Gulshan Polyols Q4 FY26 earnings call: Revenue & Margins
Q4 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 Q4 FY26 key numbers
- Revenue
- Capacity utilization in ethanol is currently around 80%, with unutilized capacity available up to 26 crore liters, allowing volume growth with increased mandates.
As stated in Gulshan Polyols Ltd's Q4 FY26 earnings call transcript · published 6 Jun 2026. Reported figures, not investment advice.
The short version
For FY27, Gulshan Polyols targets revenue of INR 2,600 to INR 2,800 crores, with INR 1,800 to 1,900 crores expected from the ethanol segment, INR 800 crores from grain processing, and INR 100 crores from mineral processing. Ethanol segment expected to sustain strong EBITDA margins over next 2-3 years, driven by continued government support and feedstock availability.
From Gulshan Polyols Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- For FY27, Gulshan Polyols targets revenue of INR 2,600 to INR 2,800 crores, with INR 1,800 to 1,900 crores expected from the ethanol segment, INR 800 crores from grain processing, and INR 100 crores from mineral processing.
- Ethanol segment volumes are expected to increase from the current 18 crore liters order book to at least 22 crore liters within FY26, aligned with government’s rising blending mandates up to E30 and beyond.
- Capacity utilization in ethanol is currently around 80%, with unutilized capacity available up to 26 crore liters, allowing volume growth with increased mandates.
- From FY28, the company plans fresh capex focused on specialty chemicals and import-substitutes, with a mega project (~INR 500 crores capex) aiming to generate INR 1,000–1,500 crores revenue, driving longer-term growth beyond INR 5,000 crore revenue.
2 more points from Gulshan Polyols Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Gulshan Polyols is planning a mega capex project of about INR 500 crores starting FY28, spread over FY28 and FY29.
- This capex will focus on specialty chemicals, primarily import-substitute products not currently produced in India.
- The project will be set up on 100 acres of land in Narsinghpur, Madhya Pradesh.
- The plan includes some capacity enhancement for existing products like sorbitol and fructose.
- The company aims to generate INR 1,000 to INR 1,500 crores in revenue from this investment.
- Funding will be through a mix of debt and equity; fundraising options are being evaluated.
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
- Current ethanol segment order book is about 18 crore liters for ESY ’25-’26 (November to October), translating to approximately INR 1,250 crores in revenue.
- The company expects to increase this allocation to at least 22 crore liters within the financial year through upcoming tenders in June (C2 and C3 cycles).
- Previous year’s order book was at 21 crore liters; current allocation is lower but expected to improve.
- About 50% of the 18 crore liters allocation was fulfilled till March; around 9 crore liters volume is expected over the next two quarters.
2 more points from Gulshan Polyols Ltd's call on order book
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Gulshan Polyols Ltd — Quarterly revenue & net profit
Q4 FY26 figures are not in this chart yet. Latest shown: Sep 2025 (Q2 FY26). The Q4 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 →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
Earlier calls (1)
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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 Q4 FY26 results?
For FY27, Gulshan Polyols targets revenue of INR 2,600 to INR 2,800 crores, with INR 1,800 to 1,900 crores expected from the ethanol segment, INR 800 crores from grain processing, and INR 100 crores from mineral processing. Ethanol segment expected to sustain strong EBITDA margins over next 2-3 years, driven by continued government support and feedstock availability.
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?
Gulshan Polyols is planning a mega capex project of about INR 500 crores starting FY28, spread over FY28 and FY29.
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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.