Gulshan Polyols Ltd (BOM:532457)

Q2 2026 Gulshan Polyols Ltd Earnings Call Transcript

Nov 11, 2025 / 06:30 AM GMT

Release Date Price: ₹152.2 (-3.46%)

Transcript

Key Points

Positve

Gulshan Polyols Ltd (BOM:532457) reported a significant year-over-year revenue growth of 23%.
The company achieved a remarkable 140% increase in EBITDA year-over-year.
There was an impressive 1,000% growth in the bottom line, indicating a strong recovery mode.
The company received a Production Linked Incentive (PLI) from the MP government, which will be treated as other income.
Operational efficiencies and grain price corrections have contributed to improved margins in the ethanol segment.

Negative

The company has seen a significant increase in borrowings to fund working capital requirements due to revenue growth.
The grain processing division faced challenges due to overcapacity and competition from China, leading to temporary suspension of the starch product.
The company is experiencing skewed margins in the grain processing division due to overcapacity in the country.
There is a dependency on government allocations for ethanol production, which affects capacity utilization.
The company anticipates a potential drop in revenue by 5-10% in the mineral processing business, although margins are being maintained.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GULS.NS - Gulshan Polyols Ltd
Q2 2026 Gulshan Polyols Ltd Earnings Call
Nov 11, 2025 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Gulshan Polyols Limited Q2 FY26 earnings call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded.

Today we have with us Miss Adti Vasari, joint managing director, and Mr. Rajiv Gupta, CFO. I now hand the conference over to Miss Adti Vasari, joint managing director.

Thank you and over to you, ma'am.

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