Rs 2.57 billion order secured by GOCL Corporation from Coal India

06 Jun 2023 CW Team

Order is for supply of detonators, accessories, & cartridge explosives GOCL Corporation Ltd, a subsidiary of the Hinduja Group, announced that it has received orders worth Rs 2.57 billion from state-owned company Coal India Ltd. The orders pertain to the supply of detonators, accessories, and cartridge explosives and span a period of two years, from June 2023 to May 2025.

In its exchange filing, GOCL Corporation Ltd reported a notable growth in profit, with a 20 percent increase to Rs 2.11 billion compared to Rs 1.76 billion in the previous year. The company's consolidated revenue also experienced substantial growth, rising by 126 per cent from Rs 6.23 billion in the previous year to Rs 14.10 billion in FY23. Furthermore, the consolidated revenue for Q4FY23 surged by 85 per cent to Rs 3.02 billion, surpassing the Rs 1.63 billion recorded during Q4 of the previous year.

Additionally, GOCL Corporation Ltd's overseas subsidiary HGHL invested $24 million in 57 Whitehall Investment SARL, Luxembourg. This investment aims to transform the historic Old War Office (OWO) project, located in central London, into a super luxury hotel and upscale residential apartments.

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