Ganesh Benzoplast Limited (GANESHBE) AI Stock Analysis

• Market Cap: ₹5.43B
• Dividend Yield: N/A
• Average Volume (3M): 9.25K
• Price to Earnings (P/E): 11.5
• Beta (1Y): 1.02
• Revenue Growth: -12.30%
• EPS Growth: -26.40%
• Country: IN
• Employees: 201
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 3.30
• Shares Outstanding: 71,989,420
• 10 Day Avg. Volume: 10,439
• 30 Day Avg. Volume: 9,249
• PEG Ratio: -0.51
• Price to Book (P/B): 1.52
• Price to Sales (P/S): 2.18
• P/FCF Ratio: 51.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹77.00 ▼(-5.30% Downside)

Ganesh Benzoplast Limited's overall stock score reflects its solid financial performance and reasonable valuation. However, the bearish technical indicators and lack of dividend yield present challenges. The company's ability to address revenue and cash flow declines will be crucial for future growth.

Positive Factors

High Operating & Gross Margins

Sustained high gross and healthy operating margins point to structural pricing power and efficient manufacturing. In specialty chemicals, wide gross spreads and strong EBITDA margins provide buffer against raw-material swings and support reinvestment and profitability over multiple quarters.

Conservative Capital Structure

Very low leverage and a strong equity base give the company durable financial flexibility. This reduces refinancing risk, supports capex for terminal infrastructure, and allows management to withstand cyclical downturns without forcing asset sales or deep cost cuts.

Diversified, Dual Revenue Streams

A two-pronged model (specialty chemicals plus storage terminals) reduces single-industry exposure and smooths revenue volatility. Terminal services provide recurring, capacity-driven cash flows while chemicals offer higher-margin product sales, creating complementary long-term stability.

Negative Factors

Declining Revenue Trend

A year-over-year revenue decline of ~12% indicates persistent demand pressure or market share erosion. Reduced top-line scale can impair fixed-cost absorption, slow reinvestment, and make sustaining margins and growth initiatives harder without a clear turnaround plan.

Sharp Free Cash Flow Contraction

An ~81.5% drop in free cash flow is a material weakening of cash-generative capacity. Lower FCF constrains organic investment in terminals or R&D, increases reliance on external financing, and reduces ability to shore up working capital or pursue strategic opportunities long-term.

Moderate Return on Equity

ROE near 7% indicates only modest efficiency converting equity into returns despite strong margins. This suggests asset or capital under-utilization or slower commercial scaling, which can limit shareholder value creation and make funding growth through retained earnings less effective.

Ganesh Benzoplast Limited Business Overview & Revenue Model

Company Description

Ganesh Benzoplast Limited manufactures and sells specialty chemicals, food preservatives, and industrial lubricants in India and internationally. The company operates through two divisions, Liquid Storage Terminal (LST) and Chemical. The LST division provides storage tanks for storing liquid chemicals, oil products, petrochemicals, biofuels, and vegetable oils. It offers storage and handling solutions. The Chemical division provides sodium benzoate, benzoic acid, and benzoplast. It also engages in bunkering, barging, blending, and drum filling services. The company serves food and beverage, paints, automobile, pharmaceutical, lubricants industries, etc. Ganesh Benzoplast Limited was incorporated in 1986 and is based in Mumbai, India.

How the Company Makes Money

Ganesh Benzoplast Limited generates revenue through multiple streams, primarily from the sale of its specialty chemical products and storage tank solutions. The company's revenue model is built on product sales to various industrial clients across sectors such as automotive, construction, and consumer goods. Significant revenue is derived from long-term contracts with major corporations, providing a steady income stream. Additionally, GANESHBE benefits from partnerships with suppliers and distributors that enhance its market reach and product availability. The company also invests in research and development to innovate and expand its product offerings, which helps in maintaining a competitive edge and attracting new clients.

Ganesh Benzoplast Limited Financial Statement Overview

Summary

Ganesh Benzoplast Limited exhibits solid profitability with strong profit margins and a stable balance sheet. However, the decline in revenue and free cash flow growth suggests potential risks that need to be addressed for sustained long-term growth.

