Ganesh Benzoplast Limited (GANESHBE) AI Stock Analysis

• Market Cap: ₹5.57B
• Dividend Yield: N/A
• Average Volume (3M): 9.25K
• Price to Earnings (P/E): 9.1
• Beta (1Y): 0.81
• Revenue Growth: -12.30%
• EPS Growth: -26.40%
• Country: IN
• Employees: 201
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 2.24
• 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: ₹81.00 ▼(-0.38% Downside)
• Action: Reiterated Date: 11/05/25
• Date: Action: Reiterated 11/05/25

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 margins and operational efficiency

Sustained high gross and operating margins indicate structural pricing power or low-cost production in specialty chemicals and efficient terminal operations. Durable margins provide a cushion against input-cost volatility, support reinvestment in capacity, and help maintain profitability even if revenue growth moderates.

Strong balance sheet and low leverage

A high equity ratio and minimal leverage signal long-term financial stability and flexibility. Low debt reduces refinancing risk and preserves capacity for strategic capex or acquisitions in terminals and chemicals, enabling the company to withstand cyclical downturns without compromising operations.

Diversified business model

Having both specialty-chemicals manufacturing and liquid storage terminals creates complementary, diversified revenue streams. Recurring terminal service revenue can smooth cycles in chemicals sales, improving cash predictability and providing multiple avenues for long-term growth and customer cross-selling.

Negative Factors

Declining revenue and EPS

Consecutive declines in revenue and EPS reflect weakening top-line momentum or margin pressures from pricing or competition. Persistent revenue contraction reduces economies of scale, limits reinvestment capacity, and can erode the durability of currently strong margins if not reversed by new products or market share gains.

Steep free cash flow decline

An 81.5% drop in free cash flow is a material deterioration in cash generation. If sustained, this constrains funding for capex, terminal expansion, debt reduction, or shareholder returns. It may reflect higher working capital needs or capex and undermines the company’s financial flexibility over the medium term.

Moderate returns on equity

ROE of 7.1% is modest relative to the company's strong margins, suggesting capital is not being converted into high shareholder returns. This could indicate underutilized assets, conservative reinvestment, or limited growth opportunities, which may cap long-term value creation for investors.

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 makes money primarily through two operating streams: (1) Specialty chemicals sales and (2) Liquid storage terminal services. In specialty chemicals, the company generates revenue from manufacturing and selling chemical products (such as preservatives/industrial additives) to customers, with earnings driven by sales volumes, product mix, pricing, and input-cost management. In liquid storage terminals, it earns service revenue by providing storage and handling infrastructure for bulk liquids, typically charging customers based on capacity booked (tankage), duration of storage, and associated handling/throughput services (e.g., loading/unloading and related terminal operations). Overall profitability is influenced by demand from end-user industries, utilization of terminal capacity, and the spread between product pricing and raw-material/operating costs. Specific details on named partnerships, contract structures, or customer concentration are null.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	3.84B	3.74B	4.77B	4.21B	3.58B	2.70B
Gross Profit	3.06B	2.68B	2.44B	1.26B	2.00B	1.71B
EBITDA	957.67M	812.46M	1.09B	956.26M	631.10M	750.46M
Net Income	470.86M	380.86M	614.41M	550.79M	326.89M	218.85M
Balance Sheet
Total Assets	7.68B	7.24B	6.77B	5.33B	3.98B	3.78B
Cash, Cash Equivalents and Short-Term Investments	1.05B	1.02B	986.73M	391.49M	480.29M	368.06M
Total Debt	521.27M	637.57M	567.65M	619.69M	256.53M	591.79M
Total Liabilities	1.81B	1.79B	1.70B	1.72B	1.13B	1.41B
Stockholders Equity	5.80B	5.38B	5.02B	3.57B	2.81B	2.32B
Cash Flow
Free Cash Flow	212.58M	159.23M	8.59M	-34.75M	664.81M	425.60M
Operating Cash Flow	398.45M	549.43M	832.80M	406.13M	861.90M	566.41M
Investing Cash Flow	-201.98M	-601.44M	-1.47B	-621.35M	-590.52M	-402.68M
Financing Cash Flow	-164.48M	-8.79M	729.46M	149.86M	-254.82M	-92.78M

Ganesh Benzoplast Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 81.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 Negative. The current price of 81.31 is above the 20-day moving average (MA) of 79.61, above the 50-day MA of 77.66, and below the 200-day MA of 87.83, indicating a bearish trend. The MACD of -0.67 indicates Positive momentum. The RSI at 45.66 is Neutral, neither overbought nor oversold. The STOCH value of 23.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GANESHBE.

Ganesh Benzoplast Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GANESHBE	63 Neutral	₹5.57B	9.06	―	―	-12.30%	-26.40%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MAHASTEEL	61 Neutral	₹15.74B	215.61	―	―	11.83%	124.74%
CHEMCON	58 Neutral	₹5.07B	36.57	―	―	2.76%	30.68%
MMP	58 Neutral	₹5.25B	14.02	―	0.78%	26.79%	-35.43%
SHIVALIK	54 Neutral	₹3.30B	51.21	―	0.13%	13.17%	-0.02%