GANESHCP

Ganesh Consumer Products financials

Market cap
₹668 Cr
Sector
Fast Moving Consumer Goods
Calls analysed
3
Latest concall · Q1 FY27 · call held 05 Aug 2026

Ganesh Consumer Products Limited Q1 FY27

Revenue from Operations ₹188.5 cr −7%EBITDA Margin 11.2% +1%PAT ₹12.5 cr +31%PAT Margin 6.6% +2%

What went well

  • EBITDA margin expanded to 11.2%, an improvement of 66 bps YoY and 313 bps sequentially, driven by disciplined procurement, enhanced product mix, and cost optimization.
  • PAT grew by 31.4% YoY to ₹12.5 crores, with PAT margin expanding to 6.6% (up 191 bps YoY) due to improved EBITDA and lower finance costs.
  • Overall market share increased by 1% in the packaged wheat-based category, and weighted distribution improved by 1%.

What to watch

  • Revenue declined by 7.1% YoY to ₹188.5 crores, primarily due to an extended heatwave, constrained LPG availability, benign wheat prices, and assembly elections in Eastern India.
  • B2B business declined significantly by 17.9% YoY, impacted by softer B2C volumes and a conscious decision to reduce exposure to lower-margin volumes.
Read the full call →

What Ganesh Consumer Products Limited does

Ganesh Consumer Products manufactures and markets packaged staple foods sold under the 'Ganesh' brand, primarily across West Bengal and East India. Its portfolio spans wheat flour (atta), value-added flours (sooji, maida, besan, sattu, dalia) and spices (whole, powder and blended, including garam and biryani masala), with newer additions like instant mixes and snacks. The company procures wheat, gram and spices through a broker network, processes them at its own manufacturing plants, and distributes finished goods through super stockists, C&F agents, distributors, general and modern trade, and e-commerce/quick-commerce channels.

Segments

  • Carrier
  • Value-Added
  • Emerging
Manufacturing plants
7 (Agra, Varanasi, Hyderabad, and 4 units in Kolkata)
Installed manufacturing capacity
1,466 tons/day
Product portfolio
43 categories, 254 SKUs
Distributor network
1,000+
Household reach
10 Million+
General trade retail outlets
3.5 Lac+
Founded 2000Headquarters Kolkata, West Bengal, India Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 2 delivered 4 missed 8 open
  • Gross Debt delivered said Q2 FY26 Promised: Zero debt by the end of this financial year (FY26) Q1 FY27: Company remains debt-free, reporting a net cash position of ₹17.2 crores.
  • FY26 Annual Revenue Growth went quiet said Q2 FY26 Promised: 12% to 15% this year Q1 FY27: The promise pertained to FY26, which has concluded. Management did not provide the final FY26 growth figure and has moved on to FY27 guidance.
  • Spices Category Revenue on track said Q2 FY26 Promised: INR 100 crores in a couple of years Q1 FY27: Spices (masala) category contributed 6-7% of revenue, implying an annualized run-rate of ~₹50cr. Management has set a new target of 11-12% revenue mix in the next 3 years.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 6.9%, net profit up 30.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue223 218 220 203 239 +7%212 −3%218 −1%189 −7%
EBITDA19 17 13 21 24 +26%23 +35%18 +38%21 +0%
Net profit9 8 5 10 11 +22%12 +50%10 +100%13 +30%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −43.1% 1Y

₹150₹200₹250₹300Sept 25Nov 25Dec 25Feb 26Mar 26May 26Jun 26Jul 26Sept 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 5 Feb 2026Q1 FY27 — 5 Aug 2026

1Y: ₹294.3 on 29 Sept 2025 → ₹167.36. High ₹305.55 (6 Oct 2025), low ₹155.5 (13 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−2.0%
5 Aug
Q3 FY26
−7.2%
5 Feb
Q2 FY26
+5.3%
7 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 2.6% a year over 1 year, FY25 to FY26. Operating margin widened to 9.9%.

