Gulshan Polyols Limited has secured a contract valued at approximately Rs. 993 crore (Rs. 993,94,31,620) to supply 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 issued by OMCs under the EBPP for the Ethanol Supply Year (ESY) 2024-25 at various locations throughout the country.
Following the announcement of the ethanol supply contract, shares of Gulshan Polyols surged, rising over 15% today, with the stock currently trading at 227.70, reflecting a 14.69% increase.
Oil marketing companies (OMCs) have allocated around 837 crore liters of ethanol from 970 crore liters of offers submitted by manufacturers nationwide for Ethanol Supply Year (ESY) 2024-25 – Cycle 1. The OMCs had invited tenders for the supply of 916 crore liters of ethanol for the same period.
Gulshan Polyols is recognized as a leading manufacturer in India of ethanol/bio-fuel, as well as grain and mineral-based specialty products. Its business operations are categorized into three main segments: grain processing, bio-fuel/distillery, and mineral processing.
