Gulshan Polyols spurts on bagging orders to supply ethanol

Gulshan Polyols rose 8.58% to Rs 267 after the company received an order worth Rs 137 crore to supply 22,209.2 kilolitres of ethanol to oil marketing companies.

The company has also won an order worth Rs 54.40 crore to supply 9,300 kilolitres of ethanol to Nayara Energy. The supply will tentatively start from April 2023 onwards from upcoming 500 KLPD Ethanol plant at Boregaon in Maharashtra.

Gulshan Polyols had participated in a tender floated by oil marketing companies (OMCs) inviting various molasses and grain based distilleries for supplying Ethanol till 31 October 2023 at their various locations across the country.

Gulshan Polyols is India's leading manufactures ethanol/bio-fuel, grain and mineral based specialty products. Its business portfolio broadly spans across three main segments, viz. grain processing, bio-fuel/distillery and mineral processing operations.

Net profit of Gulshan Polyols declined 67.96% to Rs 9.09 crore on 0.32% decline in net sales to Rs 276.38 crore in Q2 September 2022 over Q2 September 2021.

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