MarketFriction

Gulshan Polyols Ltd

NSE GULPOLY · BSE 532457 · Other Agricultural Products
₹161.75 -2.48%
NSE close2026-10-01
52 week range121.50 - 227.63
Market cap₹1,027 Cr.
P/E6.96
Price band 20% Delivery 64.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales308371406455440610515593542627551640
Expenses292360386431424583486557500542485555
Operating Profit161119241627293742856685
OPM %5%2.9%4.8%5%3.7%4.4%6%6%8%14%12%13%
Other Income4312111200-16
Interest4144789881687
Depreciation10598811101111121111
Profit before tax7881329112022584673
Tax %67%42%23%25%33%25%33%34%31%29%18%27%
Net Profit256101771316413854
EPS in Rs0.360.751.021.560.211.091.132.112.496.566.028.58
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4334926166746217661,1011,1801,3782,0202,3122,359
Expenses3724315475905526359511,0921,3201,9232,0792,081
Operating Profit6160698469131150885897234278
OPM %14%12%11%12%11%17%14%7%4.2%4.8%10%12%
Other Income54221227123-25
Interest4611141175610284139
Depreciation242836443133322932374545
Profit before tax383024272794115602835145199
Tax %19%10%23%21%25%33%26%25%36%28%26%
Net Profit30271821216285451825107147
EPS in Rs5.494.863.243.813.6611.0914.407.272.833.9717.1823.65
Dividend Payout %11%39%18%15%16%8%12%6%11%8%9%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth18%25%25%9%
Compounded Profit Growth14%12%36%422%
Stock Price CAGR11%-7%-10%10%
Return on Equity10%9%8%17%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital455555555666
Reserves197229254268286301361530570584607712
Borrowings10014816318214510111112248349397318
Other Liabilities475479584751120126164217312268
Total Liabilities3484365025134824574967749881,1571,3231,304
Fixed Assets142145198298273260241240279521718696
CWIP7979715339127818247
Investments57860002623151747
Other Assets195187199209204193252417408438584554
Total Assets3484365025134824574967749881,1571,3231,304
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity50558142874410661166642207
Cash from Investing Activity-11-116-81-37-17-16-12-136-247-158-54-60
Cash from Financing Activity-236-1-4-48-51-791701248813-121
Net Cash Flow37-25-2222-231595-108-4027
Free Cash Flow28-62-32642893-52-238-113-14181
CFO/OP104%103%143%66%113%73%93%60%37%125%48%96%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days596266695448474044443332
Inventory Days8776116845489896982627653
Days Payable363968382130553742526038
Cash Conversion Cycle1109911511587108807284544948
Working Capital Days21301215123157263327911
ROCE %12%12%9%8%9%9%25%23%9%3%6%19%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters66.72%66.72%66.72%66.68%66.68%66.71%66.71%66.71%66.71%66.80%66.80%66.80%
FIIs0.00%0.00%0.01%0.00%0.50%0.00%0.06%0.00%0.00%0.00%0.29%0.32%
DIIs1.23%1.20%0.58%0.40%0.80%1.11%0.67%0.56%0.07%0.00%0.00%0.00%
Public31.80%31.77%32.36%32.66%31.77%31.88%32.27%32.44%32.92%32.90%32.60%32.58%
Others0.26%0.31%0.33%0.27%0.27%0.30%0.30%0.30%0.30%0.30%0.30%0.30%
No. of Shareholders34,24834,71835,99235,90938,81939,87337,96036,95436,93337,07935,80535,573

