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GOCL Corporation Limited
Media GOCL Consolidated 12 months ( F2016-17 ) Gross Income Rs. 632 crores

GOCL Consolidated 12 months ( F2016-17 ) Gross Income Rs. 632 crores


  • GOCL Consolidated 12 months ( F2016-17 ) Gross Income Rs. 632 crores
  • Consolidated Net Profit increases by 22% to Rs. 32.91 crores
  • Dividend Recommended @ Rs. 1.60 per share

Mumbai, May 29, 2017: GOCL Corporation Limited, a Hinduja Group Company, has reported a Consolidated Gross Income of Rs. 632 crores ( previous year Rs. 616 crores ) for the year ended 31st March 2017 and 22% increase in consolidated net profit of Rs. 32.91 crores. ( Rs. 26.94 crores ) The Consolidated EPS is Rs. 6.64 ( Rs. 5.43 ).

On a standalone basis, GOCL turnover was Rs. 104.47 crores ( Rs.107.53 crores ) with a net profit of Rs. 19.31 crores ( Rs. 17.61 crores ), an increase of 10%.

The Board of Directors of the Company has recommended 80% dividend of Rs.1.60 per share.

Division wise performance and highlights are as under:

Division wise performance and highlights are as under:


During Q4, the Energetics Division, which manufactures detonators and accessories, achieved sales of Rs. 28 crores ; and a cumulative income of Rs. 97.66 crores ( Rs. 75 crores ) and a profit of Rs. 7.08 crores ( Rs. 6.17 crores ) for the year, registering a growth of about 15%. The improved results was on account of better performance of domestic and export sales across all the product segments i.e. detonators, detonating cord, detonating fuse, pentolite boosters, cartridge explosives and value added products such as e-Dets.

The wholly owned subsidiary, IDL Explosives Limited, reported a turnover of Rs. 469 crores for the year ended 31st March 2017 ( Rs. 450 crores ). Profit Before Tax for the year is Rs. 24.25 crores ( Rs. 10.13 crores ), an increase of 139%.

The Company has won major orders in a recently concluded tender floated by Coal India Limited. It is awaiting release of the orders to be serviced over a period of the next two years.

The thrust in development of defence and space related products over 3 - 4 years have resulted in the Special Products Group emerging as a high quality supplier for specialized Defence items including high energy materials and critical energetic components for missiles. Transfer of Technology ( TOT ) from DRDO has been fully absorbed and further TOTs are envisaged. The Company is planning to increase its exposure to new Defence projects under the "make in India" initiatives.


The Mining and Infrastructure Division achieved service income of Rs 6.84 crores as against Rs. 20.17 crores in last year due to adverse market conditions and regulatory environment continuing since the past 2 years in the metal mining sector. In view of the market conditions, old and idle equipment have been disposed during the year. However, infrastructure section had continued to accept and execute orders. The Board is reviewing the emerging situation in mining projects and will be taking a suitable decision in this business area.


Ecopolis at Bengaluru

Ecopolis is the Companys foray into the Commercial Real Estate market. The Master Plan for the total development of 7.72 million sq.ft. has been sanctioned for the entire plot of approximately 39 acres, which will be developed in phases.

In the first phase of SEZ, Block 3, Multi Level Car Park ( MLCP ) which will cater to 3 blocks namely Blocks 3, 2 and 1, have been completed. Block 2 and subsequently Block 1 are being constructed on 14.2 acres of the plot area.

Block 3 and MLCP admeasuring 1.45 million Sq. ft. are complete with Occupancy Certificate. Block 3 is certified LEED Gold rated building and is ready for fit-outs. MLCP also houses MEP services such as DG sets, electrical panels, chiller plants - water and aircooled - which are placed on the terrace thus making the terraces of Block 3, 2, and 1 free for other usages.

Construction of Block 2 comprising of 1.06 million sq. ft. is in progress. The super structure along with 3 basements is completed. All major contract packages have been awarded and the facade work is underway along with Low side HVAC work, electrical works, elevators, and PHE works. Block 2 will be ready for fit - outs in Q1 2018 and is a pre - certified LEED Gold rated building. HRVL, the Developer, has applied for approvals for commencement of construction of Block 1 comprising of 0.63 million sq.ft. including 3 basements. Preliminary works for the same has commenced.

As the Northern Corridor of Bengaluru city is getting prominence and getting established, we have seen a good traction and response to Ecopolis during the last quarter and are working on 4 - 5 lead customers.

Apart from this, we have received keen interest and commercial offer from one of the leading Bengaluru based developers for out-right purchase of the Blocks along with future development on the SEZ portion of the balance land.

Given the land available for future development, any clients immediate and future office requirements can be offered within the campus with built-to-suit building(s). Campus-in-campus facility, that is a dedicated campus within Ecopolis are other possibilities under consideration. A few international clients are envisaging keen interest and actively considering this concept.

The Developer Company is closely working with consultants and local brokers in this regard. They have received clients' sale/lease and built to suit requirements and are working towards a positive conclusion.

Kukatpally at Hyderabad

Owing to its proximity to the IT hub in Hyderabad, the project will be an Integrated Mixed-use Township comprising of residential apartments, IT / ITeS office space, retail, healthcare, educational facilities and hospitality. Integrated new Master Plan for full 100-acre development has been reworked to suit present market conditions. Detailed design for Phase 1 of the development is currently being developed for obtaining statutory approvals.

For further information please visit www.gulfoilcorp.com or contact:

Mr. A.Satyanarayana, Company Secretary, GOCL Corporation Limited at 040 23811442

Mrs. R. Chaudhry, Asst. General Manager - MDs Secretariat, GOCL Corporation Limited, Hyderabad at 040 23700750, Mobile : +91 9849052064.

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Q3 Consolidated Income of Rs. 160 crores, increase of 15% and Net Profit 26%
H1 Consolidated Net Profit increases 5.6%.
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