GHCL Limited — Investor Meet, 07-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

GHCL's Q2 FY'26 results show revenue at INR 739 Cr, EBITDA at INR 175 Cr (23.8% margin), and PAT at INR 107 Cr, reflecting YoY declines due to soft soda ash realizations. Domestic demand remains healthy, but global oversupply and cheap imports pressure pricing. Management holds a cautious price outlook, noting antidumping duty recommendations could offer some relief. Bromine and vacuum salt projects are on track for Q4 FY'26 commissioning, expected to add INR 70-80 Cr EBITDA in FY'27. Greenfield soda ash expansion is slower due to land clearances. A buyback of INR 300 Cr was announced. Management is confident in long-term India growth and operational efficiencies.