Ganesh eco reported flat numbers which is inline with expectation as plant is running at 100% utilisation since last 2 quarters.

Revenue came at 273 cr vs 288 cr and pat came at 21 cr cr vs 16 cr yoy and 20 cr QoQ

now the big positive is that the most awaited warangel facility has started commercial production since month of February 2023 and now the biggest growth in history of the company will be seen

From the above image one can see that most of the new products have started commercial operations and impact will be seen from current quarter.

Another big positive is that for Bottle to Bottle chips plant they have received USFDA approval for food contact and major global brands have started Audit. According to industry sources coke and pesico are two major bevrage players who have started audit. This could be one of the biggest turning point in the histroy of company once they receive approval.

Another big positve is that the warangel plant is soo big that they can increase capacity by 2-3 times without buying extra lanx everything will be brownfield.

All the products from new facility are premium products and high margin products in earlier concall managent has guided that consolidated margins are likely to improve by 300-400 bps points from current levels of 11-12%.

Fy23-24 is likely to be very big for ganesh eco and growth is likely to continue for many more years to come.

Even though stock is up close to 50% from our recommended levels of 600 we @Dialwealth feel that this is just the beginning and this stock is likely to give multibagger returns even from current levels of 900.

Those who wish to join turbo plan by paying one time fee of 25,000 can whatsapp us ypur name to 9930441584.

I am not a sebi registered research analyst and the views given here are biased.

Please consult your financial advisor before investing.

@Dialwealth