MANAGEMENT DISCUSSION AND ANALYSIS 2016

DISCLAIMER

Readers are cautioned that this Management Discussion and Analysis contains forward-looking statements that involve risks and uncertainties. When used in this discussion, the words "anticipate", "believe", "estimate", "intend", "will", and "expected" and other similar exbrssions as they relate to the Company or its business are intended to identify such forward looking statements, whether as a result of new information, future events, or otherwise. Actual results, performances or achievements and risks and opportunities could differ materially from those exbrssed or implied in such forward looking statements. The important factors that would make a difference to the Company's operations include economic conditions affecting demand supply and price conditions in the domestic and overseas markets, raw material prices, changes in the Governmental regulations, labour negotiations, tax laws and other statutes, economic development within India and the countries within which the Company conducts business and incidental factors. The Company undertakes no obligation to publicly amend, modify or revise any forward-looking statements on the basis, of any subsequent developments, information or events. The following discussion and analysis should be read in conjunction with the Company's financial statements included herein and the notes thereto.

MANAGEMENT DISCUSSION AND ANALYSIS

The management of GHCL Limited brsents the analysis of division-wise performance of the Company for the financial year ended March 31, 2016 and its outlook for the future. This outlook is based on assessment of the current business environment. It may vary due to future economic and other developments, both in India and abroad.

REVIEW OF ECONOMY

Global economic growth has slowed down but has not really reversed the direction. The International Monetary Fund (IMF), in its January 2016 World Economic outlook, has projected global growth at 3.4 per cent in 2016, marginally going up to 3.6 per cent in 2017.

Amidst global uncertainty and economic slowdown, India has been variously hailed as "beacon of stability" and "bright spot". It is evident from the fact that India is the best performing large economy with a 7.6 per cent estimated growth rate for FY16. Both IMF and the World Bank in their January 2016 outlook, project India to grow at the highest rate among major economies in 2016 and 2017. Notwithstanding, the volatility seen in some of the vital data points (e.g., falling exports, low IIP numbers etc.), the growth trajectory remains on track. Importantly, such growth has been accompanied by macro-economic stability. Inflation has been under control and the balance of payment position looks healthy. Current Account Deficit (CAD) has narrowed to 1.4 per cent of GDP (Q2, FY16) from the high of 4.8 per cent in FY13. Capital flows have remained strong during the last few years.

As per the advance estimates released by the Central Statistical Office (CSO), the growth in GDP during 2015-16 was estimated at 7.6% as compared to the revised growth rate of 7.2% in 2014-15. As per CSO data, various sector such as financial, real estate, professional services, trade, hotels, transport, communication and services related to broadcasting are likely to register growth rate of over 7%. The growth in agriculture, forestry and fishing sector has been estimated to be 1.1%, mining and quarrying at 6.9 percent, and construction at 3.5 percent and manufacturing at 9.5 percent in 2015-16.

According to Economic Survey 2015-16, the current account deficit has declined and is at comfortable levels; foreign exchange reserves have risen to US$351.5 billion in early February 2016, and are well above standard norms for reserve adequacy.

Last Year Government had launched many schemes which are being considered as successful initiatives like 'Swatch Bharat' or 'Make-in India' or 'Skill India' or 'Digital India' or 'Jan Dhan Yojana' or 'Mudra Yojana' or 'Jan Suraksha Schemes' or 'Startup India' or efforts for ease of doing business in India and have given a powerful boost to Indian Economy. Government has made the revival of Indian manufacturing a top priority, reflected in its "Make in India" campaign and also "Skill India" initiatives.

Government has also facilitated increasing FDI caps in many sectors. The Government has taken significant step in revival of the hitherto stagnant mining sector (including the coal) in the country. The process of auction for allotment has shown greater transparency and boost revenues for the States. Factors like the steep decline in oil prices, plentiful flow of funds from the rest of the world along with government's commitment to calibrated fiscal management augur well for the growth prospects and the overall macroeconomic situation.

The Union Budget also attempts to strike a balance between growth by boosting infrastructure investments (i.e. road, rail etc.) and development through increases in allocations to agriculture and rural development. Hence, the Budget has clearly focused more on agriculture and rural India, which could create additional demand that is required for reviving growth.

