Ganesh Benzoplast Limited: Transcript of Investor Call Held on October 7, 2026
Ganesh Benzoplast will receive ₹1,154 crore from divesting its liquid tank farm business. The first ₹500 crore tranche, expected by January 2027, will see ₹200 crore allocated to buyback and special dividend. The company aims to double chemical business PAT to ₹60-70 crore and EPC PAT to ₹150 crore in 5 years. Combined PAT targeted at ₹210 crore.
The divestment and planned utilization of funds for shareholder returns and business expansion are material events that will significantly alter the company's financial structure and future growth trajectory.
The company is receiving a significant amount from the divestment of its liquid tank farm business, which will be used for share buybacks, dividends, and expansion of its chemical and EPC businesses. The management has outlined a clear strategy for growth and profitability, leading to a positive outlook.
Ganesh Benzoplast Limited (GBL) held an investor call on October 7, 2026, to discuss recent corporate developments, including the divestment of its liquid tank farm and associated rail business. The company will receive ₹1,154 crore as compensation for these businesses. The first tranche of approximately ₹500 crore is expected before January 2027, with ₹300 crore expected before March 2027, and the balance ₹354 crore to be received in tranches over the next 12-18 months.
From the initial ₹500 crore, approximately ₹190-200 crore will be allocated for taxes and closing existing bank limits. An additional ₹200 crore is planned for a share buyback and a special dividend, with promoters not participating in the buyback. The remaining ₹100 crore will be used to expand the existing chemical business and increase the EPC book.
The company is focusing on expanding its chemical business, which has seen a significant increase in profitability. GBL has achieved REACH certification for its key products in the UK and Europe, leading to orders of over 600 tons for export. The company plans to double its chemical plant turnover and profitability within 4-5 years, aiming for a PAT of ₹60-70 crore from this division, up from the current ₹18 crore.
In the EPC segment, GBL has secured an order of ₹300 crore from KKR, adding to its existing book. The company has a strong track record in executing projects for major clients like Adani, Reliance, and Jindal. GBL aims to grow its EPC PAT to approximately ₹150 crore in the next 3-5 years. The combined PAT from chemical and EPC businesses is projected to reach ₹210 crore in 3-5 years, a significant increase from the current ₹70 crore.
Regarding capacity expansion, GBL is doubling the capacity of one of its chemical plants, expected to be commissioned by July 2027. The company is also exploring new manufacturing facilities for agro-product derivatives. For the EPC business, revenues are expected to grow from ₹50-60 crore this year to around ₹250 crore per annum from next year, with a PAT margin of 7-8%. The company anticipates an order book of ₹500-600 crore for EPC next year and aims to reach ₹2,500-3,000 crore in 4-5 years.
The company expects to receive the first tranche of payment around January 2027, with the buyback announcement likely to follow. The divestment rationale is based on the value received for the business, considering projected cost increments and market movements. GBL will retain a small shareholding in a terminal in Kandla but has a non-compete clause with KKR regarding the LST business.
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Ganesh Benzoplast Limited filed this with the NSE as a statutory disclosure, categorised under other investor communications. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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