Fundamentals

Market Cap₹ 1,027 Cr.
Current Price₹ 165
Stock P/E6.96
Book Value₹ 115
ROCE18.6 %
ROE16.6 %
Dividend Yield0.91 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)422%
Standalone figures.
Valuation
Market capRs 1,009 Cr
Enterprise valueRs 1,299 Cr
P/E (TTM)6.84x
Price to book1.40x
Price to sales0.43x
EV / EBITDA4.58x
EV / EBIT5.45x
EV / sales0.55x
Price to cash flow4.86x
Earnings yield14.62%
Dividend yield0.93%
P/E, 3-year average37.01x
P/B, 3-year average1.60x
P/E, 5-year average29.60x
P/B, 5-year average1.83x
Profitability
Operating margin (excl. other income)10.11%
Operating margin (incl. other income)10.01%
EBITDA margin12.02%
Pre-tax margin8.43%
Net profit margin6.25%
Net margin, latest quarter8.36%
ROE16.09%
ROCE18.20%
ROA8.16%
ROE, 3-year average7.75%
ROCE, 3-year average9.65%
ROA, 3-year average3.93%
ROE, 5-year average10.07%
ROCE, 5-year average12.27%
ROA, 5-year average6.07%
ROIC (approx.)17.42%
Tax rate26.30%
Other income / net worth-0.33%
Growth
Sales growth (latest year)14.49%
Profit growth (latest year)332.23%
Sales CAGR, 3 years25.15%
Sales CAGR, 5 years24.73%
Profit CAGR, 3 years33.18%
Profit CAGR, 5 years11.40%
Sales growth QoQ16.17%
Profit growth QoQ42.54%
Sales growth YoY (latest quarter)7.86%
Profit growth YoY (latest quarter)306.30%
Per share
EPS (TTM)Rs 23.65
EPS (latest year)Rs 17.18
EPS (latest quarter)Rs 8.58
EPS, 3-year averageRs 7.99
EPS, 5-year averageRs 9.82
Book value per shareRs 115.21
Sales per shareRs 378.23
Cash flow per shareRs 33.26
Free cash flow per shareRs 29.02
Dividend per share (latest year)Rs 1.50
Dividend per share, 3-year averageRs 0.70
Dividend per share, 5-year averageRs 0.92
Dividends
Dividend payout8.74%
Dividend payout, 3-year average8.96%
Dividend payout, 5-year average8.96%
Efficiency
Asset turnover1.77x
Fixed asset turnover3.32x
Inventory turnover8.60x
Inventory days42 days
Debtor days32 days
Debtors turnover11.23x
Creditor days38 days
Cash conversion cycle48 days
Working capital days11 days
Leverage
Total debtRs 318 Cr
Cash and bankRs 28 Cr
Net debtRs 290 Cr
Debt to equity0.44x
Net debt / EBITDA1.02x
Interest coverage6.04x
Current ratio (filing 2026-03-31)1.23x
Quick ratio (filing 2026-03-31)0.71x
Trade payables (filing 2026-03-31)Rs 159 Cr
Owners' fund to total sources55.09%
Debt to assets24.37%
Cash flow
Cash from Operating Activity (latest year)Rs 207 Cr
Cash from Investing Activity (latest year)Rs -60 Cr
Cash from Financing Activity (latest year)Rs -121 Cr
Net Cash Flow (latest year)Rs 27 Cr
Free cash flow (latest year)Rs 181 Cr
FCFE (approx.: FCF + change in debt)Rs 102 Cr
Cash from ops / profit, 5 years1.40x
Sales to cash flow11.15x
Statement figures
Net sales (TTM)Rs 2,359 Cr
Net sales (latest year)Rs 2,312 Cr
Sales (latest quarter)Rs 640 Cr
Operating profit excl. other income (latest year)Rs 234 Cr
Operating profit (latest quarter)Rs 85 Cr
Other income (TTM)Rs 5 Cr
EBITDA (TTM)Rs 284 Cr
PBDT (TTM)Rs 244 Cr
Profit before tax (TTM)Rs 199 Cr
Tax (latest year)Rs 38 Cr
Net profit (TTM)Rs 147 Cr
Net profit (latest year)Rs 107 Cr
Net profit (latest quarter)Rs 54 Cr
Depreciation (TTM)Rs 45 Cr
Depreciation (latest quarter)Rs 11 Cr
Interest (TTM)Rs 39 Cr
Cost of goods sold (latest year)Rs 1,918 Cr
Total expenditure (latest year)Rs 2,079 Cr
Total income (latest year)Rs 2,310 Cr
Share capitalRs 6 Cr
ReservesRs 712 Cr
Shareholders' fundsRs 719 Cr
Total assetsRs 1,304 Cr
Net blockRs 696 Cr
Capital work in progressRs 7 Cr
InvestmentsRs 47 Cr
ReceivablesRs 206 Cr
InventoryRs 223 Cr
Other liabilitiesRs 268 Cr
Shares outstanding (crore)6.24
Ownership
Promoter holding66.80% (+0.09 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 6.8 is at the 2th percentile of its own 9.4-year range (median 17.0, low 5.2, high 82.8).
P/B 1.40 is at the 29th percentile (median 1.72).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGULPOLYNifty 50Difference
1 week-4.5%-2.8% -1.7 pts
1 month-14.1%-6.8% -7.3 pts
3 months-15.7%-7.6% -8.0 pts
6 months+12.3%+0.4% +11.9 pts
1 year+6.3%-9.9% +16.3 pts
2 years-32.4%-13.6% -18.8 pts
3 years-28.2%+14.2% -42.4 pts
5 years-31.1%+27.9% -59.0 pts

