In Monday’s trading session, shares of a leading speciality chemical and ethanol manufacturer surged 3.4 percent on BSE to Rs. 206.65, after the company received a tender to supply 2,713 Kiloliters of ethanol to Oil Marketing Companies (OMCs).
At 02:10 p.m., the shares of Gulshan Polyols Limited were trading in the green at Rs. 203.8, up by 2%, as against its previous closing price of Rs. 199.8, with a market cap of Rs. 1,271 crore.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Gulshan Polyols had participated in a tender issued by Oil Marketing Companies (OMCs) under the Ethanol Blended Petrol Programme (EBPP) during the Ethanol Supply Year (ESY 23-24) until 31st October 2024 at their various locations across India.
The company has been allocated 2,713 Kiloliters of Ethanol, valued at ~Rs. 18.85 crore, for supply through Q4 of ESY 23-24 from its 60 KLPD Ethanol plant located in Boregaon.
The OMCs involved are Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), and Hindustan Petroleum Corporation Limited (HPCL).
Previous News:
On June 25th, Gulshan Polyols marked a significant achievement with the commencement of commercial operations of Ethanol at its 250 KLPD capacity grain-based Ethanol Plant in Goalpara, Assam.
Earlier on April 6th, the company participated in a tender issued by OMCs for the supply of Ethanol under EBPP until October 10, 2024, across various locations in India.
As a result, GPL has been allocated an additional supply of 11,396 Kilolitres of Ethanol for Q3 and Q4 of the Ethanol Supply Year (ESY) from its 500 KLPD Ethanol plant in Boregaon, with an estimated order value of nearly Rs. 78.4 crore.
Financial & Stock Performance:
In terms of financials, the revenue from operations stood at Rs. 405.6 crore in Q4 FY23-24, rising by 34.5 percent YoY from Rs. 301.53 crore in Q4 FY22-23, but the after-tax profit fell by 56 percent to Rs. 6.4 crore from Rs. 14.55 crore, during the same period.
Further, on a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA declined from Rs. 28.8 crore in Q4 FY22-23 to Rs. 20.5 crore in Q4 FY23-24, representing a fall of 28.8 percent.
The stock has delivered negative returns of nearly 20 percent in one year and around 3.5 percent of negative returns year-to-date.
About the company:
Gulshan Polyols Limited (GPL) is a leading manufacturer of specialty chemicals based on grains and minerals in India, and is also the largest exporter of Sorbitol from India.
The company’s product portfolio includes sorbitol, fructose & sweetener, starch, ethanol, calcium carbonate, ethyl-neutral alcohol, agro-based animal feed, and its by-products.
Written by Shivani Singh
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