Reported Earnings • May 23
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹14.50 (down from ₹40.74 in FY 2025). Revenue: ₹15.0b (up 2.3% from FY 2025). Net income: ₹382.1m (down 63% from FY 2025). Profit margin: 2.5% (down from 7.0% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₹1,023, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 20x in the Luxury industry in India. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,672 per share. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹836, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 21x in the Luxury industry in India. Total returns to shareholders of 1.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,647 per share. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹804, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 25x in the Luxury industry in India. Total loss to shareholders of 6.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,415 per share. New Risk • Feb 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). Reported Earnings • Feb 09
Third quarter 2026 earnings released: EPS: ₹1.77 (vs ₹11.74 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.77 (down from ₹11.74 in 3Q 2025). Revenue: ₹3.61b (down 9.1% from 3Q 2025). Net income: ₹47.5m (down 84% from 3Q 2025). Profit margin: 1.3% (down from 7.5% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year. Major Estimate Revision • Nov 17
Consensus EPS estimates fall by 62% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹15.5b to ₹14.5b. EPS estimate also fell from ₹34.75 per share to ₹13.30 per share. Net income forecast to grow 82% next year vs 25% growth forecast for Luxury industry in India. Consensus price target down from ₹2,208 to ₹2,053. Share price fell 7.2% to ₹972 over the past week. Price Target Changed • Nov 15
Price target decreased by 7.0% to ₹2,053 Down from ₹2,208, the current price target is an average from 2 analysts. New target price is 111% above last closing price of ₹972. Stock is down 58% over the past year. The company is forecast to post earnings per share of ₹13.30 for next year compared to ₹40.74 last year. New Risk • Nov 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.4% Last year net profit margin: 6.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.4% net profit margin). Reported Earnings • Nov 11
Second quarter 2026 earnings released: ₹0.28 loss per share (vs ₹10.71 profit in 2Q 2025) Second quarter 2026 results: ₹0.28 loss per share (down from ₹10.71 profit in 2Q 2025). Revenue: ₹3.69b (down 4.7% from 2Q 2025). Net loss: ₹5.00m (down 102% from profit in 2Q 2025). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Major Estimate Revision • Oct 02
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹15.9b to ₹15.5b. EPS estimate also fell from ₹39.75 per share to ₹34.75 per share. Net income forecast to grow 25% next year vs 19% growth forecast for Luxury industry in India. Consensus price target of ₹2,208 unchanged from last update. Share price was steady at ₹1,206 over the past week. Upcoming Dividend • Sep 12
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 19 September 2025. Payment date: 27 October 2025. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.6%). Major Estimate Revision • Aug 20
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹16.9b to ₹15.9b. EPS estimate also fell from ₹45.25 per share to ₹39.75 per share. Net income forecast to grow 35% next year vs 21% growth forecast for Luxury industry in India. Consensus price target up from ₹2,151 to ₹2,208. Share price fell 3.1% to ₹1,371 over the past week. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹4.23 (vs ₹8.91 in 1Q 2025) First quarter 2026 results: EPS: ₹4.23 (down from ₹8.91 in 1Q 2025). Revenue: ₹3.41b (up 1.2% from 1Q 2025). Net income: ₹107.5m (down 52% from 1Q 2025). Profit margin: 3.2% (down from 6.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Aug 09
Ganesha Ecosphere Limited to Report Q1, 2026 Results on Aug 13, 2025 Ganesha Ecosphere Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Buy Or Sell Opportunity • Jun 30
Now 22% overvalued Over the last 90 days, the stock has fallen 4.6% to ₹1,496. The fair value is estimated to be ₹1,230, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has declined by 3.8%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. New Risk • May 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • May 25
Full year 2025 earnings released: EPS: ₹40.74 (vs ₹18.15 in FY 2024) Full year 2025 results: EPS: ₹40.74 (up from ₹18.15 in FY 2024). Revenue: ₹14.8b (up 32% from FY 2024). Net income: ₹1.03b (up 154% from FY 2024). Profit margin: 7.0% (up from 3.6% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Price Target Changed • Apr 10