Also Budget stuck to the fiscal deficit target of 3.9 percent of GDP in FY 2015-16 and 3.5 percent of GDP in FY 2016-17. Liquidity conditions have remained broadly balanced so far during 2015-16. However, increasing level of non-performing assets (NPA) are a key concerns of the banks in India. The fiscal sector registered three striking successes: ongoing fiscal consolidation, improved indirect tax collection efficiency; and an improvement in the quality of spending at all levels of government. The one significant upside possibility is a good monsoon, which would increase rural consumption and, to the extent that it dampens price brssures, open up further space for monetary easing.

COMPANY PERFORMANCE- PERFORMANCE HIGHLIGHTS

• Revenue for the financial year ended 31st March 2016 has increased by around 7.53 % to Rs. 2564.38 Cr. as against Rs. 2384.87 Cr. for the brvious Financial Year ended 31st March 2015.

• Profit before financial expenses and debrciation for the financial year ended 31st March 2016 has risen by around 19.05 % to Rs. 635.30 Cr. as compared to Rs. 533.64 Cr. for the brvious Financial Year ended 31st March 2015.

• PBT (Profit Before Tax) for the financial year ended 31st March, 2016 is higher by around 46.70 % at Rs. 378.41 Cr. against Rs. 257.94 Cr. for the brvious Financial Year ended 31st March 2015.

INORGANIC CHEMICALS (SODA ASH) GLOBAL SODA ASH INDUSTRY

DEMAND-SUPPLY SCENARIO

DEMAND

World Soda Ash production in 2015 was around 58 Million Tons against a production capacity of approximately 67 Million Tons. Global demand for Soda Ash was around 57 Million Tons which grew at around 2% over the last year. Of the total Global Capacity of Soda Ash, approximately 75% is derived from Synthetic processes, while 25% is produced naturally, principally from deposits of the mineral, trona. Glass markets, which account more than half of global demand, are expected to remain the dominant end use for soda ash, while chemicals and detergents will also remain important downstream consumers.

Synthetic Soda Ash - here to stay

Although naturally produced soda ash has some cost benefits over synthetic material, there is not sufficient supply of natural soda ash to cater to the entire global market. Synthetic soda ash accounts for around three quarters of global consumption and is, therefore, here to stay.

Globally there is no major mismatch expected between Demand and Supply in soda ash industry, thereby giving it reasonable stability.

SUPPLY

Turkey will be the new major player in the Global Soda Ash market, with locally-based Ciner Group due to add a further 3 Million Tons of soda ash capacity in coming years with new natural soda ash plants at Beypazari and Karzan already under construction. Additionally they have acquired a 38% shareholding in uS-based OCI Wyoming. This will make Ciner the second largest soda ash producer in the world, after Belgium's Solvay SA (which is expected to have a nameplate capacity to produce 7.45m tpa soda ash in 2018).

Demand in Turkey is expected to grow by around 10% this year. As Turkish soda ash output rises, to a level where the country can increase exports at the same time as meeting growing internal demand, it is likely to become the supplier of choice for many European countries due to cost competitiveness. It is expected that during this phase, Turkey shall exert brssure on the high cost European manufacturers. Some surplus volumes are also expected to compete with China/uS volumes in South East Asia and the Middle East.

Despite major economic challenges, China continues to be the largest Soda Ash player in the world, having a capacity of 32.00 Million MT, which is 48% of the global capacity. In 2015, China reported a production of 26 million tons and domestic consumption of 24 million tons, the balance 2 Million MTs is exported. Out of this 2 Million, China exported approximately 18% to Indian Subcontinent and balance to North & South East Asia, Middle East and Africa. Their natural export markets are Bangladesh, Thailand, South Korea, Philippines, Vietnam, Indonesia and India. It has however been observed that on account of the brssure faced by the domestic industry due to unhindered capacity expansions in the past, China has in fact significantly slowed down additions to Capacity in a hope of creating a balance in the industry.

USA which produces natural soda ash has a capacity of 12.70 Million MT and they produced 11.5 million tons of soda ash. The US production is stated to have de-grown by 1.2% in 2015 where as domestic demand for soda ash saw a modest growth of 1% versus 2014. The total domestic consumption was estimated at around 5.16 million tons and they exported 6.4 Million tons recording 4.1% negative growth from last year. 50% of their exports are to North & South America which is their natural market. Their export to Indian Subcontinent is only 2%.

