The shares of this ethanol manufacturer gained 8.7 percent to ₹223.20 per share on Monday after the company received a grant to set up a 250 KLPD Capacity ethanol plant in Assam.
At 2:20 p.m., Gulshan Polyols Ltd. shares were trading at ₹206.90 a share, a 0.73 percent increase over the previous close price. The company has a market capitalization of ₹1,290 crore on the stock exchange.
The Pollution Control Board of Assam has issued the company a ‘Consent to Operate’ (CTO) in accordance with Section 25 of the Water (Prevention & Control of Pollution) Act, 1974, and Section 21 of the Air (Prevention & Control of Pollution) Act, 1981, for its Grain-based Ethanol Plant located in Goalpara, Assam.
The Assam Pollution Control Board has approved the Consent to Operate, valid until March 31, 2025, under the mentioned regulations. This approval is contingent upon meeting the specified terms and conditions outlined in the consent order for establishing a 250 KLPD Capacity Ethanol Project in District Goalpara, Assam.
Gulshan Polyols Ltd. is one of the largest manufacturers of precipitated calcium carbonate and sorbitol in India. It is India’s leading manufacturer of Ethanol/Biofuel, Grain, and Mineral based specialty products.
The firm has witnessed a 12 percent annual growth in revenue, climbing from ₹331 crore in Q3FY23 to ₹371 crore in Q3FY24. Conversely, the net profit has seen a 61 percent decrease, dropping from ₹11.5 crore to ₹4.65 crore.
Over the past month, Gulshan Polyols Ltd shares have seen a 3.5% increase, while over the course of the last 12 months, they have experienced a 7% decline.
In the December quarter filing, the company outlined its intention to allocate a total of ₹4,500 MN for capital expenditure over the upcoming 12 months. Within this allocation, ₹3,000 MN is earmarked for establishing a 500 KLPD Ethanol plant in the state of M.P., while ₹1,500 MN has been dedicated to expanding aggregate capacities within the grain processing division.
By FY25 the Company plans to expand its ethanol capacity to 810 KLPD.Gulshan’s product portfolio comprises of starch sugars and native starches, calcium carbonate; agro based animal feed, alcohol business & on-site PCC plants.
Written by Omkar Chitnis
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