Is Gulshan Polyols Ltd (GULPOLY) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gulshan Polyols Ltd is a below average quality company .

Is Gulshan Polyols Ltd (GULPOLY) undervalued or overvalued?

The key valuation ratios of Gulshan Polyols Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone .

What is Gulshan Polyols Ltd (GULPOLY) share price return in the past 10 years?

Gulshan Polyols Ltd share price has appreciated 11.8% annually (CAGR) over the past ten years.

Is Gulshan Polyols Ltd (GULPOLY) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Gulshan Polyols Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Gulshan Polyols Ltd (GULPOLY)?

Company share prices are keep on changing according to the market conditions. The current trading price of Gulshan Polyols Ltd (GULPOLY) on 13-Apr-2026 16:59:59 at 16:59 is 170.20.

What is the P/E ratio of Gulshan Polyols?

The latest standalone P/E ratio of Gulshan Polyols as of 13-Apr-2026 is 13.85.

What is the P/B ratio of Gulshan Polyols Ltd (GULPOLY)?

The latest standalone P/B ratio of Gulshan Polyols Ltd (GULPOLY) as of 13-Apr-2026 is 1.56.

What is the 52-week high and low of Gulshan Polyols Ltd (GULPOLY)?

The 52-week high of Gulshan Polyols Ltd (GULPOLY) is Rs. 220.00 and the 52-week low is Rs. 121.75.

Gulshan Polyols Ltd (GULPOLY) Share Analysis – Brand Strength, Quality & Valuation Zone & DeciZen Rating

Name: Gulshan Polyols Ltd (GULPOLY)
Brand: Gulshan Polyols

Gulshan Polyols Ltd (GULPOLY) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Gulshan Polyols Ltd (GULPOLY)

BSE: 532457 NSE: GULPOLY

Key Metrics

Market Cap

₹1,062 Cr.

P/E Ratio

13.85

Price to Book (P/B)

1.56

Price to Sales (P/S)

0.47

EV/EBITDA

7.69

Return on Capital Employed (ROCE)

6.47%

Current Price

₹170.2

Return on Equity (ROE)

4.12%

Return on Assets (ROA)

2.00%

Operating Profit Margin

4.8%

Net Profit Margin

1.23%

Gross Profit Margin

3.6%

Book Value per Share

₹109.2

Sales Growth (YoY)

46.57%

Sales Growth (3 Years)

22.42%

Operating Profit Growth (1 Year)

63.6%

Operating Profit Growth (3 Years)

-14.1%

Net Profit Growth (1 Year)

40.53%

52-Week Low / High

₹122 / 220

Net Profit Growth (3 Years)

-33.75%

Dividend Yield

0.17%

Promoter Holding

66.80%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of Gulshan Polyols Ltd?

Gulshan Polyols Ltd revenue growth is 46.6% for FY-2025 , which is above its 5 year CAGR of 26.6% , indicating faster growth.

Q.1 Promoter shareholding and pledge status of Gulshan Polyols Ltd?

Promoters hold 66.80% of the Gulshan Polyols Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Gulshan Polyols Ltd vs industry peers?

Gulshan Polyols Ltd revenue CAGR is 26.61% , compared to the industry median CAGR of 11.97% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Gulshan Polyols Ltd belong to?

Gulshan Polyols Ltd belongs to the FMCG sector, operating specifically within the Breweries & Distilleries segment.

Q.1 Stock return of Gulshan Polyols Ltd over the last decade?

Over the last 9 years, the stock has delivered a CAGR of 11.8% based on the current price.

DeciZen - make an informed investing decision on Gulshan Polyols

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation ⓘ

3. Price Trend

Gulshan Polyols stock performance

Key Ratios

Is Gulshan Polyols Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	12.2%	9.2%	7.9%	9.3%	9.2%	25.3%	23.2%	9.1%	4.3%	6.5%	-
Value Creation Index ⓘ	-0.1	-0.3	-0.4	-0.3	-0.3	0.8	0.7	-0.4	-0.7	-0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	441	493	624	674	621	766	1,101	1,180	1,378	2,020	2,276
Sales YoY Gr.	-	11.7%	26.6%	8%	-7.9%	23.4%	43.7%	7.2%	16.8%	46.6%	-
Adj EPS ⓘ	5.5	4.6	3	3.7	3.7	10.3	13.5	7	1.8	3.8	12.3
YoY Gr.	-	-15.4%	-34.8%	23.2%	-1.6%	182.2%	31.1%	-48.5%	-74.5%	112.9%	-
BVPS (₹) ⓘ	41.7	46	48.5	51.6	54.2	63.3	85.8	92.2	94.7	98.3	109.2
Adj Net Profit ⓘ	30.4	26.1	17	20.9	20.6	61.5	84.5	43.5	11.1	23.7	77
Cash Flow from Ops. ⓘ	55.4	81	42.1	87.1	44.1	97.5	60.9	15.6	66.3	41.8	-
Debt/CF from Ops. ⓘ	2.5	2	4.3	1.7	2.3	0.1	1.8	15.9	5.3	9.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	18.4%	26.6%	22.4%	46.6%
Adj EPS ⓘ	-4%	0.7%	-34.6%	112.9%
BVPSⓘ	10%	12.6%	4.6%	3.9%
Share Price	11.8%	12.6%	-7.5%	-8.7%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	13.3	10.4	6.4	7.4	6.9	18	18.5	7.8	1.9	3.9	11.8
Op. Profit Mgn % ⓘ	13.8	12.3	11.1	12.4	11.1	17	13.6	7.5	4.2	4.8	8.5
Net Profit Mgn % ⓘ	6.9	5.3	2.7	3.1	3.3	8	7.7	3.7	0.8	1.2	3.4
Debt to Equity ⓘ	0.6	0.6	0.7	0.5	0.3	0	0.2	0.4	0.6	0.6	-
Working Cap Days ⓘ	103	117	117	103	108	103	88	108	110	91	47
Cash Conv. Cycle ⓘ	67	72	80	77	79	61	47	59	54	39	6

