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Black Bear Labs GANESHCP · Q1 FY27 · investor presentation

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

6.6%
PAT Margin

Scale of reported figures

Revenue from Operations₹188 crEBITDA₹21 crProfit after Tax₹12 cr

Key financials

Revenue from Operations₹188 croreYoY (7.1%)
EBITDA₹21 croreYoY (1.2%)
Profit after Tax₹12.5 croreYoY 31.4%
PAT Margin6.6%

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
herofinancialssegmentstakeawaysquote
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