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Gujarat Alkalies and Chemicals Limited (GUJALKALI)

₹541.10 -2.00% last close, 23 Oct

📊 NSE: GUJALKALI 🏢 Chemicals 📢 Latest filing: 22 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Gujarat Alkalies' revenue was ₹1,245 Cr (+12.6% year on year, +10.7% on the previous quarter), and net profit ₹55.0 Cr (against a loss a year earlier); the operating margin was 17.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,245	+12.6%	+10.7%
Operating profit	₹222	+133.3%	+101.5%
Net profit	₹55.0	from loss	+266.5%
EPS (₹)	7.49	from loss	+267.2%
Operating margin	17.8%	—	—

Full quarterly financials → Results calendar →

GUJALKALI delivery percentage

NSE end-of-day data for Fri, 23 Oct 2026

On Fri, 23 Oct 2026, 38.34% of the GUJALKALI shares traded on NSE were taken to delivery, against the stock's own 20-session average of 42.95%. That is close to its usual level.

38.34%Delivery, 23 Oct

42.95%Own 20-session average

1.0×Volume vs its average

₹541.10NSE close · -2.00%

Delivery in the last 5 sessions: 50.3% · 43.4% · 45.1% · 40.8% · 38.3%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

GUJALKALI Conducts Ground-Breaking for 33,870 TPA Food Grade Phosphoric Acid Plant

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 22 Oct 2026, 02:59 PM

Gujarat Alkalies and Chemicals Limited has conducted the ground-breaking ceremony for its 33,870 TPA Food Grade Phosphoric Acid plant (PPA-II facility) at Dahej on October 22, 2026. This follows the company's strategic roadmap to expand into higher-margin, value-added chemicals to cushion against the cyclicality of the core chlor-alkali market. Detailed engineering will be handled by M/s. IBIC Engineering and Consultancy Limited. Total project cost and commercial operational timelines were not disclosed in the filing.

Ground-breaking ceremony held on October 22, 2026, for the PPA-II facility at Dahej
Target capacity of the new Food Grade Phosphoric Acid plant is 33,870 TPA
Detailed engineering consultancy awarded to M/s. IBIC Engineering and Consultancy Limited
Expansion follows initial project approval communicated on February 6, 2026

💡 Track subsequent disclosures for the total capex outlay, commissioning deadlines, and chlorine integration benefits.

GUJALKALI: Submits Reg 74(5) Dematerialisation Certificate for Quarter Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 03:19 PM

Gujarat Alkalies and Chemicals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited for the quarter ended September 30, 2026. It confirms that share certificates received for dematerialisation during the period were processed, confirmed to depositories, and listed on stock exchanges. This is a standard regulatory compliance filing with no impact on operations or financials.

Compliance certificate submitted under Regulation 74(5) of SEBI (DP) Regulations, 2018
Pertains to the quarter ended September 30, 2026
Issued by RTA MUFG Intime India Private Limited on October 6, 2026
Confirms processing and listing of dematerialised securities under ISIN INE186A01019

💡 No action is required as this is a recurring regulatory disclosure. Investors should look out for upcoming Q2 FY27 earnings announcements.

GUJALKALI Shareholders Approve Rs 17.70 Dividend & Key RPTs with GNAL Subsidiary at 53rd AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 28 Sep 2026, 02:27 PM

Gujarat Alkalies and Chemicals Limited announced the voting results of its 53rd AGM held on September 25, 2026. Shareholders approved all resolutions, including a dividend of Rs 17.70 per share (177%) on equity shares of face value Rs 10. Additionally, key material Related Party Transactions (RPTs) involving its material subsidiary GACL-NALCO Alkalies & Chemicals Private Limited (GNAL) and NALCO were approved with 99.98% votes in favor among valid votes. 1,94,74,806 shares held by related parties were declared invalid for voting on the RPT resolutions.

Approved dividend of Rs 17.70 per equity share (@ 177%) with 100.00% favourable votes (4,16,58,031 votes)
Adopted audited financial statements for FY26 with 100.00% approval
Approved material RPTs for supply of goods, services, and interest on CCDs with subsidiary GNAL with 99.98% votes in favour (69,37,193 votes)
Approved material RPTs between GNAL and NALCO with 99.98% votes in favour (69,37,193 votes)
1,94,74,806 votes across 3 related party members treated as invalid for RPT resolutions

💡 Track the payment timeline for the Rs 17.70 dividend and monitor GNAL's capacity ramp-up progress toward 85-90% in upcoming quarterly updates.

