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Earnings Call

Gulshan Polyols Earnings Call: Key Takeaways

Gulshan Polyols reported FY26 revenue of ₹2,314 cr (up 14%) and PAT of ₹107 cr (up 334%), driven by its transition into a dominant grain-based ethanol player contributing 60% of revenue.

Highlights
Revenue growthFY26 revenue grew 14% to ₹2,314 crore.
MarginsEBITDA margins improved to 10% in FY26; targeting 10-12% for FY27.
Order book18 crore liters for ESY26; targeting 22 crore liters.
Demand visibilityStrong visibility from OMC off-take agreements through 2032.
Management confidenceHigh confidence in sustaining margins and achieving ₹5,000 cr revenue target.

Growth

Q4FY26 revenue ₹550 cr (+7% YoY); FY26 EBITDA ₹232 cr (+131% YoY) with margins expanding 504bps to 10%.

Outlook

FY27 revenue guidance of ₹2,600-2,800 cr; targeting 10-12% EBITDA margins; ₹500 cr mega capex planned starting FY28.

Risks

Commodity price volatility in maize and rice; dependence on government blending mandates and FCI grain allocation policies.

Source

Earnings Call filed with NSE, NSE: GULPOLY. Summary written with AI assistance from the document.

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Gulshan Polyols Ltd: key numbers

Share price
₹170.36
Market cap
₹1,063 Cr
Revenue (annual)
₹2,312 Cr
Net profit (annual)
₹107.2 Cr
P/E (TTM)
7.2×Sector 37.5×
Promoter holding
66.80%+0.00% QoQ
FII holding
0.32%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Annual General Meeting

Gulshan Polyols Annual General Meeting

Gulshan Polyols' 26th AGM on September 11, 2026 passed all seven resolutions, including a ₹1.50 per share final dividend and QIP approval. Directors were re-appointed by rotation.