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Gulshan Polyols (GULPOLY)₹164.43+1.60%Other Agricultural Products
In the Jun 2026 quarter (standalone), Gulshan Polyols reported sales of ₹639 Cr, up 7.9% from Jun 2025, and net profit of ₹53.81 Cr, up 315.5% year on year. For the year to Mar 2026, sales were ₹2,308 Cr and net profit ₹107 Cr.
Company filings, standalone accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 307 | 370 | 405 | 454 | 439 | 609 | 514 | 592 | 541 | 625 | 550 | 639 |
| Expenses | 292 | 361 | 386 | 431 | 424 | 584 | 487 | 558 | 501 | 543 | 486 | 556 |
| Operating Profit | 16.02 | 11.01 | 18.99 | 23.99 | 16.01 | 27.04 | 29.02 | 37.01 | 42.02 | 85.08 | 66.06 | 85.02 |
| OPM % | 5.0% | 2.9% | 4.8% | 5.0% | 3.7% | 4.4% | 6.1% | 6.0% | 8.1% | 14.0% | 12.1% | 13.1% |
| Other Income | 4.01 | 3.01 | 1.01 | 1.99 | 0.99 | 0.99 | 0.99 | 2.01 | 0.00 | 0.00 | −1.01 | 6.01 |
| Interest | 3.99 | 1.01 | 3.99 | 3.99 | 6.99 | 7.99 | 8.99 | 7.99 | 7.99 | 15.99 | 7.99 | 7.01 |
| Depreciation | 9.97 | 4.99 | 8.98 | 7.98 | 7.97 | 10.98 | 9.98 | 10.98 | 10.97 | 11.96 | 10.97 | 10.97 |
| Profit before tax | 7.01 | 8.01 | 8.01 | 12.99 | 2.01 | 8.99 | 11.01 | 20.02 | 22.01 | 58.02 | 46.02 | 72.99 |
| Tax % | 67.1% | 42.1% | 23.1% | 25.0% | 33.1% | 25.0% | 33.1% | 34.0% | 31.1% | 29.0% | 18.1% | 27.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 1.99 | 4.98 | 5.97 | 9.97 | 0.99 | 6.98 | 6.98 | 12.95 | 15.94 | 40.82 | 37.88 | 53.81 |
| EPS (Rs) | 0.37 | 0.76 | 1.03 | 1.57 | 0.22 | 1.10 | 1.14 | 2.12 | 2.50 | 6.58 | 6.04 | 8.61 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 432 | 491 | 615 | 673 | 619 | 765 | 1,099 | 1,178 | 1,376 | 2,016 | 2,308 | 2,356 |
| Expenses | 373 | 432 | 548 | 591 | 553 | 636 | 952 | 1,093 | 1,321 | 1,925 | 2,086 | 2,085 |
| Operating Profit | 61.01 | 60.07 | 69.06 | 83.99 | 69.03 | 131 | 150 | 88.04 | 57.99 | 97.06 | 230 | 278 |
| OPM % | 14.1% | 12.1% | 11.1% | 12.1% | 11.1% | 17.1% | 14.1% | 7.0% | 4.2% | 4.8% | 10.1% | 11.8% |
| Other Income | 5.01 | 3.99 | 2.01 | 2.01 | 1.01 | 1.99 | 2.01 | 6.99 | 12.01 | 2.99 | 2.01 | 5.00 |
| Interest | 3.99 | 5.99 | 11.01 | 13.99 | 11.01 | 7.01 | 5.01 | 5.99 | 9.99 | 27.98 | 40.99 | 38.98 |
| Depreciation | 23.96 | 27.92 | 35.89 | 43.89 | 30.91 | 32.94 | 31.91 | 28.93 | 31.93 | 36.93 | 44.87 | 44.87 |
| Profit before tax | 38.04 | 30.03 | 24.01 | 26.99 | 27.02 | 94.11 | 115 | 60.04 | 28.03 | 35.03 | 145 | 199 |
| Tax % | 19.1% | 10.0% | 23.1% | 21.0% | 25.1% | 33.0% | 26.1% | 25.1% | 36.1% | 28.1% | 26.1% | — |
| Exceptional items | 0.00 | 0.00 | 1.01 | 1.01 | 0.00 | 1.01 | 1.01 | 2.01 | 7.01 | 1.01 | 0.00 | 0.00 |
| Net Profit | 29.88 | 26.89 | 17.94 | 20.92 | 20.94 | 61.82 | 84.63 | 44.82 | 17.92 | 24.92 | 107 | 148 |
| EPS (Rs) | 5.50 | 4.88 | 3.25 | 3.82 | 3.67 | 11.13 | 14.44 | 7.30 | 2.84 | 3.98 | 17.24 | 23.73 |
| Dividend payout % | 11.0% | 39.0% | 18.0% | 15.0% | 16.0% | 8.0% | 12.0% | 6.0% | 11.0% | 8.0% | 9.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.00 | 5.00 | 5.00 | 5.00 | 4.99 | 5.00 | 5.00 | 5.00 | 5.00 | 6.00 | 5.99 | 5.99 |
| Reserves | 198 | 229 | 254 | 268 | 286 | 302 | 362 | 531 | 571 | 585 | 608 | 713 |
