Gulshan Polyols Limited , a key player in the ethanol supply industry, has recently secured a significant contract under the Ethanol Blended Petrol Programme for the Ethanol Supply Year 2025-26. This development marks a substantial milestone for the company and underscores its growing importance in India's renewable energy sector.

Contract Details

The company has been allocated 175,652 kiloliters of ethanol for supply to major Oil Marketing Companies (OMCs). The contract, valued at approximately ₹1,185 crore, involves supplying ethanol to four major oil companies:

• Bharat Petroleum Corporation Limited (BPCL)
• Indian Oil Corporation Limited (IOCL)
• Hindustan Petroleum Corporation Limited (HPCL)
• Mangalore Refinery And Petrochemicals Limited (MRPL)

Tender Participation

Gulshan Polyols participated in tender number 1000423858 (C1), which was floated by the OMCs for ethanol supply at various locations across India. The company's success in securing this allocation demonstrates its competitive edge and capacity to meet the growing demand for ethanol in the country.

Contract Specifications

Additional Financial Update

In a separate development, Gulshan Polyols has also received a Production Linked Fiscal Assistance (PLFA) of ₹5.38 crore for the financial year 2023-24. This assistance, granted by MP Industrial Development Corporation Limited (MPIDC), is part of the MP Investment Promotion Assistance Scheme, 2014 – Suvidha / Sahayata.

Implications

The substantial ethanol supply contract and the additional fiscal assistance highlight Gulshan Polyols' strong position in the market and its alignment with India's push towards increased use of biofuels. This contract may contribute significantly to the company's revenue stream for the 2025-26 period, potentially impacting its financial performance positively.

As India continues to focus on reducing its dependence on fossil fuels and promoting cleaner energy alternatives, companies like Gulshan Polyols are poised to play a crucial role in the nation's energy transition strategy.

Gulshan Polyols Limited, a prominent player in the Indian chemical industry, has announced the appointment of two new non-executive directors to its board, effective October 1, 2025. The appointments, approved at the company's 25th Annual General Meeting held on September 18, 2025, are set to bring fresh perspectives and diverse expertise to the company's leadership.

New Appointments

Rahul Jain

• Appointed as Non-Executive Independent Director
• Two-year term ending September 30, 2027
• Fellow Member of the Institute of Cost Accountants of India
• Over 15 years of experience in cost and management accounting
• Founder of Rahul Jain & Associates (established 2011)
• Expertise in cost audit, management consultancy, taxation, and accounting
• Notable clients include ACC India Pvt. Ltd., Supertech Ltd., and Paras Lubricants Ltd.

Anubha Gupta

• Appointed as Non-Executive and Non-Independent Director
• Postgraduate Diploma in History of Art from Courtauld Institute of Art, University of London
• B.A. (Hons) in English Literature from Jesus and Mary College, University of Delhi
• Over a decade of entrepreneurial experience in various leadership roles

Expertise and Experience

Jain's appointment is expected to strengthen Gulshan Polyols' financial oversight and cost management strategies. His expertise in compliance and business advisory services aligns well with the company's governance needs.

Gupta brings a unique blend of artistic sensibility and business acumen to the board. Her experience in managing diverse investment interests, including hydropower projects, hospitality ventures, and strategic investments, is likely to contribute to Gulshan Polyols' strategic planning and business scaling efforts.

Family Ties and Corporate Governance

Anubha Gupta is a company promoter and daughter of Dr. Chandra Kumar Jain, who is also a promoter. This appointment highlights the continued involvement of the founding family in the company's leadership while also bringing in external expertise through Rahul Jain's independent directorship.

Other AGM Proceedings

The 25th Annual General Meeting also saw the approval of several important resolutions, including:

• Adoption of audited financial statements for the year ended March 31, 2025
• Declaration of a dividend of ₹0.30 per equity share
• Appointment of M/s. TVA & Co. LLP as the Secretarial Auditors for a five-year term
• Approval of remuneration frameworks for executive and non-executive directors

Looking Ahead

With these new appointments and the approval of key resolutions, Gulshan Polyols Limited appears to be positioning itself for continued growth and improved corporate governance. The diverse backgrounds of the new directors, combined with the experience of the existing board members, are expected to provide a well-rounded leadership approach as the company moves forward in the dynamic chemical industry landscape.