Ganesh Benzoplast Limited (GANESHBE) AI Stock Analysis

Ganesh Benzoplast Limited

(NSE:GANESHBE)

Select Model

Rating:65Neutral

Price Target:INR 92.00▲(4.55% Upside)

Action:downgraded

Date:10/22/26

The score is supported mainly by strong profitability and a low-leverage balance sheet, plus a relatively low P/E valuation. It is held back by weak technicals (price below key moving averages, negative MACD) and uneven cash-flow quality with volatile and recently weaker free cash flow.

Positive Factors

Conservative Balance SheetLow leverage and expanding equity and assets give the company financial flexibility while limiting dependence on debt funding. With 2026 debt-to-equity around 0.12, the balance sheet can better support chemicals and terminal investment through operating cycles without excessive financing pressure.

Negative Factors

Weak Cash ConversionOperating cash flow has generally lagged reported net income, with conversion at roughly 0.50 in 2026. This gap means accounting profits are not consistently translating into cash, potentially limiting internally funded investment, debt reduction, and shareholder distributions.

Ganesh Benzoplast Limited (GANESHBE) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 6.34B
Dividend Yield: ―
Average Volume (3M): 27.64K
Price to Earnings (P/E): 8.7
Beta (1Y): 0.77
Revenue Growth: 13.31%
EPS Growth: 83.54%
Country: India
Employees: 201
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Ganesh Benzoplast Limited Business Overview & Revenue Model

Company Description

Ganesh Benzoplast Limited (GBL) is an Indian-based company, established in Mumbai in 1986, with operations extending internationally. It is involved in the manufacturing and distribution of specialty chemicals, food preservatives, and industrial lubr...

How the Company Makes Money

Ganesh Benzoplast Limited primarily makes money through two operating streams: (1) Specialty chemicals manufacturing and sales, and (2) Liquid cargo storage terminal services. In the chemicals segment, the company generates revenue by producing and s...

Ganesh Benzoplast Limited Financial Statement Overview

Summary

Strong profitability and a conservatively financed balance sheet (low leverage; decent ROE) support a solid fundamental profile, but cash conversion is a key weakness: operating cash flow trails net income in most years and free cash flow is volatile with a sharp decline in 2026.

Income Statement

78Positive

Balance Sheet

84Very Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	4.11B	4.11B	3.74B	4.77B	4.21B	3.58B
Gross Profit	2.73B	2.44B	2.68B	2.44B	1.26B	2.00B
EBITDA	1.20B	935.72M	812.46M	1.09B	956.26M	631.10M
Net Income	733.36M	733.36M	380.86M	614.41M	550.79M	326.89M
Balance Sheet
Total Assets	8.50B	8.50B	7.24B	6.77B	5.33B	3.98B
Cash, Cash Equivalents and Short-Term Investments	874.35M	874.35M	1.02B	986.73M	391.49M	480.29M
Total Debt	757.96M	757.96M	637.57M	567.65M	619.69M	256.53M
Total Liabilities	2.32B	2.32B	1.79B	1.70B	1.72B	1.13B
Stockholders Equity	6.11B	6.11B	5.38B	5.02B	3.57B	2.81B
Cash Flow
Free Cash Flow	212.58M	91.88M	159.23M	8.59M	-34.75M	664.81M
Operating Cash Flow	398.45M	734.94M	549.43M	832.80M	406.13M	861.90M
Investing Cash Flow	-201.98M	-785.99M	-601.44M	-1.47B	-621.35M	-590.52M
Financing Cash Flow	-164.48M	41.95M	-8.79M	729.46M	149.86M	-254.82M

Ganesh Benzoplast Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price88.00

Price Trends

50DMA114.51Negative

100DMA111.67Negative

200DMA98.68Negative

Market Momentum

MACD-8.77Positive

RSI33.22Neutral

STOCH45.18Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GANESHBE, the sentiment is Negative. The current price of 88.00 is below the 20-day moving average (MA) of 98.10, below the 50-day MA of 114.51, and below the 200-day MA of 98.68, indicating a bearish trend. The MACD of -8.77 indicates Positive momentum. The RSI at 33.22 is Neutral, neither overbought nor oversold. The STOCH value of 45.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GANESHBE.

Ganesh Benzoplast Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GANESHBE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:KOTHARIPET	78Outperform	INR 6.42B	8.92	―	1.83%	-7.71%	12.35%
IN:PREMIERPOL	68Neutral	INR 9.55B	25.85	―	0.16%	28.59%	39.90%
IN:GANESHBE	65Neutral	INR 6.34B	8.72	―	―	13.31%	83.54%
IN:VINYLINDIA	60Neutral	INR 4.31B	15.85	―	3.01%	7.25%	38.70%
IN:PLASTIBLEN	58Neutral	INR 4.15B	9.00	―	1.88%	9.17%	40.71%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:POLYPLEX	50Neutral	INR 28.11B	18.12	―	0.33%	9.55%	13.87%

* General Sector Average

Performance Comparison

IN:GANESHBE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GANESHBE	Ganesh Benzoplast Limited	88.00	1.02	1.17%
IN:KOTHARIPET	Kothari Petrochemicals Ltd.	109.06	-41.88	-27.75%
IN:PLASTIBLEN	Plastiblends India Limited	159.80	-16.75	-9.49%
IN:POLYPLEX	Polyplex Corporation Limited	895.40	-45.73	-4.86%
IN:PREMIERPOL	Premier Polyfilm Limited	91.21	48.13	111.72%
IN:VINYLINDIA	Vinyl Chemicals (India) Limited	234.90	-34.86	-12.92%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 22, 2026

Ganesh Benzoplast Limited AI Stock Analysis