Ganesh Benzoplast Limited, a leading chemical and infrastructure company, has announced its financial results for the first quarter, showcasing robust growth across key metrics. The company's board also approved significant changes to its leadership team.

Financial Performance Highlights

Ganesh Benzoplast reported a strong start with consolidated revenue reaching Rs. 956.00 crore in Q1, marking a 9% increase from Rs. 875.00 crore in the corresponding quarter of the previous year. The company's consolidated profit after tax also saw a healthy rise of 10%, climbing to Rs. 181.00 crore from Rs. 164.00 crore year-over-year.

The Chemical division emerged as a standout performer, with its turnover surging by 26% to Rs. 494.00 crore. More impressively, the division's profit before tax skyrocketed by 223% to Rs. 71.00 crore. This remarkable growth is attributed to strategic plant system upgrades and improved raw material procurement policies, which have resulted in better yields and enhanced cost-effectiveness.

Reflecting the company's overall positive performance, the consolidated earnings per share (EPS) grew by 11% to Rs. 2.52, up from Rs. 2.28 in the same period last year.

Board Appointments and Corporate Governance

In a move to strengthen its leadership and comply with regulatory requirements, Ganesh Benzoplast's Board of Directors made two key appointments:

1. Ms. Amruta Pankaj Thali has been appointed as an Additional Director in the capacity of Independent Woman Director. Her term will span five years, from August 11, 2025, to August 10, 2030, subject to shareholder approval. Ms. Thali, who holds a B.Sc. LLB degree, brings four years of valuable experience in the legal field to the board.

2. Mr. Niraj Nabh Kumar has been re-appointed as a Non-Executive Independent Director for a second five-year term, from September 26, 2025, to September 25, 2030, pending shareholder approval. Mr. Kumar, a retired Indian Revenue Service officer with extensive experience in operational and strategic planning, brings a wealth of expertise in infrastructure development and regulatory compliance.

Annual General Meeting

The company has scheduled its 38th Annual General Meeting for September 25, 2025. In line with modern corporate practices, the meeting will be conducted via video conferencing, with e-voting facilities provided to shareholders through CDSL.

Ganesh Benzoplast's strong Q1 performance and strategic board appointments position the company for continued growth and enhanced corporate governance in the coming years.

Ganesh Benzoplast Limited, a prominent player in the Indian chemical industry, has successfully obtained a court order addressing a fraudulent loan case involving ₹7.03 crore. The company's swift legal action demonstrates its commitment to protecting its financial interests and maintaining its reputation in the market.

Court Order Details

The Hon'ble Bombay City Civil Court at Mazgaon has issued an interim injunction and stay order in response to Ganesh Benzoplast's petition against Lok Sewak Leasing and Investment Private Limited and others. The order provides significant relief to the company and its wholly-owned subsidiary, GBL Chemical Limited.

Key Points of the Case

• Fraudulent Loan: The case revolves around a purported loan transaction of ₹7.03 crore, where Ganesh Benzoplast and GBL Chemical were falsely named as borrowers.
• Forged Documents: The company alleged that the loan was based on fabricated and forged documents, including fake board resolutions and forged signatures.
• Prompt Action: Upon discovering the fraud committed by Mr. Ramakant Pilani and others, Ganesh Benzoplast immediately initiated legal proceedings.

Court's Findings and Reliefs Granted

The Hon'ble Court, after hearing both parties and reviewing evidence from various investigations, has granted the following reliefs:

1. A temporary injunction restraining Lok Sewak, CIBIL (Credit Information Bureau India Limited), and other defendants from acting on the purported forged documents.
2. A temporary stay on the effect and operation of the alleged forged documents.
3. A mandatory injunction ordering CIBIL to restore GBL Chemical's credit score to its status prior to the unauthorized transactions with Lok Sewak.

Impact on the Company

• Financial Implications: The company has stated that there are no expected financial implications due to compensation or penalties arising from this case.
• Credit Score Protection: The court order ensures that GBL Chemical's credit score will be restored, mitigating potential damage to its financial standing.
• Corporate Governance: This legal victory underscores Ganesh Benzoplast's commitment to transparent and ethical business practices.

Looking Ahead

The interim order marks a significant step in Ganesh Benzoplast's efforts to address the fraudulent loan case. As the legal proceedings continue, the company remains focused on its core operations while vigorously defending its interests against unauthorized transactions.

Investors and stakeholders will likely view this development positively, as it showcases the company's proactive approach to tackling financial fraud and protecting its assets.