About
Gulshan Polyols Limited engages in the mineral and grain processing, and ethanol distillery businesses in India. The company provides starch sugar products, such as sorbitol 70% solution, dextrose monohydrate, malto dextrine powder, liquid glucose, brown rice syrups, and rice syrup solids; organic sweeteners; native starches; and animal nutrition products comprising dried distillers grain solids, corn/maize gluten feed, corn germ, cattle feed/enriched fiber, rice protein/gluten, and corn steep liquor products. It also offers activated, precipitated, and ground calcium carbonate products. In addition, the company provides grain based extra neutral alcohol, ethanol from damaged food grain, and country liquor, as well as alcoholic beverages under the Tiger Gold and Golden Deer brands. It serves pharmaceutical, personal care, footwear, tyres, rubber and plastic, paint, alcohol, ethanol, paper, agrochemical, printing, automobiles, animal feed, oil marketing, and food and agro industries. The company also exports its products. Gulshan Polyols Limited was founded in 1981 and is based in Delhi, India.
Key Metrics
as of Sep 2026Market Cap1,161 Cr
P/E27.20
Div Yield0.81 %
Book Value₹103.00
52w High₹228.00
52w Low₹122.00
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 640.00 | 551.00 | 627.00 | 542.00 | 593.00 | 515.00 | 610.00 | 440.00 | 455.00 | 406.00 | 371.00 | 308.00 | 293.00 |
| Expenses | 555.00 | 485.00 | 542.00 | 500.00 | 557.00 | 486.00 | 583.00 | 424.00 | 431.00 | 386.00 | 360.00 | 292.00 | 282.00 |
| Operating Profit | 85.00 | 66.00 | 85.00 | 42.00 | 37.00 | 29.00 | 27.00 | 16.00 | 24.00 | 19.00 | 11.00 | 16.00 | 12.00 |
| OPM % | 13.00 | 12.00 | 14.00 | 8.00 | 6.00 | 6.00 | 4.40 | 3.70 | 5.00 | 4.80 | 2.90 | 5.00 | 4.00 |
| Other Income | 6.00 | -1.00 | 0.00 | 0.00 | 2.00 | 1.00 | 1.00 | 1.00 | 2.00 | 1.00 | 3.00 | 4.00 | 4.00 |
| Depreciation | 11.00 | 11.00 | 12.00 | 11.00 | 11.00 | 10.00 | 11.00 | 8.00 | 8.00 | 9.00 | 5.00 | 10.00 | 9.00 |
| Interest | 7.00 | 8.00 | 16.00 | 8.00 | 8.00 | 9.00 | 8.00 | 7.00 | 4.00 | 4.00 | 1.00 | 4.00 | 2.00 |
| Profit before tax | 73.00 | 46.00 | 58.00 | 22.00 | 20.00 | 11.00 | 9.00 | 2.00 | 13.00 | 8.00 | 8.00 | 7.00 | 5.00 |
| Tax % | 27.00 | 18.00 | 29.00 | 31.00 | 34.00 | 33.00 | 25.00 | 33.00 | 25.00 | 23.00 | 42.00 | 67.00 | 7.00 |
| Net Profit | 54.00 | 38.00 | 41.00 | 16.00 | 13.00 | 7.00 | 7.00 | 1.00 | 10.00 | 6.00 | 5.00 | 2.00 | 4.00 |
| EPS in Rs | 8.58 | 6.02 | 6.56 | 2.49 | 2.11 | 1.13 | 1.09 | 0.21 | 1.56 | 1.02 | 0.75 | 0.36 | 0.70 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,312.00 | 2,020.00 | 1,378.00 | 1,180.00 | 1,101.00 | 766.00 | 621.00 | 674.00 | 616.00 | 492.00 | 433.00 | 395.00 |
| Expenses | 2,079.00 | 1,923.00 | 1,320.00 | 1,092.00 | 951.00 | 635.00 | 552.00 | 590.00 | 547.00 | 431.00 | 372.00 | 341.00 |
| Operating Profit | 234.00 | 97.00 | 58.00 | 88.00 | 150.00 | 131.00 | 69.00 | 84.00 | 69.00 | 60.00 | 61.00 | 54.00 |