| Borrowings | 100 | 148 | 163 | 182 | 145 | 101 | 11.01 | 112 | 248 | 349 | 392 | 313 |
| Other Liabilities | 47.23 | 54.27 | 79.37 | 58.28 | 47.23 | 51.25 | 121 | 127 | 165 | 218 | 319 | 273 |
| Total Liabilities | 349 | 437 | 503 | 514 | 483 | 458 | 497 | 776 | 991 | 1,159 | 1,325 | 1,306 |
| Fixed Assets | 142 | 145 | 198 | 298 | 273 | 260 | 241 | 240 | 279 | 522 | 719 | 696 |
| CWIP | 7.01 | 97.30 | 97.19 | 1.01 | 5.02 | 3.01 | 3.01 | 91.30 | 279 | 183 | 4.01 | 7.02 |
| Investments | 4.99 | 6.99 | 7.99 | 5.99 | 0.00 | 0.00 | 0.00 | 25.98 | 22.97 | 14.99 | 16.98 | 46.91 |
| Other Assets | 196 | 188 | 200 | 210 | 205 | 194 | 253 | 418 | 410 | 439 | 586 | 556 |
| Inventories | 40.07 | 42.07 | 79.14 | 74.13 | 53.10 | 86.15 | 90.17 | 108 | 157 | 150 | 290 | 0.00 |
| Trade receivables | 63.79 | 73.77 | 88.77 | 116 | 99.68 | 81.73 | 97.78 | 120 | 142 | 167 | 184 | 206 |
| Cash & equivalents | 68.91 | 44.96 | 3.99 | 2.99 | 25.97 | 2.99 | 18.98 | 123 | 5.99 | 10.01 | 2.99 | 28.01 |
| Total Assets | 349 | 437 | 503 | 514 | 483 | 458 | 497 | 776 | 991 | 1,159 | 1,325 | 1,306 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 50.03 | 55.03 | 81.07 | 42.03 | 87.02 | 43.98 | 106 | 61.01 | 15.99 | 65.99 | 42.04 | 207 |
| Cash from investing activity | −11.03 | −116 | −81.07 | −37.04 | −17.03 | −16.03 | −12.03 | −136 | −247 | −158 | −54.09 | −60.13 |
| Cash from financing activity | −1.99 | 35.91 | −0.99 | −3.98 | −47.83 | −50.83 | −78.80 | 169 | 124 | 87.70 | 12.95 | −121 |
| Net cash flow | 36.95 | −24.95 | −1.99 | 1.99 | 21.96 | −22.98 | 14.98 | 94.82 | −108 | −3.99 | 0.00 | 26.95 |
| Capex | 22.10 | 118 | 85.36 | 40.72 | 23.85 | 17.50 | 14.70 | 114 | 255 | 180 | 56.43 | 26.46 |
| Free cash flow | 27.90 | −61.77 | −2.99 | 1.99 | 63.80 | 27.91 | 92.63 | −51.80 | −237 | −113 | −13.95 | 180 |
| CFO / OP % | 104.0% | 103.0% | 143.1% | 66.1% | 113.0% | 73.0% | 93.1% | 60.0% | 37.1% | 125.0% | 48.1% | 97.1% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 60 | 63 | 67 | 70 | 55 | 49 | 48 | 41 | 45 | 45 | 34 | 33 |
| Inventory days | 87 | 76 | 116 | 84 | 54 | 89 | 89 | 69 | 82 | 62 | 76 | 0 |
| Days payable | 35 | 38 | 67 | 37 | 20 | 29 | 54 | 36 | 41 | 51 | 59 | — |
| Cash conversion cycle | 111 | 100 | 116 | 116 | 88 | 109 | 81 | 73 | 85 | 55 | 50 | 33 |
| Working capital days | 20 | 29 | 11 | 14 | 11 | 30 | 56 | 25 | 32 | 26 | 8 | 10 |
| ROCE % | 11.9% | 11.9% | 9.0% | 8.0% | 8.9% | 9.0% | 24.9% | 23.0% | 9.0% | 3.0% | 6.0% | 18.0% |
For the Jun 2026 quarter, Gulshan Polyols reported sales of ₹639 Cr, up 7.9% year on year and net profit of ₹53.81 Cr, up 315.5% year on year. The operating margin was 13.1%.
Gulshan Polyols' sales for the year to Mar 2026 were ₹2,308 Cr; over the last twelve months they were ₹2,356 Cr.
Net profit for the year to Mar 2026 was ₹107 Cr, and ₹148 Cr over the last twelve months. Earnings per share over the same trailing period were ₹23.73.
Gulshan Polyols reported borrowings of ₹313 Cr at Mar 2026, against cash and equivalents of ₹28.01 Cr.
Cash from operations was ₹207 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹180 Cr.