INDUSTRY OUTLOOK

Global

The world estimated 2015 distribution of soda ash by end use is as under;

Glass 50%

Detergent & Soap formulations 16%

Chemical 10%

Alumina /Metals and mining 6%

Pulp & Paper 1%

Others (Environmental Protection/ Effluent treatment etc ) 17%

Domestic

The Indian estimated 2015-16 distribution of Soda Ash by end use is as under;

Detergents 44%

Glass 30%

Chemical 11%

Silicate 10%

Others (Trade) 5%Glass

INDIAN SCENARIO

The Indian market for soda ash has the greatest potential to expand in the near term with positive outlook of country's relatively robust economy, its gap in housing and it's rapidly expanding liquor and automotive industries - all of which are expected to support glass demand. Indian soda ash consumption currently stands at around 2.5 Kg per capita, compared to around 20 Kg per capita in the uS, illustrating ample room for growth. The Indian economy has not just managed to remain afloat but also performed well with GDP growth of +7%.

We estimate that Indian Soda Ash demand in 2015-16 is at 3.4 Million tons. All consuming segments including Detergents and Flat Glass recorded a healthy rebound, only Container Glass and Chemical segment continues to be low key.

As per domestic industry historical trends, the Indian Soda Ash demand is expected to grow by around 4 to 5% annually.

Our market estimate indicate that downstream demand growth is gradually improving and 2016 is expected to be better than 2015. India's GDP growth in real terms is slated to be better in the coming Financial Year with the projection of a better than normal monsoon. It is expected that downstream sectors like Detergents and Glass should be much more stable this year. A more stable economic outlook would help generate consumer confidence and therefore facilitate higher spending - both urban and rural, leading to a better outlook for Soda Ash.

Total Soda Ash installed capacity in India is 3.1 Million MT, with an estimated production of about 2.7 Million MT in last financial year (2015-16). Going forward GHCL is executing an expansion of 1 lac tons to come on line in March 2017. Nirma is also doing an expansion of 1.5 lac tons by December 2016. RSPL (Ghari Group) has also announced setting up a Soda Ash plant with capacity of 5 lac tons. It is expected that domestic demand growth will lead to absorption of these expansions.

GHCL SODA ASH BUSINESS

GHCL Limited is a leading Indian producer of soda ash is wellpoised to tap opportunities in both the Detergents & the Glass industries. The total soda ash business contributes about 60 % of total Indian Standalone revenue.

In India the company has a significant advantage in maintaining tight control on cost of soda ash due to major captive source on some of the raw materials - Salt, Limestone & Lignite.

GHCL shares highly successful client relationships and is the brferred supplier to all major soda ash consumers; its clients include Hindustan Unilever Limited, Ghari Group, P&G, Fena Group, HNG Group, Gujarat Guardian Limited, Gujarat Borosil Limited, Piramal Glass Limited, St Gobain Glass, Gold Plus Glass, Phillips and Patanjali Ayurveda Limited.

OPPORTUNITY AND CONCERNS

The Indian industry suffers from the weaknesses of concentration of 95% capacity in Gujarat and the cost of transport to markets in South and East India, which constitutes about 25% of the National consumption, is high as compared to the ocean freights to South and East India where product is imported from US/ China/Kenya and Europe. Currently around 23% of the Indian demand is being met by cheap imports.

GHCL has been able to maintain a domestic market share through a combination of market development, pro-active Direct Customer Relationship management Satisfaction Initiatives (CSI) and the speedy response to the needs of the market place.

TEXTILES - OUTLOOK & GROWTH

Global trade in textile is currently at 766 Billion USD, growing at CAGR of 4% and expected to grow by around 5% per annum over next decade and expected to reach $ 1.30 trillion mark

by 2024. India accounts for approx. 4.7% of the share in world textile market. Indian Textile industry is about 100 Billion USD both domestic and exports put together , and expected to grow @ 10% CAGR in next seven years as compared to world textile and clothing trade of around 5%. In next 7 years India's share in world export will increase to around 8% from current share of approx. 5%.

The Global Home Textile market is estimated at around US$ 45 billion at the wholesale level. The major consuming counties are US and Europe each constituting around one third of world demand. India, China and Pakistan are the major exporters in this segment accounting for nearly 50% of the world trade.

