Shares of this small-cap stock jumped approximately 5 percent in Monday’s trading session after the company successfully bagged an order from multiple oil manufacturing companies (OMCs) for the supply of Ethanol. In the last five trading sessions, the company’s stock gained close to 15 percent for its holders.
With a market capitalization of Rs 1,238.68 crores, the stocks of Gulshan Polyols Limited started their trading session on Monday at Rs 196.95 and currently trade at Rs 198.60, gaining around 5 percent compared to the previous closing level of Rs 188.90 apiece.
Such sharp movements in the company’s share price were witnessed after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of an order from various OMCs for the supply of Ethanol.
The company, earlier, participated in a tender floated by OMCs, i.e., Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, inviting various molasses and grain-based distilleries to supply Ethanol during the Ethanol Supply Year till 31st October 2024 across the country.
Pertaining to the same, the company has been awarded a contract for an additional supply of 11,396 Kilolitres of Ethanol worth Rs 78.43 crores for Q3 and Q4 (ESY) from its Ethanol plant at Boregaon having a capacity of 500 KLPD.
During the recent financial quarters, the company’s basic business indicators, viz, its operating revenues as well as after-tax profits, showed some positive movements with the former rising from Rs 307.83 crores during Q2FY24 to Rs 371.08 crores during Q3FY24, and the latter, keeping the timeframe the same, taking a shift from Rs 2.24 crores to Rs 4.65 crores.
Gulshan Polyols Limited is an India-based company engaged in the business of manufacturing ‘Precipitated Calcium Carbonate’ and ‘Sorbitol’ in India.
The company’s business portfolio covers Ethanol, Fructose, Calcium Carbonate, Alcohol business, Starch Sugars & Native Starches, and many more. It has a presence in markets within as well as outside India.
Written by Amit Madnani
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