Price target decreased by 23% to ₹2,070 Down from ₹2,680, the current price target is provided by 1 analyst. New target price is 38% above last closing price of ₹1,498. Stock is up 50% over the past year. The company posted earnings per share of ₹18.15 last year. New Risk • Mar 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,540, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 22x in the Luxury industry in India. Total returns to shareholders of 113% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹1,442, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 24x in the Luxury industry in India. Total returns to shareholders of 123% over the past three years. Reported Earnings • Feb 02
Third quarter 2025 earnings released: EPS: ₹11.74 (vs ₹5.84 in 3Q 2024) Third quarter 2025 results: EPS: ₹11.74 (up from ₹5.84 in 3Q 2024). Revenue: ₹3.98b (up 40% from 3Q 2024). Net income: ₹297.1m (up 133% from 3Q 2024). Profit margin: 7.5% (up from 4.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. New Risk • Jan 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Dec 06
Ganesha Ecosphere Limited Appoints Akshay Kumar Gupta and Jagat Jit Singh as Non- Executive Independent Director Ganesha Ecosphere Limited announced the appointment of Shri Akshay Kumar Gupta and Shri Jagat Jit Singh as Non- Executive Independent Director of the company to hold office for a term of 5 (five) consecutive years with effect from September 5, 2024. Akshay Kumar Gupta, aged 66 years, is a commerce graduate and Practicing Chartered . Accountant. He is a founder partner of Mittal Gupta & ca·, Chartered Accountants, Kanpur and brings a rich professional experience of over 43 years in the field of accounts and audit. He has been professionally active in the Institute of Chartered Accountants of India as a Past Member of its Central Council and has contributed as a Chairman and Member of number of its Coir11nittees. A Past Chairman of the Central India Regional Council of !CAI, Past President of the Kanpur Chartered Accountants Society, Member Fiscal Law Committee of Merchants Chambers of Uttar Pradesh, Member of Funds Management Committee IIT, Kanpur, are only some of his credentials. He has a number of technical articles and publications to his credit. Besides his past directorship in several private companies, he has also served oq1 the Board of Northern Coalfields Limited (a public sector undertaking) and presently serving as a Non-Executive Independent Director in Kanpur Plastipack Limited, a public listed company. Shri Jagat Jit Singh, aged 60 years, is a commerce graduate and a postgraduate in management from Indian Institute of Management (IIM), Ahmedabad. He has a rich experience of over 37 years in the field of sales and marketing across industries i.e. consumer goods including packaged food and snacks, telecom & broadband, durables, automobiles, fashion and financial services. His expertise extends across various domains including management consulting, strategy, international business, ex, product management, business development and sales trainings besides mentoring entrepreneurs and senior management teams. Adept at strategizing and executing, as well as leading multi-cultural teams handling Omni channel businesses, he is well networked across diverse industries and geographies. His diversified client portfolio includes Bajaj Auto, Titan Ltd, Aditya Birla Capital, Glaxo SmithKline Consumer Healthcare, Arrow Shoes and BSNL. Major Estimate Revision • Nov 20
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₹16.9b to ₹15.5b. EPS estimate also fell from ₹51.80 per share to ₹45.10 per share. Net income forecast to grow 71% next year vs 30% growth forecast for Luxury industry in India. Consensus price target up from ₹1,910 to ₹2,770. Share price rose 2.8% to ₹2,255 over the past week. Upcoming Dividend • Nov 19
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 26 November 2024. Payment date: 12 December 2024. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.5%). Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: ₹10.71 (vs ₹1.29 in 2Q 2024) Second quarter 2025 results: EPS: ₹10.71 (up from ₹1.29 in 2Q 2024). Revenue: ₹3.91b (up 40% from 2Q 2024). Net income: ₹271.1m (up ₹243.1m from 2Q 2024). Profit margin: 6.9% (up from 1.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Announcement • Sep 28
