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GOCL Corporation Limited
Media GOCL Consolidated Net Profit Rs. 10 Crores up by 3 times

GOCL Consolidated Net Profit Rs. 10 Crores up by 3 times


  • GOCL Consolidated Net Profit Rs. 10 crores up by 3 times
  • Consolidated YTD Net Proft up 9% of at Rs. 23.24 crores

Mumbai, February 9, 2018 : GOCL Corporation Limited, a Hinduja Group Company, has reported a Consolidated Gross Income of Rs. 140 crores ( previous year Rs. 168 crores ) for the Q3 of 2018 and consolidated net profit of Rs. 10.05 crores ( Rs. 3.33 crores ) on account of higher production and value engineering at all locations inspite of lower product realizations. Consolidated Net Profit for the nine months ended Rs. 23.24 crores ( Rs. 21.32 crores ).

On a standalone basis, GOCL turnover for the quarter was Rs. 28 crores with a net profit of Rs. 5.75 crores ( Rs. 5.69 crores ).

Division wise performance and highlights are as under:


The turnover of the Energetics Division in Q3 was Rs. 22 crores including Export turnover of Rs. 7.4 crores. Sales of non electric and electronic accessories which increased during Q3 led to better contributions inspite of general price reductions on an average of 10% since Q2. Introduction of new products are being planned to maintain contribution levels.

The wholly owned subsidiary, IDL Explosives Limited ( IDLEL ) achieved a turnover of Rs.106 crores and PBT of Rs. 5 crores in Q3.

Volume of Catridged products was 9,242 tonnes and Bulk products 25,443 tonnes. IDLEL has also received increase in licensed capacity approvals for 25,000 tonnes per annum for catridged products and 22,500 tonnes per annum for bulk products.

During Q3, the Company along with its subsidiary company has won major orders worth Rs 322 crores in a recently concluded tender floated by Coal India Limited for a period of 2 years for Bulk Explosives against Rs 267 crores in previous two years order. IDLEL has also received orders from NMDC for the next 2 years and Neyveli Lignite Ltd (NLC) for the first time for explosives.

Currently, the Company along with IDLEL has Rs.552 crores worth of orders on hand.


Ecopolis at Bengaluru

'Ecopolis' is a joint development with Hinduja Realty Ventures Limited ( HRVL ). The mixed-use commercial development is located in the growth corridor of Bangalore, North Bangalore. The over 38.15 acres techpark comprises of SEZ & commercial office space, which will be constructed in phases.

HRVL has completed Phase 1 construction of over 1.45 million sft comprising of office building Block 3 and Multi Level Car Parking space (MLCP) with a leasable area of over 7.64 lakh sft. All buildings in 'Ecopolis' are built to achieve LEED Certification. Block 3 is a LEED Gold certified building, which is ready for fit-outs and has also received Occupancy Certificate. This building has 3 levels of basement to accommodate client's car parking requirement with Ground floor & 10 upper floors. The MLCP consisting of 11 levels is designed as an infrastructure bank, which accommodates DG sets on the ground level, hybrid HVAC chillers on the terrace level and additional carparks in the remainder levels which will cater for three buildings in the campus.

The Company's share will be 30% of the 2.29 Lakhs sft. of office building in Block 3 and 4.06 lakhs sft. of MLCP.

Construction of the second building is in the final stages. Block 2 is a green building which is pre-certified LEED Gold rated with a constructed area of 1.06 million sft. Block 2 is under-construction and will be ready for fit-outs in Q2 2018. This building also has three levels of basement earmarked as parking to accommodate client's parking requirement with Ground floor & 10 upper floors.

Many international MNCs who are currently on a consolidation mode are in discussion for space in the project and also for large built-to-suit campus. Other than this, the developer is in discussion with clients for absorption of space in Block 3 and Block 2.

Kukatpally at Hyderabad

Hyderabad is emerging as better destination for commercial offices due to its infrastructure, availability of space in established commercial micro-markets and importantly price advantage.

The firm's 100-acre integrated mixed use township at Kukatpally which is currently accessible to all the hotspots of the city is gaining ground for IT/ITeS office space, retail segment, educational institutions, hotels, hospitals and residential spaces. Part of the scheme has been put up for approval.

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

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

Mrs. R. Chaudhry, Asst. General Manager - MDs Office, GOCL Corporation Limited, Hyderabad at 040 23700750.

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