These three countries account for more than 85% of Home Textile Exports to US market. Which is not the case for Europe as other countries like Bangladesh and Turkey enjoy duty free status for European market. In US market, India's share of Sheet market have grown from 27% in CY 2009 to 47% in CY 2014 as per data released by the Office of Textile and Apparels

The Indian textiles industry is the second largest employer after agriculture, providing employment to over 45 million people directly and 60 million people indirectly. The Indian Textile Industry contributes approximately 5 per cent to India's gross domestic product (GDP), and 14 per cent to overall Index of Industrial Production (IIP). India is emerging as biggest exporter of Home Textiles capturing around 47% Market share in United States of America which is second biggest market for home textiles. The Indian Textiles Industry is the 2nd largest only after China. The Industry plays a major role in the economy of the country. India has improved its ranking as per the recent data released by 'UN Comtrade' in Global Textiles as well as Apparel Exports. In Global Textiles Exports, India now stands at second position beating its competitors like Italy, Germany and Bangladesh Further, it also contributes about 17% of the country's total export earnings. There are 2500 weaving factories and 4125 textile finishing factories across the country.

Textile industry has been growing at 10% over last several years. Government of India has provided a number of export promotion policies for the Textile sector. In addition, States of Gujarat, Maharashtra, Madhya Pradesh have special incentive for textile industry. With Indian Textile industry looking to grow to 140 billion mark by 2025, there are going to be huge opportunities in future for growth in this industry.

GHCL - TEXTILES

GHCL Limited is one of the largest integrated textile manufacturers in the country with an installed spinning capacity of around 1.75 lakh spindles and 3320 Rotors (Open End) manufacturing 100% cotton and polyester cotton blended yarns, 162 Air Jet looms, 36 million meter of wide width processing capacity, and 600 stitching machines for manufacturing world class quality merchandise. We have state-of-art plant at Vapi, Gujarat that integrates weaving, processing and cut & sew facilities. Our Spinning units in South of India are considered to be most efficient and modern yarn manufacturing facility in India. Excellent product development capabilities has put GHCL in forefront of major markets internationally, mainly North America, Australia, Middle East, UK and Europe. GHCL have also started to focus on domestic market and working with major retail brands for domestic market.

Overall in the Textile Business of the Company has posted robust performance this year, which is despite the fact that the Spinning Industry went through troubled times during the year. The Made-ups (Home Textiles) Business operations have done considerably well mainly due to strong customer relations, product portfolio and consistent supply of quality material. This has led to increase in Capacity utilisation to 83% as compared to 70% last year.

The Revenue of Textiles division is at Rs. 1069 Cr. during the financial year 2015-16 against Rs. 965 Cr. in 2014-15. We are glad to inform that there is significant improvement in the margins over last year. This has been made possible due to higher Capacity utilisation, our relentless customer focus which has enabled us to successfully strengthen our export markets and thus resulting in securing large replenishment orders from the big Global Retailers in US and Europe like Bed Bath & Beyond, Target, HBC Canada, Sears Canada, K-Mart, Ross Store, TJX Group, QVC, House of Fraser and Miles Home Fashions etc. Market sentiment in US looks better and the Company is focusing on US market with large volume programs. We strongly believe that our focus on customer realignment along with innovative designs, enhanced product basket with tie ups with Private labels shall provide a further impetus to both topline and margin improvement. However, fluctuations in the cotton price and quality of cotton have also become a big concern in this year. Due to adverse weather and whitefly infestation crops have been damaged. However, going forward, we expect an increase in demand for yarn as well as prices. Your company is taking effective steps to bring down the Power cost; 12.6 MW new Wind mills installed will meet 55% of power needs in spinning.

OPPORTUNITIES, THREATS AND RISK MITIGANTS:

India's competitive edge in uS Market over Pakistan and China is likely to improve further. With growing urbanisation and organised retail Indian textile industry shall gain momentum with growth in domestic market as well. Technological advancement along with favourable Government policies should act as a Catalyst in Textile Sector Growth.

India is still not a brferred supplier in Europe due to differential duty over Pakistan, Vietnam and Bangladesh. Availability of skilled labour continues to haunt the industry. However with Government's "Skill India" initiative, we expect that the problem shall get resolved to great extent. Crude has touched its bottom during last year and is now showing a reversing trend. Increase in crude prices can impact the cost. This can also result in greater degree of forex volatility. However apbrciation of Dollar would benefit the export volumes. We are actively interacting with experts to understand foreign exchange fluctuation and take appropriate and timely steps to minimize its impact on GHCL.

