GANESHCP
Ganesh Consumer Products reported a challenging Q1 FY27 with revenue declining 7.1% YoY due to external factors like heatwaves and elections, but showed resilience through margin expansion and market share gains. EBITDA margin reached an all-time high of 11.2%, up 66 bps YoY, driven by procurement efficiency and cost optimization. Despite B2B decline, B2C held relatively well, and the company is expanding into new categories like ethnic snacks and soya chunks.
Balance-sheet ratios
Scale of reported figures
Key financials
| Revenue from Operations | ₹188 crore | YoY (7.1%) |
| EBITDA | ₹21 crore | YoY (1.2%) |
| Profit after Tax | ₹12.5 crore | YoY 31.4% |
| PAT Margin | 6.6% |
Segment commentary
B2C business
Declined 4.1% YoY but held up relatively well compared to B2B.
B2B business
Declined 17.9% YoY due to lower realizations and reduced exposure to low-margin volumes.
Guidance & outlook
- Planning a wider rollout of ethnic snacks during Q3 FY27.
- Launching packaged sweets at Amta unit in Q3 FY27.
- Entering protein-led kitchen staples with Soya Chunks.
Key takeaways
- Revenue decline driven by external factors, but EBITDA margin hit a record high.
- Market share gains despite challenging environment.
- Expansion into new product categories to drive future growth.
- Strong focus on brand building and distribution expansion.
- Profitability improvements through cost optimization.
Risks flagged
- Extended heatwave impacting category demand.
- Constrained LPG availability affecting consumer behavior.
- Disruptions from Assembly elections.
In their words
“The strength of our execution was also reflected in our profitability. EBITDA margin expanded to 11.2%, the highest in the Company’s history representing an improvement of 66 basis points year-on-year and 313 basis points sequentially.”— Managing Director





Educational analysis only. Not investment advice. Consult a
SEBI-registered advisor before investing. Source: https://nsearchives.nseindia.com/corporate/GANESH_NSE_04082026220435_Investor_Presentation.pdf
Full transcript (5,118 words)
Ganesh Consumer Products Limited
[Formerly Known as Ganesh Grains Limited]
Trinity Tower, 83, Topsia Road (South), 3rd Floor
Kolkata - 700046, West Bengal, India
Phone: +91 334015 7900 / 6633 6633
Email : ggl@ganeshconsumer.com
Website: ganeshconsumer.com
CIN: L15311WB2000PLC091315
AUGUST 04TH, 2026
To To
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G- Block
Dalal Street Bandra Kurla Complex, Bandra (East)
Mumbai -400001 Mumbai- 400001
Maharashtra, India Maharastra, India
Scrip Code – 544528 NSE Symbol- GANESHCP
SUBJECT: INVESTOR PRESENTATION FOR QUARTER ENDED JUNE 30TH ,2026
Dear Sir/Madam,
Pursuant to Regulation 30 and other respective regulations of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, we are enclosing herewith, the copy of Investor
Presentation which covers the milestones achieved by the Company during the quarter ended
June 30th, 2026.
A copy of the same will also be uploaded on the Company’s website ganeshconsumer.com
Kindly take the same on your record.
Thanking You
For Ganesh Consumer Products Limited
Narendra Mishra
Company Secretary and Compliance Officer
Membership No. A46018
Encl: As above
REGISTERED OFFICE: 88, BURTOLLA STREET, KOLKATA-700007, WEST BENGAL, INDIA
INVESTOR PRESENTATION
Q1 FY27
Ganesh
Consumer Products Limited
Nourishing Everyday Moments with
Quality and Trust
August 2026
Safe Harbour Statement
This presentation may contain certain “forward-looking statements” within the meaning of applicable securities laws and
regulations, which may include those describing the Company’s strategies, strategic direction, objectives, future projects
and/or prospects, estimates etc. Investors are cautioned that “forward looking statements” are based on certain
assumptions of future events over which the Company exercises no control. Therefore, there can be no guarantee as to
their accuracy and readers are advised not to place any undue reliance on these forward-looking statements. The
Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise. These statements involve a number of risks, uncertainties and other factors
that could cause actual results or positions to differ materially from those that may be projected or implied by these
forward-looking statements. Such risks and uncertainties include, but are not limited to; growth, competition, acquisitions,
domestic and international economic conditions affecting demand, supply and price conditions in the various business's
verticals in the Company’s portfolio, changes in Government regulations, laws, statutes, judicial pronouncement, tax
regimes, and the ability to attract and retain high quality human resource.
2
TABLE OF CONTENTS
01
1. About Ganesh Consumer Products
2. Message from the Managing Director
3. Key Financial Highlights
4. Why Ganesh Consumer Products?
5. Strategic Roadmap
6. Financial Summary
7. Annexures
Ganesh Consumer Products at a Glance
Pioneer of the Consumer Staple Market in East India
* Household counts and retail outlets counts in Other states are based on Management Estimate. Retail Outlet counts in West Bengal is from Neilsen Report.
