Gulshan Polyols Ltd
Incorporated in 1981, Gulshan Polyols Ltd is a manufacturer of Ethanol and other speciality
chemicals.[1]
- Market Cap ₹ 1,141 Cr.
- Current Price ₹ 183
- High / Low ₹ 211 / 122
- Stock P/E 10.6
- Book Value ₹ 115
- Dividend Yield 0.16 %
- ROCE 18.3 %
- ROE 16.1 %
- Face Value ₹ 1.00
Pros
- Company's median sales growth is 15.6% of last 10 years
- Company's working capital requirements have reduced from 15.9 days to 11.1 days
Cons
- Company has a low return on equity of 7.64% 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 395 | 433 | 492 | 616 | 674 | 621 | 766 | 1,101 | 1,180 | 1,378 | 2,020 | 2,312 | |
| 341 | 372 | 431 | 547 | 590 | 552 | 635 | 951 | 1,092 | 1,320 | 1,923 | 2,083 | |
| Operating Profit | 54 | 61 | 60 | 69 | 84 | 69 | 131 | 150 | 88 | 58 | 97 | 230 |
| OPM % | 14% | 14% | 12% | 11% | 12% | 11% | 17% | 14% | 7% | 4% | 5% | 10% |
| 3 | 5 | 4 | 2 | 2 | 1 | 2 | 2 | 7 | 12 | 3 | 2 | |
| Interest | 3 | 4 | 6 | 11 | 14 | 11 | 7 | 5 | 6 | 10 | 28 | 41 |
| Depreciation | 23 | 24 | 28 | 36 | 44 | 31 | 33 | 32 | 29 | 32 | 37 | 45 |
| Profit before tax | 32 | 38 | 30 | 24 | 27 | 27 | 94 | 115 | 60 | 28 | 35 | 145 |
| Tax % | 20% | 19% | 10% | 23% | 21% | 25% | 33% | 26% | 25% | 36% | 28% | 26% |
| 25 | 30 | 27 | 18 | 21 | 21 | 62 | 85 | 45 | 18 | 25 | 107 | |
| EPS in Rs | 4.76 | 5.49 | 4.86 | 3.24 | 3.81 | 3.66 | 11.09 | 14.40 | 7.27 | 2.83 | 3.97 | 17.18 |
| Dividend Payout % | 12% | 11% | 39% | 18% | 15% | 16% | 8% | 12% | 6% | 11% | 8% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 25% |
| 3 Years: | 25% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 12% |
| 3 Years: | 35% |
| TTM: | 354% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 6% |
| 3 Years: | -6% |
| 1 Year: | -1% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 8% |
| Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 |
| Reserves | 197 | 229 | 254 | 268 | 286 | 301 | 361 | 530 | 570 | 584 | 607 | 712 |
| 100 | 148 | 163 | 182 | 145 | 101 | 11 | 112 | 248 | 349 | 392 | 313 | |
| 47 | 54 | 79 | 58 | 47 | 51 | 120 | 126 | 164 | 217 | 318 | 272 | |
| Total Liabilities | 348 | 436 | 502 | 513 | 482 | 457 | 496 | 774 | 988 | 1,157 | 1,323 | 1,304 |
| 142 | 145 | 198 | 298 | 273 | 260 | 241 | 240 | 279 | 521 | 718 | 696 | |
| CWIP | 7 | 97 | 97 | 1 | 5 | 3 | 3 | 91 | 278 | 182 | 4 | 7 |
| Investments | 5 | 7 | 8 | 6 | 0 | 0 | 0 | 26 | 23 | 15 | 17 | 47 |
| 195 | 187 | 199 | 209 | 204 | 193 | 252 | 417 | 408 | 438 | 584 | 554 | |
| Total Assets | 348 | 436 | 502 | 513 | 482 | 457 | 496 | 774 | 988 | 1,157 | 1,323 | 1,304 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 50 | 55 | 81 | 42 | 87 | 44 | 106 | 61 | 16 | 66 | 42 | 207 | |
| -11 | -116 | -81 | -37 | -17 | -16 | -12 | -136 | -247 | -158 | -54 | -60 | |
| -2 | 36 | -1 | -4 | -48 | -51 | -79 | 170 | 124 | 88 | 13 | -121 | |
| Net Cash Flow | 37 | -25 | -2 | 2 | 22 | -23 | 15 | 95 | -108 | -4 | 0 | 27 |
| Free Cash Flow | 28 | -62 | -3 | 2 | 64 | 28 | 93 | -52 | -238 | -113 | -14 | 181 |
| CFO/OP | 104% | 103% | 143% | 66% | 113% | 73% | 93% | 60% | 37% | 125% | 48% | 97% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 59 | 62 | 66 | 69 | 54 | 48 | 47 | 40 | 44 | 44 | 33 | 32 |
| Inventory Days | 87 | 76 | 116 | 84 | 54 | 89 | 89 | 69 | 82 | 62 | 76 | 0 |
| Days Payable | 36 | 39 | 68 | 38 | 21 | 30 | 55 | 37 | 42 | 52 | 60 | |
| Cash Conversion Cycle | 110 | 99 | 115 | 115 | 87 | 108 | 80 | 72 | 84 | 54 | 49 | 32 |
| Working Capital Days | 21 | 30 | 12 | 15 | 12 | 31 | 57 | 26 | 33 | 27 | 9 | 11 |
| ROCE % | 12% | 12% | 9% | 8% | 9% | 9% | 25% | 23% | 9% | 3% | 6% | 18% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ethanol Installed Capacity KLPD |
|
|||||||||||
| Calcium Carbonate Production Volume MT |
||||||||||||
| Sorbitol & Sweetener Production Volume MT |
||||||||||||
| Ethanol Sales Volume Cr Ltr |
||||||||||||
| Calcium Carbonate Market Share (National) % |
||||||||||||
| Grain Processing Production Volume (Starch) MT |
||||||||||||
| Ethanol Blending Ratio Segment Target % |
||||||||||||
| Number of Manufacturing Plants Number |
||||||||||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 May - The Investor/Analyst Call of the Company will be held on June 03, 2026 and June 04, 2026.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
27 May - Please find the enclosed Transcript of Earnings Call held on May 22, 2026 for the quarter and financial year ended March 31, 2026.
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
27 May - Gulshan Polyols filed its FY26 secretarial compliance report; no material non-compliances or SEBI actions reported.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
23 May - Newspaper publication of Audited Financial Results of the Company for the quarter and year ended March 31, 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 May - Audio recording of investor call held on May 22, 2026 uploaded on company website.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
Concalls
-
May 2026Transcript PPT
-
Feb 2026Transcript PPT
-
Nov 2025Transcript PPT REC
-
Aug 2025TranscriptAI SummaryPPT
-
May 2025Transcript PPT REC
-
Mar 2025Transcript PPT REC
-
Feb 2025TranscriptAI SummaryPPT
-
Jan 2023TranscriptAI SummaryPPT
-
Nov 2022TranscriptPPTREC
-
Aug 2022TranscriptAI SummaryPPT
-
Mar 2022TranscriptAI SummaryPPT
-
Sep 2021TranscriptAI SummaryPPT
-
Sep 2021TranscriptAI SummaryPPT
Business Overview:[1]
Gulshan Polyols is a manufacturer
of Ethanol/ Biofuel, Grain, Mineral
based specialty products