Quarter Ended: March 2026

GHCL Limited – Q4 FY26 Results

NSE

ghcl

BSE

500171

GHCL reported stable revenue but declining profitability due to rising costs and weaker operating leverage, while cash position saw a sharp decline.

key financial highlights

Revenue from Operations:
- Revenue (Q4 FY26): ₹790.51 Crore
  - QoQ Change: +4.49%
  - YoY Change: +1.16%
- Previous Quarter (Q3 FY26): ₹756.54 Crore
- Previous Year (Q4 FY25): ₹781.47 Crore
Profit After Tax (PAT):
- PAT (Q4 FY26): ₹119.97 Crore
  - QoQ Change: +12.43%
  - YoY Change: -21.39%
- Previous Quarter (Q3 FY26): ₹106.70 Crore
- Previous Year (Q4 FY25): ₹152.62 Crore
QoQ Performance
- Revenue Trend: Mild Growth
- Profit Trend: Recovery

Margin Analysis

Drivers:

Increase in power, fuel and water expenses
Higher other operating expenses
Inventory changes impacting cost base
Slight improvement in finance cost

Insight:

Margins compressed YoY despite QoQ recovery, indicating cost-side pressure remains a concern

Earning quality check

Drivers:

Core operating profit decline YoY
Limited reliance on exceptional items
Stable depreciation and finance cost
Weak operating cash conversion

Interpretations:

Earnings quality is moderate to weak — profits are declining despite stable revenue, and cash flow generation is deteriorating

balance sheet Analysis

Total Assets: ₹4,299.71 Cr
Total Liabilities: ₹747.82 Cr

Insight:

Balance sheet remains stable with strong equity base, but liquidity has weakened due to falling cash reserves

key risks

Margin pressure from rising energy and input costs
Declining cash and cash equivalents
Weak operating cash flow generation
Dependence on commodity cycles

management strategy signals

Focus Area:

Cost optimization initiatives
Improving operational efficiency
Capital allocation discipline
Strengthening cash flow generation

Financial metrics table

Particular	Q4 FY26	Q.O.Q	Y.O.Y
Revenue	₹790.51 Crore	+4.49%	+1.16%
EBIT	₹164.19 Crore	+13.99%	-22.35%
PAT	₹119.97 Crore	+12.43%	-21.39%

GHCL is currently facing margin compression and declining profitability despite stable revenue. While QoQ recovery is visible, weak cash flows and cost pressures make near-term outlook cautious. Long-term stability depends on cost control and margin recovery

Official Exchange Filing: GHCL Limited

Quarterly Performance Context

COST OF OPERATIONS AS % OF REVENUE

82%

NET PROFIT AS % OF REVENUE

15%

FISCAL YEAR

2025-2026

AUDIT STATUS

REVIEWED