Ganesha Ecosphere Limited
Financial Performance - Consolidated
Q2 FY27 Performance (Quarter-over-Quarter):
- Revenue from operations: ₹512.96 crore (vs ₹423.67 crore in Q1 FY27)
- Other income: ₹3.10 crore
- Total income: ₹516.06 crore
- Profit before tax: ₹36.14 crore
- Tax expense: ₹8.06 crore
- Net profit after tax: ₹28.08 crore
- Other comprehensive income: ₹0.26 crore
- Total comprehensive income: ₹28.34 crore
Q2 FY27 Performance (Year-over-Year):
- Revenue from operations: ₹512.96 crore (vs ₹363.38 crore in Q2 FY26)
- Net profit after tax: ₹28.08 crore (vs net loss of ₹0.50 crore in Q2 FY26)
H1 FY27 Performance (Year-over-Year):
- Revenue from operations: ₹936.63 crore (vs ₹700.51 crore in H1 FY26)
- Net profit after tax: ₹57.11 crore (vs ₹10.25 crore in H1 FY26)
- EBITDA: ₹120.42 crore
- Operating cash flows: ₹56.91 crore
Financial Performance - Standalone
Q2 FY27 Standalone:
- Revenue from operations: ₹316.49 crore
- Net profit after tax: ₹14.50 crore
H1 FY27 Standalone:
- Revenue from operations: ₹578.79 crore
- Net profit after tax: ₹28.25 crore
Operational Highlights
- Growth momentum continued in Q2 FY27 across standalone and subsidiary businesses
- Legacy operations maintained strong utilization at 99%
- Warangal facility operated at 67% capacity during the quarter
- PET bottle scrap and finished goods prices remained highly volatile due to fluctuations in crude oil and polymer markets
- The fourth rPET granules line secured FSSAI approval for food-grade applications
- Warangal EBITDA impacted due to loss of rPSF production following a fire incident while fixed costs continued
- Operations at Warangal expected to be restored by Q4 FY27
- Fifth rPET granules production line under installation, expected commissioning by January 2027
- Relocation of Kanpur rPSF capacity to Temra (Bilaspur) facility underway to enhance operational efficiency
Business Overview
- 3+ decades of industry experience
- 500+ product variants
- 400+ customers across 16+ countries
- 6 manufacturing facilities
- 218,940 MTPA recycling & washing capacity
- 300+ supplier network pan India
- 8.5 billion+ scrap bottles recycled annually
- 150,000+ MTPA PET waste converted
- 2,800+ employees
Capacity Details
| Facility | Capacity (TPA) | Product Type |
| Kanpur | 10,200 | rPET Fibre (7,200), Dyed Textured Yarn (3,000) |
| Rudrapur | 39,600 | rPET Fibre |
| Bilaspur & Temra | 57,000 | rPET Fiber (49,800), rPET Spun Yarn (7,200) |
| Warangal | 100,140 | rPET Granules (64,500), B2F Chips/Filament yarn (12,240), RPSF (12,600), PPSF (10,800) |
| Nepal | 12,000 | Washed Flakes |
Industry Context
- India PET bottle expected consumption: 15 lakh tons in CY25
- India recycled content use EPR target in PET bottles: 40% in FY27
- EPR rules driving recycling demand with increasing targets through FY29
Key Strengths
- Leading PET plastic recycling company with early-mover dominance in India's B2B rPET granules space
- Largest player in the RPSF segment
- Go Rewise brand dedicated to sustainability and quality
- Certifications: USFDA, EFSA & FSSAI approved technology for food grade packaging; GRS and Oekotex certified fibers and yarns
- Sustainability initiatives: 16.53 MWp rooftop solar power installations, Warangal facility recycles ~90% of water, zero discharge facility
Management & Board
- Shyam Sunder Sharmma: Founder and Non-Executive Chairman (60+ years experience)
- Vishnu Dutt Khandelwal: Executive Vice-Chairman (35+ years experience)
- Jagat Jit Singh: Non-Executive Independent Director
- Akshay Kumar Gupta: Non-Executive Independent Director (CA, past member of Central Council of ICAI)
- Rajiv Kumar Saxena: Non-Executive Independent Director (retired CGM, SBI)
Balance Sheet - Consolidated (H1 FY27)
Assets:
- Property, Plant and Equipment: ₹1,047.23 crore
- Capital Work-in-Progress: ₹71.23 crore
- Inventories: ₹290.58 crore
- Trade Receivables: ₹222.97 crore
- Cash and Cash Equivalents: ₹22.35 crore
- Total Assets: ₹2,054.51 crore
Equity and Liabilities:
- Equity Share Capital: ₹26.80 crore
- Other Equity: ₹1,296.96 crore
- Long Term Borrowings: ₹316.32 crore
- Short Term Borrowings: ₹173.49 crore
- Trade Payables: ₹89.81 crore
Balance Sheet - Standalone (H1 FY27)
Assets:
- Property, Plant and Equipment: ₹228.43 crore
- Other Non-Current Assets: ₹826.47 crore
- Inventories: ₹174.21 crore
- Trade Receivables: ₹154.82 crore
- Cash and Cash Equivalents: ₹7.64 crore
- Total Assets: ₹1,549.26 crore
Equity and Liabilities:
- Equity Share Capital: ₹26.80 crore
- Other Equity: ₹1,290.54 crore
- Short Term Borrowings: ₹104.94 crore
- Trade Payables: ₹54.27 crore