I am very impressed by the consistent tracking and observations of all the respected members of the forum regarding Ganesh Benzoplast.
As a latest development consequent to Maritime India Summit 2021, the company has signed MOU’s worth Rs 625 crores for as storage tank farm expansion plan at JNPT Rs 500 cr, Goa Rs 100 cr etc. List of MOU
Eagerly waiting for 03 growth triggers:
Demerger of chemical business.
Approval of consent of establishment Goa LPG plant .
I am quite new to investing in stocks, I may not be able to give proper reason for the same. But i agree company should be announcing it officially for the best interest of stakeholders.
Attaching the recent Credit Rating Press release. I m really confused why there is not any update regarding it. Earlier they have informed about it? In report there is not much to tell and no mention of Stolt Rail Logistic transaction. Only one thing i like to highlight and that is the capacity utilization of Chemical manufacturing, 44% with 15600 MT/year.
The Good news is that the ratings have been upgraded both for Fund based as well as Non Fund based signifying continuous improvement in the fundamentals of the Co. The credit ratings are done by independent rating agencies & carry more credibility.
Did someone found more about Stolt Rail Logistics? What type of infra, asset and capabilities they have?
I did tried to dig from their International parents Annual Report couldn’t get anything concrete related to Indian Biz.
If someone have done then plz share here.
Do they have wogan or train or truck ?
@Pranshinv Could u recheck ur calcultaion regarding Stolt Rail Revenue and profit. As per Q3 results revenue and profit for group is 4.2 crore and 1.74 crore. As it is mentioned that groups share is above stated number.
We can see that its only 47 days revenue and profit. If we extrapolate this to yearly revenue and profit than it comes to 50+ crore in revenue and 13-14 crore PAT which is superb.
So total pat could be north of 60 crore and if chemical biz also fires up than it can go more than that.
Acquistion of Stolt is a big role to play in the coming quarters.
Extrapolation of Revenue and Profit should hold good and it should increase as it will be added advantage to LST division for providing unique service from Port to factory (i.e. end to end).
Profits after tax of Stolt may be impacted due to taxes impact coming in the near future as its business(i.e. chemical) will be generating profits and all previous year losses have been absorbed.
Further if we think from the perspective of Return on invested capital , Capital employed of Rs.61 cr should generate returns of around 16-18 cr . The returns should be of LST division which ranges around of 25%-30% and same is assumed for stolt business as it is part of it.
March 21 Quarter will be key to watch
In Dec 20 results, Management has stated that Profits of Chemical division droped in current quarter on account of increase in raw material prices without corresponding increase in finished good prices in the quarter.
The above time lag might have been resolved and finished goods might have fetched the increase in prices due to raw material price increase.
2. Stolt business might able to generate for 91 days revenue as compared to 47 days in previous quarter
3.Exptecing a good increase in fabrication work as well.
Yes i m eagerly waiting for result but no announcement yet are they waiting for SEBI to extend results filling date .
It is a irony that i could not get any details of Stolt Rail Logistic’s asset and working nature. No mention of Revenue from Stolt Rail in Stolt Neilson AR 20 and AR 19 only asset investment is mentioned.
Is their any regulation that resist Stolt to invest more then 10%?
Don’t agree to the management comments as the finished goods price are passed on instantly. They have a dubious track record & hence despite all tail winds the stock does not perform. Long history of poor corporate governance
Given the business they are in the company can do wonders. Chemicals sector being buoyant the business Moat is great. The mangement need to come out of their shackles
Maybe Stolt will bring in some sembelence
Only hope
I could not find anything related to Ganesh Benzoplast and another company that was shown in videos Shree Shivshankar at this MPCB site for Legal https://www.ecmpcb.in/cms/legal_action/2
The video is of 28/4/2021 as can be seen on the channel.
Tried to find more related to this but couldn’t find anything online.
Need to find out if the steps taken by the management are temporary ones just to restart the plant for time being or have they taken pro active steps so that such a situation doesn’t come up in the future.
Ganesh Benzoplast will be announcing their Q4 results on June 28. The numbers should be decent, pretty much in line with expectations. What is a little disappointing for investors is the possible lack of any dividend despite improving financials. The possible reason for the lack of dividend is the ongoing litigation with Morgan Securities which puts a spanner in the works for any development, whether it was the demerger issue or allotment to Stolt Neilson.
The financials have otherwise never been better. With net cash generation in excess of 50 crs. annually, it is only a matter of time before the Co. begins to spread its wings. I guess the lack of dividend is a small price to pay on a relative basis.
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