Gulshan Polyols Limited has approved the re-appointment of Vardhman Doogar as a Non-Executive Independent Director for a second term of five consecutive years. The Board of Directors made the decision during its meeting held on August 06, 2026, based on the recommendation of the Nomination, Remuneration and Compensation Committee. The new term commences on October 01, 2026, and extends until September 30, 2031, subject to the approval of the company's members at the upcoming Annual General Meeting.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Mr. Doogar, holding DIN 07148980, will not be liable to retire by rotation during this term.

Appointment Details

Mr. Doogar brings over a decade of diversified experience in auditing, management consultancy, and merchant banking activities. His expertise includes handling statutory audits, tax audits, and conducting due diligence for foreign direct investment (FDI) and initial public offerings (IPOs). He also possesses experience in coordinating with legal managers, legal advisors, and merchant bankers.

The company confirmed that there are no relationships between directors requiring disclosure in this context. The detailed information regarding the re-appointment has been hosted on the company's website at www.gulshanindia.com for stakeholder reference.

Gulshan Polyols Limited reported a net profit of ₹53.50 crore for the quarter ended June 30, 2026 (Q1FY27), a sharp 305% increase from the ₹13.17 crore recorded in the same period last year. Revenue from operations grew 7.9% year-on-year to ₹639.87 crore, driven primarily by robust performance in its core ethanol business. The Board of Directors also approved a strategic proposal to raise funds amounting to up to ₹2,500 crore through Qualified Institutions Placement (QIP), private placements, or other permitted capital-raising methods, subject to shareholder and regulatory approvals.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board on August 06, 2026. M/s Shahid & Associates, the statutory auditors, issued an independent review report under Standard on Review Engagements (SRE) 2410, expressing an unmodified opinion on the interim financial information. The results comply with Indian Accounting Standard 34 (Ind AS 34) and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Performance Highlights

Total income for the quarter stood at ₹645.54 crore, compared to ₹595.15 crore in Q1FY26. Other income contributed ₹5.67 crore, reversing a loss of ₹0.69 crore in the preceding quarter. Total expenses increased to ₹572.15 crore from ₹575.25 crore in the prior year period, reflecting controlled cost management despite higher revenue volumes.

Tax expense for the quarter was ₹19.88 crore, comprising current tax of ₹17.15 crore and deferred tax of ₹2.74 crore. Earnings per share (basic and diluted) rose to ₹8.58 from ₹2.11 in the previous year.

Segment-Wise Analysis

The Ethanol (Bio-Fuel)/Distillery segment remained the primary growth engine, contributing ₹446.15 crore to revenue, up 10.7% year-on-year. This segment generated a pre-tax profit of ₹75.02 crore, significantly higher than the ₹26.35 crore reported in Q1FY26.

Grain Processing revenue grew 1.3% to ₹169.55 crore, with segment results turning positive at ₹3.96 crore compared to a loss of ₹4.30 crore in Q1FY26. Mineral Processing saw a modest revenue increase to ₹24.17 crore, maintaining stable profitability at ₹4.19 crore.

What the Numbers Show

The disproportionate rise in net profit relative to revenue growth highlights improved operational leverage. While revenue increased by nearly 8%, net profit surged over threefold, indicating that fixed costs were effectively spread over higher production volumes. The Ethanol segment’s contribution to total segment results rose to 93.7% from 94.2% in the prior year, reinforcing its dominance in the company’s earnings mix. The turnaround in the Grain Processing segment from a loss to a profit further contributed to the bottom-line expansion.

Strategic Initiatives and Governance

In addition to financial results, the Board approved the grant of 59,453 options under the GPL Employees Stock Option Scheme - 2018 to selective employees. These options will vest between June 01, 2029, and June 30, 2029, at an exercise price of ₹223.00 per share, based on the average buying cost from BSE/NSE markets. The proposed fund-raising initiative aims to strengthen the company’s balance sheet and support future growth projects, pending requisite approvals.