Ganesh Benzoplast bags contract from ANA Oils for supply of liquid storage tank

Ganesh Benzoplast said that its wholly-owned subsidiary GBL Infra Engineering Services has bagged an order worth Rs 12.23 crore from ANA Oleo.

The contract is for building sixty liquid storage tanks to be completed within a period of 9 months, for their edible oil refinery project at Krishnapatnam Port, Andhra Pradesh.

ANA Oleo, part of ANA Oils a joint venture between APICAL ($25 billion Group RGE Enterprise) & ACALPO (Singapore-based global commodity group), has entrusted the entire project with GBL IES placing them among top developers of liquid storage tanks across Indian ports.

Rishi Pilani, chairman & managing director, GBL, said, "The receipt of this order only goes to further establish GBL's credibility as one of the key players in building liquid storage terminals. We are proud to be associated with a company, as substantial as ANA Oils.

Ganesh Benzoplast is one of the leading independent liquid storage tank (LST) provider, specializing in the storage and handling of all liquid chemicals and oil products and has storage terminals at Jawaharlal Nehru Port Trust - JNPT (Navi Mumbai), Cochin Port Trust - Cochin and Mormugao Port Trust - Goa. GBL is also in the business of manufacturing speciality chemicals, food preservatives, and oil additives.

The company reported a consolidated net profit of Rs 8.51 crore in the quarter ended March 2022 as against net loss of Rs 13.11 crore during the previous quarter ended March 2021. Sales declined 2.01% YoY to Rs 95.50 crore in Q4 FY22.

The scrip slipped 3.84% to currently trade at Rs 121.40 on the BSE.

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