Ganesh Benzoplast commercialized their JNPT liquid unit which now contributes monthly revenues of 1 cr. Their LPG unit will be commercialized in 2026 and their capex cost increased (already) to 650-700 cr. Concall notes below
FY24Q3
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Anil Kumar Goel invests 32.4 cr. @162 share price
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JNPT : increased liquid capacity from 240,000 kl to 283,000 kl. 100% utilization (contributes 90% revenues ). Have 60% market share of third party operators of liquid tanks in JNPT
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Goa : expanding portfolio. It was a dedicated fuel oil terminal which is now used for edible oil, specialized chemicals, POL products, motor spirit, HSD, molasses exports. 40-50% utilization (contributes 3% revenues ) and hope to increase to 70-75%
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Cochin : 95% utilization (contributes 7% revenues ). Won a tender from IOC for ATF and ethanol for next 4-years
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After LPG expansion, they won’t have any spare land
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LPG terminal will cost 650-700 cr. (increased from 550-600 cr. earlier), Ganesh’s equity contribution will be 100 cr. (70% debt / 30% equity) EBITDA margin of 80%+. Have guaranteed revenue over 15-year period of 1,200 crores from one company (80 cr. annual)
Disclosure: Not invested (no transactions in last-30 days)
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