# Spices portfolio has a credit period of 15 – 30 days; **EBITDA Margin (%) is calculated as EBITDA divided by Revenue from operations. ^ Annualised
• A trusted East India staples brand, built over 8 decades of heritage and listed Comprehensive Portfolio
since Sep’25
• Market leader in packaged staples across East India
Whole
• Diversified portfolio spanning 44 product categories and 256 SKUs across Whole
Wheat
three segments; Carrier (wheat flours), Value-Added (sooji, maida, besan, sattu, Wheat
Flour
Flour
dalia) and Emerging (spices, instant mixes, ethnic flours)
Chakki Sharbati Multigrain
• High household relevance - embedded in daily meal preparation, driving
Atta Atta Atta
consistent and recurring demand
• Strong quality processing and standardization enable the company to scale
consumer trust and meet evolving needs
Wheat and
GWrahme abt aasnedd
Gram based
value added
value added
products
Operational Excellence Financial Metrics (Q1 FY27) flours
Sooji Maida Besan Sattu Dalia
Cash & Carry 53.6% 12.6%
11.2%
Model In General E-Commerce CAGR Revenue CAGR
EBITDA Margin**
Trade (GT) # (FY23-FY26) (FY23-FY26)
10 Million+ 3.5 Lac+ 6.6% 43 Emerging
PErmoderugcintsg
Household Reach* GT Outlets in India* PAT Margin WC Days^
Products
30 1,000+ 18.0% 13.3%
Powder Whole Blended Dhokla Ethnic
C&F Agents Distributors ROCE^ ROE^ Spices Spices Spices Flour
5
Our Journey
From Regional Heritage to Scalable Platform
2008 2010 2014 2015
2006-15 • EXPANSION
2022 2023 2025-26 •IPO & CAPACITY
• Commissioning of 4 new units and
ADDITION
expansion of manufacturing capacity 2022-23 • REPURPOSING
• Successfully completed Initial Public
through 2 acquisitions, focusing on:
• Jalan Unit-I & Agra - enhanced sooji
Offering in September 2025.
o Gram-based value-added flour & yield
• Agra plant -Commissioned Atta &
ethnics flours
1936 • BRAND INCEPTION • Jalan Unit-II - whole, powder &
Daliaunits
• Started as a retail outlet in Burrabazar, o Wheat-based-value added flour blended spices
• Commissioned Amta unit - Soya
Kolkata under the “Ganesh” brand products (maida, sooji and dalia)
Chunks
2000-06 • INCORPORATION 2016-22 • SCALING UP 2024 • NEW CATEGORIES
• Company incorporated in 2000 • Raised funds from India Business • Blended Spices: Garam & Biryani
• Commissioned Jalan Complex Unit-I as Excellence Fund II & India Business Masala
an Atta Chakki plant Excellence Funds- IIA • Whole & Powder: Turmeric & Chilli
• Awarded Emerging Company of the
Year by Zee Business
• Awarded Most Loved Brand by Blinkit Garam Masala Biryani Masala
Turmeric Powder Chilli Powder
6
An Integrated Value Chain
From Grain to Greatness
Procurement End Consumer
(Wheat, Gram and Spices)
Network of 70+ brokers across UP, Household Brand of East India
Bihar, MP, Rajasthan, Haryana,
Punjab and Maharashtra 10 Million+ Household Reach**
Long-established relationships 4.5/5 Q-Commerce and E-Commerce
ensuring grain quality and price Customer Satisfaction Ratings
discovery
Manufacturing Sales & Distribution
30 C&F agents and 20 Super Stockists
100% in-house manufacturing and
1000+ distributors enabled through
processing capabilities* across
Distribution Management System with
8 Strategic Plants
real-time visibility
1,478 MT per day Capacity
GT - 3.5 Lac+ Outlets**
Warehousing Management System
MT - 200+ Retail Touchpoints
for visibility, optimized space, &
real-time tracking
Robust Sales Force Automation driving
sales productivity
*Note - Snacks which were launched in FY25 and which form a very small fragment of the revenue are procured from a third-party manufacturer 7
** Retail outlet count in West Bengal is from Nielsen Report and in other states is based on management estimates
Manufacturing Footprint
Backward integration powering efficiency and consistency
8 Manufacturing Facilities
KOLKATA
Agra + Varanasi West Bengal
(Uttar Pradesh)
Near to core market - Enabling
Near to Farm – efficient logistics management
optimizing raw material sourcing
Padmavati Unit
Varanasi Unit 384 tons per day
186 tons per day
Jalan Complex Unit I
Agra Unit 150 tons per day
304 tons per day
Jalan Complex Unit II
40 tons per day
Food Park Unit
90 tons per day
Amta Plant*
12 tons per day
Hyderabad
(Telangana)
Total Capacity Engaged in Job Work for an
FMCG Player
1,478 tons per day
Hyderabad Unit
312 tons per day
8
*Note - Start of commercial production during Q1 FY27
Quality at the Core
Committed to Quality, Safety & Sustainability
Backed by Quality Standards and Credibility Advanced Manufacturing Infrastructure
Seven facilities | Highly automated | Built for scale
ISO 14001:2015 FSSAI STATE-OF-THE-ART CAPABILITIES
Environmental Compliance with India's
Management System Food Safety and Standards Buhler-Designed Plants
ensuring sustainable and regulations for safe and
Jalan Complex I and Agra units use advanced Technology and Buhler
eco-friendly operations hygienic food products
make machinery boosting Sooji yield from typical 6-8% to 28-32%.