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	12.3	6.8
TTM Sales (₹ Cr.)	2,276	2,260
BVPS (₹) ⓘ	109.2	102.7
Reserves (₹ Cr.) ⓘ	675	634
P/BV ⓘ	1.56	1.66
PE ⓘ	13.85	24.89

From the Market
52 Week Low / High (₹)	121.75 / 220.00
All Time Low / High (₹)	0.17 / 357.50
Market Cap (₹ Cr.)	1,062
Equity (₹ Cr.)	6.2
Face Value (₹)	1
Industry PE ⓘ	52.8

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Gulshan Polyols - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	441	493	624	674	621	766	1,101	1,180	1,378	2,020
Operating Expenses ⓘ +	380	432	555	590	552	636	951	1,092	1,320	1,925
Manufacturing Costs	107	116	150	157	131	178	266	288	323	382
Material Costs	201	249	330	361	354	372	573	699	884	1,396
Employee Cost	17	20	22	22	22	29	36	33	32	42
Other Costs ⓘ	56	47	53	50	46	57	74	72	82	105
Operating Profit ⓘ	61	60	69	84	69	130	150	88	58	95
Operating Profit Margin (%)	13.8%	12.3%	11.1%	12.4%	11.1%	17.0%	13.6%	7.5%	4.2%	4.7%
Other Income ⓘ +	5	5	2	2	1	3	2	7	12	5
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	-0	0
Interest ⓘ	4	7	11	14	11	7	5	6	10	28
Depreciation ⓘ	24	28	36	44	31	33	32	29	32	37
Profit Before Tax ⓘ	38	30	24	27	27	94	115	60	28	35
Tax ⓘ	7	3	5	6	7	32	30	15	10	10
Profit After Tax	30	27	18	21	21	62	85	45	18	25
PAT Margin (%)	6.9%	5.6%	2.9%	3.2%	3.3%	8.1%	7.7%	3.9%	1.3%	1.2%
Adjusted EPS (₹)	5.3	4.9	3.2	3.8	3.7	10.4	13.7	7.3	2.8	4.0
Dividend Payout Ratio (%)	11%	12%	18%	15%	16%	8%	12%	6%	11%	8%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	242	259	273	291	305	376	535	575	590	613
Share Capital ⓘ	15	5	5	5	5	5	5	5	6	6
Reserves ⓘ	227	254	268	286	301	372	530	570	584	607
Debt +	115	134	145	115	81	11	109	205	293	323
Long Term Debt	86	75	70	41	21	11	47	128	228	170
Short Term Debt	29	59	75	75	60	0	61	78	65	153
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	22	46	33	21	29	56	58	80	127	230
Others Liabilities ⓘ	57	62	60	54	42	64	72	127	146	156
Total Liabilities ⓘ	436	502	511	481	457	507	774	988	1,157	1,323
Fixed Assets
Net Fixed Assets ⓘ +	145	197	298	273	260	241	237	276	518	716
Gross Block	292	225	362	382	399	412	441	507	781	1,016
Accumulated Depreciation	147	28	65	108	139	171	203	231	263	300
CWIP ⓘ	97	97	1	5	3	3	91	278	182	4
Investments ⓘ	7	8	6	0	0	1	26	23	15	17
Inventories	42	79	74	53	87	90	108	157	150	290
Trade Receivables	74	89	116	100	82	98	120	142	167	184
Cash Equivalents	45	4	3	26	2	20	123	6	10	3
Others Assets ⓘ	26	28	13	23	22	53	69	106	114	109
Total Assets ⓘ	436	502	511	481	457	507	774	988	1,157	1,323

