Ganesh Benzoplast Limited (BSE: 500153 | NSE: GANESHBE), an end-to-end liquid logistics and chemical manufacturing company. For the third quarter of fiscal year 2026, the company reported an increase in operating income offset by a decline in net profit. On the day of the results, February 19, 2026, the company’s stock closed at ₹80.72. This represented an increase of ₹1.02, or 1.28%, from the previous close of ₹79.70.
Quarterly Results
For the third quarter of fiscal year 2026, the company generated income from operations of ₹1,053 million, an increase from ₹892 million in the prior-year quarter and ₹990 million in the preceding quarter. Total income was ₹1,130 million, compared to ₹934 million in the third quarter of fiscal year 2025.
The company reported an EBITDA of ₹296 million, down from ₹312 million year-over-year but slightly above the ₹295 million from the second quarter of fiscal year 2026. Profit after tax stood at ₹162 million, decreasing from ₹184 million in the corresponding previous quarter and ₹237 million sequentially. The profit after tax margin contracted to 15% from 21% a year earlier, while raw material costs rose to ₹323 million from ₹231 million.
Annual Performance Context
For the nine-month period ended in fiscal year 2026, the company recorded consolidated income from operations of ₹2,999 million, an increase from ₹2,744 million in the corresponding prior-year period. Total income reached ₹3,204 million, up from ₹2,870 million in the prior-year period.
Year-to-date EBITDA increased to ₹935 million from ₹893 million, while profit after tax grew to ₹581 million from ₹513 million. The nine-month profit after tax margin remained stable at 19%. On a standalone basis, the Liquid Storage Tanks division generated total revenue of ₹1,387 million. This division posted an EBITDA of ₹660 million, translating to a 58% margin for the nine-month period.
Business and Operations Update
The company maintained a liquid bulk storage capacity of 352,000 kiloliters across 98 tanks located at the JNPT, Cochin, and Goa terminals. The Cochin terminal operated at 95% occupancy, whereas the Goa terminal operated at minimum capacity due to a regional mining ban.
Infrastructure Logistic Systems Ltd, the company’s rail logistics subsidiary, reported nine-month revenue of ₹303 million. In the engineering, procurement, and construction segment, the company continues to execute a ₹1,750 million contract from JSW Jaigarh Port Ltd and an order from ANA Oils at Krishnapatnam Port. The chemical division maintained operations at its Tarapur facility, operating with a 24,000 metric tons per annum capacity.
Forward Outlook
Company issued no specific guidance.
Performance Summary
The third quarter of fiscal year 2026 resulted in higher operating and total income compared to the prior-year and preceding quarters. However, EBITDA and profit after tax declined year-over-year. Over the nine-month period, the company demonstrated an increase across operating income, EBITDA, and net profit, with stable margins and steady contributions from the storage and logistics divisions.