Gulshan Polyols zooms 10% after winning tender floated for ethanol supply

Gulshan Polyols shares advanced 9.7 per cent upper circuit in Thursday's trade on BSE, logging an intraday high at Rs 193 per share. The stock gained after the company won a bid to supply 21,220 kiloliters of ethanol having an estimated order value of Rs 12.41 crore for (ESY 24-25).

 

Around 11:49 AM, Gulshan Polyols share price was up 1.76 per cent at Rs 178.95 per share on BSE. In comparison, the BSE Sensex was down 0.28 per cent at 75,729.18. The market capitalisation of the company stood at Rs 1,116.12 crore. The 52-week high of the stock was at Rs 262.95 per share and the 52-week low was at Rs 157 per share.

 

"This is to inform you that the Gulshan Polyols Limited had participated in a tender {(Tender Ref. No. 1000423858 (C3), (E-Tender No. 18791) floated by Oil Marketing Companies (OMCs) under EBPP for Ethanol Supply Year (ESY 24-25) at their various locations across the country and the Company has been allocated with a quantity of 21220 Kiloliters of Ethanol having an estimated order value of Rs 1,24,13,70,000/- for (ESY 24-25)," the filing read. 

 

Under the contract, Gulshan Polyols will supply 21,220 kiloliters of ethanol to Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), and Mangalore Refinery and Petrochemicals Limited (MRPL).

 

In Q3, Gulshan Polyols reported a profit after tax (PAT) of Rs 6.7 crore as compared to Rs 4.6 crore a year ago, up 46 per cent. The revenue for the quarter under review stood at Rs 609.7 crore as compared to Rs 371 crore a year ago. 

 

The Earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs 27.4 crore as compared to Rs 13.8 crore a year ago. The Ebida margin for the third quarter stood at 4.51 per cent as against 3.72 per cent a year ago. 

 

"As we move forward, we remain committed to strengthening our market leadership, optimizing margins, and creating long-term value for our shareholders. With our strategic expansions, improved cost structures, and rising demand for biofuels and specialty chemicals, we are well-positioned for sustained growth and enhanced profitability," the management said in its commentary.

 

In the past one year, Gulshan Polyols shares have lost 11.4 per cent against Sensex's rise of 4 per cent.