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Gulshan Polyols Overview

Gulshan Polyols Ltd engages in the mineral and grain processing, and distillery organizations in India and the world over. The company affords starch sugar merchandise, such as sorbitol 70% solution, dextrose monohydrate, malto dextrine powder, and liquid glucose, in addition to rice fructose syrups, brown rice syrups, and rice syrup solids; natural sweeteners; and activated, and ground calcium carbonate products. It also gives primarily grain based more neutral alcohol, ethanol from damaged meals grain, country liquor, bottling, sanitizers, an...Read More

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Gulshan Polyols Key Financials

Market Cap ₹864 Cr.

Stock P/E 35

P/B 1.3

Current Price ₹138.5

Book Value ₹ 102.7

Face Value 1

52W High ₹220

Dividend Yield 0.22%

52W Low ₹ 121.8

Gulshan Polyols Share Price

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Volume
Price

Gulshan Polyols Quarterly Price

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Gulshan Polyols Peer Comparison

Gulshan Polyols Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 293 308 371 406 455 440 610 515 593 542
Other Income 4 4 3 1 2 1 1 1 2 0
Total Income 297 312 374 407 457 442 611 516 595 542
Total Expenditure 282 292 360 386 431 424 583 486 557 500
Operating Profit 16 20 14 21 26 17 27 30 38 42
Interest 2 4 0 4 4 7 8 9 8 8
Depreciation 9 10 5 9 8 8 11 10 11 11
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 5 7 8 8 13 2 9 11 20 23
Provision for Tax 0 5 3 2 3 1 2 4 7 7
Profit After Tax 4 2 5 7 10 1 7 7 13 16
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 4 2 5 7 10 1 7 7 13 16
Adjusted Earnings Per Share 0.7 0.3 0.7 1.1 1.6 0.2 1.1 1.1 2.1 2.5

Gulshan Polyols Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1101 1180 1378 2020 2260
Other Income 2 7 12 5 4
Total Income 1103 1187 1390 2025 2264
Total Expenditure 951 1092 1320 1925 2126
Operating Profit 152 95 70 100 137
Interest 5 6 10 28 33
Depreciation 32 29 32 37 43
Exceptional Income / Expenses 0 0 0 0 0
Profit Before Tax 115 60 28 34 63
Provision for Tax 30 15 10 10 20
Profit After Tax 85 45 18 25 43
Adjustments 0 0 0 0 0
Profit After Adjustments 85 45 18 25 43
Adjusted Earnings Per Share 13.7 7.2 2.8 4 6.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 47% 22% 0% 0%
Operating Profit CAGR 43% -13% 0% 0%
PAT CAGR 39% -33% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -33% -11% 12% 9%
ROE Average 4% 5% 8% 8%
ROCE Average 6% 7% 10% 10%

Gulshan Polyols Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 535 575 590 613
Minority's Interest 0 0 0 0
Borrowings 47 128 228 170
Other Non-Current Liabilities 18 19 29 40
Total Current Liabilities 173 267 309 500
Total Liabilities 774 988 1156 1323
Fixed Assets 237 276 518 716
Other Non-Current Assets 161 330 205 40
Total Current Assets 376 382 434 568
Total Assets 774 988 1156 1323

Gulshan Polyols Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 18 113 5 1
Cash Flow from Operating Activities 61 15 66 42
Cash Flow from Investing Activities -136 -247 -158 -54
Cash Flow from Financing Activities 170 124 88 13
Net Cash Inflow / Outflow 95 -107 -4 1
Closing Cash & Cash Equivalent 113 5 1 1

Gulshan Polyols Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 13.67 7.24 2.85 3.95
CEPS(Rs) 18.86 11.85 8.04 9.95
DPS(Rs) 1.67 0.42 0.3 0.3
Book NAV/Share(Rs) 85.84 92.17 94.65 98.31
Core EBITDA Margin(%) 13.62 7.45 4.21 4.71
EBIT Margin(%) 10.87 5.62 2.75 3.11
Pre Tax Margin(%) 10.42 5.1 2.02 1.7
PAT Margin (%) 7.74 3.83 1.29 1.22
Cash Profit Margin (%) 10.68 6.26 3.64 3.07
ROA(%) 11.01 5.13 1.66 1.99
ROE(%) 15.92 8.14 3.05 4.1
ROCE(%) 18.5 9.02 4.3 6.46
Receivable days 39.63 40.39 40.84 31.74
Inventory Days 35.74 41.01 40.74 39.78
Payable days 36.79 36.11 42.74 46.65
PER(x) 21.42 23.32 56.99 45.32
Price/Book(x) 3.41 1.83 1.71 1.82
Dividend Yield(%) 0.57 0.25 0.18 0.17
EV/Net Sales(x) 1.65 1.1 0.98 0.75
EV/Core EBITDA(x) 11.92 13.63 19.23 15.03
Net Sales Growth(%) 0 7.18 16.8 46.57
EBIT Growth(%) 0 -44.61 -42.84 65.74
PAT Growth(%) 0 -47 -60.7 38.9
EPS Growth(%) 0 -47 -60.7 38.91
Debt/Equity(x) 0.21 0.43 0.59 0.64
Current Ratio(x) 2.17 1.43 1.4 1.14
Quick Ratio(x) 1.54 0.84 0.92 0.56
Interest Cover(x) 24.15 10.83 3.75 2.21
Total Debt/Mcap(x) 0.06 0.24 0.34 0.35

Gulshan Polyols Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 66.72 66.72 66.72 66.68 66.68 66.71 66.71 66.71 66.71 66.8
FII 0 0 0.01 0 0.5 0 0.06 0 0 0
DII 1.23 1.2 0.58 0.4 0.8 1.11 0.67 0.56 0.07 0
Public 32.05 32.08 32.69 32.93 32.03 32.19 32.56 32.73 33.22 33.2
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Gulshan Polyols News

Gulshan Polyols Pros & Cons

Pros

  • Company has reduced debt.

Cons

  • Company has a low return on equity of 5% over the last 3 years.
  • Debtor days have increased from 42.74 to 46.65days.
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