Synopsis:
Shares surged over 16% after securing an OMC contract exceeding its market cap. Strong quarterly growth, 30% revenue and profit rise, combined with expanding ethanol capacity and diversified grain-mineral operations, positions the company for robust FY26 momentum despite some grain segment margin pressure.
The shares of the prominent Ethanol product manufacturer gained up to 16 percent in today’s trading session after the company received a significant contract from oil marketing companies (OMCs) worth Rs 1,184.86 crore.
With a market capitalization of Rs 962.69 crore, the shares of Gulshan Polyols Ltd were trading at Rs 154.80 per share, increasing around 9.09 percent as compared to the previous closing price of Rs 141.90 apiece.
Significant order
The shares of Gulshan Polyols Ltd have seen bullish movement after receiving a significant contract from oil marketing companies (OMCs) like Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, and others worth Rs 1,184.86 crore for supplying 1,75,652 Kiloliters of Ethanol (ESY 2025-26).
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Operational Highlights & More
India’s ethanol blending in petrol reached 18.93% by June 30, 2025, reflecting strong market growth supported by stable prices and grain diversification. The sector, valued at USD 3 billion in 2024, is projected to reach USD 10.07 billion by 2033, growing at a 14.4% CAGR. Gulshan Polyols operates plants with capacities of 60 KLPD and 500 KLPD in Madhya Pradesh and 250 KLPD in Assam.
Gulshan Polyols Limited is a leading Indian manufacturer of grain and mineral-based specialty chemicals like ethanol, sorbitol, and calcium carbonate. The company’s primary focus is on undertaking all necessary measures to maintain, excel, and expand its business operations while ensuring stakeholder interests.
Moreover, Gulshan Polyols runs advanced grain processing units in Gujarat and Uttar Pradesh. The Gujarat site manufactures sorbitol solution and liquid glucose, securing Star Export House status for its derivative exports. The Uttar Pradesh facility, built on 50 acres, delivers native starch, fructose syrup, and calcium carbonate.
Additionally, Gulshan Polyols’ mineral processing division runs state-of-the-art facilities across six states, manufacturing a range of products including calcium carbonate and coated/uncoated minerals. Plants in Uttar Pradesh, Himachal Pradesh, Rajasthan, West Bengal, and Madhya Pradesh deliver key industrial inputs. Their diversified footprint supports high utilization, reliable supply, and tailored offerings for leading domestic and regional clients.
Gulshan Polyols expects solid momentum in FY26, with its ethanol segment aiming for full capacity and hitting the 25 Cr litre production mark. The mineral division continues to run stably at full utilization, supporting consistent results. However, the grain segment faces margin pressure due to domestic oversupply in sorbitol and starch, challenging profitability for now.
The company reported strong quarterly growth, with revenue rising 30% from Rs 455 crore in Q1FY25 to Rs 593 crore in Q1FY26. Net profit also grew 30%, reaching Rs 13 crore from Rs 10 crore, reflecting improved operational efficiency and healthy business momentum.
Written by Abhishek Singh
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