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Earnings Call

Ganesh Benzoplast Earnings Call: Key Takeaways

Revenue grew 12% YoY, but EBITDA margins were severely hit by a 10x land rent reset at JNPT.

Highlights
Revenue growthConsolidated revenue up 12% YoY to ₹1,115 million.
MarginsMargins contracted due to ₹23 crore JNPT lease rent reset.
Demand visibilityJNPT at 100% capacity; Goa demand hampered by mining ban.
Management confidenceBalanced; focused on passing through massive rent hikes to customers.

Growth

Revenue increased to ₹1,115 million; PAT improved despite significant margin pressure from fixed costs.

Outlook

Capacity expansion of 50,000 KL by Dec 2025; targeting 5-6% organic revenue growth.

Risks

JNPT lease rent reset hit margins hard; Goa terminal utilization remains near zero.

Last quarter's promises, checked

Delivered

  • Revenue INR 1,053M → delivered INR 1,115M (= BEAT)
  • Chemical PBT INR 187M → delivered INR 187M (= BEAT)
  • Dividend payout start Q1 FY27 → confirmed for FY27 (= BEAT)

Partly delivered

  • Capex 100k KL expansion → 50k KL by Dec 2025 (= PARTIAL)
  • Pass-through of rent hikes → 15-18 month timeline (= PARTIAL)

Missed

  • EBITDA margin 50-51% → delivered hit by 10x rent reset (= MISS)
  • PAT INR 162M → delivered lower due to margin pressure (= MISS)
Source

Earnings Call filed with NSE, NSE: GANESHBE. Summary written with AI assistance from the document.

Read the document ↗

Ganesh Benzoplast Ltd: key numbers

Share price
₹130.84
Market cap
₹941.9 Cr
Revenue (annual)
₹411.4 Cr
Net profit (annual)
₹73.34 Cr
P/E (TTM)
12.9×Sector 37.5×
Promoter holding
39.02%+0.00% QoQ
FII holding
1.12%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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