Automated Material Flow
Software applications automate, monitor and control material flow
ISO 45001:2018
across the production line; consumption is logged in real time.
Global benchmark for food safety Occupational Health and
management, integrating ISO Safety Management System
standards with sector-specific ensuring a safe and efficient Grain-Level Quality Scanning
controls workplace
Advanced customized machinery scans every grain, rejecting immature,
infected or discoloured material before grinding.
A fully equipped in-house quality laboratory and a dedicated QA team
Direct Process Control
ensure that every batch meets stringent national and international
Technological infrastructure enables end-to-end control of the
benchmarks from raw material sourcing to final packaging.
manufacturing process driving consistent product quality.
9
Management Commentary
Message from the Managing Director
“The first quarter of FY2027 was marked by a challenging operating environment for the category, yet it also reinforced the
strength and resilience of our brand. Revenue from operations stood at ₹1,885 million, representing a decline of 7.1% year-
on-year, as category demand was affected by an extended heatwave, constrained LPG availability, and disruptions
surrounding the Assembly elections. Our consumer-facing B2C business held up relatively well, declining 4.1% YoY, while
B2B declined 17.9% YoY. Given the close linkage between the two businesses, softer B2C volumes during the quarter also
flowed through to B2B, with the remaining decline attributable to lower realizations and our conscious decision to reduce
exposure to lower-margin B2B volumes.
Despite these headwinds, we continued to strengthen our competitive position. Our overall market share increased by 1
percentage point in the packaged wheat-based category. Weighted distribution also improved by 0.8 percentage point,
reflecting the growing reach and availability of our products. Gaining both market share and distribution in a challenging
environment underscores the resilience of our business model and the continued trust consumers place in our brand.
The strength of our execution was also reflected in our profitability. EBITDA margin expanded to 11.2%, the highest in the
Company’s history representing an improvement of 66 basis points year-on-year and 313 basis points sequentially. This
margin expansion was driven by disciplined procurement during a favorable commodity cycle, an enhanced product mix,
and focused cost-optimization initiatives. Importantly, these margins were delivered while increasing advertising
investments to 3.1% of revenue, supporting the long-term strength of our brand. Profit after tax grew by 31.4% year-on-
year to ₹125 million, with the PAT margin improving to 6.6%.
Beyond our core business, we continue to build the foundation for our next phase of growth. Following the encouraging
response to the soft launch of our ethnic snacks range, we are preparing for a wider rollout during the later part of the
current fiscal year. The entire ethnic snacks portfolio will be manufactured at our Amta unit, where we also plan to
manufacture packaged sweets. Both categories are expected to be launched during the third quarter, strengthening our
Manish Mimani presence in adjacent food segments while leveraging existing manufacturing capabilities. Separately, we commenced
distribution of Soya Chunks, extending our value-added portfolio into everyday, protein-led kitchen staples.
Managing Director
Our priorities remain clear: to strengthen our core categories, scale our value-added portfolio, and deepen our presence
across both existing and emerging markets. We remain deeply grateful to our shareholders, partners, employees, and the
entire Ganesh family for their continued trust and support.”
