Gulshan Polyols Limited has been awarded a contract worth approximately Rs. 993 crore (Rs. 993,94,31,620) for supplying 142,222 kiloliters of ethanol to oil marketing companies (OMCs)—Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), and Hindustan Petroleum Corporation Limited (HPCL).
The company participated in a tender floated by OMCs under EBPP for the Ethanol Supply Year (ESY) 2024-25 at various locations across the country.
Shares of Gulshan Polyols soared following the ethanol supply contract. Today, Gulshan Polyols rose more than 15 per cent, and it is currently trading at 227.70 (14.69 percent higher).
OMCs have allocated around 837 crore liters of ethanol against 970 crore liters of offers submitted by manufacturers across the country for Ethanol Supply Year (ESY) 2024-25 – Cycle 1. OMCs had invited tenders for the supply of 916 crore liters of ethanol for ESY 2024-25.
Gulshan Polyols is India’s leading manufacturer of ethanol/bio-fuel, grain, and mineral-based specialty products. Its business portfolio broadly spans three main segments: grain processing, bio-fuel/distillery, and mineral processing operations.
