Ganesh Consumer Products Limited – Investor Presentation Summary

Key Operational Highlights

  • Total installed capacity: 371,954 TPA with capacity utilization of 48.0% in H1 FY27
  • 273 SKUs across 44 product categories spanning three segments: Carrier, Value-Added, and Emerging
  • 7 strategic manufacturing plants with 1,166 MT per day capacity
  • 10 Million+ household reach across operating markets
  • 3.5 Lac+ General Trade outlets in India
  • 1,089 distributors enabled through Distribution Management System
  • 31 C&F agents and 24 Super Stockists
  • 200+ Modern Trade retail touchpoints
  • 70+ procurement brokers across UP, Bihar, MP, Rajasthan, Haryana, Punjab and Maharashtra

Key drivers of operational performance: Expansion of value-added portfolio, directed marketing campaigns featuring Ravindra Jadeja for Sattu category, and new targeted campaigns for spices category.

Segment-wise Performance

  • B2C revenue declined 2.5% YoY in Q2 FY27, with pressure concentrated in Atta category
  • Excluding Atta, B2C revenue grew 4.9% YoY and 26.0% sequentially
  • B2B revenue declined 13.8% YoY, mainly due to lower service income and softer co-product volumes
  • Value-added portfolio continued growth resulting in increased share in B2C revenue
  • Spices revenue grew strongly with significant margin improvement
  • Sattu category delivered strong growth supported by marketing campaign

Explanation of significant changes in segment performance: Atta category volumes declined following changes in State Government policies that led local millers to increase distribution in unorganised segment. Packaged Atta category in West Bengal declined 6.3% YoY during quarter.

Financial Highlights

Revenue: Rs. 2,267M (Q2 FY27), Rs. 4,153M (H1 FY27)

EBITDA: Rs. 295M (Q2 FY27), Rs. 506M (H1 FY27)

PAT: Rs. 188M (Q2 FY27), Rs. 313M (H1 FY27)

EPS: Rs. 4.70 (Q2 FY27), Rs. 7.84 (H1 FY27)

Margins: EBITDA Margin 13.0% (Q2 FY27), 12.2% (H1 FY27); PAT Margin 8.2% (Q2 FY27), 7.5% (H1 FY27)

YoY/QoQ comparison: Q2 Revenue declined 5.0% YoY but grew 20.3% QoQ; Q2 PAT grew 68.7% YoY and 49.9% QoQ

Drivers of financial performance: Better product mix, phasing of advertising spend, lower finance costs following deleveraging

Comparison to market estimates: Not Specified

Key Risks: Raw material price fluctuations, regulatory changes, competition from unorganized segment

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not Specified

Regional Breakdown: Market leadership in East India with focus on West Bengal, Jharkhand, Bihar, Odisha, and North-East regions

Balance Sheet Snapshot

Net Debt/Equity: Net cash position of (₹460M) as of Sep'26

Reserves: Not Specified

Current Assets/Liabilities: Net Current Assets of ₹1,418M (excluding cash)

Working Capital/Leverage Metrics: Cash Conversion Cycle of 32 days; Debt to Equity Ratio of 0.01

Financial Health Insights: Strong cash flow generation, improved liquidity, optimized working capital intensity

Capex & Cash Flow Health

Capital Expenditure: Darjeeling plant project with ₹450M proposed, ₹24.6M utilized as of Sep'26

Free Cash Flow: Not Specified

Operating Cash Flow: Not Specified

Net Debt Movement: Reduced from ₹1,703M in Sep'25 to ₹41M in Sep'26

Investment Rationale: Setting up plants in eastern states to drive supply chain efficiencies, expanding into protein-based portfolio and ethnic snacks

Strategic & R&D Initiatives

Investments in Innovation: Launch of Soya Chunks, ethnic snacks portfolio, packaged sweets category, blended spices (Garam & Biryani Masala), whole & powder spices (Turmeric & Chilli)

Expected impact on growth: Broader commercial rollout of ethnic snacks planned during Q3FY27

Strategic Rationale: Expanding into high-growth markets, reducing operational costs, addressing health-conscious and convenience-focused consumers

Industry Trends & Business Environment

Macro/Industry Trends: India adding ~50M people by FY30, rising urbanization, expanding incomes, stronger purchasing power (per-capita GNI doubled in 7 years), rising female workforce (23.3% to 37.0% between FY18-FY23), nuclearization (avg household size 5.3 to 3.9 FY01-FY30P)

Impact on Company: Driving demand for branded packaged staples, convenience-led packaged foods, and ready-to-cook/ready-to-eat food

Management Commentary & Growth Outlook

Strategic Outlook: "We believe this is temporary and expect volumes to normalize in the medium term. Our priorities are unchanged: strengthening our core categories, scaling our value-added and emerging portfolio, and deepening our presence across eastern India profitably."

FY Guidance: Not Specified

Market Share Targets: Not Specified

Risks and Opportunities: Temporary volume pressure in Atta category, expectation of normalization in medium term

ESG Updates

  • ISO 14001:2015 Environmental Management System ensuring sustainable and eco-friendly operations
  • ISO 45001:2018 Occupational Health and Safety Management System ensuring safe workplace
  • FSSAI compliance with India's Food Safety and Standards regulations

Digital Transformation

  • Warehouse Management System for visibility, optimized space, and real-time tracking
  • Distribution Management System with real-time visibility
  • Sales Force Automation driving sales productivity
  • SAP S/4 HANA Cloud implementation to improve order-to-cash cycle efficiency