Gulshan Polyols allowed by authorities to operate ethanol plant in Assam

Gulshan Polyols Limited has received a ‘Consent to Operate’ (CTO) from the Pollution Control Board of Assam for its Grain-based Ethanol Plant unit located in Goalpara in the state of Assam.

Gulshan Polyols has informed exchanges in its filing, “Pursuant to Regulation 30 and Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any other applicable provisions of the said Regulations, we are pleased to inform that, the Company has been granted with a ‘Consent to Operate’ (CTO) under section 25 of the Water (Prevention & Control of Pollution) Act, 1974 and under section 21 of the Air (Prevention & Control of Pollution) Act, 1981 from Pollution Control Board, Assam for its Ethanol Plant (Grain based) unit at Goalpara, Assam.”

“The Assam Pollution Control Board has granted the Consent to Operate with validity till 31/03/2025 under the aforesaid acts subject to the fulfillment of the terms & conditions as mentioned in the consent order towards setting up of our Ethanol Project of 250 KLPD Capacity at District Goalpara, Assam,” the company further added.

Gulshan Polyols, a prominent Indian company, specializes in manufacturing ethanol, biofuels, and a range of specialty products derived from grains and minerals. Its operations are primarily divided into three segments: grain processing, bio-fuel/distillery, and mineral processing.

The revenue of Gulshan Polyols has shown steady growth, increasing by 12% annually from ₹331 crore in Q3FY23 to ₹371 crore in Q3FY24. However, there has been a significant decline in net profit, plummeting by 61% from ₹11.5 crore to ₹4.65 crore during the same period.

In recent trading activity, Gulshan Polyols Ltd shares have observed a 3.5% uptick over the past month.

The company has recently been granted a contract valued at Rs 572 crore to deliver 89,404 kiloliters of ethanol to Bharat Petroleum Corp. and Hindustan Petroleum Corp.