Ganesha Ecosphere Limited announced that it has received INR 160.16 million in funding from Race Eco Chain Limited Ganesha Ecosphere Limited announced a private placement to issue 455,000 shares at an issue price of INR 352 per share for the gross proceeds of INR 160,160,000 on September 26, 2024. The transaction included participation from new investor Race Eco Chain Limited (BSE:537785)The transaction has been approved by shareholders of company. Post completion, the investor owns 2.64% stake. Announcement • Sep 05
Ganesha Ecosphere Limited Announces Cessation of Board Members Ganesha Ecosphere Limited announced that Mr. Abhilash Lal and Mr. Pradeep Kumar Goenka ceased to be the Directors of the Company with effect from September 04, 2024 upon completion of their second term of office as Independent Director. Reason for change: Cessation (End of second term of five years as an Independent Director. Declared Dividend • Aug 21
Dividend increased to ₹3.00 Dividend of ₹3.00 is 50% higher than last year. Ex-date: 3rd September 2024 Payment date: 10th October 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is covered by earnings (17% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 157% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,861, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 29x in the Luxury industry in India. Total returns to shareholders of 268% over the past three years. Announcement • Aug 19
Ganesha Ecosphere Limited, Annual General Meeting, Sep 10, 2024 Ganesha Ecosphere Limited, Annual General Meeting, Sep 10, 2024, at 10:00 Indian Standard Time. Location: raipur (rania), kalpi rd., distt. kanpur dehat, u.p- 209304., kanpur India Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: ₹8.91 (vs ₹1.58 in 1Q 2024) First quarter 2025 results: EPS: ₹8.91 (up from ₹1.58 in 1Q 2024). Revenue: ₹3.41b (up 34% from 1Q 2024). Net income: ₹225.5m (up ₹191.0m from 1Q 2024). Profit margin: 6.6% (up from 1.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Announcement • Aug 04
Ganesha Ecosphere Limited to Report Q1, 2025 Results on Aug 10, 2024 Ganesha Ecosphere Limited announced that they will report Q1, 2025 results at 12:15 PM, Indian Standard Time on Aug 10, 2024 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,264, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 26x in the Luxury industry in India. Total returns to shareholders of 133% over the past three years. Reported Earnings • May 29
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ₹18.15 (down from ₹31.82 in FY 2023). Revenue: ₹11.4b (down 3.6% from FY 2023). Net income: ₹405.7m (down 42% from FY 2023). Profit margin: 3.6% (down from 5.9% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 13%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 24
Ganesha Ecosphere Limited Proposes Dividend for the Financial Year 2023 -24 Ganesha Ecosphere Limited recommended dividend, subject to the approval of the Members at the ensuing Annual General Meeting of the Company, of INR 3.00 per share (i.e.@ 30%) on Equity Shares of INR 10 per each of the Company, for the Financial Year 2023 -24. Major Estimate Revision • Feb 21
Consensus EPS estimates fall by 14%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ₹11.3b to ₹11.5b. EPS estimate fell from ₹18.60 to ₹16.00 per share. Net income forecast to grow 226% next year vs 33% growth forecast for Luxury industry in India. Consensus price target up from ₹1,370 to ₹1,540. Share price was steady at ₹1,045 over the past week. Price Target Changed • Feb 20
Price target increased by 8.5% to ₹1,540 Up from ₹1,420, the current price target is provided by 1 analyst. New target price is 47% above last closing price of ₹1,046. Stock is up 24% over the past year. The company is forecast to post earnings per share of ₹16.00 for next year compared to ₹31.82 last year. Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: ₹5.84 (vs ₹9.69 in 3Q 2023) Third quarter 2024 results: EPS: ₹5.84 (down from ₹9.69 in 3Q 2023). Revenue: ₹2.89b (up 6.0% from 3Q 2023). Net income: ₹127.3m (down 40% from 3Q 2023). Profit margin: 4.4% (down from 7.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Minor Risks Profit margins are more than 30% lower than last year (3.9% net profit margin). Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Feb 03
Ganesha Ecosphere Limited has completed a Follow-on Equity Offering in the amount of INR 3.499999 billion. Ganesha Ecosphere Limited has completed a Follow-on Equity Offering in the amount of INR 3.499999 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 3,517,587
Price\Range: INR 995
Transaction Features: Regulation S; Subsequent Direct Listing Announcement • Jan 30
Ganesha Ecosphere Limited has filed a Follow-on Equity Offering. Ganesha Ecosphere Limited has filed a Follow-on Equity Offering.
