Gulshan Polyols share price today

Gulshan Polyols Ltd's share price was ₹159.21 at the close on 4 November 2026. It has been falling for 2 weeks. That is 8.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹126 and ₹215, and at that close it sat 37% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Gulshan Polyols Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 15 weeks running.

Over the last 11 years the share price moved +201% while the NIFTY 500 moved +243%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 24 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹640 crore, +7.9% on a year earlier.

   Why: Revenue rose because the company is getting more out of its existing ethanol plants and has government orders.

   Next results: check how many ethanol litres the company wins in tenders and how much of its plants it uses against the FY27 plan.

   From the earnings call on 25 Sep 2026.

3. Profit up on a year earlier for 7 quarters in a row

   In the June 2026 quarter profit was ₹54 crore, +315.4% on a year earlier.

   Next results: check whether the weak second quarter from maize costs is followed by the recovery management expects.

   From the earnings call on 25 Sep 2026.

For April to June 2026 (the quarter ended 30 June 2026), Gulshan Polyols reported revenue of ₹640 crore, up 7.9% from ₹593 crore a year earlier, and a profit of ₹54.0 crore, up 315.4% from ₹13.0 crore.

Gulshan Polyols results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Gulshan Polyols' management discussed these results on a call held on 25 September 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Gulshan Polyols closed at ₹159.21 on 4 November 2026, up 3.3% from ₹154.06 a year earlier (7 November 2025) and down 31.5% over five years. Its highest weekly close since April 2016 was ₹351.21 on 4 February 2022.

Gulshan Polyols share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

560 weekly closes from 1 April 2016 to 4 November 2026.

4 Nov 2026: Gulshan Polyols closed at ₹159.21, up 11.7% on the week and down 1.7% on the month. 25 Sep 2026: Gulshan Polyols held its results call for April to June 2026. Management guided: FY27 consolidated operating margin 10-11%, approximately ₹250-260 crore operating profit; Q2 may be weak, with Q3/Q4 recovery.

Earlier

• 28 Aug 2026: ex-date for a dividend of ₹1.50 a share.
• Results for April to June 2026: Revenue up 7.9% and profit up 315.4% on a year earlier.

Gulshan Polyols paid ₹1.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.94% at the ₹159.21 close on 4 November 2026. The last was a dividend of ₹1.50 a share, ex-date 28 August 2026.

Gulshan Polyols dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Gulshan Polyols Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 25 September 2026, Gulshan Polyols' management guided: FY27 consolidated operating margin 10-11%, approximately ₹250-260 crore operating profit; Q2 may be weak, with Q3/Q4 recovery.

“We would not like to undertake further expansion of ethanol capacity without any assurance from the government or any offtake agreements, given the uncertainty. We need to take more regulated risks.”Aditi Pasari, Joint Managing Director, on the call for April to June 2026

What management guided

• FY27 ethanol output 21-22 crore litres; 13.5 crore litres contracted through 2031, balance via priority and tenders; utilization planned at 100% or 26 crore litres.
• FCI rice availability assured at 40% for next ESY, potentially 50%; formula-based ethanol pricing to offset price revisions.
• FY28 revenue ₹2,800-3,000 crore with operating profit and profit margins similar to FY27 guidance.
• Specialty/import-substitute project: ₹400-500 crore capital spending under evaluation, possible FY28/FY29 start, at least 24 months to sales after finalization; funding mix debt/internal accruals.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 25 September 2026.

When Gulshan Polyols reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Next results: Q2 earnings weakness from maize costs versus the expected subsequent recovery - check whether input pressure tracks management's sequence.

Gulshan Polyols is on one of our India lists: Undervalued stocks.

Gulshan Polyols Ltd earned ₹54.0 Cr of net profit in the Jun 2026 quarter, +315.4% on the same quarter a year earlier. That is the 7th quarter in a row of profit growth. Full-year FY26 profit was ₹107 Cr. Over 10 years profit has grown 13.6% a year on average. That is 8.4% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹13.0 Cr.

For the full year, FY26 profit was ₹107 Cr (+328.0% on the year before).

Why profit moved: revenue changed +7.9% on a year earlier and the margin moved +7.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +686.0% and revenue +10.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Gulshan Polyols Ltd reported ₹640 Cr of revenue in the Jun 2026 quarter, +7.9% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 18.2% a year on average. The last full year, FY26, came in at ₹2,312 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹2,360 Cr.

FY26 revenue was ₹2,312 Cr, +14.5% on the year before.

Recent pace: the last four quarters grew +10.2% on average, against 18.2% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +9.4%, against +23.8% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +432.1%, against +154.5% a year (accelerating).

Gulshan Polyols Ltd's operating margin was 13.0% in the Jun 2026 quarter, 7.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 4.2% and 17.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +7.1 percentage points on the year while gross margin changed +9.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 210% of Gulshan Polyols Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹207 Cr of operating cash against ₹107 Cr of profit. After ₹26.0 Cr of spending on assets, ₹181 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 210% of profit came in as cash: the cash cycle got 32 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.3× depreciation over three years. The next section checks what that spending is building.

Gulshan Polyols Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 48 days in FY26, down from 80 days in FY21. It spent ₹260 Cr on assets over the last 3 years. Customers take 32 days to pay, and stock sits for 53 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,312 Cr, each day of that cycle ties up about ₹6.3 Cr, so roughly ₹304 Cr is tied up in the business at any time.

FY26: customers took 32 days to pay and stock sat for 53 days, about 1.7 months of sales sitting as stock, for a full cycle of 48 days, shorter than FY21's 80.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 53 days. Customers pay about 32 days after that. Suppliers are paid at 38 days. Together that makes the 48-day cycle.

Spending on assets: ₹260 Cr over the last 3 years, against ₹114 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹7.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Gulshan Polyols Ltd's P/E is 6.7×, about the lowest it has ever been. Its usual P/E (the middle reading) is 15.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.