Ganesha Ecosphere Limited has informed the Exchange about Transcript
GANECOS · price
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Ganesha Ecosphere's Q1 FY26 was its weakest quarter in recent times, hit by an unprecedented spike in PET bottle scrap prices (peaking at INR55-56/kg in April-May 2025), which the company could not pass on to customers due to overcapacity and weak demand. Raw material costs rose to 70% of revenue (from 64% prior quarter), production levels fell to 95% (from 99%), and the rPET granule business saw a 25% drop in volumes. Management noted scrap prices have since normalised to INR41-44/kg, festival-season orders for September-October have picked up, and rPET export orders from Europe are strong. Promoters infused INR104 crore via warrant conversion in July; current debt stands at ~INR550 crore with a planned peak of ~INR700 crore.
Short-term pressure on legacy RPSF margins is clearly acknowledged, but the company is guiding to surpass FY25 revenue (~INR1,500 crore target) and bottom-line numbers, with subsidiary rPET margins intact and demand visibility locked in through December. For shareholders, the call signals a temporary setback rather than a structural issue, though the stock may remain sensitive to US tariff developments and raw material price swings.