Subscribe for Ganesh Consumer Products Ltd IPO; Anand Rathi

IPO

Ganesh Consumer Products Limited is a FMCG company headquartered in Kolkata, West Bengal and in terms of value sold in Fiscal 2025, they are the third largest brand of packaged whole wheat flour (atta) and largest brand in wheat-based derivatives (maida, sooji, dalia) in East India. In East India, in terms of value for Fiscal 2025, they are also one of the top two players for packaged sattu and besan (which are grambased flour products) with a share ~43.4% (sattu) and ~4.9% (besan) in East India market for respective products, with a growing presence in various consumer staple categories such as spices and ethnic snacks. In West Bengal they have a share of approximately 40.5% by value sold in Fiscal 2025 for wheat-based 237 products including wheat flour, maida, sooji and dalia. As on March 31, 2025, they service their general trade channel with over 28 C&F agents, 9 super stockists and 972 distributors. As on March 31, 2025, their product portfolio comprises of 42 products with 232 SKUs across their various product categories.

The company also aims to enhance brand visibility across urban, semi-urban, and rural East India through intensified marketing and advertising initiatives. Given these factors, the IPO appears fully valued and is recommended as a “SUBSCRIBE – LONG TERM.”

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