Gulshan Polyols Bags MP Liquor Supply Order; Shares Rise 1.36%

Mumbai, July 3: Gulshan Polyols Ltd. has been awarded a fresh supply order by the Madhya Pradesh Excise Department to supply country liquor across six districts during the 2026-27 excise year, the company said in an exchange filing on Friday.

The allocation covers approximately 103.6 lakh proof litres and spans Betul, Chhindwara, Sidhi, Singrauli, Pandhurna and Balaghat. The filing does not disclose the monetary value of the order.

Supply Allocation Extends Presence In Madhya Pradesh

The order forms part of Madhya Pradesh’s annual excise allocation process, under which manufacturers are assigned supply responsibilities district-wise for the coming excise cycle.

For Gulshan Polyols, this is less about entering a new market and more about retaining business in a regulated segment where supply contracts are awarded by state authorities. The company will supply country liquor to six districts over the 2026-27 period once the allocation comes into effect.

Unlike commercial purchase orders, these allocations are volume-based. In this case, the company has been assigned 103.6 lakh proof litres, a standard industry measure used to quantify alcohol production and supply.

Stock Market Snapshot

The disclosure coincided with a modest rise in the stock.

Gulshan Polyols share price was trading at ₹191.78, up 1.36%, as of 3:31 PM IST on July 3, 2026.

The stock spent most of the trading session moving within a narrow band before extending gains during the final minutes of trade.

Company Background

Gulshan Polyols operates businesses spanning grain processing, ethanol, specialty chemicals and distillery products. Its liquor division manufactures country liquor and extra neutral alcohol, while the broader business also supplies ethanol to oil marketing companies and industrial customers.

State excise allocations remain an important part of the liquor business because they provide visibility on production volumes for the upcoming excise year, even when the financial value of individual allocations is not disclosed.

Conclusion

The latest allocation keeps Gulshan Polyols in Madhya Pradesh’s country liquor supply network for another excise cycle. Although investors do not yet know the revenue the order could generate, the assigned volume provides an early indication of production commitments for FY27. For liquor manufacturers operating in regulated markets, retaining these annual allocations is often as significant as winning entirely new business.

Source:

• https://www.nseindia.com/get-quote/equity/GULPOLY/Gulshan-Polyols-Limited
• https://nsearchives.nseindia.com/corporate/GULPOLY_03072026153018_Intimation.pdf