GUJALKALI Schedules One-on-One Virtual Investor Meeting with HSBC on September 18, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Sep 2026, 05:27 PM

Gujarat Alkalies and Chemicals Limited has scheduled a one-on-one virtual meeting with HSBC Securities and Capital Markets (India) Pvt. Ltd. on September 18, 2026. The company noted that only publicly available information and corporate presentations will be discussed. GUJALKALI has a market capitalization of ₹5,213 crore and generated TTM revenue of ₹4,498 crore with recent quarterly revenue of ₹1,244.91 crore in June 2026. This is a procedural disclosure under Regulation 30 of SEBI LODR regulations.

One-on-one analyst meeting scheduled with HSBC Securities on September 18, 2026
Interaction to be conducted via virtual mode
Only publicly available information and website presentations to be shared
Company market capitalization stands at ₹5,213 crore with TTM revenue of ₹4,498 crore

💡 Track if any post-meet presentation or transcript is uploaded on the exchanges following the September 18, 2026 meeting.

GUJALKALI Submits Annual Business Responsibility and Sustainability Report (BRSR) for FY 2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Aug 2026, 03:06 PM

Gujarat Alkalies and Chemicals Limited (GUJALKALI) has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 as part of its 53rd Annual Report. The report discloses operational details including a 22% revenue contribution from exports across 52 international countries. Caustic Soda Lye remains the primary product, accounting for 31.65% of turnover, followed by Caustic Soda Flakes at 12.74%. The filing represents a mandatory annual statutory ESG disclosure with no immediate financial impact.

Exports contributed 22% of total turnover, reaching 52 international countries alongside 20 domestic states and UTs
Caustic Soda Lye accounted for 31.65% of revenue, while Caustic Soda Flakes contributed 12.74%
Total workforce comprised 708 permanent employees and 4,259 workers (662 permanent, 3,597 contractual)
Stand-alone turnover for CSR applicability stood at INR 4,24,650 Lakhs (approx. Rs 4,246.50 Cr) with net worth of INR 4,46,914 Lakhs

💡 Track the upcoming 53rd Annual General Meeting proceedings and upcoming Q2 FY27 earnings for operational updates on chlor-alkali realisations and JV ramp-up.

GUJALKALI issues 53rd AGM Notice; Rs 17.70/share dividend & Rs 1,000 Cr RPT limits on agenda

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Aug 2026, 02:47 PM

Gujarat Alkalies and Chemicals Limited has issued the notice for its 53rd Annual General Meeting scheduled for September 25, 2026. Key agenda items include shareholder approval for a dividend of Rs. 17.70 per share (177%) for FY26. Additionally, the company seeks approval for material related-party transactions up to Rs. 1,000 Crore each with its joint venture subsidiary GACL-NALCO Alkalies & Chemicals Pvt. Ltd. (GNAL) and between GNAL and NALCO for FY27.

53rd Annual General Meeting scheduled for September 25, 2026, via Video Conferencing.
Proposed dividend declaration of Rs. 17.70 per equity share (177%) on face value of Rs. 10 for FY26.
Shareholder approval sought for Related Party Transactions with GNAL up to Rs. 1,000 Crore during FY27.
GNAL-NALCO Related Party Transaction approval sought for an aggregate value up to Rs. 1,000 Crore in FY27.
Cost auditor remuneration approved at Rs. 3,19,000 per annum plus applicable taxes for FY27.

💡 Track shareholder voting results post-AGM on September 25, 2026, and monitor the operational ramp-up and capacity utilization of the GNAL joint venture.

GUJALKALI to Attend Analyst & Investor Meet on August 24, 2026 in Mumbai

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Aug 2026, 11:11 AM

Gujarat Alkalies and Chemicals Limited (GUJALKALI) has scheduled an in-person Analyst and Institutional Investor Meeting on Monday, August 24, 2026, in Mumbai. The interaction includes both group and one-on-one sessions organized by Antique Stock Broking Limited. The company confirmed that discussions will rely exclusively on publicly available information and corporate presentations.

Analyst and Institutional Investor Meet scheduled for Monday, August 24, 2026
Physical meeting to be held in Mumbai comprising group and one-on-one interactions
Organized by Antique Stock Broking Limited
Discussions restricted strictly to publicly available earnings and corporate presentations

💡 Track post-meet disclosures or updated investor presentations on stock exchanges to see if there are any commentary updates on GNAL JV utilization or chlor-alkali price trends.

Gujarat Alkalies Updates RTA Email ID to investor.helpdesk@in.mpms.mufg.com

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 14 Aug 2026, 04:27 PM

Gujarat Alkalies and Chemicals Limited has informed the exchanges of a change in the email address for its Registrar and Share Transfer Agent (RTA). The RTA, MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), has updated its investor helpdesk email. This is a purely administrative update regarding shareholder communication channels. Other contact details and the RTA's physical address remain unchanged.

