News ArticleGanesha Ecosphere Posts 41.2% Consolidated Revenue Growth in Q2 FY27 with Recovery Plans Underway After Warangal Fire
Company reports 172% consolidated EBITDA increase, 99% plant utilization, and progress on food-grade rPET capacity expansion
Ganesha Ecosphere Limited announced a 41.2% year-on-year consolidated revenue increase for Q2 FY27 with a significant rise in EBITDA despite raw material price volatility and a fire incident disrupting the Warangal rPSF unit. The company’s expansion plans and food-grade product approvals remain on track, supporting long-term growth prospects.
Ganesha Ecosphere Limited
Earnings Call Transcript
Ganesha Ecosphere Limited reported a 41.2% year-on-year increase in consolidated revenue for Q2 FY27 alongside a 172% rise in consolidated EBITDA, despite operational disruptions caused by a fire incident at its Warangal rPSF facility. The company maintains strong operational performance and ongoing capacity expansion for food-grade rPET products.
The company posted consolidated revenue of INR (unnamed) for Q2 FY27, marking a 41.2% increase compared to the same quarter last year. Standalone revenue rose 22% year-on-year. Compared to the previous quarter, consolidated revenue increased 21.1%, and standalone revenue grew 20.7%. Consolidated sales volume rose to 49,382 metric tons from 40,113 metric tons in the previous quarter, while standalone sales volume increased to 31,808 metric tons from 25,321 metric tons.
Despite volatility in PET bottle scrap and finished product prices driven by crude oil and polymer market fluctuations amid geopolitical tensions in West Asia, Ganesha Ecosphere maintained a strong business momentum and profitability. The standalone business operated at approximately 99% plant utilization, with the Warangal facility running at 67% utilization after the fire incident affected operations.
Standalone EBITDA for the quarter reached INR 24.51 crores, and consolidated EBITDA was INR 60.6 crores, increases of 200% and 172%, respectively, over the previous quarter. On a half-year basis, consolidated EBITDA was INR 120.42 crores compared to INR 58.63 crores in the same period last year. Operating cash flows of INR 56.91 crores were generated in H1 FY27, underscoring business strength and cash generation focus.
The fire incident at the Warangal rPSF division in August 2026 caused temporary production halts and profitability loss, with an estimated quarterly volume loss of approximately 2,500 to 3,000 tons. The incident’s financial impact is under assessment but is adequately insured. Restoration efforts are progressing, with full resumption expected by Q4 FY27.
Ganesha Ecosphere’s fourth rPET granule production line at Warangal received FSSAI approval for food-grade applications, enabling supply to the food packaging market. Additionally, the fifth production line is under installation and slated for commissioning in Q4 FY27, which will expand capacity further. The company is also relocating the Kanpur rPSF production line to its Temra unit to improve operational efficiencies.
Highlights
- 41.2% year-on-year growth in consolidated revenue for Q2 FY27
- 172% increase in consolidated EBITDA in Q2 FY27 compared to the previous quarter
- Standalone plant operated at 99% utilization; Warangal facility at 67% after fire impact
- Fire at Warangal rPSF division caused production loss of 2,500 to 3,000 tons quarterly, covered by insurance
- Fourth rPET granule line approved by FSSAI for food-grade applications, fifth line commissioning expected by Q4 FY27
- Operating cash flow of INR 56.91 crores generated in H1 FY27, indicating strong cash generation
Key Data Snapshot
What happened
- Ganesha Ecosphere reported a 41.2% year-on-year increase in consolidated revenue for Q2 FY27.
- The company achieved a 172% jump in consolidated EBITDA in Q2 FY27 compared to Q1 FY27.
- A fire incident at the Warangal rPSF facility caused temporary production halts and volume loss.
- Warangal facility currently running at 67% utilization, standalone operations near 99%.
- The fourth rPET granule production line at Warangal received FSSAI approval for food-grade use.
- The fifth rPET granule line installation is underway and expected online by Q4 FY27.
Key details
- Consolidated sales volumes increased to 49,382 metric tons in Q2 FY27 from 40,113 metric tons the prior quarter.
- Standalone sales volume rose to 31,808 metric tons from 25,321 metric tons sequentially.
- Standalone EBITDA per ton fell in Q2 relative to Q1 due to inventory gains in Q1 and production loss in Warangal.
- Operating cash flows of INR 56.91 crores were generated in H1 FY27, indicating strong liquidity.
- The company is relocating the Kanpur rPSF production line to Temra unit to boost efficiency.
Background and context
- Volatility in crude oil and polymer markets driven by geopolitical tensions impacted raw material and product prices.
- Government mandates require 40% recycled content in packaging, supporting demand for rPET products.
- The Warangal plant's fire incident loss is covered by insurance; full operations expected to resume by Q4 FY27.
Highlights
- 41.2% year-on-year growth in consolidated revenue for Q2 FY27
- 172% increase in consolidated EBITDA in Q2 FY27 compared to the previous quarter
- Standalone plant operated at 99% utilization; Warangal facility at 67% after fire impact
- Fire at Warangal rPSF division caused production loss of 2,500 to 3,000 tons quarterly, covered by insurance
- Fourth rPET granule line approved by FSSAI for food-grade applications, fifth line commissioning expected by Q4 FY27
- Operating cash flow of INR 56.91 crores generated in H1 FY27, indicating strong cash generation
Disclosures
- FSSAI approvals for food-grade packaging products
Source Information
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