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GOCL Corporation Limited
Media Q3 Consolidated Income of Rs. 160 crores, increase of 15% and Net Profit 26%

Q3 Consolidated Income of Rs. 160 crores, increase of 15% and Net Profit 26%

08-Feb-2019

Highlights
  • H1 Q3 Consolidated Income of Rs. 160 crores, increase of 15% and Net Profit 26%

Hyderabad, November 8, 2019: GOCL Corporation Limited, a Hinduja Group Company, has reported for Q3 a Consolidated Income of Rs. 160 crores, registering a growth of 15%. The Net Profit for Q3 increased to Rs. 12.68 crores an increase of 26%.

The PBT for the quarter Rs. 17.32 crores as against Rs. 12.76 crores was higher by 37% QoQ. The increase in PBT was from higher export sales of Energetics products, domestic sales of Bulk and Packaged explosives and exceptional income from sale of impaired assets.

On a standalone basis, the total income for Q3 increased by 10% from Rs. 27.62 crores to Rs. 30.25 crores. However, the Standalone profit for the Q3 was Rs. 6.70 crores, an increase of 80% QoQ

ENERGETICS AND EXPLOSIVES


In Q3, the Company recorded total revenue from Energetics and Explosives of Rs. 144 crores as against Rs. 124 crores in Q3 of the previous financial year, a growth of 16%.

Exports in Q3, Rs. 10.57 crores were as per trend in the previous year. Cumulative exports up to Q3 are Rs. 32.69 crores as against of Rs. 29.61 crores. However, with a strong order book we expect better performance in Q4.

The wholly owned subsidiary, IDL Explosives Limited ( IDLEL ), reported a total income of Rs.127 crores as compared to Rs. 107 crores in the same quarter of the previous year, a QoQ increase of 20 % across all bulk explosives and packaged explosives business of the Subsidiary. The Profit Before Tax for the quarter was Rs. 8.00 crores as against Rs. 5.04 crores in the same quarter of the previous year aided by increased sales volumes and operating efficiencies.

Currently, the Company along with IDLEL has Rs. 571 crores worth of orders on hand from domestic and export customers. Our R & D developed product electronics detonator is gradually gaining grounds with major customers like CIL, Tata Steel and the non-coal sector. The advantage in the usage of electronics detonators, were visible in the mines in Eastern sector. They have been able to extract locked coal deposits near habitats and villages where such ddetonators were used.

Process upgradations and cost rationalization area continuing at all plants of the Company to meet the emerging demand.

During the quarter the continuous cartridge emulsion plant at Rourkela Plant which has become fully operational started commercial production. Our continuous slurry plant set up last year was fully operational and has stabilised its operations. The quantities of large diameter explosives which has been well accepted in the market for its superior quality.

REALTY DIVISION


Ecopolis at Bengaluru

At 'Ecopolis' construction of Block 3 (2 Basement + Ground+ 10 upper Floors) and MLCP (multi-level car park), with potential of approx. over 7.6 lakh sq foot approx., of leasable area and 2500 car parks is completed. Block 3 is a certified LEED Gold rated buildings and is ready for fit-outs with occupancy certificate.

Construction on second building Phase 2, Block 2 is a green building which is pre-certified LEED Gold rated with a constructed area of 1.06 million sft. Block 2 is under-construction and proposed ready for fit-outs in Q1 2019. This building also has three levels of basement earmarked as parking to accommodate clients parking requirement with Ground floor and 10 upper floors.

Given the land available for future development, immediate and future office requirements of clients are being offered within the campus. We have several large organisations who have visited 'Ecopolis' and discussion is on for large built-to-suit facility for Lease / Sale options.

One complete floor has been leased and is operational since mid December 2018. We expect more occupants in the next quarters. Cafeteria as well as Tea / Coffee Cafe along with an ATM facility is under implementation.

Kukatpally, Hyderabad

The 100 acre township comprises of IT / ITeS office space, retail segment, educational institution, hotel, hospital and residential apartments. We have received approval from AAI (Airport Authority of India ) for Phase 1. Our application for Fire NOC is awaiting final approval post inspection.

For further information please visit www.goclcorp.com or contact:

Mr. A.Satyanarayana, Company Secretary, GOCL Corporation Limited at 040 23811442

Mrs. R. Chaudhry, Asst. General Manager - MDs Office, GOCL Corporation Limited, Hyderabad at 040 23700750.

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08-Feb-2019
Q3 Consolidated Income of Rs. 160 crores, increase of 15% and Net Profit 26%
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