NSE: GANESHCP · BSE: 544528
GANESH CONSUMER PRODUCT L
Makes and sells packaged food products, with spices and a sattu portfolio among the named categories, running 7 manufacturing facilities with a combined capacity of 1,466 MT per day. Distribution reaches 3.5 lakh+ retail outlets through 1,000+ distributors, with e-commerce contributing 14% of B2C revenue. The portfolio spans 254 SKUs. In FY26, revenue was ₹871.4 crore, up 2.5% year-on-year, with EBITDA margin at 9.8% and net profit of ₹42.4 crore, up 19.6%. The spices category grew 19% year-on-year and e-commerce revenue grew 43% year-on-year. Raw materials are the dominant cost at 74.6% of revenue, consistent with a food processing model tied to agricultural commodity prices. The company carries negative net debt of ₹643 million, a 23-day cash conversion cycle, and pays out roughly 48% of profit as dividends. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Spices, Sattu portfolio, Other packaged foods. Distribution-heavy packaged foods FMCG with a multi-category, multi-SKU portfolio
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 871 |
| EBITDA (ex other income) | 86 |
| margin % | 9.8 |
| Owners' profit | 42 |
| EPS, as reported (₹) | 11.04 |
| ROE % · ROCE % | 11.4 · 17.1 |
| Debt / equity (x) | 0.02 |
| Cash from operations | 80 |
| Capex | (45) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 203 | 239 | 212 | 218 | 189 |
| Profit before tax | 13 | 15 | 16 | 13 | 17 |
| Net profit | 10 | 11 | 12 | 10 | 13 |
| EPS (₹) | 2.62 | 3.04 | 3.02 | 2.37 | 3.14 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| NESTLE INDIA LIMITED | 2,27,636 | 59.7 | 44.14 | 41.4 | 67.9 | 54.7 | — | 24.4 |
| BRITANNIA INDUSTRIES LTD | 1,09,850 | 42.2 | 21.39 | 29.4 | 49.4 | 59.8 | 7.8 | 18.0 |
| ZYDUS WELLNESS LIMITED | 15,003 | 79.7 | 2.58 | 38.0 | 3.4 | 2.4 | 16.2 | 17.1 |
| BIKAJI FOODS INTERN LTD | 11,647 | 45.0 | 6.82 | 25.8 | 14.9 | 18.3 | — | 15.3 |
| BOMBAY BURMAH TRADING COR | 8,182 | 6.3 | 0.85 | 2.3 | 26.0 | 33.5 | 7.8 | 17.7 |
| MRS BECTORS FOOD SPE LTD | 5,689 | 19.3 | 4.48 | 20.0 | 11.1 | 13.1 | 18.3 | 14.7 |
| GOPAL SNACKS LIMITED | 3,031 | 36.1 | 6.33 | — | 15.4 | 19.4 | — | 7.6 |
| ADF FOODS LIMITED | 2,626 | 28.6 | 4.59 | 17.9 | 15.7 | 18.8 | 13.1 | 18.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.1 | 29.2 | 11 of 38 | 73% |
| P/B | 1.8 | 2.7 | 14 of 34 | 58% |
| ROCE | 14.4 | 7.4 | 14 of 40 | 67% |
| ROE | 11.4 | 7.7 | 13 of 34 | 64% |
| Debt / Equity | 0.0 | 0.1 | 12 of 33 | 66% |
| EBITDA margin | 12.1 | 9.9 | 13 of 33 | 63% |
| Revenue growth | (7.1) | 14.1 | 28 of 36 | 23% |
| Profit growth | 31.4 | 14.1 | 14 of 33 | 59% |
| Market cap | 650 | 100 | 12 of 43 | 74% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting for September results and interim dividend | results | low | — | — |
| 6 Oct 2026 · Routine compliance filing for share dematerialization Q2 FY26 | compliance | minimal | — | — |
| 1 Oct 2026 · Ganesh Consumer sells Hyderabad unit assets for 32.50 crore rupees | compliance | low | — | — |
| 1 Oct 2026 · Hyderabad unit assets sold to Megacity Flour Mills for Rs 32.5 cr | strategic transactions | medium | — | — |
| 28 Sept 2026 · Outcome of the Board Meeting | board shareholder meetings | medium | — | — |
| 24 Sept 2026 · Trading Window Closure from October 1 for Q2 FY26 Results | compliance | minimal | — | — |
| 23 Sept 2026 · Board meeting on Sept 28 to review Hyderabad unit operations | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Revised intimation of analyst and investor meet on Sept 29 | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Ganesh Consumer Products to attend Arihant Capital Bharat Connect Conference | board shareholder meetings | low | — | — |
| 22 Sept 2026 · AGM 2026 results: All 6 resolutions passed, total dividend of 5 rupees per share confirmed | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.