Gulshan Polyols Limited has informed the Exchange about Investor Presentation
GULPOLY · price
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Gulshan Polyols filed its investor presentation for FY25 results on May 22, 2025. FY25 revenue grew 47% YoY to Rs 2,020 Cr, with EBITDA up 43% to Rs 100 Cr and PAT up 40% to Rs 25 Cr. Growth was driven by the ethanol segment, where revenue jumped 141% to Rs 1,187 Cr on 14.1 Cr litres of sales volume. The grain processing segment struggled, with revenue declining 7% to Rs 729 Cr and EBITDA margin compressing to 0.8%. The mineral processing segment was stable with Rs 104 Cr revenue and 22.8% EBITDA margin. Two pending government incentives — Rs 1.5/litre for the 500 KLPD Madhya Pradesh plant and Rs 2/litre for the 250 KLPD Assam plant from May 18, 2025 — are not yet reflected in current financials. Management is also studying bio-diesel production feasibility.
The ethanol-led growth story is intact with significant incentive upside still to flow through earnings, but the persistent weakness in the grain segment is a concern. Investors should watch for FY26 ethanol volumes hitting the targeted 25 Cr litre mark and the outcome of the bio-diesel feasibility study as potential catalysts.