Gulshan Polyols Limited — Investor Meet, 27-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Gulshan Polyols delivered strong Q4/FY26 results, largely driven by its ethanol business, now accounting for over 60% of revenue and profitability. Q4 revenue grew 7% to INR 550 Cr, with EBITDA up 121% to INR 65 Cr (11.9% margin) and PAT up 435% to INR 38 Cr. For FY26, revenue reached INR 2,314 Cr, EBITDA INR 232 Cr, and PAT INR 107 Cr.

Management aims for FY27 revenue of INR 2,600-2,800 Cr with 10-12% EBITDA margin, prioritizing efficiency. The ethanol order book is 18 Cr liters, expected to increase to 22 Cr liters. Future growth from FY28 will focus on specialty and import-substitute chemicals, with potential capex of around INR 500 Cr. The company is confident in sustaining profitability due to consistent FCI rice availability and strategic expansion.