Gulshan Polyols Ltd
Incorporated in 1981, Gulshan Polyols Ltd is a manufacturer of Ethanol and other speciality
chemicals.[1]
- Market Cap ₹ 1,177 Cr.
- Current Price ₹ 189
- High / Low ₹ 220 / 122
- Stock P/E 27.6
- Book Value ₹ 103
- Dividend Yield 0.16 %
- ROCE 6.30 %
- ROE 3.91 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
Cons
- Company has a low return on equity of 4.43% over last 3 years.
- Company might be capitalizing the interest cost
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 1,101 | 1,180 | 1,378 | 2,020 | 2,260 | |
| 951 | 1,092 | 1,320 | 1,923 | 2,126 | |
| Operating Profit | 150 | 88 | 58 | 97 | 134 |
| OPM % | 14% | 7% | 4% | 5% | 6% |
| 2 | 7 | 12 | 3 | 4 | |
| Interest | 5 | 6 | 10 | 28 | 33 |
| Depreciation | 32 | 29 | 32 | 37 | 43 |
| Profit before tax | 115 | 60 | 28 | 34 | 62 |
| Tax % | 26% | 25% | 36% | 28% | |
| 85 | 45 | 18 | 25 | 43 | |
| EPS in Rs | 14.40 | 7.24 | 2.85 | 3.96 | 6.84 |
| Dividend Payout % | 12% | 6% | 11% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 22% |
| TTM: | 35% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -35% |
| TTM: | 93% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 6% |
| 3 Years: | -4% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 6 | 6 | 6 |
| Reserves | 530 | 570 | 584 | 607 | 634 |
| 117 | 248 | 349 | 392 | 453 | |
| 122 | 165 | 217 | 318 | 197 | |
| Total Liabilities | 774 | 988 | 1,156 | 1,323 | 1,291 |
| 240 | 279 | 521 | 718 | 708 | |
| CWIP | 91 | 278 | 182 | 4 | 4 |
| Investments | 26 | 23 | 15 | 17 | 18 |
| 417 | 408 | 438 | 584 | 560 | |
| Total Assets | 774 | 988 | 1,156 | 1,323 | 1,291 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 61 | 15 | 66 | 42 | |
| -136 | -247 | -158 | -54 | |
| 170 | 124 | 88 | 13 | |
| Net Cash Flow | 95 | -107 | -4 | 1 |
| Free Cash Flow | -52 | -238 | -113 | -15 |
| CFO/OP | 60% | 37% | 125% | 47% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 40 | 44 | 44 | 33 |
| Inventory Days | 69 | 82 | 62 | 76 |
| Days Payable | 37 | 42 | 52 | 60 |
| Cash Conversion Cycle | 72 | 84 | 54 | 49 |
| Working Capital Days | 26 | 33 | 27 | 9 |
| ROCE % | 9% | 3% | 6% |
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 ・Standalone data |
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| Calcium Carbonate Production Volume MT ・Standalone data |
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| Sorbitol & Sweetener Production Volume MT ・Standalone data |
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| Ethanol Sales Volume Cr Ltr ・Standalone data |
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| Calcium Carbonate Market Share (National) % ・Standalone data |
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| Grain Processing Production Volume (Starch) MT ・Standalone data |
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| Ethanol Blending Ratio Segment Target % ・Standalone data |
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| Number of Manufacturing Plants Number ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10h - The Investor/Analyst Earnings Conference Call of the Company would be held on Friday, May 22, 2026, for the period ended March 31, 2026.
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Board Meeting Intimation for Approving The Audited Financial Results Of The Company For The Quarter And Financial Year Ended On March 31, 2026 And To Recommend The Final Dividend, If Any For The Financial Year 2025-2026.
10h - Board meeting on May 22, 2026 to approve FY26 audited results and consider final dividend.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
13 May - Allocated additional 2,923 KL ethanol supply to OMCs for Q3 ESY 2025-26, valued at ₹18.7 crore.
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Announcement under Regulation 30 (LODR)-Change in Management
6 May - Mr. Mohan Lal Bansal resigned as Factory Manager, Muzaffarnagar Plant, effective May 6, 2026.
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Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer
24 Apr - Ms. Preeti Singhal resigns as Company Secretary, Compliance Officer and Nodal Officer from April 23, 2026.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025TranscriptAI SummaryPPT
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May 2025Transcript PPT REC
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Mar 2025Transcript PPT REC
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Feb 2025TranscriptAI SummaryPPT
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Jan 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptPPTREC
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Aug 2022TranscriptAI SummaryPPT
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Mar 2022TranscriptAI SummaryPPT
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Sep 2021TranscriptAI SummaryPPT
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Sep 2021TranscriptAI SummaryPPT
Business Overview:[1]
Gulshan Polyols is a manufacturer
of Ethanol/ Biofuel, Grain, Mineral
based specialty products