Gulshan Polyols Ltd

Gulshan Polyols Ltd

₹ 194 -7.82%
21 May 2:03 p.m.
About

Gulshan Polyols Ltd is one of the largest manufacturers of Precipitated Calcium Carbonate and Sorbitol in India. It is a market leader with a substantial market share in the respective segments [1]

Key Points

Market Leadership
The company is a leading player in India's mineral and grain processing sectors. It was the first in the country to introduce the concept of an on-site PCC manufacturing plant for the Value-Added Paper (VAP) industry. [1]

  • Market Cap 1,213 Cr.
  • Current Price 194
  • High / Low 264 / 141
  • Stock P/E 49.0
  • Book Value 98.3
  • Dividend Yield 0.15 %
  • ROCE 6.47 %
  • ROE 4.12 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter

Cons

  • Company has a low return on equity of 4.59% over last 3 years.
  • Dividend payout has been low at 7.97% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
292.23 270.18 276.38 331.62 301.54 293.47 307.83 371.08 405.59 454.56 440.47 609.76 514.88
267.32 248.86 257.34 309.60 275.74 281.64 291.60 360.29 386.26 431.03 424.18 583.00 485.99
Operating Profit 24.91 21.32 19.04 22.02 25.80 11.83 16.23 10.79 19.33 23.53 16.29 26.76 28.89
OPM % 8.52% 7.89% 6.89% 6.64% 8.56% 4.03% 5.27% 2.91% 4.77% 5.18% 3.70% 4.39% 5.61%
1.10 0.47 1.35 2.17 3.08 3.78 3.98 3.02 1.19 2.18 1.16 0.74 0.78
Interest 1.38 1.09 1.49 1.52 2.03 2.12 3.93 0.52 3.52 4.28 7.45 7.88 8.78
Depreciation 8.48 7.06 7.12 7.21 7.34 8.78 9.53 5.27 8.78 8.44 8.07 10.52 10.36
Profit before tax 16.15 13.64 11.78 15.46 19.51 4.71 6.75 8.02 8.22 12.99 1.93 9.10 10.53
Tax % 27.74% 25.29% 22.84% 23.35% 25.42% 6.58% 66.81% 42.02% 22.51% 25.33% 33.16% 25.49% 33.43%
11.67 10.19 9.09 11.85 14.55 4.39 2.24 4.65 6.37 9.71 1.29 6.78 7.02
EPS in Rs 1.97 1.63 1.46 1.90 2.33 0.70 0.36 0.75 1.02 1.56 0.21 1.09 1.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
319 395 433 492 616 674 621 766 1,101 1,180 1,378 2,020
273 341 372 431 547 590 552 636 951 1,092 1,320 1,924
Operating Profit 47 54 61 60 69 84 69 130 150 88 58 95
OPM % 15% 14% 14% 12% 11% 12% 11% 17% 14% 7% 4% 5%
2 3 5 4 2 2 1 3 2 7 12 5
Interest 4 3 4 6 11 14 11 7 5 6 10 28
Depreciation 14 23 24 28 36 44 31 33 32 29 32 37
Profit before tax 32 32 38 30 24 27 27 94 115 60 28 35
Tax % 14% 20% 19% 10% 23% 21% 25% 34% 26% 25% 36% 28%
27 25 30 27 18 21 21 62 85 45 18 25
EPS in Rs 5.37 4.76 5.49 4.86 3.24 3.81 3.66 11.03 14.40 7.27 2.83 3.97
Dividend Payout % 8% 12% 11% 39% 18% 15% 16% 8% 12% 6% 11% 8%
Compounded Sales Growth
10 Years: 18%
5 Years: 27%
3 Years: 22%
TTM: 47%
Compounded Profit Growth
10 Years: 0%
5 Years: 4%
3 Years: -34%
TTM: 112%
Stock Price CAGR
10 Years: 14%
5 Years: 57%
3 Years: -4%
1 Year: 7%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 5%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 4 4 5 5 5 5 5 5 5 5 6 6
Reserves 167 197 229 254 268 286 301 372 530 570 584 607
94 100 148 163 182 145 101 11 112 248 349 393
54 47 54 79 58 47 51 120 126 164 217 317
Total Liabilities 319 348 436 502 513 482 457 507 774 988 1,157 1,323
147 142 145 198 298 273 260 244 240 279 521 718
CWIP 2 7 97 97 1 5 3 3 91 278 182 4
Investments 12 5 7 8 6 0 0 1 26 23 15 17
157 195 187 199 209 204 193 259 417 408 438 584
Total Assets 319 348 436 502 513 482 457 507 774 988 1,157 1,323

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
32 50 55 81 42 87 44 98 61 16 66 42
-69 -11 -116 -81 -37 -17 -16 -5 -136 -247 -158 -54
41 -2 36 -1 -4 -48 -51 -77 170 124 88 13
Net Cash Flow 4 37 -25 -2 2 22 -23 16 95 -108 -4 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 68 59 62 66 69 54 48 47 40 44 44 33
Inventory Days 128 87 76 116 84 54 89 89 69 82 62 0
Days Payable 52 36 39 68 38 21 30 55 37 42 52
Cash Conversion Cycle 144 110 99 115 115 87 108 80 72 84 54 33
Working Capital Days 79 61 54 56 60 52 66 57 48 70 59 52
ROCE % 15% 12% 12% 9% 8% 9% 9% 25% 23% 9% 3% 6%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
66.65% 66.65% 66.65% 66.65% 66.65% 66.72% 66.72% 66.72% 66.68% 66.68% 66.71% 66.71%
0.54% 0.34% 0.33% 0.31% 0.01% 0.00% 0.00% 0.01% 0.00% 0.50% 0.00% 0.06%
3.30% 3.52% 3.52% 3.53% 3.52% 1.23% 1.20% 0.58% 0.40% 0.80% 1.11% 0.67%
29.29% 29.24% 29.27% 29.27% 29.58% 31.80% 31.77% 32.36% 32.66% 31.77% 31.88% 32.27%
0.23% 0.23% 0.23% 0.25% 0.25% 0.26% 0.31% 0.33% 0.27% 0.27% 0.30% 0.30%
No. of Shareholders 31,32831,35730,44729,37732,99734,24834,71835,99235,90938,81939,87337,960

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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