10
Key Financial Highlights (1/2)
In INR Millions
Particulars
Revenue from
EBITDA* Profit before Tax Profit after Tax
Operations
Q1 FY27 1,885 210 168 125
Growth YoY (7.1%) (1.2%) 31.1% 31.4%
Growth QoQ (13.5%) 20.2% 30.7% 31.3%
Margin (%) 11.2% 8.8% 6.6%
Diluted EPS (in ₹) 3.14
Notes: *EBITDA has been calculated as aggregate of the restated profit before tax, depreciation and amortization expenses and finance cost, less other income, for the relevant period/year and EBITDA Margin (%) is calculated as EBITDA divided by
Revenue from operations. 11
Key Financial Highlights (2/2)
In INR Millions
PARTICULARS JUN’26 MAR’26 JUN’25 ROCE^ 3 ROE^
18.0% 17.9%
20.0%
Total Equity 3,830 3,705 2,364 16.5%
18.0% 15.4%
14.2%
16.0% 13.3%
14.0%
Total Borrowings 59 83 1,985
12.0%
10.0%
8.0%
Cash & Cash Equivalents 232 725 34 6.0%
4.0%
2.0%
0.0%
Net Debt (172) (643) 1,951
Jun'26 Mar'26 Jun'25
Net Fixed Assets 1,935 1,918 1,786
Net Debt/ Equity Net Debt/EBITDA 4
Net Current Assets1 1,688 1,121 603 2.3
Total Assets 4,519 4,509 5,270
0.8
Net Fixed Asset Turnover
3.9 4.8 4.6
Ratio^
(0.04)
(0.2) (0.2)
Cash Conversion Cycle2 43 23 61
(0.8)
Jun'26 Mar'26 Jun'25
Notes: 1. Net Current Assets: Current Assets - Current Liabilities – Cash & Cash Equivalents; 2. Cash Conversion Cycle based on annualised revenue from operations; 3. Capital Employed refers to the sum of Total Equity and Total Debt and reduced by
Capital Reserve and Capital Redemption Reserve.; 4. EBITDA is calculated as annualised profit before exception item and tax for the period/ year plus finance cost and depreciation and amortization costs as reduced by other income. ^ Annualised
12
Why Ganesh Consumer Products?
India’s Branded Staples Opportunity
Commanding Market Leadership in East India
Diversifying Revenue Mix
Robust Distribution Network
Track Record of Consistent Financial Performance
Innovative & Consistent Brand Building
Pioneering Growth Backed by Proven Leadership
India’s Branded Staples Opportunity (1/2)
Strong Demographic, Rising income, Expanding Consumption
Population of India India's Rising Urbanization KEY INSIGHTS
in Billion (Calendar Year) Urban population as % of total
41.0%
Large & Growing Population
37.4%
1.50
1.49 34.9% India to reach ~1.5 Bn by FY30 with a
1.45 vast, young consumption base.
1.43 1.44 30.9%
1.42 1.42
1.40 27.7%
25.5%
Rising Urbanization
FY20 FY21 FY22 FY23 FY24 FY25E FY29P FY30P 1990 2000 2010 2020 2025 2030P Urban share climbing steadily, lifting
demand for branded, packaged
→ India adds ~50M people by FY30 → Urban share to cross 40% by 2030 staples.
Household Annual Earnings Per Capita GNI (₹ '000)
Expanding Incomes
Households in millions, by USD income band Per-capita Gross National Income, with YoY growth %
Sharp shift toward middle and
400
YoY ▸ — +12.9% +6.3% -1.5% +18.9% +14.2% +12.1% +9.8% higher-income households through
300 2030.
336
306
200 273
239
192 204 201
170
100 Stronger Purchasing Power
Per-capita GNI doubled in 7 years
0
fueling disposable income growth.
2010 2020 2023 2030P
FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
<$5k $5k - $10k $10k - $50k >$50k
→ Affluent households (>$10k) to 12x by 2030 → Income nearly doubled FY18 → FY25
Demographics, urbanization and rising incomes are converging into a structural tailwind for branded packaged staples, directly aligned with Ganesh's
portfolio and East-India focus.
14
Source: Technopak Report
India’s Branded Staples Opportunity (2/2)
Converting India's loose staple market into a branded opportunity
Total Addressable Market Organized Market CAGR
Organized %
(2025 - in Cr) (2025-2030P)
~1,85,000 15.9% ~18%-20%
Wheat Flour & Wheat Derivatives
~50,000 16.1% ~18%-20%
Gram Flour & Gram Derivatives
Spices ~1,40,000 13.5% ~18%
India's Consumption Headroom vs. Developed Markets Key Catalysts Driving the Shift to Branded Staples
Organized Retail Penetration (CY23/FY24)
Rising Female Workforce Modern Trade & Q-Commerce
% of total retail market
23.3% → 37.0% 18.5% → 24.2%
USA 87%
Female labour participation surged 13.7 Modern trade penetration to widen
Australia 84% pp between FY18-FY23, driving demand FY24-FY28P; e-commerce growing fastest
for convenience-led packaged foods and at 21.2% CAGR vs 8.4% for GT
UK 83%
Ready-to-Cook/ Ready-to-eat food.
Thailand 47%
Demand for high quality and Nuclearization
China 45%
health-oriented foods 5.3 → 3.9
Avg. Household Size (FY01-FY30P)
India 18.50% The demand for high quality packaged Smaller households drive demand for
food is rising as consumers become ready-to-eat meals, and branded products
India: 18.5% (FY24) → 22.9% (FY27P) more health-conscious and that deliver consistent quality and save
Substantial headroom vs developed peers at 80%+ environmentally aware preparation time.