Security Name: Equity Shares
Security Type: Common Stock
Price(minimum): INR 995.06
Transaction Features: Regulation S; Subsequent Direct Listing Announcement • Nov 25
Ganesha Ecosphere Limited announced that it expects to receive INR 3.875 billion in funding from GPL Finanace Ltd Ganesha Ecosphere Limited announced a preferential issue of warrants convertible into equivalent number of Equity Shares for proceeds of INR 375 million to GPL Finance Limited and qualified institutions placement of equity shares for proceeds of INR 3.5 billion on November 24, 2023. Announcement • Nov 05
Ganesha Ecosphere Limited Declares Dividend for the Financial Year 2022-23 Ganesha Ecosphere Limited at its annual general meeting held on September 21, 2023, declared a dividend of INR 2.00 per share on equity shares having nominal value of INR 10 each aggregating to INR 43.659 million for the financial year 2022-23. Upcoming Dividend • Sep 07
Upcoming dividend of ₹2.00 per share at 0.2% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 21 October 2023. Payout ratio is a comfortable 6.3% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.5%). Announcement • Aug 30
Ganesha Ecosphere Limited, Annual General Meeting, Sep 21, 2023 Ganesha Ecosphere Limited, Annual General Meeting, Sep 21, 2023, at 12:00 Indian Standard Time. Location: Registered Office of the Company at Raipur (Rania) Kalpi Road, Distt. Kanpur Dehat Kanpur India Agenda: To consider and approve the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and Auditors thereon; to consider and declare Dividend on Equity Shares for financial year ended on March 31, 2023; to consider and appoint a Director in place of Shri Shyam Sunder Sharmma, who retires by rotation and being eligible, offers himself for re-appointment; and to consider other business matters. New Risk • Aug 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.2% Last year net profit margin: 7.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.0% operating cash flow to total debt). High level of non-cash earnings (25% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (5.2% net profit margin). Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: ₹1.58 (vs ₹6.09 in 1Q 2023) First quarter 2024 results: EPS: ₹1.58 (down from ₹6.09 in 1Q 2023). Revenue: ₹2.57b (down 12% from 1Q 2023). Net income: ₹34.5m (down 74% from 1Q 2023). Profit margin: 1.3% (down from 4.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
Ganesha Ecosphere Limited to Report Q1, 2024 Results on Aug 03, 2023 Ganesha Ecosphere Limited announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 26
Full year 2023 earnings released: EPS: ₹31.88 (vs ₹28.39 in FY 2022) Full year 2023 results: EPS: ₹31.88 (up from ₹28.39 in FY 2022). Revenue: ₹11.9b (up 17% from FY 2022). Net income: ₹694.6m (up 12% from FY 2022). Profit margin: 5.8% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 26
Ganesha Ecosphere Limited Recommends Dividend for the Financial Year 2022-23 Ganesha Ecosphere Limited recommended dividend, subject to the approval of the Members at the upcoming Annual General Meeting of the Company, of INR 2.00 per share (i.e. @ 20%) on Equity Shares of INR 10 each of the Company, for the Financial Year 2022-23. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹9.69 (vs ₹7.53 in 3Q 2022) Third quarter 2023 results: EPS: ₹9.69 (up from ₹7.53 in 3Q 2022). Revenue: ₹2.73b (down 5.4% from 3Q 2022). Net income: ₹211.1m (up 28% from 3Q 2022). Profit margin: 7.7% (up from 5.7% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 29
Ganesha Ecosphere Limited to Report Q3, 2023 Results on Feb 04, 2023 Ganesha Ecosphere Limited announced that they will report Q3, 2023 results on Feb 04, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: ₹9.01 (vs ₹6.53 in 2Q 2022) Second quarter 2023 results: EPS: ₹9.01 (up from ₹6.53 in 2Q 2022). Revenue: ₹3.15b (up 27% from 2Q 2022). Net income: ₹197.0m (up 38% from 2Q 2022). Profit margin: 6.3% (up from 5.8% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. Non-Executive Independent Director Shobha Chaturvedi was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 08
Ganesha Ecosphere Limited to Report Q2, 2023 Results on Nov 14, 2022 Ganesha Ecosphere Limited announced that they will report Q2, 2023 results at 12:15 PM, Indian Standard Time on Nov 14, 2022 Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improved over the past week After last week's 18% share price gain to ₹742, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 14x in the Luxury industry in India. Total returns to shareholders of 206% over the past three years. Upcoming Dividend • Sep 15