INTERNAL CONTROLS AND RISK MANAGEMENT

GHCL has adequate and proper system of internal controls commensurate with its size and business operations at all plants, divisions and the corporate office to ensure that its assets are safeguarded and protected against loss from unauthorized use or disposition and that transactions are reliably authorized, accurately recorded and reported quickly. The company has appointed outside internal audit agency to carry out concurrent internal audit at all its locations. The scope of its internal audit program is laid down by the Audit Committee of the Board of Directors. The Audit Committee meets periodically to discuss findings of the internal auditors along with the remedial actions that have been recorded or have been taken by the management to plug weakness of the system. Risk Management and internal audit functions complement each other at GHCL. The company strives to adopt a de-risking strategy in its operations while making growth investments. This involves setting up and monitoring risk on a regular basis.

In addition to the above, the Company had voluntarily constituted a Risk Management Committee in line with the requirement of Regulation 21 of the Listing Regulations. The Company applies Risk Management in a well-defined, integrated framework, which promotes awareness of risks and an understanding of the Company's risk tolerances. The Risk Management Committee monitors the internal control system, designed to identify, assess, monitor and manage risks, associated with the Company.

HUMAN RESOURCE DEVELOPMENT IN GHCL

The Company had 3106 employees on its permanent roll on 31st of March 2016, each committed towards playing their roles and discharging given responsibilities to enable the organisation to meet its objectives. The prime advantage of this company has always been its human capital. Employees of GHCL, apart from accomplishing their functional activities, are always willing to take an extra step to bring in process improvements, innovation and creativity at work place as well as better cost and time management. Upholding this trait, during the year 2015- 16 also, GHCLians were successful in completing many project and process initiatives leading to higher work efficiency in the organisation. The organisation has, continuing its efforts to improve the employability of its people, also ensured to provide all avenues to learn and experiment, also bringing in, through the process, greater job satisfaction and motivation among the workforce.

The company has been pursuing its culture of transparency, creativity and empowerment as it believes that the best in people can be brought out only if they feel free, empowered and encouraged. In year 2015-16 also the HR function started many initiatives in promoting this culture and one of the most important step in that direction was the announcement of the Compensation philosophy. The Company firmly believes that Compensation & benefits help in attaining a competitive advantage in market through supporting a behavior unique to it. So the compensation philosophy mainly focuses on "Pay for Performance - Pay for Behavior: fairly & competitively by adopting tools & techniques that help in achieving it" with a commitment to reward its Top Performers significantly. Under this initiative the Company gives due importance to the Performance in general, which will be assessed on elements, as driven by new Mission & Vision of the company. Apart from this, the Compensation decisions will also be based on the behaviour of the employee viz a viz the culture and values of the company.

HR also played a pivotal role during the year in the propagation of the new Mission and Vision of the company. The Mission and Vision was rolled out through different mediums in order to create a clarity and alignment in the minds of all the employees of GHCL. On the organisational values, in year 2015-16 too, the company spared no measures in upholding them in all its thoughts, activities and transactions internally or in dealing with its external stakeholders or the society in general. The four core values, Respect, Ownership, Trust and Integrated Teamwork have been the guiding principles for the HR function also while conducting all people related operations and these values have contributed tremendously in creating a unique organisational culture and corporate identity for GHCL. In line with the practice that was started brvious year, the employees who exhibit the core values in their behaviour are identified as Core Value champions and are rewarded suitably. Going further, this year, the organisation has started assimilating feedback from external business associates, i.e. its customers and vendors on GHCL core values as well.

With regard to addressing the training and development needs of employees in general, during 2015-16 also, various training programs were organized on the basis of the 8 competencies that were identified as vital for the success of the organisation and, such programmes will continue to be provided in the coming years also since it will be an ongoing process. For providing such programmes, the HR Function identifies the best faculty and training agencies based on their credentials and experience in delivering successful programmes in similar organisations.

According to the analysis of the feedback received from the participants, the effectiveness of training faculties, who had conducted programmes in the organisation has been excellent, which translates in to meeting the desired objectives.

Apart from this, a new initiative was taken up by HR under the name of VIKAS or earn your training. Under this initiative, the employees are encouraged to participate in some activities that go beyond their job role. By participating in these activities the employees not only build their competencies but also earn some points that can be redeemed by them to attend a training program of their choice.

As per the ongoing practice, during the year 2015-16 also, the HR function undertook organisation-wide surveys on Core Value Adherence and Employee Engagement to basically ascertain the impact of various ongoing developmental HR and OD initiatives. It was based on such findings, the above mentioned Core Value Champions were identified and apbrciated.

