Press Release for the Quarter ended June 30, 2025
GULPOLY · price
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Awaiting price reaction for this filing.
Gulshan Polyols has filed its Q1 FY26 investor presentation. Consolidated revenue grew 31% year-on-year to Rs 593.2 crore, with EBITDA up 50% to Rs 38.5 crore and profit after tax up 36% to Rs 13.2 crore. The ethanol segment was the key driver, with revenue of Rs 403 crore and EBITDA margin improving to 7.8% on 6 crore litre volumes, supported by India's ethanol blending ratio rising to 18.93%. The grain processing division remained under pressure with EBITDA margin at 0% due to oversupply of sorbitol and starch in the domestic market, while the mineral processing segment stayed stable with a 23.9% EBITDA margin. For full-year FY26, the company plans maximum capacity utilisation at its 810 KLPD distillery, targeting 25 crore litres of ethanol volume.
The strong ethanol-led performance and improved margins are positive for the stock, but the continued weakness in the grain processing segment caps upside. Investors should watch ethanol volume growth and any recovery in grain segment margins.