Year endingFY25FY26
Revenue₹850 Cr₹872 Cr
Operating profit₹73 Cr₹86 Cr
Operating margin8.6%9.9%
Interest₹7 Cr₹11 Cr
Depreciation₹24 Cr₹24 Cr
Net profit₹35 Cr₹43 Cr
Net margin4.1%4.9%
Cash from operations₹46 Cr₹80 Cr
Free cash flow₹28 Cr₹36 Cr
ROCE19.0%19.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹36 Cr₹36 Cr₹36 Cr₹36 Cr₹40 Cr₹40 Cr
Reserves₹128 Cr₹141 Cr₹168 Cr₹185 Cr₹328 Cr₹331 Cr
Borrowings₹39 Cr₹43 Cr₹105 Cr₹52 Cr₹194 Cr₹27 Cr
Other liabilities₹27 Cr₹50 Cr₹34 Cr₹35 Cr₹93 Cr₹54 Cr
Total liabilities₹231 Cr₹271 Cr₹343 Cr₹309 Cr₹655 Cr₹451 Cr
Fixed assets₹64 Cr₹63 Cr₹173 Cr₹151 Cr₹186 Cr₹188 Cr
Capital work in progress₹38 Cr₹71 Cr₹4 Cr₹21 Cr₹13 Cr₹4 Cr
Investments₹0 Cr₹6 Cr₹3 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹129 Cr₹131 Cr₹163 Cr₹137 Cr₹456 Cr₹259 Cr
Total assets₹231 Cr₹271 Cr₹343 Cr₹309 Cr₹655 Cr₹451 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Sep 2025, FIIs trimmed −5.91 pp while the public added +4.38 pp. The shareholder count shrank 31% to 46,230.

Promoters
65.7%
FIIs
2.3%
DIIs
5.5%
Public
26.6%

Since Sep 2025

  • FIIs −5.91 pp
  • Public +4.38 pp
  • Promoters +1.57 pp

How it drifted, 4 quarters

Over this window FIIs fell from 8.2% to 2.3% — −5.9 pp.

Sep '25Dec '25Jun '26

Ownership split by quarter, oldest first. Sep '25: Promoters 64.1%, FIIs 8.2%, DIIs 5.5%, Public 22.2%.Dec '25: Promoters 64.1%, FIIs 5.4%, DIIs 5.5%, Public 25.1%.Mar '26: Promoters 64.1%, FIIs 2.8%, DIIs 5.6%, Public 27.5%.Jun '26: Promoters 65.7%, FIIs 2.3%, DIIs 5.5%, Public 26.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Ganesh Consumer Products Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Srivaru Agro Private Limited 58.87%unchanged
Manish Mimani 6.58%+1.57 pp
Subhkam Ventures I Private Limited VC / PE3.42%unchanged
Singularity Equity Fund I AIF2.93%unchanged
PGIM India Equity Growth Opportunities Fund Series Ii Mutual fund1.57%unchanged
Bengal Finance And Investment Pvt Ltd 1.46%unchanged
Teck Consultancy And Services Private Limited 1.45%−0.12 pp
Kanodia Finance Private Limited 1.42%−0.27 pp
Rajat Rajgarhia 1.09%newly disclosed
Madhu Mimani 0.12%unchanged
Manish Mimani HUF 0.05%unchanged
Purushottam Das Mimani 0.02%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹167, this stock must grow earnings at 7% every year for 7 years. Our analysis caps realistic growth at ~23%. At that growth it is worth ₹378 — upside of 126%.

Growth the price implies
7.3% a year
for 7 years, fading to 4%
It has actually compounded at
22.9% a year
net profit, FY25–FY26
The gap
-0.2 pp
126% downside if it only repeats history
Price today ₹167.36 Value at the reference growth ₹377.9

Change the assumptions yourself →

All earnings calls (3)

Read the Q1 FY27 call →

Learn to analyse Ganesh Consumer Products Limited

Guides on how to read this kind of business and the numbers that matter.