Board of Directors of the Gulshan Polyols Limited approved the proposal of raising of funds up to Rs. 250 crores.
It approved the proposal for raising of funds for an amount of up to Rs. 250 crores through Qualified Institutions Placement (QIP) or by way of one or more private offering(s) or any equivalent capital raising methods permitted by applicable laws or any combination thereof to by eligible investors, subject to such requisite approvals including the approval of the shareholders and further subject to such other statutory/regulatory approvals, as applicable.
Company also announced its unaudited financial results for the quarter ended 30th June, 2024.
The revenue from operations increased by 54.89% from ₹29,347.25 lakhs in Q1 FY24 to ₹45,455.64 lakhs in Q1 FY25. The main contributor to growth is the Ethanol Plant at Boregaon Distt. Chhindwara, Madhya Pradesh. EBITDA increased from ₹1560.52 lakhs in Q1 FY24 to ₹2570.55 lakhs in Q1 FY25.
Commenting on the Unaudited 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.”
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.”
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