Ganesh Benzoplast Limited (GBL) has reported a robust performance for the first quarter, with consolidated revenue rising 9% year-on-year to INR 956.00 crore. The company's chemical division emerged as a standout performer, while its core liquid storage terminal (LST) business faced temporary challenges.

Financial Highlights

• Consolidated revenue increased 9% to INR 956.00 crore from INR 875.00 crore in the same quarter last year
• Consolidated profit after tax grew 10% to INR 181.00 crore
• Earnings per share rose 11% to INR 2.52

Chemical Division Shines

The chemical division demonstrated exceptional growth:

• Turnover increased 26% to INR 494.00 crore
• Profit before tax surged 223% to INR 71.00 crore

This remarkable performance was attributed to plant upgrades and improved raw material procurement policies, resulting in better yields and cost-effectiveness.

LST Business Faces Temporary Setback

The company's liquid storage terminal business experienced a slight decline:

• Rental income decreased 8% due to extensive maintenance work at the JNPT terminal during April-June
• Management expects 5-6% annual rental growth going forward

Strategic Developments

1. LPG Terminal Project: The joint venture with BW for an LPG terminal has been called off after BW decided to focus on their core shipping business. GBL retains the 11-acre land at JNPT and is evaluating options for liquid storage or scaled-down LPG facilities.

2. JNPT Land Lease: GBL is in the process of renewing its lease at JNPT for another 30 years. While lease costs are expected to increase, the company plans to pass these on to customers over time.

3. Morgan Legal Case: The long-standing Morgan legal case has been settled and closed, removing a significant overhang for the company.

4. Future Plans: By the end of the current quarter, GBL plans to finalize its strategy for utilizing the remaining land at JNPT, considering options such as liquid storage, LPG, or ammonia facilities.

Management Commentary

Rishi Pilani, Chairman and Managing Director, stated, "We are pleased with the strong performance of our chemical division, which has shown consistent growth over the past five quarters. While our LST business faced temporary challenges due to maintenance activities, we expect it to recover in the coming quarters."

He added, "With the resolution of the Morgan case and the ongoing evaluation of our JNPT land utilization, we are well-positioned for future growth. We are carefully assessing market demands and potential partnerships to make the best use of our assets."

Looking Ahead

As Ganesh Benzoplast Limited moves forward, the company is focusing on:

1. Finalizing plans for the unutilized JNPT land
2. Continuing to improve efficiencies in the chemical division
3. Exploring potential strategic partnerships or demerger options for the chemical business
4. Implementing the renewed JNPT lease terms
5. Considering dividend payouts for shareholders in the current financial year

With its strong financial performance and strategic initiatives underway, Ganesh Benzoplast Limited appears well-positioned for continued growth in the coming quarters.

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.