Gulshan Polyols (GPL), a key player in the chemical industry, has announced a significant development in its business operations. The company has been awarded a substantial contract for the supply of ethanol under the Ethanol Blending Petrol Programme (EBPP), marking a notable achievement in its participation in India's renewable energy initiatives.

Contract Details

Gulshan Polyols has secured an allocation to supply 55,476 kiloliters of ethanol to Oil Marketing Companies (OMCs) for the Ethanol Supply Year 2024-25 (ESY 24-25). The estimated value of this order stands at ₹3.63 billion (₹3,62,85,12,220 to be precise), highlighting the scale and importance of this contract for the company.

Tender Participation and Allocation

The company participated in a tender floated by various Oil Marketing Companies, including:

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

The tender references were:

• No. 1000423858 (C1), (E Tender No. 17893)
• Tender Ref. No. 1000423858 (C3), (E Tender No. 18795)

Contract Execution and Timeline

The ethanol supply contract is set to be executed during the Ethanol Supply Year 2024-25. This timeline aligns with India's ongoing efforts to increase the blending of ethanol in petrol, aiming to reduce the country's dependence on fossil fuels and promote cleaner energy alternatives.

Implications for Gulshan Polyols

This allocation represents a significant business opportunity for Gulshan Polyols Limited. The substantial order value is likely to have a positive impact on the company's revenue streams for the upcoming fiscal year. Moreover, it positions GPL as a key contributor to India's ethanol blending program, potentially opening doors for future contracts and partnerships in the renewable energy sector.

Regulatory Compliance

In compliance with regulatory requirements, Gulshan Polyols has duly informed the stock exchanges about this material development. The disclosure was made in accordance with:

• Regulation 30 and Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
• SEBI Circular dated July 13, 2023

Market Impact

While the immediate market reaction to this news remains to be seen, the securing of such a significant contract is generally viewed positively by investors. It demonstrates the company's capability to compete and win large government contracts, which could be a factor in assessing its future growth prospects.

This development underscores Gulshan Polyols' role in India's push towards greener fuel alternatives and highlights the growing importance of ethanol in the country's energy mix. As the government continues to emphasize the Ethanol Blending Petrol Programme, companies like Gulshan Polyols are poised to play a crucial role in achieving national energy goals.

Gulshan Polyols Limited , a key player in the chemical industry, has announced a significant development in its business operations. The company has been awarded a substantial contract for ethanol supply under the Ethanol Blending Petrol Programme (EBPP), marking a notable achievement in its contribution to India's renewable energy initiatives.

Contract Details

Gulshan Polyols has secured an allocation of 55,476 kiloliters of ethanol for the Ethanol Supply Year (ESY) 2024-25. This allocation comes as part of a tender floated by Oil Marketing Companies (OMCs) under the EBPP. The estimated value of this order stands at an impressive ₹362.85 crore, highlighting the scale and importance of this contract for the company.

Key Points of the Allocation

• Awarding Entities: The contract has been awarded by multiple domestic Oil Marketing Companies, including Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), and Mangalore Refinery and Petrochemicals Limited (MRPL).
• Contract Nature: The allocation is for the supply of ethanol at various OMC locations across the country.
• Execution Period: The contract is to be executed during the Ethanol Supply Year 2024-25.

Implications for Gulshan Polyols

This substantial ethanol supply contract represents a significant business opportunity for Gulshan Polyols. It not only demonstrates the company's capability to meet large-scale ethanol demand but also positions it as a key contributor to India's ethanol blending program. The contract's value of ₹362.85 crore is likely to have a positive impact on the company's revenue stream for the upcoming fiscal year.

Ethanol Blending Petrol Programme (EBPP)

The EBPP is a crucial initiative by the Indian government aimed at reducing the country's dependence on fossil fuels and promoting the use of renewable energy sources. By participating in this program, Gulshan Polyols is aligning itself with national energy goals and contributing to the reduction of carbon emissions in the transportation sector.

Disclosure and Compliance

In compliance with regulatory requirements, Gulshan Polyols has duly informed the stock exchanges about this development. The company's disclosure adheres to the Securities and Exchange Board of India (SEBI) guidelines, ensuring transparency for investors and stakeholders.

This ethanol supply contract marks a significant milestone for Gulshan Polyols, potentially strengthening its position in the renewable energy sector and contributing to its growth trajectory in the coming year.