As part of this investment, the company has acquired 2,45,000 equity shares of GRCPL, each with a face value of Rs 10, amounting to a total consideration of Rs 2.45 crore.
The investment is the part of the company’s strategic investment to strengthen its raw material supply chain of PET waste.
GRCPL being associate company of the company, the acquisition would fall within related party transaction and has been carried out in compliance with all applicable laws. Further, Gopal Agarwal (chief financial officer of the company) and Prashant Khandelwal (chief financial officer of a wholly owned subsidiary) are first directors of the entity.
There is no change in control with such investment as the company will continue to hold 49% stake in GRCPL and GRCPL will remain an associate company of the company.
Ganesha Ecosphere engaged in manufacturing of Recycled Polyester Staple Fiber (RPSF), Dyed yarn and Recycled Spun Yarn. It has also expanded its product portfolio to include rPET chips and rPET filament yarn.
The company’s consolidated net profit surged 133.4% to Rs 29.71 crore in Q3 FY25 as compared with Rs 12.73 crore in Q3 FY24. Net sales jumped 39.7% YoY to Rs 397.80 crore during the quarter ended 31st December 2024.
The counter rallied 4.38% to settle at Rs 1,617.65 on Tuesday, 15 April 2025.