GACL FY26 PAT jumps 32% to ₹208 cr; ₹17.70 dividend

Key takeaway

Gujarat Alkalies and Chemicals Limited (GACL) reported a strong improvement in standalone profitability for FY26, with profit after tax (PAT) rising 32% to ₹208 crore on higher revenue and EBITDA. The company’s board also recommended a final dividend of ₹17.70 per share. However, the consolidated numbers remained in the red, with a net loss of ₹241 crore, largely due to losses in its joint venture.

FY26 results: profit rises as revenue grows 7%

For the financial year ended March 31, 2026, GACL said standalone revenue from operations increased 7% to ₹4,358 crore from ₹4,073 crore in FY25. Standalone PAT rose to ₹208 crore compared with ₹158 crore a year ago, reflecting a 32% year-on-year increase. The company’s full-year EBITDA rose 15% to ₹522 crore, which it attributed to higher capacity utilisation and improved sales realisations.

The audited standalone and consolidated financial results for the fourth quarter and full year were approved by the board at meetings held on May 28 and May 29, 2026, under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone strength vs consolidated drag

While standalone performance improved, the consolidated financial results for FY26 showed a net loss of ₹241 crore, compared with a net loss of ₹651 crore in the previous year. The consolidated figures include the results of joint venture company GACL-NALCO Alkalies & Chemicals Pvt. Ltd. (60%) and 26% of associates.

GACL disclosed that the joint venture incurred losses of ₹386.87 crore during FY26, with accumulated losses of ₹6,333.08 crore as of March 31, 2026. The company also said an external expert assessment determined that no impairment provision is required against its investment of ₹4,140 crore in the joint venture, as fair value exceeds the carrying amount.

Dividend recommendation: ₹17.70 per share

The board recommended a final dividend of ₹17.70 per equity share (177%) for the year ended March 31, 2026. GACL stated the total dividend outgo would be ₹1,299.83 crore on 7,34,36,928 equity shares of ₹10 each.

The company said the statutory auditors audited the financial results, which were reviewed by the audit committee.

Capital allocation: new hydrogen peroxide plant and other initiatives

Alongside the FY26 results, GACL approved a ₹67 crore investment in a new hydrogen peroxide plant, along with other strategic initiatives.

In earlier disclosures for FY26, the company’s board also approved major capital expenditure projects worth ₹1,029 crore. These projects include bio-fuel boilers, a food grade phosphoric acid plant, and caustic potash capacity enhancement. GACL said these projects are expected to generate additional revenues of ₹480 crore annually.

Quarterly trend in FY26: mixed earnings, steady revenue

GACL’s reported quarterly disclosures during FY26 showed revenue resilience, while profit metrics varied across periods.

For Q3 FY26, GACL reported revenue growth of 0.70% to ₹1,044.46 crore (converted from ₹1,04,446 lakh) and EBITDA improvement of 19% to ₹135 crore. In Q2 FY2025-26, the company reported sales revenue up 10% to ₹1,063 crore and EBITDA up 7% to ₹133 crore, along with profit before tax of ₹13 crore and half-year EBITDA of ₹258 crore.

For Q1 FY26 (as per the company’s Q1 highlight note), sales revenue increased 12.86% to ₹1,073 crore and EBITDA rose 62.31% to ₹125.09 crore, with PAT at ₹7.79 crore compared to a loss in the prior-year quarter.

Compliance and governance updates

GACL filed its Q4 FY26 compliance certificate under SEBI Regulation 74(5) with BSE, NSE, and depositories on April 6, 2026. The certificate was issued by registrar MUFG Intime India Private Limited and confirmed proper dematerialisation processes and regulatory compliance for the quarter ended March 31, 2026.

Separately, GACL had scheduled a board meeting for February 6, 2026, to consider standalone and consolidated unaudited provisional financial results for Q3 FY26 ended December 31, 2025.

Stock snapshot: prices, range, and reported returns

Market data shared alongside the updates showed GACL trading at ₹619.30 on BSE (up 0.35%) and ₹633.70 on NSE (up 2.57%) on June 12, 2026. The stock’s disclosed 52-week range stood at ₹410.00 to ₹815.00.

In another disclosure, GACL shares were noted as closing at ₹664.85 on June 1, 2026 (NSE), with reported returns of 27.67% over the last six months and 12.40% over the last 12 months.

Key numbers at a glance

Why this matters for investors

The FY26 result set highlights two parallel tracks for GACL. On a standalone basis, the company delivered higher revenue and a meaningful improvement in profitability, alongside a higher EBITDA figure and a dividend recommendation. On a consolidated basis, the joint venture’s losses continued to weigh on reported performance, even as the overall consolidated loss narrowed versus the previous year.

The capex approvals and the ₹67 crore investment for a new hydrogen peroxide plant show the company’s continued focus on capacity and product initiatives. At the same time, the joint venture disclosures, including accumulated losses and the impairment assessment, remain central to how the consolidated story is tracked.

What to track next

Investors will watch for the timeline and execution updates on the ₹1,029 crore capex programme and the hydrogen peroxide plant investment. The dividend recommendation, if approved through the necessary process, will also be a near-term corporate action in focus. Future quarterly disclosures will be important to assess whether standalone profitability remains stable and whether the consolidated losses continue to narrow.