15
Source: Technopak Report
Commanding Market Leadership in East India
Strong foothold across products
Presence in West Bengal* Presence in East India*
Largest player in Wheat-based products1 Largest player in Wheat-based derivative3
Player in Packaged Sattu Top 2 Player in Gram-based flour products2
3
Top 2
Player in Packaged Besan Largest brand of Packaged Wheat Flour
*Source: Technopak Report Notes: 1. Wheat based products include wheat flour, maida, sooji and dalia, 2. Gram-based flour products include besan and sattu, 3. Wheat based derivative excludes wheat flour
Market Dynamics & Distribution Performance - Ganesh strengthens its position even as the West Bengal packaged-atta market contracts
(10.6%) +1% +0.8%
↓ MARKET ↑ MARKET SHARE ↑ REACH
Category contracted QoQ Market share increased Weighted distribution improved
The West Bengal packaged-atta market declined, yet Ganesh Value share in packaged wheat products (atta, maida and Reach expanded by 0.8%, reflecting growing availability and
gained ground. sooji) increased by 1% shelf presence.
Source: Nielsen, West Bengal
Notes: Weighted distribution = Percentage of category sales generated by stores where our products are present.
16
Diversifying Revenue Mix (1/2)
Strong in Core, Scaling Beyond
Geographic Expansion Product Mix Changes
State wise B2C Revenue Mix Product Category wise B2C Revenue Mix
West Bengal 93%
4% 7% 8% 9% 9%
Emerging Products
81 Jharkhand 3%
% Q1FY27 62% 60% 60% 56% 59% Value Added Products
FY24P
Odisha 2% Atta
B2C Sales
Rest of East 2% 34% 33% 32% 35% 32%
FY23 FY24 FY25 FY26 Q1 FY27
Strategic Objectives:
➢ Value Added Products includes Maida, Sooji, Sattu, Besan and Dalia
➢ Emerging Products includes Spices, Instant Mixes and Millet Flour
➢ Consolidate West Bengal leadership by
aggressively expanding B2C reach
Strategic Objectives:
Build a portfolio designed to address evolving consumer needs while shifting toward
➢ Scale presence in Jharkhand, Bihar, Odisha, and
the North-East to capture a highly growing higher-margin, branded products.
regional market. ➢ Extend the core staples franchise into everyday kitchen adjacencies.
➢ Move up the value chain by focusing on branded, higher-margin formats.
Building the Right Engines for Expansion
Recent Product Launches
Strengthening Regional Supply Expanding Agent and
Chain Distributor Network Whole Spices Blended Spices CTC Spices Sabudana Soya Chunks
Increasing People Strength Deeper Market Penetration
17
Diversifying Revenue Mix (2/2)
From Morning to Midnight, Ganesh in every bite…
Breakfast Dinner
Power start of the Day Healthy dinner for the family
Lunch Fasting Food
Staples that sustain families Purity for Devotional Meals
Evening Hunger For All Meals - Spices
Fuel your evening the natural way Fulfilling 100% of the Household needs
18
Robust Distribution Network
Well-established and Widespread
General Trade E- Commerce Modern Trade
Third Party Online
20
Super Stockists Marketplaces Stores of Retail Players in East
India
Regional Presence
8 Retailers
30
1000+ (East India)
Mfg. Plants C & F Agents 3.5Lac+* Quick Commerce
Distributors
Retail/ Customer
200+
Touchpoints
Stores
Own Website
Revenue Split1 78.5 % 14.2% 7.3%
Note 1: Revenue Split as attributed to B2C operations for Q1 FY27 19
*Source: Nielsen Report for West Bengal and Management Estimate for other states
Track Record of Consistent Financial Performance (1/2)
Robust Financials
In INR Millions
Revenue from Operations EBITDA & EBITDA Margin Profit After Tax & PAT Margin
16.1%
12.6% 15.1%
7.0%
10,000.0
6.6% 6.0%
8,000.0 5.0%
4.8%
6,000.0 4.4% 4.0%
4.1%
11.2%
9.8% 3.5% 3.0%
9.2%
4,000.0 8.3% 8.6%
2.0%
2,000.0
1.0%
6,108 7,591 8,505 8,714 1,885 561 634 732 856 210 271 270 354 424 125
0.0 0.0%
FY23 FY24 FY25 FY26 Q1 FY27 FY23 FY24 FY25 FY26 Q1 FY27 FY23 FY24 FY25 FY26 Q1 FY27
Net Debt/EBITDA* Net Debt/Equity ROE ROCE**
1.6 0.50
0.40 19.8%
1.1 17.9% 18.0%
16.7%
0.30
15.0%
0.6
0.20
1.5 0.6 0.7 15.8%
0.1 (0.20) 0.10 0.4 0.2 0.2 14.2% 12.7% 14.2% 13.3%
(0.8) 0.00
(0.04)
-0.4
-0.10 (0.2)
-0.9 -0.20
FY23 FY24 FY25 FY26 Q1 FY27 FY23 FY24 FY25 FY26 Q1 FY27 FY23 FY24 FY25 FY26 Q1 FY27
20
Notes: *EBITDA is calculated as profit before exception item and tax for the period/ year plus finance cost and depreciation and amortization costs as reduced by other income; **Capital Employed refers to the sum of Total Equity and Total Debt and reduced by Capital Reserve and Capital Redemption Reserve;
