Ganesha Ecosphere Limited — Important, 31-01-2025: Agreements

Ganesha Ecosphere Limited has executed a Joint Venture Agreement with RACE Eco Chain Limited. This strategic partnership aims to establish washing plants for the production of PET flakes through the newly formed entity, Ganesha Recycling Chain Private Limited. Ganesha holds a 49% stake while RACE will own 51%. The investment is intended to bolster Ganesha's raw material supply chain, particularly for PET waste, enhancing operational efficiency.

Ganesha's revenue from operations stands at ₹975.34 crore, with a net worth of ₹1,089.15 crore, while RACE's revenue is ₹338.50 crore, and its net worth is ₹22.23 crore, according to the latest audited financials. This alliance represents a positive development for Ganesha, aligning with its growth ambitions and creating potential for increased market share in the recycling sector. Investors should watch closely for the impacts of this strategic move on the company’s operational capabilities and financial performance.