Gulshan Polyols Limited announced its Audited Financial Results for the quarter and financial year ended 31st March, 2024.
Commenting on the financial results, Dr. Chandra Kumar Jain, Chairman & Managing Director, said, “As a leading speciality chemical and ethanol manufacturer, our strategic focus continues to revolve around the expansion in both domestic and global markets. We are confident in our ability to evolve as a strong and credible global supplier, further solidifying our position as a leader in the industry. Through our proactive approach, incorporating sustainability, and strategic measures for process improvement, we have adeptly navigated challenges and maintained consistent growth. Our established capabilities have played a key role in achieving this success, underscoring our unwavering commitment to excellence in the industry.”
Financial Results updates:
The Revenue from Operations increased by 34.51% from ₹ 30,153.74 lakhs in Q4 FY23 to ₹40,559.14 lakhs in Q4 FY24. The revenue growth was led by production of grain ethanol from its Chhindwara plant in Madhya Pradesh.
The Revenue from operations stood at ₹ 1,37,797.58 lakhs for the financial ended March 31, 2024.
EBITDA decreased by (28.97%) from ₹2,888.38 lakh in Q4 FY23 to ₹2051.67 lakhs in Q4 FY24 and margins from 9.58% to 5.06% owing to elevated raw material prices.
PAT stood at ₹636.77 lakhs in Q4 FY24, compared to ₹1455.00 lakhs in Q4 FY23 recording a decline of 56.24% due to high raw material prices, which is mainly because of elevated demand of raw material/ Grain across country.
Commenting on the performance of Q4 FY24, the management team of the Company said, “We are happy to share with you our financial and business performance for Q4 FY24 and H2 FY24, Revenue from operations stood at ₹40,559.14 lakh in Q4 FY24 from ₹30,153.74 lakh in Q4 FY23. Further, On the ESG front, we continue to transform lives of the community around us and are consistently focused on sustainability in all our operational and growth planning.”