Track Record of Consistent Financial Performance (2/2)
Strong & Stable Cashflows
In INR Millions
Consistent Profitability with Rising Shareholder Returns Robust Operating Cash Flow Conversion
PAT DIVIDEND PAYOUT %
NCOA** NCOA/EBITDA
84.7%
90.0% 450
2.0
80.0% 400 1.4 780
70.0% 350 1.5
0.9
60.0% 47.7% 300 580
1.0 0.6
50.0% 250
380
40.0% 200
0.5
30.0% 18.5% 18.5% 150 885 461 805 180
(0.2)
20.0% 100 - -20
271 270 354 424
10.0% 50
(131)
0.0% 0 -0.5 -220
FY23 FY24 FY25 FY26* FY23 FY24 FY25 FY26
Steady PAT growth with progressive dividend payout reflects strong, cash-backed Strong EBITDA-to-cash conversion supported by efficient working capital
profitability. management and cash & carry model.
K E Y H I G H L I G H T S
Cash & Carry Distribution
Low Working Capital Intensity High Free Cash Flow Generation
Model
Rapid cash realization and strengthened liquidity Optimized working capital intensity, backed by disciplined Consistent cash generation supports growth
driven by a strict cash-and-carry distribution inventory turns and tight receivables management, driving investments while maintaining dividend payouts.
framework. a highly efficient cash conversion cycle of 43 days.
*Recommended final dividend of ₹2.50 per share for FY26 is subject to shareholder approval at the ensuing AGM. Total FY26 dividend stands at ₹5.00 per share, inclusive of ₹2.50 interim dividend already paid. 21
** Net cash from operating activities
Innovative & Consistent Brand Building (1/3)
Smart Spend, Strong Leadership
Established brand awareness through
Ability to competitively price their products
frugal marketing investments
Strategic and targeted advertisement
Price setter) in value added flour Offering products at a competitive price ,
spend to enhance brand prominence by
categories by virtue of its status as a while maintaining quality at par with both
focusing on high visibility marketing
pioneer of these categories in India PAN India and regional brands serving as a
campaigns
testament to consumers' trust in the quality
3.1% of the products
1.9%
1.4% 1.3%
1.1%
Scaling the Portfolio Beyond Everyday Core Staples
FY23 FY24 FY25 FY26 Q1
FY27
Protein based Portfolio: Entered the protein-led staples category with the
Ad spend step-up to 3.1% of Revenue launch of Soya Chunks, strengthening the everyday kitchen essentials
in Q1 FY27 driven by a targeted portfolio
Ganesh Sattu campaign featuring
Brand Ambassador Ravindra Jadeja. Scaling the ethnic snacks portfolio: Following a successful soft launch,
broader commercial rollout planned during Q3FY27
Increasing spend across digital channels
Expanding Portfolio: Launching the packaged sweets category by
to strategically build brand awareness
leveraging the existing Amta manufacturing unit
100% of General trade sales are on advance basis demonstrating trust in Ganesh’s brand power (2)
22
Note 1: Market share as per Technopak Report Note 2: Spices Portfolio has a credit period of 15- 30 days
Innovative & Consistent Brand Building (2/3)
Category Focused Marketing Initiatives - Sattu
Print Advertisement
Digital Campaigns
Television - News Channel
Our partnership with cricket icon Ravindra Jadeja as brand ambassador has sharply elevated brand visibility and consumer connect, harnessing his
nationwide appeal to deepen market presence
23
Innovative & Consistent Brand Building (3/3)
360° Marketing Efforts
Targeted TV Commercials Digital Commercials Local Branding
Digital Marketing and Quick Commerce
Print Advertisement
24
Pioneering Growth Backed by Proven Leadership (1/2)
Board of Directors: Experience that delivers results
Devansh Mimani
Manish Mimani Madhu Mimani
Non-Executive Director
Managing Director Non-Executive Director
Graduate in Business and Economics
Joined M/s Ganesh Flour Mills in 1994 Associated with the company for over
from Brandeis University, plays a key
and incorporated the company in two decades, she joined the Board in
role in expanding product categories
2000, driving its growth and 2000, was reappointed in 2016, and
and strengthening brands presence in
corporatisation. He also served on the continues to guide treasury and
modern trade and across new
boards of Backbone Sales, Srivaru strategic functions. She also serves on
geographies.
