Ganesha Ecosphere (514167) Q2 24/25 earnings summary

Executive summary

• Consolidated revenue from operations grew to ₹386.8 crore in Q2 FY25, up 38.9% year-over-year, with EBITDA at ₹55.3 crore and PAT at ₹27.1 crore, reflecting strong operational performance.

• H1 FY25 operational revenue reached ₹723.35 crore, with EBITDA at ₹102.97 crore.

• Standalone revenue for Q2 FY25 was ₹255.3 crore, with EBITDA at ₹26.6 crore and PAT at ₹20.2 crore.

• Capacity utilization in standalone business at 106%, subsidiary at 58%, and B2B segment at 72%.

• The Board declared an interim dividend of ₹1.50 per equity share for FY 2024-25.

Financial highlights

• Q2 FY25 EBITDA margin improved to 14.3% from 9.09% in Q2 FY24; standalone EBITDA margin rose to 10.4% from 9.0%.

• Q2 FY25 operating revenue grew 15% sequentially, EBITDA up 16%, and PAT up 20%.

• Consolidated sales volume in Q2 FY25 was 30,000 tons; average realization: consolidated at ₹95/kg, Warangal plant above ₹100/kg.

• EPS surged to ₹10.71 (consolidated) and ₹7.99 (standalone) year-over-year.

• EPR certificate revenue for H1 FY25 was ₹3.5 crore.

Outlook and guidance

• FY25 revenue guidance: ₹1,500–1,600 crore with EBITDA margin of 14.5–15%.

• Expecting 25–30% annual revenue growth for the next few years.

• Warangal project FY25 revenue expected at ₹500–550 crore, targeting ₹750–800 crore in FY26.

• Odisha expansion (45,000 tons) to be operational by March 2026, with full benefit in FY28.

• Order book visibility for rPET Granules business extends for the next 12 months.