Gulshan Polyols FY26 Revenue ₹2,314 Cr, PAT ₹107 Cr; Ethanol drives strong performance
Gulshan Polyols Limited reported FY26 revenue of ₹2,314 crore (up 14% YoY) and PAT of ₹107 crore (up 334% YoY). Q4 FY26 revenue grew 7% to ₹550 crore, with PAT up 435% to ₹38 crore. EBITDA margins expanded significantly to 10.0% for FY26, driven by strong ethanol segment performance. The company targets FY27 revenue of ₹2,600-2,800 crore.
The announcement details strong financial performance, significant growth in key metrics like revenue and profit, improved margins, and positive future guidance, all of which are material to investors.
The company reported significant year-on-year growth in revenue and profit for both the full year and the fourth quarter, along with substantial expansion in EBITDA margins. The outlook for FY27 is also positive, with revenue growth targets.
Gulshan Polyols Limited has reported its audited financial results for the quarter and financial year ended March 31, 2026. The company's total revenue for FY26 stood at ₹2,314 crore, marking a 14% increase year-on-year from ₹2,025 crore in FY25. Profit After Tax (PAT) for the full year surged by 334% to ₹107 crore, compared to ₹25 crore in the previous fiscal.
The fourth quarter of FY26 also showed robust growth, with total revenue increasing by 7% to ₹550 crore from ₹516 crore in Q4 FY25. PAT for the quarter saw a significant jump of 435%, reaching ₹38 crore from ₹7 crore in the same period last year.
EBITDA for FY26 grew by 131% to ₹232 crore, with EBITDA margins expanding to 10.0% from 5.0% in FY25. In Q4 FY26, EBITDA increased by 121% to ₹65 crore, and the EBITDA margin improved to 11.9% from 5.8% in Q4 FY25.
The company highlighted that its ethanol segment delivered its strongest performance to date, driven by successful capacity ramp-ups. The Grain Processing segment is showing early signs of demand recovery, while Mineral Processing maintained a stable performance. Gulshan Polyols also received incentives totaling ₹21.8 crore from MPIDC.
Looking ahead to FY27, the company is focusing on consolidation and improving efficiency, targeting utilization levels of 80-90% across key divisions, with revenue growth projected between ₹2,600 to ₹2,800 crore. From FY28 onwards, Gulshan Polyols intends to re-enter a growth phase focusing on specialty and import-substitute chemicals.
Key financial data for FY26 includes Revenue of ₹2,314 crore, PAT of ₹107 crore, and EBITDA margins of 10.0%. The company's balance sheet shows equity at ₹719 crore and total assets at ₹1,304 crore as of March 31, 2026. Cash flow from operations for FY26 was ₹207 crore.
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