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	55	81	42	87	44	98	61	16	66	42
PBT ⓘ	38	30	24	27	27	94	115	60	28	35
Adjustment ⓘ	24	30	46	57	41	38	35	31	30	62
Changes in Working Capital ⓘ	1	26	-24	10	-19	-18	-60	-59	15	-51
Tax Paid ⓘ	-7	-5	-3	-7	-6	-16	-30	-17	-6	-4
Cash Flow From Investing Activity ⓘ +	-116	-81	-37	-17	-16	-5	-136	-247	-158	-54
Capex	-118	-84	-40	-23	-17	-15	-113	-254	-179	-56
Net Investments	-2	0	3	6	0	-0	-24	6	20	0
Others ⓘ	4	3	0	1	1	11	1	1	1	2
Cash Flow From Financing Activity ⓘ +	36	-1	-4	-48	-51	-77	170	124	88	13
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	76	0	0	0
Net Proceeds from Borrowing ⓘ	54	-22	-5	-29	-19	-10	37	80	101	-58
Interest Paid ⓘ	-4	-6	-11	-14	-11	-7	-5	-6	-10	-28
Dividend Paid ⓘ	-6	-4	-3	-3	-5	-1	-3	-5	-3	-2
Others ⓘ	-8	30	15	-1	-16	-60	64	55	-0	102
Net Cash Flow ⓘ	-25	-2	2	22	-23	16	95	-108	-4	0

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	14.15	11.15	6.86	7.6	6.91	18.22	18.7	8.17	3.03	4.12
ROCE (%)	12.24	9.24	7.93	9.27	9.22	25.34	23.16	9.05	4.29	6.47
Asset Turnover Ratio	1.21	1.12	1.23	1.36	1.33	1.59	1.72	1.34	1.29	1.63
PAT to CFO Conversion(x)	1.83	3	2.33	4.14	2.1	1.58	0.72	0.36	3.67	1.68
Working Capital Days
Receivable Days	53	56	60	59	54	43	36	40	41	32
Inventory Days	32	42	45	35	41	42	33	41	41	40
Payable Days	35	50	44	27	26	42	36	36	43	47

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Gulshan Polyols Ltd FAQs

The current trading price of Gulshan Polyols on 13-Apr-2026 16:59 is ₹170.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2026 the market cap of Gulshan Polyols stood at ₹1,061.6 Cr

The latest P/E ratio of Gulshan Polyols as of 12-Apr-2026 is 13.85.

The latest P/B ratio of Gulshan Polyols as of 12-Apr-2026 is 1.56.

The 52-week high of Gulshan Polyols is ₹220.0 and the 52-week low is ₹121.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gulshan Polyols is ₹2,276 ( Cr.) .

About Gulshan Polyols Ltd

Gulshan Polyols Ltd. (GPL) was incorporated, to take over the Sorbitol project from Gulshan Sugars & Chemicals Ltd.(GSCL) in terms of scheme of Arrangement/ demerger.

The plant was set-up in 1996 in the State of Gujarat in the parent company i.e. Gulshan Sugars & Chemicals .The plant is equipped with International Quality Equipment and Technology having the largest capacity in India.

The plant is capable to produce Crystalline and Nonâ€“crystalline grade of Sorbitol which is a unique feature as compared to other domestic plants. The present installed capacity is 30000 Tones of Sorbitol.

Gulshan Group has diversified interests and is engaged in manufacture of various Industrial Chemicals for Multiple Applications in several companies. The Group was initially engaged in sugar business, which later diversified into the field of Industrial Chemicals. The Group set up its first Indigenous plant to produce â€˜Synthetic Fillersâ€™ popularly known as â€˜Calcium Carbonate (Caco3) â€˜Precipitated and Activatedâ€™ in the State of Uttar Pradesh where the high quality Limestone is available in plenty in nearby area.

The Board of Directors of the Gulshan Sugars & Chemicals and Gulshan Polyols at its meeting held on February 14, 2008, has considered the proposal for corporate restructuring involving merger / amalgamation and other related matters. The Board of Directors unanimously approved a proposal for amalgamation / merger of Gulshan Sugars & Chemicals Ltd with Gulshan Polyols Ltd subject to the approval of shareholders, High Court, Stock Exchange and other Regulatory Authorities and compliance of other applicable regulations.

Gulshan Polyols Ltd and Gulshan Sugars & Chemicals Ltd both jointly appointed Price Waterhouse Coopers (PWC) to carry out the valuation exercise and to suggest entitlement ratio upon amalgamation / merger of Gulshan Sugars & Chemicals Ltd with Gulshan Polyols Ltd. PWC have submitted their report to the Board of Directors and recommended the entitlement ratio as under:

The entitlement ratio for Issue of equity shares of Gulshan Polyols Ltd to the shareholders of Gulshan Sugars & Chemicals Ltd as 6:1 i.e. One (Rupees 5/- fully paid up) equity share of Gulshan Polyols Ltd for Six (Rupees 8/- fully paid up) equity shares of Gulshan Sugars & Chemicals Ltd.

The Board of Gulshan Polyols Ltd have accepted and approved the above entitlement ratio subject to the approval of shareholders, Stock Exchange, High Court and compliance of other regulatory and applicable provisions etc.

Product manufactured by the company include:

The Company is engaged in manufacturing of â€˜Sorbitol-70%â€™. Sorbitol, a starch derivative, sweet in taste, finds wide range application, the major uses in dentrifice, cosmetic, Pharma, Vitamin-C, food products etc.

Achievements/ recognition:

GPL has an accreditation as ISO 9001:2000 certification.

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
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Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
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Gulshan Polyols Ltd (GULPOLY) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Gulshan Polyols Share Price