Chemical stock in focus after Dolly Khanna sells entire stake in the company

Synopsis: Ace investor Dolly Khanna exited her 1.07% stake in GHCL Limited, selling 987,735 shares worth ₹46.82 crore within one year.

This Small-Cap Chemical stock, engaged in manufacturing soda ash, baking soda, and salt products, serving chemical industries and consumer markets across India, is in focus after ace investor Dolly Khanna sold his entire stake in the Company.

With a market capitalization of Rs. 4,358.14 crore, the shares of GHCL Limited were currently trading at Rs. 474.05 per equity share, rising nearly 3.63 percent from its previous day’s close price of Rs. 457.45.

What is the News?

Ace investor Dolly Khanna has completely exited her 1.07 percent stake in GHCL Limited by March 2026. She sold around 987,735 shares, valued at approximately Rs. 46.82 crore. Khanna had initially acquired this stake in March 2025, indicating a complete exit within a relatively short period.

In March 2026, GHCL Limited had a majority stake held by the promoters at 19.87 percent, foreign institutional investors at 24.66 percent, domestic institutional investors at 10.57 percent, and the public at 44.89 percent.

Capacity Expansion

GHCL Limited plans to invest about Rs. 300 crore in smart capacity expansion. The company is setting up a bromine unit with a capacity of 2,800 MT at its existing salt facilities, which is expected to give strong profit margins. It is also expanding vacuum salt production to 1.7 lakh tonnes by using extra energy at current plants, helping improve efficiency and output.

Further, the company is setting up a new salt plant at Zara Zumara in Kutch with a production capacity of around 17 lakh tonnes. The salt produced will be used within the company to support its chemical business. It also plans to expand soda ash capacity in two phases of 5.5 lakh tonnes each, along with a bromine project of 10,000 MT capacity, strengthening its future growth.

Company Overview

GHCL Limited was founded on 14 October 1983 and is a diversified company operating in chemicals and consumer products. It mainly produces soda ash and baking soda, which are widely used in industries like glass and detergents. In the consumer segment, the company manufactures and sells edible and industrial salt, along with jujube honey, under its brand I-Flo, making it a well-known player in India.

Recent Quarter Results

Coming into financial highlights, GHCL Limited’s revenue has decreased from Rs. 779 crore in Q3 FY25 to Rs. 757 crore in Q3 FY26, which is a drop of 2.82 percent. The net profit has also decreased by 36.90 percent from Rs. 168 crore in Q3 FY25 to Rs. 106 crore in Q3 FY26. GHCL Limited’s revenue and net profit have grown at a CAGR of 6.32 percent and 17.62 percent, respectively, over the last four years.

In terms of return ratios, the company’s ROCE and ROE stand at 24.2 percent and 18.6 percent, respectively. GHCL Limited has an earnings per share (EPS) of Rs. 53.3, and its debt-to-equity ratio is 0.03x.

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