Income Statement

Ganesh Benzoplast Limited has demonstrated solid profitability with a Gross Profit Margin of 71.7% and a Net Profit Margin of 10.2% for the most recent year. The company has faced a decrease in total revenue from the previous year, indicating a challenging environment or increased competition. However, the EBIT and EBITDA margins remain robust at 22.9% and 21.7% respectively, showcasing efficient operations despite revenue challenges.

Balance Sheet

The company's balance sheet reveals a strong equity position with an Equity Ratio of 74.4%, indicating financial stability. However, the Debt-to-Equity Ratio stands at 0.12, which is manageable. The Return on Equity is 7.1%, suggesting moderate efficiency in generating returns from shareholders' equity.

Cash Flow

Ganesh Benzoplast has shown variability in cash flow metrics. The Operating Cash Flow to Net Income Ratio is positive at 1.44, indicating strong cash generation relative to net income. However, the Free Cash Flow has decreased significantly, evidenced by the Free Cash Flow Growth Rate of -81.5%, suggesting potential challenges in cash management or increased capital expenditures.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.82B	3.74B	4.77B	4.21B	3.58B	2.70B
Gross Profit	2.96B	2.68B	2.44B	1.26B	2.00B	1.71B
EBITDA	858.69M	812.46M	1.09B	956.26M	631.10M	750.46M
Net Income	397.89M	380.86M	614.41M	550.79M	326.89M	218.85M
Balance Sheet
Total Assets	0.00	7.24B	6.77B	5.33B	3.98B	3.78B
Cash, Cash Equivalents and Short-Term Investments	1.02B	1.02B	986.73M	391.49M	480.29M	368.06M
Total Debt	0.00	637.57M	567.65M	619.69M	256.53M	591.79M
Total Liabilities	-5.44B	1.79B	1.70B	1.72B	1.13B	1.41B
Stockholders Equity	5.44B	5.38B	5.02B	3.57B	2.81B	2.32B
Cash Flow
Free Cash Flow	0.00	159.23M	8.59M	-34.75M	664.81M	425.60M
Operating Cash Flow	0.00	549.43M	832.80M	406.13M	861.90M	566.41M
Investing Cash Flow	0.00	-601.44M	-1.47B	-621.35M	-590.52M	-402.68M
Financing Cash Flow	0.00	-8.79M	729.46M	149.86M	-254.82M	-92.78M

Ganesh Benzoplast Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 81.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GANESHBE, the sentiment is Neutral. The current price of 81.31 is above the 20-day moving average (MA) of 74.43, above the 50-day MA of 78.49, and below the 200-day MA of 93.20, indicating a neutral trend. The MACD of -1.82 indicates Negative momentum. The RSI at 49.46 is Neutral, neither overbought nor oversold. The STOCH value of 79.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GANESHBE.

Ganesh Benzoplast Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MAHASTEEL	66 Neutral	₹12.00B	118.53	―	―	11.83%	124.74%
GANESHBE	63 Neutral	₹5.43B	11.53	―	―	-12.30%	-26.40%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MMP	58 Neutral	₹6.58B	27.32	―	0.78%	26.79%	-35.43%
CHEMCON	57 Neutral	₹6.80B	27.33	―	―	2.76%	30.68%
SHIVALIK	54 Neutral	₹4.76B	33.33	―	0.13%	13.17%	-0.02%

Ganesh Benzoplast Limited Corporate Events

Ganesh Benzoplast Ends Joint Venture for LPG Terminal at JNPT

Ganesh Benzoplast Limited has announced the termination of its joint venture with BW Confidence Enterprise Private Limited, BW LPG Holding Pte. Ltd., Confidence Petroleum India Limited, GBC LPG Private Limited, and its subsidiary GBL LPG Private Limited, which was aimed at developing an LPG storage terminal at JNPT. The decision to terminate the joint venture was influenced by changing global and local scenarios affecting LPG offtake. As part of the termination, Ganesh Benzoplast sold its shareholding in GBC LPG and received a non-compete fee to protect BW’s strategic interests in India. The termination is not expected to have a material adverse impact on the company’s business, as it plans to use the JNPT land for expanding its storage capacity and future projects.

Ganesh Benzoplast Releases Investor Call Recording

Ganesh Benzoplast Limited announced the availability of an audio recording from a recent conference call with investors and analysts, held on November 14, 2025. This move is part of the company’s commitment to transparency and engagement with its stakeholders, potentially enhancing investor confidence and industry positioning.