Ganesha Ecosphere Limited, a leading player in the PET recycling sector, has announced a significant strategic shift regarding its planned capacity expansion. In a formal notice dated May 21, 2026, the company informed stock exchanges that its wholly owned subsidiary, Ganesha Ecopet Private Limited, has decided to drop the previously planned greenfield project in Odisha, which was intended to manufacture 67,500 TPA of rPET chips and granules. Instead, the Board of Directors has approved an expansion of the existing rPET granules capacity at its Warangal unit by 22,500 TPA, bringing the total installed capacity at that facility to 87,000 TPA.

The decision to pivot away from the Odisha project comes as the company continues to evaluate market dynamics for its future greenfield expansion plans. The new expansion at the Warangal unit is estimated to require an investment of approximately Rs. 125 Crore and is expected to be completed by March 2027. The project will be financed through a mix of debt, equity, and internal accruals. This move is aimed at business expansion, building upon the company’s established presence in the circular economy, where it processes billions of scrap PET bottles annually into high-value products like rPET granules, Recycled Polyester Staple Fibre (RPSF), and spun yarn.

Ganesha Ecosphere Limited, incorporated in 1987 and headquartered in Kanpur, is a pioneer in the Indian PET recycling industry. The company operates as a strategic partner for global beverage brands and textile manufacturers, helping them meet sustainability targets through the use of recycled polymer. Throughout 2025, the company remained active in strengthening its operational footprint, including further investments in Ganesha Recycling Chain Private Limited and managing inspections initiated by the GST department. It is also known for its “GoRewise” brand, which focuses on high-margin, food-grade rPET produced using advanced, FDA-approved, and EFSA-positive technologies.

The company’s financial performance during the year reflected a challenging environment, as seen in its quarterly results. In the third quarter of the fiscal year 2025-2026, the company reported revenue of Rs. 361.45 Crore, representing a decline of approximately 10.32% compared to the same period in the previous year. Net profit for the same quarter stood at Rs. 4.75 Crore, marking an 84.01% decrease year-on-year. The company is widely held by both promoters and institutional investors, with notable institutional interest from entities such as SBI Mutual Fund, Tata Mutual Fund, DSP Mutual Fund, and India Capital Fund Limited.