Ganesha Ecoverse Ltd
₹ 20.6
19.99%
01 Apr
2:12 p.m.
About
Incorporated in 2003, Ganesha Ecoverse Ltd is in the business of handling plastic waste/scraps and dealing in all kinds of plastic and textile products[1]
Key Points
- Market Cap ₹ 50.6 Cr.
- Current Price ₹ 20.6
- High / Low ₹ 45.0 / 16.6
- Stock P/E
- Book Value ₹ 21.5
- Dividend Yield 0.00 %
- ROCE -7.18 %
- ROE -9.49 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.95 times its book value
- Debtor days have improved from 5,049 to 18.8 days.
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -5.70% over past five years.
- Promoter holding is low: 1.34%
- Company has a low return on equity of -4.36% over last 3 years.
- Promoter holding has decreased over last 3 years: -42.5%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
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Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 9.50 | 1.40 | 0.02 | 0.00 | 0.00 | 9.63 | 0.00 | 23.10 | 0.10 | 5.93 | 7.18 | 2.75 | |
| 0.01 | 9.39 | 1.54 | -0.25 | -0.15 | -0.02 | 11.03 | 0.08 | 23.49 | 2.54 | 6.02 | 11.85 | 9.18 | |
| Operating Profit | -0.01 | 0.11 | -0.14 | 0.27 | 0.15 | 0.02 | -1.40 | -0.08 | -0.39 | -2.44 | -0.09 | -4.67 | -6.43 |
| OPM % | 1.16% | -10.00% | 1,350.00% | -14.54% | -1.69% | -2,440.00% | -1.52% | -65.04% | -233.82% | ||||
| 0.03 | 0.16 | 0.36 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.13 | 6.46 | 3.39 | 1.19 | |
| Interest | 0.00 | 0.12 | 0.13 | 0.24 | 0.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.91 | 1.06 | 1.07 | 0.61 |
| Depreciation | 0.00 | 0.05 | 0.04 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 |
| Profit before tax | 0.02 | 0.10 | 0.05 | 0.05 | 0.00 | 0.01 | -1.41 | -0.09 | -0.38 | -3.22 | 5.31 | -2.36 | -5.85 |
| Tax % | 50.00% | 30.00% | 20.00% | 40.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.31% | 20.34% | -38.14% | ||
| 0.01 | 0.07 | 0.04 | 0.03 | 0.00 | 0.00 | -1.42 | -0.09 | -0.38 | -3.24 | 4.23 | -1.46 | -4.33 | |
| EPS in Rs | 0.01 | 0.03 | 0.02 | 0.01 | 0.00 | 0.00 | -0.58 | -0.04 | -0.15 | -1.32 | 1.72 | -0.59 | -1.76 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | -6% |
| 3 Years: | -32% |
| TTM: | -70% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -180% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 26% |
| 3 Years: | -13% |
| 1 Year: | -46% |
| Return on Equity | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | -3% |
| 3 Years: | -4% |
| Last Year: | -9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5.71 | 10.43 | 10.43 | 10.43 | 11.18 | 11.18 | 11.18 | 11.18 | 11.18 | 11.18 | 11.18 | 24.59 | 24.59 |
| Reserves | 1.45 | 1.78 | 1.81 | 1.85 | 4.25 | 4.25 | 2.83 | 2.74 | 1.91 | -3.13 | -2.21 | 29.64 | 28.34 |
| 0.09 | 1.62 | 0.88 | 12.72 | 12.29 | 12.79 | 13.02 | 13.26 | 10.04 | 14.54 | 18.86 | 19.90 | 19.97 | |
| 0.02 | 1.58 | 0.02 | 12.40 | 9.00 | 8.55 | 1.37 | 1.14 | 0.03 | 0.02 | 1.53 | 0.75 | 0.75 | |
| Total Liabilities | 7.27 | 15.41 | 13.14 | 37.40 | 36.72 | 36.77 | 28.40 | 28.32 | 23.16 | 22.61 | 29.36 | 74.88 | 73.65 |
| 0.00 | 0.13 | 0.09 | 0.06 | 0.05 | 0.03 | 0.02 | 0.02 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 13.98 | 57.34 | 55.85 |
| 7.27 | 15.28 | 13.05 | 37.34 | 36.67 | 36.74 | 28.38 | 28.30 | 23.15 | 21.61 | 15.37 | 17.53 | 17.79 | |
| Total Assets | 7.27 | 15.41 | 13.14 | 37.40 | 36.72 | 36.77 | 28.40 | 28.32 | 23.16 | 22.61 | 29.36 | 74.88 | 73.65 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -3.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.23 | -0.89 | -0.21 | -1.83 | |
| 0.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.97 | 1.04 | -45.46 | |
| 3.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3.22 | 1.90 | -0.04 | 46.71 | |
| Net Cash Flow | 0.23 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.03 | 0.78 | -0.58 |
| Free Cash Flow | -3.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.23 | -0.86 | -0.22 | -1.84 |
| CFO/OP | 32,100% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -828% | 36% | 111% | 31% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 198.25 | 0.00 | 0.00 | 96.27 | 115.50 | 15,111.00 | 17.23 | 18.81 | ||||
| Inventory Days | 0.00 | 0.00 | 755.09 | 73.00 | 1,123.19 | 8.80 | 0.00 | |||||
| Days Payable | 28.10 | 0.00 | 0.00 | 30.05 | ||||||||
| Cash Conversion Cycle | 198.25 | 0.00 | 0.00 | 823.26 | 188.50 | 16,234.19 | -4.02 | 18.81 | ||||
| Working Capital Days | 427.63 | 3,165.07 | 404,420.00 | 908.52 | 364.21 | 71,941.50 | 727.54 | 684.76 | ||||
| ROCE % | 0.35% | 2.09% | 1.34% | 1.52% | 0.49% | 0.04% | -5.10% | -0.33% | -1.51% | -10.19% | 24.36% | -7.18% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations (Real Estate / Other) INR Lakhs |
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| Permanent Employees Employees |
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| Debtors Turnover Ratio x |
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| Planned Units (Residential) Units |
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| Project Total FAR Area (Wave City Project) Lakh sq. ft. |
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| Revenue from Operations (Steel Trading) INR Lakhs |
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| Revenue from Operations (PET Waste Trading) INR Lakhs |
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| Associate Production Halt (GSPL Storm Damage) Months |
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Documents
Announcements
- Closure of Trading Window 26 Mar
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Board Meeting Outcome for Merger Of Ganesha Ecoverse Limited Into GESL Spinners Private Limited
14 Jan - 14 Jan 2026: Board approved Ganesha merging into GSPL; GSPL surviving entity (GSPL paid-up Rs.6161.25 L).
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Announcement under Regulation 30 (LODR)-Restructuring
14 Jan - Ganesha Ecoverse to merge into GSPL with GSPL as surviving entity; board approved January 14, 2026.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 9 Jan
-
Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)
6 Jan - CFO Surbhi Bhatia resigns effective Jan 31, 2026 to start Chartered Accountant practice.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Change in Promoters and Shift in Business Focus:[1]
In FY24, pursuant to an Open Offer and a Share Purchase Agreement (SPA) executed on January 6, 2023, the company’s control and promoter shareholding changed. As a result, the previous Promoter Group ceased to hold that status, and a new Promoter Group assumed control of the company.
Following this change in control, the company has reoriented its core operations from share trading and real estate to the manufacturing and trading of plastic and textile products—in primary, intermediate, or finished forms—including both virgin and recycled materials. These activities span spinning, knitting, weaving, and garment manufacturing.
Now, the company is actively trading post-consumer PET bottle waste and scrap.