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Gujarat Alkalies and Chemicals Ltd. - 44th Annual General Meeting Held on 16th September, 2017 at VadodaraAHMEDABAD, India, September 18, 2017 /PRNewswire/ -- Gujarat Alkalies and Chemicals Ltd. successfully conducted its 44th Annual General Meeting on 16th September, 2017. The meeting was chaired by Shri P K Gera, IAS, Managing Director, GACL who addressed the shareholders sharing the Company's Board Report, the Standalone and Consolidated Audited Financial Statements for the financial year 2016-17 and other important Reports/Information. The company has expanded its operations from time to time in Chlor-Alkali and other sectors. It has proved to be a flag bearer in its area of operations by diversifying into several downstream high-end products. Currently, the company has 35 products in its basket, which are used by various industries in India and abroad. The company has about 14% share in the domestic Chlor-Alkali market. During the financial year 2016-17, the company has achieved the highest production of hydrogen peroxide and hydrochloric acid at its Vadodara and Dahej Complexes and also achieved the highest production of aluminium chloride, poly aluminium chloride, stable bleaching powder, sodium chlorate and chloro-toluene products at its Dahej Complex. The company could also successfully increase the sales quantity of caustic soda group, caustic potash group, chlorotoluene group, hydrogen peroxide, aluminium chloride, poly aluminium chloride, stable bleaching powder and sodium chlorate. The company has once again surpassed the highest ever sales, achieving a turnover of Rs. 2,255 crore in the financial year 2016-17 as against Rs. 2,179 crore in the previous financial year. This could be achieved despite keen competition and adverse market conditions. The company generated gross profit of Rs. 506 crore in the financial year 2016-17 as against Rs. 380 crore during the previous year, registering a growth of 33%. During the financial year 2016-17, it has also achieved the highest ever profit before tax of Rs. 382 crore compared to Rs. 263 crore in theprevious year, registering a growth of 45% and profit after tax of Rs. 308 crore compared to Rs. 220 crore in the previous year, thereby registering a growth of 40%. The company achieved better operational performance through cost control measures, consistent review of pricing strategy and other measures. It continues to thrust on cost control in the current financial year as well. Shri P K Gera took pride in mentioning the company's continued deliverance of superior performance in its first quarter which ended on 30th June, 2017. It achieved the highest ever quarterly sales turnover of Rs. 532 crore as against Rs. 515 crore in the same period of the previous year. Likewise, it also achieved the highest ever quarterly profit before tax of Rs. 128 crore from Rs. 112 crore and profit after tax of Rs. 95 crore as compared to Rs. 86 crore. Shareholders approved dividend of Rs. 5 per share (i.e. 50%) for the financial year ended on 31st March, 2017 as recommended by the Board. As a part of its growth plan, the company has taken up various new projects planned to be executed by financial year 2020-21. Such projects include increasing the production capacity for chloromethanes plant from 37,950 TPA to 56,100 TPA at Vadodara Complex, expanding hydrogen peroxide capacity by putting up another new 14,000 TPA plant, establishment of a new 1,05,000 TPA chloromethanes plant and 33,870 TPA food grade phosphoric acid plant at Dahej Complex. The Company is also expanding capacity of Stable Bleaching Powder (SBP) by putting up a new 15,000 TPA plant and Anhydrous Aluminum Chloride (AAC) by putting up a new 16,500 TPA plant at Dahej Complex. A pilot project on converting waste liquid into a marketable products, anhydrous sodium sulphate project is under implementation and is expected to be operational during the financial year 2017-18. GACL also formed a joint venture company with National Aluminium Company Ltd. (NALCO) - GACL-NALCO Alkalies & Chemicals Pvt. Ltd. - which was incorporated on 4th December, 2015 for setting up a new 800 TPD caustic soda plant integrated with a 130 MW coal-based power plant at Dahej. The company continues to promote green technology by raising its total installed wind power capacity to 171.45 MW. It is also installing a 15 MW solar power project at Gujarat Solar Park - Charanka, Dist. Patan, Gujarat. The company also continued to fulfil its corporate social responsibilities to enhance Human Development Index (HDI) by undertaking various thematic activities in various areas. At last, Shri P K Gera expressed his thanks to directors, shareholders and employees of the company. He also thanked the central and state government, promoters, bankers, auditors, customers, agents, dealers, suppliers and other stakeholders who have continued to extend their precious support and co-operation to the company at all times. About Gujarat Alkalies and Chemicals Ltd.: Gujarat Alkalies and Chemicals Ltd. (GACL) was established in the year 1973 in Vadodara, Gujarat with a view to manufacture caustic soda and allied products. Today, by harping on cutting-edge technology, groundbreaking research and development, GACL has emerged as one of the largest manufacturers of caustic soda with about 14% share in the national market. Today, the company has installed production capacity of 4,29,050 MT per annum of caustic soda and spread over two complexes at Vadodara and Dahej in Gujarat. For more information, please visit: http://www.gacl.com Media Contact: 
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