Gulshan Polyols Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #20 of 21 in Agricultural Food & other Products
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Gulshan Polyols Ltd Q3 FY26 key numbers
- Revenue
- For FY27, revenue is expected to be Rs. 2,600 crores to Rs. 2,800 crores, assuming 80%-90% utilization across divisions.
As stated in Gulshan Polyols Ltd's Q3 FY26 earnings call transcript · published 30 May 2026. Reported figures, not investment advice.
The short version
For FY26, Gulshan Polyols Limited targets a revenue of about Rs. 2,300 crores, driven by optimization and high utilization of existing capacities without new capex. FY26 outlook: Target top line around Rs. 2,300 crores with EBITDA margin of 9%-10%, ethanol segment delivering 10%-11% operating margins.
From Gulshan Polyols Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- For FY26, Gulshan Polyols Limited targets a revenue of about Rs. 2,300 crores, driven by optimization and high utilization of existing capacities without new capex.
- For FY27, revenue is expected to be Rs. 2,600 crores to Rs. 2,800 crores, assuming 80%-90% utilization across divisions.
- The company aims to achieve Rs. 3,000 crores revenue potentially without additional capex, led by ethanol ramp-up and operational efficiencies.
- Current capacity utilization is approximately 65%-70%, with capacity ramp-up expected.
- Ethanol segment has long-term offtake agreements for 50% capacity, and utilization of 60%-70% is needed for optimum cost-efficiency.
2 more points from Gulshan Polyols Ltd's call on revenue
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Profitability & Margins
See what Gulshan Polyols Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- No fresh capex planned for FY27; the focus is on improving cash flows, reducing working capital, and delivering good results quarter-on-quarter.
- Any new capex will likely happen in FY28, involving planning over the next four to five quarters.
- Future capex will emphasize specialty chemicals with more value-added, import-substitute products not manufactured currently in India.
- The last major capex was about Rs. 500 crores between ethanol plants in Madhya Pradesh and Assam, generating around Rs. 1,500 crores in revenue.
2 more points from Gulshan Polyols Ltd's call on capex
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Top-ranked in Agricultural Food & other Products
Ranked on what management guided this quarter
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
- Gulshan Polyols has current ethanol segment orders approximately worth Rs. 1,200 crores, translating into 17 crore litres for ESY 25 and 26 (Page 4).
- Madhya Pradesh and Assam plants have signed long-term off-take agreements for 13 crore litres, which is 50% of their total ethanol capacity of 26 crore litres (Page 7).
- The balance ethanol capacity allocation is expected to increase from 70% currently to higher levels in subsequent tender cycles (Page 7).
2 more points from Gulshan Polyols Ltd's call on order book
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Gulshan Polyols Ltd — Quarterly revenue & net profit
Q3 FY26 figures are not in this chart yet. Latest shown: Sep 2025 (Q2 FY26). The Q3 FY26 numbers from the filing are in the analysis on this page.
Reported quarterly figures (₹ Cr). Latest (Q2 FY26): revenue ₹542 Cr, net profit ₹16 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Gulshan Polyols's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
Earlier calls (1)
Others in Agricultural Food & other Products this season
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174.1 crore, down 2.8% YoY from Rs. Key investor presentation takeaways from Modi Naturals Ltd's Q3 FY26 investor presentation — and how it ranks against sector
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- Regaal Resources (Q3 FY26)
Q3 FY26 Operating Income (Revenue) was ₹3,229.7 million, up 25.6% year-on-year. Key investor presentation takeaways from Regaal Resources Ltd's Q3 FY26 investor
- GRM Overseas (Q3 FY26)
482.8 Crores . Key investor presentation takeaways from GRM Overseas Ltd's Q3 FY26 investor presentation — and how it ranks against sector peers.
Potential multibaggers · Q2 FY27
Potential multibaggers in Agricultural Food & other Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Gulshan Polyols Ltd Q3 FY26 results?
For FY26, Gulshan Polyols Limited targets a revenue of about Rs. 2,300 crores, driven by optimization and high utilization of existing capacities without new capex. FY26 outlook: Target top line around Rs. 2,300 crores with EBITDA margin of 9%-10%, ethanol segment delivering 10%-11% operating margins.
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?
No fresh capex planned for FY27; the focus is on improving cash flows, reducing working capital, and delivering good results quarter-on-quarter.
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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.