Agro, and Srivaru Poly Packs Pvt. Ltd. the boards of Backbone Sales, Srivaru
Agro, and Srivaru Poly Packs Pvt. Ltd.
Rajiv Nitin Mehta Richa Manoj Goyal Ganesh Shenoy Basavanagudi
Independent Director Independent Director Independent Director
A seasoned business leader with over Graduate in Commerce and Law from A Chartered and Cost Accountant with
20 years of experience spanning Gujarat University. A Fellow Member of a commerce degree from Bangalore
across consumer brands, retail, venture the Institute of Company Secretaries of University and over 25 years of
capital and corporate governance. He India and a certified trademarks agent, experience in finance. He has worked
she heads her own firm, Richa Goyal & with A.F. Ferguson & Co., Larsen &
has worked with Puma South Asia and
Associates. Toubro Ltd., and served as Director –
served as CEO of Arvind Sports and
Finance & IT at MTR Foods Pvt. Ltd.
Fashion Brands Ltd.
25
Pioneering Growth Backed by Proven Leadership (2/2)
Core Management Team
Amit Tapadia Narendra Mishra
Chief Financial Officer Company Secretary & Compliance Officer
Been with the company since 2019 and Joined in 2023. A Commerce and Law graduate
oversees finance and accounts. A Chartered and Associate Member of ICSI, he has 8 years of
Accountant with a commerce degree from the experience in secretarial and compliance roles
University of Calcutta, he has 10 years of with Karini Group and Mukesh Hyundai
experience, including roles at Flipkart, Lifestyle (Frostees Export India Pvt. Ltd.)
International, & S.R. Batliboi & Associates LLP.
Abhishek Pareek Sunil Chandak Indrani Mitra
Chief Commercial Officer Chief Manager (Operations) Head of Human Resources
Been with the company since 2018 and Associated with the company since Been with the company since 2019,
oversees finance, accounts, and 2012. He oversees production and she oversees all HR functions and
commercial operations. A qualified factory operations. With 12 years of brings 19 years of HR management
Cost and Chartered Accountant with 13 experience, all spent with the experience. She holds degrees from the
years of experience, he previously company, he has grown through the University of Calcutta and Jadavpur
worked with Asian Hotels (East) Ltd. in ranks and played a key role in University, and previously led HR
corporate finance and accounts strengthening operational excellence operations at Kankei Relationship
Marketing Services Pvt. Ltd.
26
Strategic Roadmap
Focused Growth Strategies
Geographic Expansion & Product Diversification & Brand Visibility and Operational Efficiency &
Distribution network Portfolio Enhancement Marketing Campaigns Technology Adoption
Strengthen B2C presence Roll out integrated Target operational cost
Diversify into
across existing markets by campaigns across TV, savings by installing
categories which are
expanding into tier 2/3 radio, print, digital, and solar power across four
in sync with the
cities and rural regions. outdoor channels to manufacturing units.
existing ones
enhance brand visibility.
Expand footprint beyond Launches addressing Prioritize BTL activities Implement Warehouse
West Bengal by health-conscious and for stronger advertising Management System
accelerating entry into convenience-focused to maximize local (WMS) to improve
adjacent markets consumers. impact. supply chain
transparency and reduce
Jharkhand, Odisha, Bihar
stock-outs
and Assam.
Leverage consumer
Scaling distribution by Back cultural events and Strengthen use of Botree
adding new distributors feedbacks to develop regional festivals across DMS, SFA apps, and SAP
and C&F partners. value packs and East India to strengthen S/4 HANA Cloud to
regional flavors to emotional connect and improve order-to-cash
augment market share. consumer engagement. cycle efficiency
27
Summary of Profit & Loss Statement
Sustained Growth Momentum with Healthy Profitability
In INR Millions
Particulars Q1 FY27 Q1 FY26 YoY (%) Q4 FY26 QoQ (%) FY26
Revenue from Operations 1,885 2,030 (7.1%) 2,180 (13.5%) 8,714
EBITDA1 210 213 (1.2%) 175 20.2% 856
EBITDA Margins (%)2 11.2% 10.5% 66 bps 8.0% 313 bps 9.8%
Depreciation 55 58 (5.7%) 61 (10.7%) 237
Other Income 18 12 53.6% 22 (17.9%) 55
Finance Cost 6 39 (85.2%) 7 (20.6%) 105
Profit Before Tax 168 128 31.1% 129 30.7% 568
Profit After Tax 125 95 31.4% 95 31.3% 424
PAT Margins (%) 6.6% 4.7% 191 bps 4.3% 225 bps 4.8%
Diluted EPS (in ₹) 3.14 2.62 19.8% 2.37 32.5% 11.04
Notes: 1. EBITDA has been calculated as aggregate of the restated profit before tax, depreciation and amortization expenses and finance cost, less other income, for the relevant period/year.
