Gulshan Polyols Limited has secured a contract worth ₹362.85 crore to supply 2,713 kiloliters of ethanol to major public sector oil companies including Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), and Mangalore Refinery and Petrochemicals Limited (MRPL).
In an official exchange filing, the company stated that it had participated in a tender {(Tender Ref. No. 1000423858 (C1), (E Tender No. 17893 and Tender Ref. No. 1000423858 (C3), (E Tender No. 18795)} floated by Oil Marketing Companies under EBPP for Ethanol Supply Year (ESY 24-25) at their various locations across the country and the Company has been allocated with a quantity of 55476 Kiloliters of Ethanol having an estimated order value of Rs. 3,62,85,12,220/- for ESY 24-25.
The company is a leading Indian producer of ethanol and bio-fuels, with a diversified portfolio that also includes grain processing and mineral-based specialty products.
The contract aligns with India’s broader push to ramp up ethanol blending in petrol. Under the National Policy on Biofuels – 2018, revised in 2022, the country has set a goal of achieving 20% ethanol blending by 2025–26, advancing the original target from 2030. The oil marketing companies had already surpassed the 10% blending mark in June 2022 and reached 14.60% in the 2023–24 supply year.
India’s ethanol initiative is credited with strengthening the rural economy, raising farmer incomes, reducing dependence on imported crude oil, and supporting environmental sustainability. So far, the programme has contributed over Rs. 1.07 lakh crore to farmers and saved approximately Rs. 1.26 lakh crore in foreign exchange.