While Corporate Social Responsibilities are being discharged in a big way by the specific team established under the GHCL Foundation Trust, during the year 2015-16 the HR Function also organised few medical camps for eye check-up, blood donation, etc. volunteered by the employees to benefit the society in general as well as to re-inforce the social commitment of employees as individual citizens of the Country. During the year company has also provided short term training opportunities to students pursuing various professional courses enabling them to have valuable industrial exposure.

Many other programmes for employee rejuvenation and creating stronger inter-personnel relations, team building as well as aimed at further strengthening the bonding across all divisions and locations of the company were organised in year 2014-15 also. These programmes help employees significantly in leading a balanced work life in the organisation.

GHCL's HR Function remains open to adopting new and innovative HR functions which have been proved effective in successful organisations or develop such initiatives on its own to maintain company's human capital as willing and competent to contribute towards achieving its business objectives. The human resources strategy is always kept aligned with the long term business strategy of the organisation and almost all HR initiatives are developed keeping that aspect in mind. To sum up, the human resources function has been, during the year 2015- 16, able to provide strategic HR support to the organisation as well as the individual employees in a very effective way. The HR function is committed to improve all its processes based on the results and feedback and ensure that its manpower will remain its greatest asset.

CSR Initiatives

GHCL endeavors to make a positive contribution to surrounding communities by supporting a wide range of socio-economic, educational and health initiatives for last few years by structure way. We make sure that communities benefit from our company's brsence by pro- actively responding to their needs. Through our programs, we aim to bring about overall development and a perceptible change in the lives of the communities we are associated with.

GHCL Foundation Trust supports more than 77 villages like 55 villages of Gir Somnath District (Three blocks Sutrapada, Veraval and Talala) around GHCL's soda ash and limestone mining operations, 17 villages of Salt operation in Amreli District (Rajula, Jafrabad & Kodinar of Gir-Somnath), 02 villages of Bhavnagar Lignite mining area and 03 villages of Textile Division Valsad District (umbergoan block).

GHCL Limited under its CSR efforts has implemented need based development programs in sectors of health, education, sanitation and drinking water, sustainable livelihoods, enterprise development and community institution building.

Our programs in education, which provides free alternet education to children at mining site schools and Learning enhancement centers. The learning enhancement programs which improve student learning levels and extending scholarships to children are helping migrant and disadvantaged children to avail of better quality education. Also we targeting 10 primary schools, 18 Anganwadis and 2 High schools under "Vidhya Jyot" project with aiming to Support Pre-primary education to High school education through parents awareness, Teacher training, dropout monitoring and counseling to enhanced quality education. Our remedial education program for academic weak students has been implemented very well in 10 Govt. Schools of Amreli distric and it has given the very good result in "Gunotsav" an evaluation program of Gujarat Govt.

The regular health camps organised by GHCL, the Sunday Clinic and the Mobile Medical Unit has made high quality and affordable health care available to at the doorstep of communities. In addition to conducting exposure visits and crop demonstrations for farmers, providing drip and sprinkler irrigation technologies, distributing and promoting the use of organic manure, this year we partnered with Cotton Connect to enhance the scale and productivity of cotton farming in the region. Our partnership with CSPC and WASMO for the Coastal Area Development Program (CADP) II has made sanitation and drinking water facilities a reality for rural communities and has helped to create water distribution systems in villages. In 2014-15, we established 02 Vocational Training Institute at Port Victor (Salt division) to improve skills and capabilities of the youth around our industrial brmises and Bhilad (Textile Division).

We have partnership with Sir Ratan Tata Trust (SRTT) for multiple activities. SRTT has accredited only two partners in Gujarat for innovation work promotion and we are one of them. SRTT has experimented ATM -RO system only with us for drinking water for villager of Coastal villages. We have piloted SIM Bio-gas (New technology, Netherland based) with coloration of coastal salinity brvention cell. We installed three Biogas plants and research going on by FINISH organization. Our Vocational Training Centre, Bhilad has affiliated under ISDS program of Ministry of Textile through CED, Gujarat.

A recent external impact assessment on GHCL's CSR interventions has revealed three major areas of impact. These include Community Well-being though varied development programs, Improvement in natural resources and environment and Strengthened relationships with surrounding communities and employees through increased faith in the company.

We have been working to increase the reach and impact of our efforts in partnership with esteemed organisations and community stakeholders. The work at GHCL Foundation takes an integrated approach to improve living conditions for communities and create a solid foundation for their future.