| OPM % | 10.00 | 4.80 | 4.20 | 7.00 | 14.00 | 17.00 | 11.00 | 12.00 | 11.00 | 12.00 | 14.00 | 14.00 |
| Other Income | -2.00 | 3.00 | 12.00 | 7.00 | 2.00 | 2.00 | 1.00 | 2.00 | 2.00 | 4.00 | 5.00 | 3.00 |
| Interest | 41.00 | 28.00 | 10.00 | 6.00 | 5.00 | 7.00 | 11.00 | 14.00 | 11.00 | 6.00 | 4.00 | 3.00 |
| Depreciation | 45.00 | 37.00 | 32.00 | 29.00 | 32.00 | 33.00 | 31.00 | 44.00 | 36.00 | 28.00 | 24.00 | 23.00 |
| Profit before tax | 145.00 | 35.00 | 28.00 | 60.00 | 115.00 | 94.00 | 27.00 | 27.00 | 24.00 | 30.00 | 38.00 | 32.00 |
| Tax % | 26.00 | 28.00 | 36.00 | 25.00 | 26.00 | 33.00 | 25.00 | 21.00 | 23.00 | 10.00 | 19.00 | 20.00 |
| Net Profit | 107.00 | 25.00 | 18.00 | 45.00 | 85.00 | 62.00 | 21.00 | 21.00 | 18.00 | 27.00 | 30.00 | 25.00 |
| EPS in Rs | 17.18 | 3.97 | 2.83 | 7.27 | 14.40 | 11.09 | 3.66 | 3.81 | 3.24 | 4.86 | 5.49 | 4.76 |
| Dividend Payout % | 9.00 | 8.00 | 11.00 | 6.00 | 12.00 | 8.00 | 16.00 | 15.00 | 18.00 | 39.00 | 11.00 | 12.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6.00 | 6.00 | 6.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 4.00 |
| Reserves | 712.00 | 607.00 | 584.00 | 570.00 | 530.00 | 361.00 | 301.00 | 286.00 | 268.00 | 254.00 | 229.00 | 197.00 |
| Borrowings | 318.00 | 397.00 | 349.00 | 248.00 | 112.00 | 11.00 | 101.00 | 145.00 | 182.00 | 163.00 | 148.00 | 100.00 |
| Other Liabilities | 268.00 | 312.00 | 217.00 | 164.00 | 126.00 | 120.00 | 51.00 | 47.00 | 58.00 | 79.00 | 54.00 | 47.00 |
| Total Liabilities | 1,304.00 | 1,323.00 | 1,157.00 | 988.00 | 774.00 | 496.00 | 457.00 | 482.00 | 513.00 | 502.00 | 436.00 | 348.00 |
| Fixed Assets | 696.00 | 718.00 | 521.00 | 279.00 | 240.00 | 241.00 | 260.00 | 273.00 | 298.00 | 198.00 | 145.00 | 142.00 |
| CWIP | 7.00 | 4.00 | 182.00 | 278.00 | 91.00 | 3.00 | 3.00 | 5.00 | 1.00 | 97.00 | 97.00 | 7.00 |
| Investments | 47.00 | 17.00 | 15.00 | 23.00 | 26.00 | 0.00 | 0.00 | 0.00 | 6.00 | 8.00 | 7.00 | 5.00 |
| Other Assets | 554.00 | 584.00 | 438.00 | 408.00 | 417.00 | 252.00 | 193.00 | 204.00 | 209.00 | 199.00 | 187.00 | 195.00 |
| Total Assets | 1,304.00 | 1,323.00 | 1,157.00 | 988.00 | 774.00 | 496.00 | 457.00 | 482.00 | 513.00 | 502.00 | 436.00 | 348.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 207.00 | 42.00 | 66.00 | 16.00 | 61.00 | 106.00 | 44.00 | 87.00 | 42.00 | 81.00 | 55.00 | 50.00 |
| Cash from Investing Activity | -60.00 | -54.00 | -158.00 | -247.00 | -136.00 | -12.00 | -16.00 | -17.00 | -37.00 | -81.00 | -116.00 | -11.00 |
| Cash from Financing Activity | -121.00 | 13.00 | 88.00 | 124.00 | 170.00 | -79.00 | -51.00 | -48.00 | -4.00 | -1.00 | 36.00 | -2.00 |
| Net Cash Flow | 27.00 | 0.00 | -4.00 | -108.00 | 95.00 | 15.00 | -23.00 | 22.00 | 2.00 | -2.00 | -25.00 | 37.00 |
| Free Cash Flow | 181.00 | -14.00 | -113.00 | -238.00 | -52.00 | 93.00 | 28.00 | 64.00 | 2.00 | -3.00 | -62.00 | 28.00 |