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 30 October 2022. Payout ratio is a comfortable 5.0% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.7%). Announcement • Sep 07
Ganesha Ecosphere Limited, Annual General Meeting, Sep 30, 2022 Ganesha Ecosphere Limited, Annual General Meeting, Sep 30, 2022, at 09:30 Indian Standard Time. Location: Raipur(Rania), Kalpi Road, Dist. Kanpur Dehat-209304 Kanpur India Agenda: To consider the adoption of Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2022; to consider the declaration of Dividend on Equity Shares for the year ended March 31, 2022; to consider the re-appointment of directors; to consider the re-appointment of M/s. Narendra Singhania & Co., Chartered Accountants, as Statutory Auditors of the Company and fixing their remuneration; to consider the ratification of the remuneration of the Cost Auditors in respect of Company's product `Yarn', for the financial year ending March 31, 2023; to consider the ratification of the remuneration of the Cost Auditors in respect of Company's product `Recycled Polyester Staple Fibre', for the financial year ending March 31, 2023; to consider the payment of remuneration to the Directors of the Company; and to consider the alteration of the Objects Clause in the Memorandum of Association of the Company. Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: ₹6.09 (vs ₹5.88 loss in 1Q 2022) First quarter 2023 results: EPS: ₹6.09 (up from ₹5.88 loss in 1Q 2022). Revenue: ₹2.94b (up 48% from 1Q 2022). Net income: ₹132.7m (up ₹261.1m from 1Q 2022). Profit margin: 4.5% (up from net loss in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Reported Earnings • May 23
Full year 2022 earnings released: EPS: ₹26.39 (vs ₹19.94 in FY 2021) Full year 2022 results: EPS: ₹26.39 (up from ₹19.94 in FY 2021). Revenue: ₹10.2b (up 36% from FY 2021). Net income: ₹619.7m (up 42% from FY 2021). Profit margin: 6.1% (up from 5.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Announcement • May 22
Ganesha Ecosphere Limited Recommends Dividend for the Financial Year 2021-22 Ganesha Ecosphere Limited announced that at its board meeting held on May 21, 2022, recommended dividend, subject to the approval of the Members at the upcoming Annual General Meeting of the company, of INR 2.00 per share (that is at 20%) on Equity Shares of INR 10 each of the Company, for the Financial Year 2021-22. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Non-Executive Independent Director Shobha Chaturvedi was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 08
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹7.53 (down from ₹9.21 in 3Q 2021). Revenue: ₹2.88b (up 23% from 3Q 2021). Net income: ₹164.3m (down 18% from 3Q 2021). Profit margin: 5.7% (down from 8.6% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₹702, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 15x in the Luxury industry in India. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 19% share price gain to ₹590, the stock trades at a trailing P/E ratio of 32.7x. Average trailing P/E is 14x in the Luxury industry in India. Total returns to shareholders of 106% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 19% share price gain to ₹590, the stock trades at a trailing P/E ratio of 32.7x. Average trailing P/E is 14x in the Luxury industry in India. Total returns to shareholders of 106% over the past three years. Recent Insider Transactions • Nov 23
Insider recently bought ₹1.3m worth of stock On the 15th of November, Kunjika Kaushal bought around 3k shares on-market at roughly ₹498 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹61m more in shares than they have sold in the last 12 months. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS ₹6.53 (vs ₹5.44 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹2.50b (up 26% from 2Q 2021). Net income: ₹142.6m (up 20% from 2Q 2021). Profit margin: 5.7% (down from 6.0% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Board Change • Sep 04
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Non-Executive Independent Director Shobha Chaturvedi was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 08
Ganesha Ecosphere Limited (BSE:514167) acquired Ganesha Overseas Private Limited for INR 18.3 million. Ganesha Ecosphere Limited (BSE:514167) acquired Ganesha Overseas Private Limited for INR 18.3 million effective August 7, 2021. Ganesha Overseas Private Limited now has become a wholly-owned subsidiary of Ganesha Ecosphere Limited. Announcement • Jun 05
