Ganesha Ecosphere gains after starting production of RPSF at unit in UP

Ganesha Ecosphere rose 3.92% to Rs 143 at 10:25 IST on BSE after the company started commercial production of recycled polyester staple fibre at the company's unit situated at Temra, Bilaspur, Distt. Rampur, UP from 1 December 2014.

The company made announcement after market hours yesterday, 29 December 2014.

Meanwhile, the S&P BSE Sensex was up 4.28 points or 0.02% at 27,397.89.

On BSE, so far 3,315 shares were traded in the counter as against average daily volume of 35,648 shares in the past one quarter.

The stock hit a high of Rs 143 and a low of Rs 140 so far during the day. The stock hit a record high of Rs 188.90 on 18 September 2014. The stock hit a 52-week low of Rs 30.90 on 3 March 2014.

The stock had underperformed the market over the past one month till 29 December 2014, declining 8.66% compared with Sensex's 4.52% fall. The scrip had also underperformed the market in past one quarter, falling 14.77% as against Sensex's 3% rise.

The small-cap firm has equity capital of Rs 15.19 crore. Face value per share is Rs 10.

The unit is having installed capacity of 21,000 tonnes per annum (TPA) and taking this into account the consolidated Recycled Polyester Staple Fibre (RPSF) capacity of the company will reach to 87,600 TPA.

Ganesha Ecosphere's net profit rose 10.5% to Rs 6.82 crore on 41.9% rise in total income to Rs 155.86 crore in Q2 September 2014 over Q2 September 2013.

Ganesha Ecosphere is engaged in the recycling of post consumer PET bottle waste into Recycled Poyester Staple Fibre (RPSF).

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