| CFO/OP % | 96.00 | 48.00 | 125.00 | 37.00 | 60.00 | 93.00 | 73.00 | 113.00 | 66.00 | 143.00 | 103.00 | 104.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 32.00 | 33.00 | 44.00 | 44.00 | 40.00 | 47.00 | 48.00 | 54.00 | 69.00 | 66.00 | 62.00 | 59.00 |
| Inventory Days | 53.00 | 76.00 | 62.00 | 82.00 | 69.00 | 89.00 | 89.00 | 54.00 | 84.00 | 116.00 | 76.00 | 87.00 |
| Days Payable | 38.00 | 60.00 | 52.00 | 42.00 | 37.00 | 55.00 | 30.00 | 21.00 | 38.00 | 68.00 | 39.00 | 36.00 |
| Cash Conversion Cycle | 48.00 | 49.00 | 54.00 | 84.00 | 72.00 | 80.00 | 108.00 | 87.00 | 115.00 | 115.00 | 99.00 | 110.00 |
| Working Capital Days | 11.00 | 9.00 | 27.00 | 33.00 | 26.00 | 57.00 | 31.00 | 12.00 | 15.00 | 12.00 | 30.00 | 21.00 |
| ROCE % | 19.00 | 6.00 | 3.00 | 9.00 | 23.00 | 25.00 | 9.00 | 9.00 | 8.00 | 9.00 | 12.00 | 12.00 |
Corporate Actions
31 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 11 Sep 2025 | 11 Sep 2025 | — | 0.30 | |
| Dividend | 12 Sep 2024 | 12 Sep 2024 | — | 0.30 | |
| Other | 12 Sep 2024 | — | — | — | Annual General Meeting |
| Dividend | 22 Sep 2023 | — | — | 0.50 | |
| Bonus | 21 Jun 2023 | 21 Jun 2023 | 1:5 | — | |
| Dividend | 19 Sep 2022 | — | — | 1.00 | |
| Dividend | 16 Nov 2021 | 17 Nov 2021 | — | 1.00 | |
| Dividend | 08 Sep 2021 | — | — | 0.40 | |
| Dividend | 17 Nov 2020 | 18 Nov 2020 | — | 0.60 | |
| Other | 10 Sep 2020 | — | — | — | Annual General Meeting |
| Dividend | 27 Feb 2020 | 29 Feb 2020 | — | 0.70 | |
| Dividend | 12 Sep 2019 | — | — | 0.30 | |
| Dividend | 19 Nov 2018 | 21 Nov 2018 | — | 0.40 | |
| Dividend | 23 Aug 2018 | — | — | 0.30 | |
| Dividend | 23 Nov 2017 | 24 Nov 2017 | — | 0.40 | |
| Dividend | 29 Jun 2017 | — | — | 0.30 | |
| Split | 27 Dec 2016 | 28 Dec 2016 | 5:1 | — | |
| Other | 27 Dec 2016 | 28 Dec 2016 | — | — | Fv Splt Frm Rs 5 To Re 1 |
| Dividend | 10 Nov 2016 | 12 Nov 2016 | — | 2.00 | |
| Dividend | 16 Jun 2016 | — | — | 1.75 | |
| Dividend | 10 Nov 2015 | 13 Nov 2015 | — | 1.75 | |
| Dividend | 16 Jul 2015 | — | — | 1.75 | |
| Dividend | 27 Nov 2014 | 28 Nov 2014 | — | 1.75 | |
| Dividend | 17 Jul 2014 | — | — | 2.50 | |
| Dividend | 04 Jun 2013 | — | — | 2.50 | |
| Dividend | 17 Aug 2012 | — | — | 1.25 | |
| Dividend | 12 Aug 2011 | — | — | 1.25 | |
| Dividend | 16 Aug 2010 | — | — | 1.25 | |
| Dividend | 31 Jul 2009 | — | — | 1.00 | |
| Dividend | 01 Aug 2008 | — | — | 0.75 | |
| Dividend | 16 Aug 2007 | — | — | 0.75 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update23 Jul from crisil
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Rating update24 Jul 2025 from crisil
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Rating update21 Feb 2025 from crisil
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Rating update25 Apr 2024 from crisil
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Rating update18 Dec 2023 from crisil
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Rating update2 May 2023 from crisil