Gulshan Polyols Ltd
Incorporated in 1981, Gulshan Polyols Ltd is a manufacturer of Ethanol and other speciality
chemicals.[1]
- Market Cap ₹ 961 Cr.
- Current Price ₹ 154
- High / Low ₹ 224 / 136
- Stock P/E 22.5
- Book Value ₹ 103
- Dividend Yield 0.19 %
- 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: | 9% |
| 5 Years: | 19% |
| 3 Years: | -8% |
| 1 Year: | -27% |
| 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 |
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% |
Documents
Announcements
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Intimation Regarding Media Interaction With ET Now.
1d - Nov 07, 2025: Joint MD Aditi Pasari interviewed on ET Now; no UPSI; video linked.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Newspaper Publication of Unaudited Standalone and Consolidated Financial Results for Quarter and Half year ended September 30, 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Investor Presentation as per SEBI (LODR) Regulation, 2015
- Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2025. 2d
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Board Meeting Outcome for Outcome Of The Board Meeting And Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2025.
2d - Board approved unaudited standalone and consolidated Q2/H1 results for September 30, 2025; limited review attached.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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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
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Concalls
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Nov 2025TranscriptNotesPPT
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Aug 2025TranscriptNotesPPT
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May 2025Transcript PPT REC
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Mar 2025Transcript PPT REC
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Feb 2025TranscriptNotesPPT
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Jan 2023TranscriptNotesPPT
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Nov 2022TranscriptPPTREC
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Aug 2022TranscriptNotesPPT
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Mar 2022TranscriptNotesPPT
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Sep 2021TranscriptNotesPPT
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Sep 2021TranscriptNotesPPT
Business Overview:[1][2]
GPL is a multi-location, multi-product manufacturing company that produces starch and starch derivatives, including sorbitol, calcium carbonate, ethanol (bio-fuel), country liquor, agro-based animal feed, etc.