RTA name updated to MUFG Intime India Private Limited from Link Intime India Private Limited
New investor helpdesk email address is investor.helpdesk@in.mpms.mufg.com
Announcement made on August 14, 2026
Physical address and other contact details of the RTA remain unchanged

💡 Shareholders should update their contact records for the RTA to ensure any future queries regarding share transfers or dividends are sent to the correct email address.

GUJALKALI Updates Registrar (RTA) Email ID for Investor Correspondence

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 14 Aug 2026, 04:08 PM

Gujarat Alkalies and Chemicals Limited has announced a change in the email address of its Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited (formerly Link Intime India Private Limited). The new email for investor queries is investor.helpdesk@in.mpms.mufg.com. This is a purely administrative update and does not affect the company's financial operations or business strategy. All other contact details and the physical address of the RTA remain unchanged.

RTA name updated to MUFG Intime India Private Limited from Link Intime India Private Limited
New investor helpdesk email ID is investor.helpdesk@in.mpms.mufg.com
Announcement made on August 14, 2026, with immediate effect
Physical address and other contact details of the RTA remain unchanged

💡 Shareholders should note the new email address for any future correspondence regarding share transfers, dividends, or other registry-related matters. No action is required regarding investment holdings.

GUJALKALI Releases Updated June 2026 Investor Presentation

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Aug 2026, 03:25 PM

Gujarat Alkalies and Chemicals Limited (GACL) has published its updated investor presentation for the period ending June 2026. The company is currently operating in a high-valuation, low-margin environment with a TTM P/E of 786.8 and a TTM PAT of just ₹6 Cr on ₹4,358 Cr revenue. Management continues to focus on ramping up the GNAL JV to 85-90% capacity and diversifying into value-added chemicals to counter the cyclicality of the chlor-alkali market.

TTM Revenue stands at ₹4,358 Cr with a thin operating margin of 8.8%
GNAL JV target capacity utilization remains at 85-90% to drive growth
Promoter holding by the Government of Gujarat is stable at 47.28%
Company maintains a low Debt-to-Equity ratio of 0.10 despite industry headwinds

💡 Investors should monitor the GNAL JV's ability to dispose of chlorine byproduct, as this is the primary bottleneck for achieving the 85-90% utilization target.

CARE Downgrades GACL Long-Term Rating to 'AA-' on Weak Financial Performance

🔴 NEGATIVE ⭐ 9/10

REGULATORY 📅 04 Aug 2026, 04:06 PM

CARE Ratings has downgraded Gujarat Alkalies and Chemicals Limited's (GACL) long-term rating from 'CARE AA; Stable' to 'CARE AA-; Stable'. The downgrade follows two consecutive years of lower-than-expected financial performance, with TTM PAT dropping to just Rs 6 Cr on a revenue of Rs 4,358 Cr. The agency cited moderate caustic soda prices, negative chlorine realizations, and a slower-than-envisaged ramp-up of the GNAL joint venture as primary reasons. While Q1FY27 showed some margin improvement, the sustainability of this recovery remains uncertain due to industry cyclicality.

Long-term bank facilities of Rs 372.63 Cr downgraded to CARE AA- (Stable) from CARE AA (Stable).
Consolidated TTM PAT stands at Rs 6 Cr against a revenue base of Rs 4,358 Cr, reflecting severe margin pressure.
Renewable energy contribution increased to ~35% of total power requirements, reducing average power cost to Rs 7.90 per unit in FY26.
GNAL JV utilization improved to 82% in Q4 FY24, but overall financial contribution remains below previous expectations.
Short-term bank facilities of Rs 339.50 Cr and Commercial Paper of Rs 100 Cr reaffirmed at CARE A1+.

💡 Investors should monitor the Electrochemical Unit (ECU) realizations and the progress of the GNAL JV toward its 85-90% capacity utilization target. The key to a rating upgrade will be a sustained PBILDT margin above 12% and a reduction in consolidated Total Debt/PBILDT below 1.50x.

CARE Downgrades GUJALKALI Long-Term Rating to 'AA-; Stable' from 'AA'

🔴 NEGATIVE ⭐ 9/10

REGULATORY 📅 30 Jul 2026, 10:33 AM

CARE Ratings has downgraded Gujarat Alkalies and Chemicals Limited's (GACL) long-term bank facilities of Rs 372.63 Cr to 'CARE AA-; Stable' from 'CARE AA; Stable'. The downgrade follows a review of FY26 audited and Q1FY27 unaudited performance, reflecting a period of thin profitability with TTM PAT at just Rs 6 Cr. Short-term ratings for bank facilities (Rs 339.50 Cr) and Commercial Paper (Rs 100 Cr) were reaffirmed at 'CARE A1+'. The company has requested the rating agency to provide detailed reasons for the long-term downgrade.

