GHCL Limited , a leading chemical and textile company, has announced a significant buyback offer for its shareholders. The company plans to repurchase 41,37,931 equity shares at a price of ₹725 per share through a tender offer route, totaling approximately ₹300 crore.

Key Details of the Buyback

Regulatory Compliance and Transparency

The buyback offer adheres to the Securities and Exchange Board of India (SEBI) Buyback Regulations. GHCL Limited has taken steps to ensure transparency and compliance:

1. The company published an offer opening advertisement on November 19, 2025, in multiple newspapers, including:

   • Financial Express (English Daily - All editions)
   • Jansatta (Hindi Daily - All editions)
   • Financial Express (Gujarati Daily - Ahmedabad Edition)

2. GHCL has submitted the necessary documentation to both the National Stock Exchange of India Limited (NSE) and BSE Limited.

3. The Letter of Offer, along with Tender Forms and Form SH-4, has been dispatched to eligible shareholders.

Implications for Shareholders

This buyback offer presents an opportunity for GHCL's shareholders to tender their shares at a premium to the current market price. It's important to note that participation in the buyback is voluntary, and shareholders should consider their individual financial situations and investment goals before making a decision.

Market Impact

Buybacks can potentially lead to:

• Improved earnings per share (EPS)
• Enhanced shareholder value
• Increased stock price in the short term

However, investors should conduct their own research and consider seeking professional advice before making investment decisions based on this corporate action.

GHCL Limited's shares are listed on both the NSE and BSE. Shareholders and potential investors are advised to monitor these exchanges for any price movements or further announcements related to the buyback offer.

As the buyback window is relatively short, interested shareholders should ensure they are prepared to act within the specified timeframe if they wish to participate in the offer.

GHCL Limited , a leading soda ash manufacturer, reported its Q2 FY26 results, showcasing resilience amid challenging market conditions. The company's performance reflects the impact of global oversupply and pricing pressures in the soda ash industry.

Financial Highlights

Key Factors Affecting Performance

1. Market Oversupply: The domestic market continues to face oversupply conditions, primarily due to high volumes of cheap imports running at approximately 85,000 tons per month.

2. Pricing Pressure: Realizations declined by 9% year-on-year, reflecting the challenging pricing environment in the soda ash industry.

3. Planned Maintenance: GHCL completed a planned maintenance shutdown in late September, impacting production volumes in Q2.

4. Domestic Demand Growth: Despite challenges, domestic soda ash demand grew by 5% year-to-date, driven by various end-user sectors.

Strategic Initiatives and Future Outlook

1. Share Buyback Program: The Board has announced a ₹300 crore share buyback program under the tender offer route, demonstrating confidence in the company's long-term value and commitment to shareholders.

2. Diversification Projects:

   • Bromine and vacuum salt projects are progressing, with commissioning expected in Q4 FY26.
   • These projects are projected to contribute ₹70-80 crores in additional EBITDA with 40-45% margins.

3. Antidumping Duty: GHCL awaits Finance Ministry approval for antidumping duty recommendations on soda ash imports, which could potentially provide some relief to the domestic industry.

4. Greenfield Soda Ash Project: The project faces delays due to pending land clearances, although environmental approvals have been secured.

Management Commentary

R.S. Jalan, Managing Director of GHCL, commented on the results: "Our performance demonstrates resilience and the benefits of our structural operational efficiencies which helped us navigate significant pricing pressure seen across the industry. We remain optimistic about India's soda ash demand, which is directly tied to the country's robust growth story."

Market Outlook

The global soda ash market continues to face challenges, with China's domestic demand declining by 2% year-to-date. However, GHCL management expects accelerated growth in India, particularly from new applications like solar glass, which are anticipated to ramp up starting next year.

GHCL remains focused on cost competitiveness, customer serviceability, and strategic growth initiatives to navigate the current market challenges and create long-term sustainable value for its stakeholders.