Ganesh Benzoplast (BSE) disclosed on September 29 that it has signed definitive agreements to sell its liquid storage tank business—covering terminals at Jawaharlal Nehru Port, Cochin and Goa—to Cisternina Logistics Private Ltd for ₹1,154 crore, subject to regulatory and shareholder approvals.
The liquid storage unit alone contributed ₹161.65 crore, or 39.29%, of the company’s FY26 consolidated revenue, and had a net worth of ₹257.79 crore, 41.72% of total equity value.
The rail logistics arm, operating out of Daund via Infrastructure Logistic Systems Ltd, added ₹27.67 crore (6.73%) to FY26 revenue and carried a net worth of ₹19.63 crore, 3.18% of the group’s equity.
CLPL, backed by KKR‑managed funds, will also engage Ganesh Benzoplast for EPC work on pipelines and tanks at the JNP facility, a contract expected to generate ₹280 crore in revenue over the next 18–24 months—more than the net worth of the liquid unit alone.
Management said the proceeds will be earmarked to expand chemical manufacturing, food preservatives, lube oil additives and higher‑value EPC projects; a buyback is also under consideration.
After the announcement, Ganesh Benzoplast shares dipped 0.036% to ₹137.00 on the BSE, reflecting a modest market reaction amid expectations that the divestiture will streamline operations and unlock value for shareholders.