Long-term bank facilities of Rs 372.63 Cr downgraded to 'CARE AA-; Stable' from 'CARE AA; Stable'.
Short-term bank facilities of Rs 339.50 Cr reaffirmed at 'CARE A1+'.
Commercial Paper issue of Rs 100 Cr reaffirmed at 'CARE A1+'.
Long-term rated amount reduced to Rs 372.63 Cr from the previous Rs 482.34 Cr.
Ratings review based on FY26 audited and Q1FY27 unaudited financial performance.

💡 Investors should monitor the detailed rating rationale from CARE when released to identify specific triggers for the downgrade, such as margin pressure or GNAL JV performance. Watch for improvements in Electrochemical Unit (ECU) realizations in upcoming quarterly results.

GUJALKALI Sets Sept 18 as Record Date for FY26 Dividend; AGM on Sept 25

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 29 Jul 2026, 04:33 PM

Gujarat Alkalies and Chemicals Limited (GACL) has announced the schedule for its 53rd Annual General Meeting (AGM) and subsequent dividend payout. The company has fixed September 18, 2026, as the record date to determine shareholder eligibility for the dividend for the financial year ended March 31, 2026. The AGM will be held on September 25, 2026, via video conferencing. If approved by shareholders, the dividend payment will commence on or after September 30, 2026. This follows a fiscal year where GACL reported a marginal net profit of ₹6.4 crore on a revenue base of ₹4,358 crore.

Record date for dividend entitlement fixed as September 18, 2026
53rd Annual General Meeting (AGM) scheduled for September 25, 2026
Dividend payment to be processed on or after September 30, 2026
Company reported a TTM PAT of only ₹6 crore against a Net Worth of ₹5,570 crore
Promoter holding (Govt. of Gujarat) remains stable at 47.28% as of March 2026

💡 Investors seeking the dividend must hold shares before the ex-dividend date (typically one working day prior to the Sept 18 record date). Monitor the AGM for management updates on the GNAL JV capacity ramp-up, which is targeted at 85-90%.

GUJALKALI Sets Sept 18 as Record Date for Dividend; 53rd AGM on Sept 25, 2026

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 29 Jul 2026, 04:20 PM

Gujarat Alkalies and Chemicals Limited (GACL) has announced its 53rd Annual General Meeting (AGM) will be held on September 25, 2026. The company has fixed September 18, 2026, as the record date to determine shareholder eligibility for the FY26 dividend. If approved by shareholders, the dividend payment will commence on or after September 30, 2026. This follows a recovery year where the company posted a small profit of ‡6.4 Cr in FY26 after a loss in FY25.

53rd Annual General Meeting scheduled for September 25, 2026, via Video Conference.
Record date for dividend entitlement fixed as September 18, 2026.
Dividend payment to be processed on or after September 30, 2026, subject to shareholder approval.
Company reported a thin PAT of ‡6.4 Cr for FY26 on a revenue base of ‡4,357.77 Cr.
Promoter holding (Govt. of Gujarat) remains stable at approximately 47.3%.

💡 Investors seeking the dividend must hold shares by the record date of September 18, 2026. Monitor the AGM for management commentary on the GNAL JV capacity ramp-up and chlorine disposal strategies.

Sept 18 Set as Record Date for GUJALKALI Dividend; 53rd AGM on Sept 25

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 29 Jul 2026, 04:09 PM

Gujarat Alkalies and Chemicals Limited (GUJALKALI) has fixed September 18, 2026, as the record date to determine shareholder eligibility for the FY26 dividend. The 53rd Annual General Meeting (AGM) is scheduled for September 25, 2026, with dividend disbursements starting from September 30, 2026, if approved. This announcement comes as the company navigates a low-margin period, reporting a TTM PAT of just Rs 6 Cr on a revenue base of Rs 4,358 Cr.

Record date for FY26 dividend entitlement is Friday, September 18, 2026
53rd Annual General Meeting scheduled for Friday, September 25, 2026
Dividend payment to commence on or after Wednesday, September 30, 2026
Company reported a thin TTM EPS of Rs 0.87 against a current price of Rs 689.5

💡 Investors should monitor the upcoming AGM for management commentary on Electrochemical Unit (ECU) realizations and the progress of the GNAL JV ramp-up to 85-90% capacity.

