Gulshan Polyols starts commercial ops of Ethanol at Assam unit; stock up 6%

Gulshan Polyols shares rise: Shares of Gulshan Polyols soared as much as 5.77 per cent to hit an intraday high of Rs 212.35 per share on Wednesday. 

The rise in the stock price came after the company announced that it has commenced the commercial operations of ethanol at a 250 KLPD capacity grain-based ethanol plant at Goalpara, Assam. 

In an exchange filing, Gulshan Polyols said, “We are pleased to inform you that the Company has successfully achieved another milestone by starting commercial operations of Ethanol at our 250 KLPD Capacity Grain based Ethanol Plant at Goalpara, Distt. Assam.”

Gulshan Polyols Limited (GPL) was set up in 1981 as Gulshan Sugars & Chemicals Limited, focusing initially on manufacturing Precipitated Calcium Carbonate (PCC) and Activated Calcium Carbonate (ACC) with an initial capacity of 2100 MTPA in Muzaffarnagar, UP. 

Over the years, GPL has expanded its Calcium Carbonate production capabilities significantly, increasing its capacity to 105,000 MTPA.

GPL operates as a diversified, multi-location manufacturing company with a global presence across 42 countries on three continents. The company's product portfolio includes Sorbitol, Fructose, Sweetener Ethanol (Bio-fuel), Distillery products, Calcium Carbonate, Starch & Derivatives, and Onsite PCC Plants. With over four decades of industrial experience, GPL operates multiple facilities throughout India.

GPL engages in the manufacture of chemicals derived from grains and minerals, catering to a wide range of industries including toothpaste, alcohol production, paints, paper, medicines, plastics, and personal care products. The company operates under three main manufacturing segments: Mineral Processing, Grain Processing, and Ethanol (Bio-Fuel)/Distillery.

Financial performance
 

Profit after tax (PAT) stood at Rs 6.4 crore in Q4 FY24, compared to Rs 14.6 crore in Q4FY23, marking a declined of 56.2 per cent due to high raw material prices, which was mainly because of elevated demand of raw material/ grain across the country.

The revenue from operations increased 34.5 per cent from Rs 301.5 crore in Q4FY23 to Rs 405.6 crore in Q4FY24. The revenue growth was led by production of grain ethanol from its Chhindwara plant in Madhya Pradesh.  

The market capitalisation of Gulshan Polyols is Rs 1,294.19 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of the stock is Rs 274.95 while its 52-week low is Rs 158.05 per share. 

At 9:57 AM, shares of Gulshan Polyols were trading 3.26 per cent higher at Rs 207.30. By comparison, BSE Semsex was trading flat at 78,051.98 levels.