GHCL Limited completes demerger of spinning business into GHCL Textiles Limited, effective April 1, 2023
New Delhi : GHCL Limited, India’s leading Chemical & Textile Company, announced effective date of demerger of its spinning business as April 1, 2023, which will henceforth be referred to as GHCL...
New Delhi : GHCL Limited, India’s leading Chemical & Textile Company, announced effective date of demerger of its spinning business as April 1, 2023, which will henceforth be referred to as GHCL Textiles Limited. This marks completion of demerger of textiles business of GHCL Ltd.
Commenting on the announcement, Mr. R S Jalan, Managing Director, GHCL Limited said, “Over the past few years, GHCL Limited has delivered a significant operational performance, consistently generated healthy cash flows, and strengthened its balance-sheet. At the same time, have meticulously enhanced our footprint through various value-creating capacity and capability augmentations. Having distinct operating entities shall allow both businesses to prioritize relevant focus areas and respond to market opportunities in a nimbler manner. This demerger is envisaged to create strong independent businesses uniquely positioned to enhance stakeholders’ value over time.”
ABOUT GHCL Limited
GHCL Limited is engaged in the manufacture of Soda Ash (Anhydrous Sodium Carbonate), that is a major raw material for detergents & glass industries and Sodium Bicarbonate (baking soda). Through a demerger it has separated its spinning business into GHCL Textiles Limited, which will continue to produce multiple varieties of fibre (yarn), sold to domestic consumers as well as exported worldwide.
Sustainability is a core element of business strategy as defined by the ‘GHCL Way’ with its four pillars i.e. Responsible Stewardship, Social Inclusiveness, Promoting Relationship and Adding Value. Both GHCL Limited and GHCL Textiles Limited remain committed to working closely with stakeholders at various plant locations for promoting the agenda of sustainability underpinning on the core values of Respect, Trust, Ownership and Integrated Teamwork.
