Gulshan Polyols to supply 2,713-KL ethanol to OMCs

The order is valued at Rs 18.85 crore for Ethanol Supply Year 2023-24, the company revealed in a regulatory filing.

Gulshan Polyols Limited has secured a contract worth Rs 18.85 crore to supply 2,713 kiloliters of ethanol to Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), and Hindustan Petroleum Corporation Limited (HPCL).

According to an exchange filing, the company stated, “Gulshan Polyols Limited has been allocated 2,713 kiloliters of ethanol, with an estimated order value of Rs 18,85,66,000, for supply until Q4 (ESY 23-24), i.e., 31-10-2024, from its 60 KLPD ethanol plant at Boregaon.”

Gulshan Polyols Limited recently announced the commencement of commercial ethanol operations at its 250 KLPD grain-based ethanol plant in Goalpara, Assam.

The company also secured a contract valued at Rs 572 crore to deliver 89,404 kiloliters of ethanol to Bharat Petroleum Corp. and Hindustan Petroleum Corp.

Originally established as Gulshan Sugars & Chemicals Limited in 1981, Gulshan Polyols Limited (GPL) began by manufacturing Precipitated Calcium Carbonate (PCC) and Activated Calcium Carbonate (ACC) with an initial capacity of 2,100 MTPA in Muzaffarnagar, UP. Over the years, GPL has significantly expanded its production capabilities to 105,000 MTPA.

Today, Gulshan Polyols is a diversified, multi-location manufacturing company with a global presence in 42 countries across three continents. However, the company reported a profit after tax (PAT) of Rs 6.4 crore in Q4 FY24, compared to Rs 14.6 crore in Q4 FY23, reflecting a decline of 56.2% due to high raw material prices driven by increased demand for raw materials and grain across the country.

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