Ganesh Benzoplast Ltd

- There is no fresh capex envisaged that would require new debt or equity funding for Ganesh Benzoplast Limited at present. - The LPG capex, including the 64,000 capacity tanks, is estimated around INR 700 to 750 crores. - The equity contribution required for the LPG project has already been secured internally by the company. - Future capex plans, such as maintenance and new tank construction, are expected to be funded through internal resources. - Therefore, no current or immediate plans for external fundraising via debt or equity were indicated in the call.

- Ganesh Benzoplast has an ongoing large LPG terminal capex at JNPT with increased capacity from 48,000 to 64,000 tons, expected to complete by October 2026. - Estimated capex for the LPG terminal is around INR 700 crores to INR 750 crores. - The company is in the process of obtaining approvals for the LPG tanks and has secured critical approvals such as from the Petroleum and Explosive Safety Organization (PESO). - There is also regular maintenance capex for existing terminals. - Plans exist for building new tanks at JNPT, subject to approvals; these expansions will be funded internally without new debt or equity. - No current plans to invest outside existing business areas. - The company is strategically transferring its EPC business into a subsidiary and is not taking fresh EPC projects at the moment.

- LST (Liquid Storage Terminal) division expects a growth of 5% to 8% annually due to maxed-out capacities and market conditions. - Chemical division aims for closer to 8% to 10% growth yearly in volume and revenue. - From Q3 FY '25 onwards, significant volume and margin growth are expected in the Chemical segment. - New LPG terminal with 64,000-ton capacity at JNPT expected operational by October 2026, contributing to step jump growth. - Realization growth of 5%-7% is anticipated in LST division, with most expected to translate to EBITDA growth. - Overall consolidated EBITDA growth of 7%-8% projected, translating to approximately INR 120 crores. - Chemical segment targeted for EBITDA margin improvement from 5%-6% to around 8%-9% in coming years.

- EBITDA is expected to grow by 7%-8% year-on-year, aiming around INR 120 crores consolidated for FY '25. - Chemical division volumes and margins are projected to improve significantly from Q3 FY '25 onward. - EBITDA margins in Chemical division anticipated to rise from 5%-6% to 8%-9%, with PAT around 6%. - LST (Liquid Storage Terminal) division expects 5%-7% realization growth, which mostly percolates to the bottom line. - Overall revenue growth for Chemical segment targeted at 8%-10%. - Capex for new LPG capacity (64,000 tons) is INR 700-750 crores, project completion expected by October 2026, which should drive step-up growth thereafter. - Single-digit growth expected in LST division until the new LPG joint venture terminal becomes operational. - Management focused on improving Chemical segment profitability and sustainably growing both divisions.

- Orders for new LPG tanks at JNPT typically start rolling in closer to the completion of the tanks. - The company already has certain capacity tied up with existing customers like BW LPG and CPIL. - Based on demand-supply assessment, there is a confirmed requirement for the new LPG capacity at JNPT. - The expansion from 40,000 to 64,000 tons capacity tanks at JNPT is underway, with approvals in place. - No specific mention of a current large orderbook or pending orders beyond ongoing contracts and tied-up capacities. - EPC business is being gradually transferred to a subsidiary, and no fresh EPC projects are being taken until the transfer finishes. - Wharfage and rental businesses continue with steady, mostly contractual revenue streams rather than new pending orders.