Ganesh Benzoplast Ltd: ₹92, P/E ~8 — Small-Cap Storage & Chemical Player Filling Tanks (and Pockets)

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1. At a Glance

Ganesh Benzoplast is a dual-play: providing industrial liquid storage terminals at coastal ports and manufacturing specialty chemicals, food preservatives, and lubricant additives. It trades at a modest P/E of ~8, delivers strong ROCE (~17.7%) and ROE (~13.6%), while capturing contracts worth ₹169 Cr for its storage infrastructure. Seems like the nose is picking up hints of EBITDA.

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2. Introduction

Founded in 1986, GBL stands out by anchoring critical infrastructure—liquid cargo tank farms at JNPT, Cochin, and Goa—while also exporting high-value specialty chemicals. When global supply chains sputter, these liquid storage assets become dry powder. With promotions from Malabar India Fund and an ethanol/Nasik expansion, the plot thickens. Indian Chemical News+15mint+15markets.businessinsider.com+15Reuters+1

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3. Business Model

Segments:

• Liquid Storage Terminals (LST): Leased tanks for chemicals, oils, molasses, petrochemicals.
• Chemicals: Specialty food preservatives, lubricant additives, APIs.
• EPC & Logistics: On-site blending, logistics, rail transport, testing. Reuters+1

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4. Financial Highlights

• Latest Board Update: Q1 FY26 results approved on August 11, 2025. An investor call is scheduled for August 13. Upstox –