Gulshan Polyols Wins 1,184.86 Crore Ethanol Supply Contract; Shares Soar By Almost 10%.

New Delhi, October 23, 2025: The share price of Gulshan Polyols Limited (NSE: GULPOLY, BSE: 532457) surged 9.72% to ₹155.46 on Thursday morning, following the announcement of a large allocation of ethanol supply under the Government of India’s Ethanol Blended Petrol Programme (EBPP).

In early morning trading, the stock opened on a strong note at ₹164, touched an intraday high of ₹164. Later, it settled slightly lower, pushing the company’s market capitalisation beyond ₹965 crore.

Gulshan Polyols Limited was founded in 2000 and has grown to become one of India’s largest manufacturers of industrial chemicals, specialty alcohols and starch derivatives. The business operates across several verticals, including bio-based ethanol, liquid glucose and precipitated calcium carbonate, with trading on NSE and BSE exchanges.

Major Ethanol Supply Allocation Worth ₹1,184.86 Crore

Gulshan Polyols revealed that it has been awarded a total ethanol supply order amounting to 175,652 kiloliters (KL) for the Ethanol Supply Year (ESY) 2025–26, valued at approximately ₹1,184.86 crore. The allocation was granted by major Oil Marketing Companies (OMCs), namely Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Mangalore Refinery and Petrochemicals Limited (MRPL).

The supply contract is part of the domestic procurement process for ethanol under the EBPP and is planned to be executed during the 2025–26 supply year. Gulshan Polyols has indicated that this order has no promoter involvement or related party transaction. This large-scale allocation also strengthens Gulshan’s role as an important participant in India’s ethanol blending program, which aims to reduce dependence on crude oil imports and increase the use of renewable biofuels in the energy sector.

₹5.38 Crore Incentive Under MP Industrial Assistance Scheme

In another update, Gulshan Polyols announced that it received ₹5.38 crore as Production Linked Fiscal Assistance from Madhya Pradesh Industrial Development Corporation Limited (MPIDC). The incentive was provided for FY 2023-24 as part of the MP Investment Promotion Assistance Scheme, 2014.

This financial assistance is granted in appreciation of the company’s capital and investment in performance and inflation mitigation in Madhya Pradesh. The incentive exceeds what the company received from the MPIDC. It will help justify future investments and operations in an expanding and more efficient manufacturing process, as we work within the state’s industrial development program. This shows the government’s ongoing support of industries that support renewable and sustainable production objectives.

Market Response And Key Financials

At 10:40 AM IST, Gulshan Polyols’ shares were trading 8.77% higher at ₹154.12, with 5.08 lakh shares traded and a total traded value of ₹8 crore. The Volume Weighted Average Price (VWAP) was recorded at ₹157.53, while the delivery ratio stood at 56.95%.

The stock has been trading between ₹153 and ₹164 so far. It has a 52-week trading range between ₹137.05 and ₹234.00, indicating its volatility in the past year. The market cap for the firm stands at ₹965.43 crore, the free float market cap is ₹303.28 crore, and the price-to-earnings (P/E) ratio is 30.86. The previous close was ₹141.69, which is a material gain in today’s session.

The sharp uptick in trading volumes and valuation indicates strong investor sentiment following the ethanol allocation announcement and the receipt of government incentives.

Gulshan Polyols is still establishing itself in the Indian green energy and renewable fuel industries following the recent ethanol supply contract with the Madhya Pradesh government that offered financial aid. Such events support the organisation’s strategic inclination towards sustainability agendas and the country’s increased interest in alternative energy solutions.

REF:https://nsearchives.nseindia.com/corporate/GULPOLY_21102025172325_SEintimationOCT25.pdf

https://nsearchives.nseindia.com/corporate/GULPOLY_21102025172101_SEIntimationEthanolOCT25.pdf

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