Gulshan Polyols
Gulshan Polyols
FMCGKey Fundamentals
MicrocapAgricultural ProductsFMCGTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company's median sales growth is 15.6% of last 10 years
- Company's working capital requirements have reduced from 15.9 days to 11.1 days
Weaknesses
1- Company has a low return on equity of 7.75% over last 3 years.
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 293 | 308 | 371 | 406 | 455 | 440 | 610 | 515 | 593 | 542 | 627 | 551 | 640 |
| Expenses | 282 | 292 | 360 | 386 | 431 | 424 | 583 | 486 | 557 | 500 | 542 | 485 | 555 |
| Operating Profit | 12 | 16 | 11 | 19 | 24 | 16 | 27 | 29 | 37 | 42 | 85 | 66 | 85 |
| OPM % | 4% | 5% | 2.9% | 4.8% | 5% | 3.7% | 4.4% | 6% | 6% | 8% | 14% | 12% | 13% |
| Other Income | 4 | 4 | 3 | 1 | 2 | 1 | 1 | 1 | 2 | 0 | 0 | -1 | 6 |
| Interest | 2 | 4 | 1 | 4 | 4 | 7 | 8 | 9 | 8 | 8 | 16 | 8 | 7 |
| Depreciation | 9 | 10 | 5 | 9 | 8 | 8 | 11 | 10 | 11 | 11 | 12 | 11 | 11 |
| PBT | 5 | 7 | 8 | 8 | 13 | 2 | 9 | 11 | 20 | 22 | 58 | 46 | 73 |
| Tax % | 7% | 67% | 42% | 23% | 25% | 33% | 25% | 33% | 34% | 31% | 29% | 18% | 27% |
| Net Profit | 4 | 2 | 5 | 6 | 10 | 1 | 7 | 7 | 13 | 16 | 41 | 38 | 54 |
| EPS in Rs | 0.7 | 0.36 | 0.75 | 1.02 | 1.56 | 0.21 | 1.09 | 1.13 | 2.11 | 2.49 | 6.56 | 6.02 | 8.58 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 395 | 433 | 492 | 616 | 674 | 621 | 766 | 1,101 | 1,180 | 1,378 | 2,020 | 2,312 | 2,359 |
| Expenses | 341 | 372 | 431 | 547 | 590 | 552 | 635 | 951 | 1,092 | 1,320 | 1,923 | 2,079 | 2,081 |
| Operating Profit | 54 | 61 | 60 | 69 | 84 | 69 | 131 | 150 | 88 | 58 | 97 | 234 | 278 |
| OPM % | 14% | 14% | 12% | 11% | 12% | 11% | 17% | 14% | 7% | 4.2% | 4.8% | 10% | 12% |
| Other Income | 3 | 5 | 4 | 2 | 2 | 1 | 2 | 2 | 7 | 12 | 3 | -2 | 5 |
| Interest | 3 | 4 | 6 | 11 | 14 | 11 | 7 | 5 | 6 | 10 | 28 | 41 | 39 |
| Depreciation | 23 | 24 | 28 | 36 | 44 | 31 | 33 | 32 | 29 | 32 | 37 | 45 | 45 |
| PBT | 32 | 38 | 30 | 24 | 27 | 27 | 94 | 115 | 60 | 28 | 35 | 145 | 199 |
| Tax % | 20% | 19% | 10% | 23% | 21% | 25% | 33% | 26% | 25% | 36% | 28% | 26% | — |
| Net Profit | 25 | 30 | 27 | 18 | 21 | 21 | 62 | 85 | 45 | 18 | 25 | 107 | 147 |
| EPS in Rs | 4.76 | 5.49 | 4.86 | 3.24 | 3.81 | 3.66 | 11.09 | 14.4 | 7.27 | 2.83 | 3.97 | 17.18 | 23.65 |
| Div. Payout % | 12% | 11% | 39% | 18% | 15% | 16% | 8% | 12% | 6% | 11% | 8% | 9% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 |
| Reserves | 197 | 229 | 254 | 268 | 286 | 301 | 361 | 530 | 570 | 584 | 607 | 712 |
| Borrowings | 100 | 148 | 163 | 182 | 145 | 101 | 11 | 112 | 248 | 349 | 397 | 318 |
| Other Liabilities | 47 | 54 | 79 | 58 | 47 | 51 | 120 | 126 | 164 | 217 | 312 | 268 |
| Total Liabilities | 348 | 436 | 502 | 513 | 482 | 457 | 496 | 774 | 988 | 1,157 | 1,323 | 1,304 |
| Fixed Assets | 142 | 145 | 198 | 298 | 273 | 260 | 241 | 240 | 279 | 521 | 718 | 696 |
| CWIP | 7 | 97 | 97 | 1 | 5 | 3 | 3 | 91 | 278 | 182 | 4 | 7 |
| Investments | 5 | 7 | 8 | 6 | 0 | 0 | 0 | 26 | 23 | 15 | 17 | 47 |
| Other Assets | 195 | 187 | 199 | 209 | 204 | 193 | 252 | 417 | 408 | 438 | 584 | 554 |
| Total Assets | 348 | 436 | 502 | 513 | 482 | 457 | 496 | 774 | 988 | 1,157 | 1,323 | 1,304 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 50 | 55 | 81 | 42 | 87 | 44 | 106 | 61 | 16 | 66 | 42 | 207 |
| Investing | -11 | -116 | -81 | -37 | -17 | -16 | -12 | -136 | -247 | -158 | -54 | -60 |
| Financing | -2 | 36 | -1 | -4 | -48 | -51 | -79 | 170 | 124 | 88 | 13 | -121 |
| Net Cash Flow | 37 | -25 | -2 | 2 | 22 | -23 | 15 | 95 | -108 | -4 | 0 | 27 |
| Free Cash Flow | 28 | -62 | -3 | 2 | 64 | 28 | 93 | -52 | -238 | -113 | -14 | 181 |
| CFO/OP | 104 | 103 | 143 | 66 | 113 | 73 | 93 | 60 | 37 | 125 | 48 | 96 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 59 | 62 | 66 | 69 | 54 | 48 | 47 | 40 | 44 | 44 | 33 | 32 |
| Inventory Days | 87 | 76 | 116 | 84 | 54 | 89 | 89 | 69 | 82 | 62 | 76 | 53 |
| Days Payable | 36 | 39 | 68 | 38 | 21 | 30 | 55 | 37 | 42 | 52 | 60 | 38 |
| Cash Conversion Cycle | 110 | 99 | 115 | 115 | 87 | 108 | 80 | 72 | 84 | 54 | 49 | 48 |
| Working Capital Days | 21 | 30 | 12 | 15 | 12 | 31 | 57 | 26 | 33 | 27 | 9 | 11 |
| ROCE % | 12% | 12% | 9% | 8% | 9% | 9% | 25% | 23% | 9% | 3% | 6% | 19% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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63 extracted metrics + investor summaries across FY11–FY27.
Documents
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Company Information
Incorporated in 1981, Gulshan Polyols Ltd is a manufacturer of Ethanol and other speciality chemicals.[1]
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