Ganesh Benzoplast reports strong H1 FY26 profit growth, strategic expansions underway

Ganesh Benzoplast Limited reported a robust performance for H1 FY26, with consolidated revenue reaching INR 1946 million, a 5% year-on-year increase. Consolidated profit after tax saw a substantial 26% rise to INR 419 million. For Q2 FY26 alone, consolidated turnover was INR 990 million, with profit after tax surging by 44% year-on-year to INR 237 million. Consolidated EPS for Q2 FY26 increased by 44% to 3.30.

On a standalone basis, H1 FY26 revenue grew by 15% year-on-year to INR 1186 million, and profit after tax increased by 15% to INR 350 million. Q2 FY26 standalone turnover was INR 616 million, marking a 13% year-on-year increase, while profit after tax jumped 42% to INR 209 million. The company is actively pursuing expansion, with work commencing on 30,000 tons of A-class petroleum tanks at its JNPT site, anticipating a CAPEX of approximately 40 crores. This expansion is expected to generate incremental revenue of INR 400 to INR 500 per kl per month, with an EBITDA margin of almost 90%.

The company also addressed a significant increase in lease rentals at JNPT, with annual costs expected to rise from approximately 3 crores to 18-20 crores. Management indicated plans to offset this through price adjustments and new capacities, aiming to normalize EBITDA margins for the rental business at 50-55%.