Red flags

F-score 8 of 8
lookAuditor change Auditor change 2026-05-22: Gulshan Polyols Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹640 Cr +7.9% vs Jun 2025. Net profit ₹54 Cr +315.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-28Dividend - Rs 1.50 Per Share
2025-09-11Dividend - Re 0.30 Per Share
2024-09-12Dividend - Re 0.30 Per Share
2024-09-12Annual General Meeting
2023-09-22Annual General Meeting//Dividend - Rs 0.50 Per Share
2023-06-21Bonus 1:50.8333
2022-09-19Annual General Meeting/Dividend - Re 1 Per Share
2021-11-16 Interim Dividend - Re 1 Per Share
2021-09-08 Annual General Meeting/Dividend - Rs 0.40 Per Share
2020-11-17 Interim Dividend - Rs 0.60 Per Share
2020-09-10 Annual General Meeting
2020-02-27 Interim Dividend - Re 0.70 Per Share
2019-09-12 Annual General Meeting/Dividend - Rs 0.30 Per Share
2018-11-19 Interim Dividend - Re 0.40 Per Share
2018-08-23 Annual General Meeting/Dividend- Re 0.30 Per Share
2017-11-23 Interim Dividend - Rs 0.40 Per Share
2017-06-29 Annual General Meeting/Dividend - Re 0.30 Per Share
2016-12-27 Fv Splt Frm Rs 5 To Re 10.2000
2016-11-10 Interim Dividend - Rs 2/- Per Share (Purpose Revised)
2016-06-16 Dividend - Rs 1.75/- Per Share
2015-11-10 Interim Dividend - Rs 1.75 Per Share
2015-07-16Annual General Meeting / Dividend - Rs 1.75/- Per Share
DateTypeWhat it says
2026-09-17Concall / analyst meetSchedule of meet
2026-09-15Shareholder meetingThe Company is submitting a revised copy of Scrutinizers Report along with voting results of the 26th Annual General Meeting of the Company, held on F...
2026-09-15Shareholder meetingGulshan Polyols Limited: The Company is hereby submitting a revised copy of Scrutinizers Report along with the Voting Results of the 26th Annual Gener...
2026-09-14Shareholder meetingVoting results.
2026-09-11Shareholder meetingProceedings of Annual General Meeting held on September 11, 2026
2026-08-18UpdatesBusiness Responsibility and Sustainability Report.
2026-08-18Shareholder meetingNotice of 26th Annual General Meeting of the Company to be held on September 11, 2026
2026-08-17General UpdatesThe receipt of additional allocation for supply of Ethanol to OMCs.
2026-08-17General UpdatesThe Intimation regarding 26th Annual General Meeting of the Company to be held on Friday, September 11, 2026.
2026-08-13Record DateRecord date for the purpose of Dividend is 28-Aug-2026.
2026-08-12Concall / analyst meetTranscript of the Earnings Call held on August 07, 2026, for the quarter ended June 30, 2026.
2026-08-07Concall / analyst meetLink of Recording
2026-08-06Investor PresentationInvestor Presentation
2026-08-06ESOPGrant of ESOP under GPL Employees Stock Option Scheme, 20l8.
2026-08-06Change in ManagementRe-appointment of Mr. Vardhman Doggar as a Non Executive Independednt Director (DIN: 07148980)
2026-08-06Board meeting outcomeGulshan Polyols Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-04Concall / analyst meetSchedule of meet
2026-07-24Credit Rating- NewCredit Rating.
2026-07-24UpdatesMedia Interaction with NDTV profit India.
2026-07-17UpdatesUpdate.
2026-07-13UpdatesMedia Interaction with ET Now Swadesh.
2026-07-07UpdatesMedia Interaction with ET Now.
2026-07-06Disclosure under SEBI TakeovDr. Chandra Kumar Jain has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substa...
2026-07-03UpdatesUpdate.
2026-06-09UpdatesIntimation regarding Media Interaction with NDTV profit.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-08-02NCLTGulshan Polyols Ltd Vs Modinagar Paper Mills Ltd
2021-03-01NCLTGulshan Polyols Ltd Vs Sujala Pipes Pvt Ltd
2021-03-01NCLTGulshan Polyols Ltd Vs Modinagar Paper Mills Ltd
2021-02-15NCLTGulshan Polyols Ltd Vs Modinagar Paper Mills Ltd
2021-01-04NCLTGulshan Polyols Ltd Vs Modinagar Paper Mills Ltd
2020-03-20NCLTGulshan Polyols Ltd Vs Sujala Pipes Pvt Ltd
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Gulshan Polyols Ltd?

Gulshan Polyols Ltd (GULPOLY) has a market capitalisation of Rs 1,027 Cr. at the 2026-10-01 close.

What is the P/E ratio of Gulshan Polyols Ltd?

Gulshan Polyols Ltd trades at a P/E of 6.96 on trailing twelve-month profit, at the 2026-10-01 close.

What were Gulshan Polyols Ltd's latest quarterly results?

In the Jun 2026 quarter, Gulshan Polyols Ltd sales was Rs 640 Cr (+7.9% vs Jun 2025) and net profit was Rs 54 Cr.

What is the 52-week high and low of Gulshan Polyols Ltd?

The 52-week high is Rs 227.63 and the 52-week low is Rs 121.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03