29
2. EBITDA Margin (%) is calculated as EBITDA divided by Revenue from operations.
Shareholding Pattern
As on 30th June 2026
2.2%
2.3%
Promoter & Promoter Group
3.2%
5.5% RI / HUF
9.5%
Body Corporates
DIIs
11.7%
Others
65.6% FIIs
HNI
30
THANK YOU
C o mpa ny C o nta ct
Mr. Narendra Mishra
Tel: +91-99582 87643
Email: narendra.mishra@ganeshconsumer.com
I nvesto r Rel a ti o ns C o nta ct
Mr. Yash Kochar
Tel: +91-98366 17112
Email: ir@uirtus.in
Cash Conversion Cycle
Particulars Q1 FY27^ FY26 FY25 FY24
Receivable days1 6 4 3 4
Inventory days2 53 34 31 39
Payable days3 16 15 13 12
Cash Conversion Cycle4 43 23 21 31
Notes : 1. Receivables days is calculated by multiplying the average accounts receivables by 365 and dividing the result by the revenue from operations for the year respectively. 2. Inventory days is calculated by multiplying the average inventory by 365
and dividing the result by the revenue from operations for the year respectively 3. Payables days is calculated by multiplying the average accounts payable by 365 and dividing the result by the revenue from operations for the year respectively 4. Cash
conversion cycle is calculated by adding Receivables days to Inventory days reduced by Payables days respectively. ^ Annualised
33
Capacity Utilization
Particulars Q1 FY27 FY26 FY25
Installed Capacity (TPA)* 3,74,508** 368,126 320,000
Capacity Utilization (%) 43.9% 57.4% 57.5%
*Excludes Capacity and Utilization of the Hyderabad Plant which is engaged in Job Work for an FMCG Player; **Q1 FY27 capacity is shown on an annualized basis for comparability with FY25 & FY26.
34
Key Performance Indicators
In INR Millions
Particulars Q1 FY27 FY26 FY25 FY24
Financial KPIs
Revenue from operations (₹) 1,885.38 8,714.06 8,504.62 7,590.73
Revenue from operations (YoY) (%) (7.10%) 2.46% 12.04% 24.29%
Gross Profit (₹) 536.76 2,218.53 1,890.62 1,622.65
Gross profit margin (%) 28.47% 25.46% 22.23% 21.38%
EBITDA (₹) 210.27 855.55 732.38 633.54
EBITDA margin (%) 11.15% 9.82% 8.61% 8.35%
PAT (₹) 125.19 423.86 354.32 269.92
PAT margin (%)1 6.64% 4.86% 4.17% 3.56%
ROE (%)^ 13.29% 14.19% 15.81% 12.68%
ROCE (%)^ 17.98% 17.91% 19.81% 16.73%
Adjusted ROCE (%)2^ 20.55% 23.60% 23.49% 21.19%
Debt to Equity Ratio (in times) 0.02 0.02 0.22 0.17
Cash conversion cycle (in days)^ 43 23 21 31
Operational KPIs
Number of SKUs 256 254 232 176
Number of Manufacturing Facilities 8 7 7 7
Number of Distributors 1,003 1,076 972 881
Notes: 1. PAT Margin is calculated as profit for the year divided by revenue from operations; 2. Adjusted ROCE has been calculated by taking into account specific adjustments to capital employed. including removing loans given to related parties, 35
subsidy receivable, CWIP, capital advances, cash & cash equivalents or other non-operating items that do not reflect the core operating efficiency of the business. ^ Annualised
IPO Funds Utilization
In INR Millions
AMOUNT AS
OBJECTS OF THE ISSUE AS PROPOSED AMOUNT UTILIZED AS AMOUNT UN-UTILIZED
PER PROSPECTUS IN THE OFFER ON 30.06.2026 AS ON 30.06.2026
DOCUMENT
Prepayment and/or repayment of all or
a portion of certain outstanding 600.0 600.0 Nil
borrowings availed by Company
Funding capital expenditure for the
setting up of a roasted gram flour and
450.0 24.6 425.4
gram flour manufacturing unit in
Darjeeling, West Bengal
General corporate purposes* 147.1 107.4 39.7
* Amount to be utilized for General corporate purposes as per the Prospectus is Rs. 1,420 Lakhs. The incremental amount of Rs 51.05 Lakhs is due to the revision in the estimated IPO expenses.
36