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Gulshan Polyols Ltd

Q3 FY25Agricultural Food & other Products

Gulshan Polyols Q3 FY25: Revenue ₹600 Cr

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹191
Market cap₹1.2K Cr
P/E8.0
Updated23 Aug 2026
Read4 min read

The short version

The company has scaled revenue from ₹600 crore to over ₹2,000 crore in 4 years, indicating strong growth. The company expects to see improvements in the bottom line and operating efficiency in the coming years (Page 18).

From Gulshan Polyols Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • The company has scaled revenue from ₹600 crore to over ₹2,000 crore in 4 years, indicating strong growth.
  • Ethanol segment volumes are expected to reach 20-22 crore liters in FY26, generating about ₹1,500 crore revenue.
  • Grain processing revenue is steady around ₹900 crore, with plants running at ~80% capacity; no major jump expected without capacity expansion.
  • Mineral processing is stable with around ₹20 crore EBIT; growth expected to be modest and steady.

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Profitability & Margins

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Capital Expenditure Plans

  • The company has aggressively executed its Capex over the last 2 years, completing all projects within the scheduled time and budget.
  • Plants are now running at almost 70-80% capacity.
  • For the current year, there is no additional Capex planned.
  • For the next year, no material Capex apart from maintenance is expected; nothing new has been approved by the board.

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Top-ranked in Agricultural Food & other Products

Ranked on what management guided this quarter

Guidance-ranked
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 3Mar 2
5
Rev 3Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • Current order book for ethanol segment: Approximately 15 crore liters (about 3.7 to 4 crore liters per quarter).
  • Q1 order book was around 4.5 crore liters for all plants.
  • For FY26, expected ethanol volume is 20 to 22 crore liters.
  • Expected revenue from ethanol segment for FY26 is about ₹1,500 crore, including byproduct revenues.
  • No new onsite plants commissioned in FY25, so no one-time EPC contract boost expected.
  • Export revenue from sorbitol stable at about ₹100 crore, expected to remain steady.

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Gulshan Polyols Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2024
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹542 Cr, net profit ₹16 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Gulshan Polyols Ltd Q3 FY25 results?

The company has scaled revenue from ₹600 crore to over ₹2,000 crore in 4 years, indicating strong growth. The company expects to see improvements in the bottom line and operating efficiency in the coming years (Page 18).

What is Gulshan Polyols Ltd share price analysis?

Gulshan Polyols Ltd currently shows a neutral. The stock trades at a P/E of 8.0 with a market cap of ₹1,173 Cr. Investors should review the full earnings analysis for detailed insights.

Is Gulshan Polyols Ltd planning capital expenditure?

The company has aggressively executed its Capex over the last 2 years, completing all projects within the scheduled time and budget.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.