Ganesha Ecosphere Limited Announces Disruptions in Operations in Polyester Staple Fiber Unit Due to Fire Ganesha Ecosphere Limited announced that a major fire accident took place at company's unit manufacturing Polyester Staple Fiber located at Raipur (Rania), District Kanpur Dehat-209304, on June 4, 2021 at around 3:30 A.M. The fire was brought under the control with the help of fire brigades. There was no loss or injury to human life. The fire was widespread and has resulted in major damage to the building, machinery, raw material and finished goods, thereby disrupting the operations of Kanpur Polyester Staple Fiber Unit. The company is in process of ascertaining the actual loss caused by the fire and have informed the Insurance company of the same. Further, the assets of the company are adequately covered under insurance. The company is taking adequate steps to ensure refunctioning of the Unit at the earliest. Reported Earnings • May 23
Full year 2021 earnings released: EPS ₹19.94 (vs ₹29.17 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹7.61b (down 14% from FY 2020). Net income: ₹435.2m (down 32% from FY 2020). Profit margin: 5.7% (down from 7.2% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 16% share price gain to ₹607, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 58% over the past three years. Recent Insider Transactions • Apr 02
Executive Vice Chairman recently bought ₹133k worth of stock On the 31st of March, Vishnu Khandelwal bought around 290 shares on-market at roughly ₹457 per share. In the last 3 months, they made an even bigger purchase worth ₹3.9m. Vishnu has been a buyer over the last 12 months, purchasing a net total of ₹9.1m worth in shares. Is New 90 Day High Low • Feb 25
New 90-day high: ₹612 The company is up 88% from its price of ₹325 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 17% share price gain to ₹560, the stock is trading at a trailing P/E ratio of 29.2x, up from the previous P/E ratio of 24.9x. This compares to an average P/E of 19x in the Luxury industry in India. Total returns to shareholders over the past three years are 60%. Is New 90 Day High Low • Feb 09
New 90-day high: ₹511 The company is up 95% from its price of ₹262 on 11 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 21% over the same period. Recent Insider Transactions • Feb 03
Executive Vice Chairman recently bought ₹3.9m worth of stock On the 29th of January, Vishnu Khandelwal bought around 9k shares on-market at roughly ₹457 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹6.0m. Vishnu has been a buyer over the last 12 months, purchasing a net total of ₹8.9m worth in shares. Announcement • Jan 19
Ganesha Ecosphere Limited to Report Q3, 2021 Results on Jan 25, 2021 Ganesha Ecosphere Limited announced that they will report Q3, 2021 results on Jan 25, 2021 Is New 90 Day High Low • Jan 18
New 90-day high: ₹475 The company is up 86% from its price of ₹256 on 20 October 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 24% over the same period. Recent Insider Transactions • Jan 06
Non-Executive Chairman recently bought ₹2.8m worth of stock On the 31st of December, Shyam Sharmma bought around 7k shares on-market at roughly ₹383 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹6.0m. Shyam has been a buyer over the last 12 months, purchasing a net total of ₹5.3m worth in shares. Announcement • Jan 04
Ganesha Ecosphere Limited Reports Production Results for the Quarter Ended December 31, 2020 Ganesha Ecosphere Limited reported 101.51% capacity utilization during the quarter ended December 31, 2020 in its Standalone Production Volume. The break-up of production for the quarter: Recycled Polyester Staple Fibre production was 27,787 tons; Spun yarn production was 1,989 tons; and Dyed texturized yarn production was 372 tons. Annual Cumulative Installed Capacity was 118,800 tons. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improved over the past week After last week's 21% share price gain to ₹421, the stock is trading at a trailing P/E ratio of 24.5x, up from the previous P/E ratio of 20.3x. This compares to an average P/E of 19x in the Luxury industry in India. Total returns to shareholders over the past three years were flat. Is New 90 Day High Low • Dec 28
New 90-day high: ₹355 The company is up 37% from its price of ₹259 on 29 September 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 25% over the same period. Announcement • Dec 25
Ganesha Ecosphere Limited Announces Demise of Gopal Singh Shekhavat, Director (Administration) Ganesha Ecosphere Limited announced that Shri Gopal Singh Shekhavat, Director (Administration) of the Company has left for his heavenly abode on 24th December, 2020. Shri Gopal Singh Shekhavat was appointed to the Board of the Company as Director (Administration) effective 1 June, 2013. 
