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Ganesha Ecosphere Defers Odisha Greenfield Project, Expands Warangal Capacity; Shares Drop 4%

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Ganesha Ecosphere (NSE:GANECOS, BOM:514167) said its wholly owned subsidiary Ganesha Eco has decided to drop its proposed greenfield recycled Polyethylene Terephthalate (rPET) granules project in Odisha for now, according to a Thursday filing on Indian bourses.

Shares of the company fell nearly 4% in Friday's trade.

On the other hand, the subsidiary approved expanding rPET granules capacity at its Warangal unit by 22,500 tons per year, raising total installed capacity to 87,000 TPA, the filing stated.

The expansion is expected to be completed by March 2027 with an investment of about 1.25 billion rupees, to be funded through a mix of debt, equity and internal accruals, it added.

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