The Board of Directors of Gulshan Polyols Limited has approved a proposal to raise funds of 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.
The company also released its unaudited financial results for the quarter ending June 30, 2024. Revenue from operations grew by 54.89%, increasing from ₹29,347.25 lakhs in Q1 FY24 to ₹45,455.64 lakhs in Q1 FY25. The significant growth is attributed to the Ethanol Plant in Boregaon, Dist. Chhindwara, Madhya Pradesh. EBITDA rose from ₹1,560.52 lakhs in Q1 FY24 to ₹2,570.55 lakhs in Q1 FY25.
Dr. Chandra Kumar Jain, Chairman & Managing Director, commented on the unaudited financial results: “As a leading specialty chemical and ethanol manufacturer, our strategic focus remains on expanding both domestic and global markets. We are confident in our ability to grow as a robust and reliable global supplier, reinforcing our industry leadership. Our proactive approach, commitment to sustainability, and strategic process improvements have allowed us to navigate challenges effectively and sustain growth. Our established capabilities are crucial to our success, highlighting our dedication to industry excellence.”
Gulshan Polyols is a leading Indian manufacturer of ethanol/bio-fuel, grain, and mineral-based specialty products. Its business operations are divided into three main segments: grain processing, bio-fuel/distillery, and mineral processing.
To read more about Biomass Industry News, continue reading BioEnergyTimes.com
