium Chlorate are planned at the Dahej complex.^[2]

Operations

Manufacturing is located at Dahej, Gujarat; the Caustic Soda Prills Plant at Dahej is being debottlenecked from 120 MT/day to ~200 MT/day, with commissioning targeted for Q2 FY2025-26.^[2]
An additional 200 TPD Caustic Soda Flaking unit is being set up at Dahej alongside the debottlenecking project.^[2]
A 75 MW Group Captive Solar Power Plant, developed jointly with GIPCL and GSFC, was commissioned in phases: 25 MW in April 2025 and the remaining 50 MW in June 2025.^[2]
Power cost is a major operating concern; the weighted average cost of electrical power remained high in FY25 due to elevated natural gas and coal fuel costs and reduced wind power availability.^[2]
The company is arranging additional renewable power from NVVNL, Tata Power, and Kreate Energy to reduce its power cost burden.^[2]

Key operating numbers

Caustic Soda realisation recovered from USD 330 PMT (Rs.28,000/MT or lower) to USD 425 PMT (Rs.37,000/MT) as at the time of the FY25 annual report.^[2]
Total debt stood at Rs.551.57 crores as at 31 March 2025, up from Rs.543.43 crores as at 31 March 2024; debt-to-equity ratio was 0.12:1.^[2]

Expansion and capex

Project Ahvaan, a business transformation initiative in partnership with AT Kearney, targets revenue of Rs.10,000 crore+ and EBITDA of 20%+ by FY2031, covering procurement, power/fuel cost reduction, manufacturing, and commercial excellence.^[2]
30 KTPA Chlorotoluenes plant at Dahej was commissioned on 29 March 2025; downstream Chlorotoluene derivatives and Sodium Chlorate capacity is planned at the same complex.^[2]
Debottlenecking of the Caustic Soda Prills Plant at Dahej aims to raise capacity from 120 MT/day to ~200 MT/day; a 200 TPD Caustic Soda Flaking unit is also being added.^[2]

Recent developments

The 75 MW Group Captive Solar Power Plant with GIPCL and GSFC was fully commissioned by June 2025 (25 MW in April, 50 MW in June), providing lower-cost renewable power.^[2]
The Competition Commission of India imposed a penalty of Rs.1.88 crores in October 2017 for alleged contraventions in sales to Delhi Jal Board; the company's appeal before NCLAT has a stay in place on deposit of 10% of the penalty; matter remains pending as of FY25.^[2]

Market Cap

₹3,980 Cr

High / Low

₹815 / 410

Stock P/E

60.0

Price / Book

0.8

Book Value

₹707

EPS

₹-0.3

No. of Shares

7.34 Cr

ROCE

1.3%

ROE

0.0%

OPM

2.4%

Debt / Equity

0.11

Sales

₹4,358 Cr

Net Profit

₹-2 Cr

Promoter holding

47.3%

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