View All GUJALKALI Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated sales revenue for Q2 FY26 grew 10% YoY to INR 1,063 Cr from INR 966 Cr. Standalone revenue for FY23 grew 20% YoY, though 9M FY24 saw a decline due to lower caustic soda realisations.

Profitability Margins

FY23 PBILDT margin was 24.56% (down from 26.38% in FY22) and PAT margin was 9.10% (down from 14.91% in FY22). FY25 standalone PBT improved to INR 9.72 Cr from a loss of INR 195.88 Cr in FY24.

EBITDA Margin

FY23 PBILDT margin was 24.56%, a decrease of 182 bps YoY. FY25 EBITDA increased 100.1% to INR 452.56 Cr from INR 226.10 Cr in FY24, reflecting a recovery in core operational profitability.

Capital Expenditure

Major ongoing capital expenditure projects were completed in FY23. GNAL (JV) completed its project with significant delays, impacting initial ramp-up and cash flows.

Credit Rating & Borrowing

Long-term rating revised to CARE AA; Stable from CARE AA+; Stable in February 2024. Short-term rating reaffirmed at CARE A1+. Finance costs rose 13.4% to INR 50.54 Cr in FY25 due to interest on CCDs issued by the GNAL JV.

⚙️ Operational Drivers

Raw Materials

Power, Fuel, and Natural Gas are the primary inputs, with power and fuel costs accounting for approximately 30-34% of the total cost structure.

Key Suppliers

Gujarat State Financial Services (GSFS) provides term loans (INR 75 Cr in FY25). Sanghvi Organics Pvt Ltd acts as a contract manufacturer.

Capacity Expansion

GNAL JV is currently ramping up operations with a target to achieve 85-90% capacity utilization in the near to medium term, up from 65% in FY24.

Raw Material Costs

Power and fuel costs increased in FY23, contributing to margin compression. Electrolysis is energy-intensive, making the company highly sensitive to utility price volatility.

Manufacturing Efficiency

Plants operated at optimum capacity utilization in 9M FY24 despite industry headwinds. GNAL utilization improved from 49% in Q1 FY24 to 82% in Q4 FY24.

📈 Strategic Growth

Expected Growth Rate

10%

Growth Strategy

Growth will be driven by ramping up the GNAL JV to 85-90% capacity and diversifying the product mix into value-added chemicals to insulate the company from the inherent cyclicality of the chlor-alkali industry.

Products & Services

Caustic Soda (Lye and Flakes), Chlorine, Hydrogen, Chloromethanes, and other value-added chemical products.

Brand Portfolio

GACL (Gujarat Alkalies and Chemicals Limited).

New Products/Services

Expansion into value-added chemical products is planned to increase resilience against chlor-alkali price cycles, though specific revenue contribution percentages are not disclosed.

Market Share & Ranking

Ranked as the 2nd or 3rd largest player in the domestic caustic chlorine industry in India.

Strategic Alliances

GACL-NALCO Alkalies & Chemicals Pvt Ltd (GNAL), a 60:40 joint venture with NALCO, is a material subsidiary focused on caustic soda production.

🌍 External Factors

Industry Trends

The industry is currently facing a period of oversupply and subdued prices. Future direction involves a shift toward green technology and captive renewable energy to manage high power costs.

Competitive Landscape

Key dynamics include competition from large domestic integrated players and the threat of cheaper imports during global downturns.

Competitive Moat

Moat is derived from integrated operations, state-of-the-art technology, and strong promoter backing from the Government of Gujarat (46.28% stake).

Macro Economic Sensitivity

Highly sensitive to the chlor-alkali cycle and GDP growth, as end-use industries for caustic soda and chlorine are diversified across the manufacturing sector.

Geopolitical Risks

Threat of heavy dumping of caustic soda from international markets significantly impacts domestic ECU realisations and profitability.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to stringent environmental and safety regulations regarding the handling and disposal of hazardous chemicals like chlorine.

Environmental Compliance

Waste is disposed of at TSDF or CHWIF facilities. Compliance is critical as tightening pollution norms or regulatory bans on specific chemicals could halt production.

Taxation Policy Impact

The company utilizes MAT (Minimum Alternate Tax) credit entitlements and manages deferred tax liabilities, with a current income tax provision of INR 0.91 Cr in FY25.

Legal Contingencies

A provision of INR 15.49 Cr was made in Q2 FY26 for goods damaged due to a fire at the premises of contract manufacturer Sanghvi Organics Pvt Ltd.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the financial performance of the GNAL JV, which reported a net loss of INR 174 Cr in FY24, potentially requiring further financial support from GACL.