Gulshan Polyols Lt
- Company typePublic
- Founded2000
- HeadquartersMuzaffarnagar, India
- Headcount251–500
- GTM typeB2B
- OfferingHardware or Manufacturing
Gulshan Polyols Lt firmographics
Firmographics- Name
- Gulshan Polyols Lt
- Legal name
- Gulshan Polyols Limited
- Website
- https://gulshanindia.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Gulshan Polyols Lt industry classification
Industry- Product category
- Specialty Chemicals Manufacturing
- NAICS
- Ethyl Alcohol Manufacturing (325193), Wet Corn Milling and Starch Manufacturing (311221), Starch and Vegetable Fats and Oils Manufacturing (31122)
- SIC
- Industrial Organic Chemicals (2860), Miscellaneous Chemical Products (2890)
- akta.pro primary industry
- Biofuel Co-products & Byproduct Processing (DDGS, Glycerin, CO2, Lignin) (EUAAAHAJ)
- akta.pro secondary industry
- Biochemicals & Bio-based Platform Chemicals (cellulose sugars, lignin derivatives, organic acids) (IMAMALAB)
Keywords
Where Gulshan Polyols Lt is headquartered
LocationHeadquarters
- HQ city
- Muzaffarnagar
- HQ country
- India
- HQ region
- Asia
Offices11 records
Markets served
Gulshan Polyols Lt business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Ethanol / Bio-fuel and Distillery: Production and supply of ethanol (bio-fuel) to Oil Marketing Companies (BPCL, IOCL, HPCL, MRPL) under the Government of India's Ethanol Blending Push Programme (EBPP). Also produces Extra Neutral Alcohol (ENA) and country liquor for government supply contracts. This is the largest revenue segment, contributing approximately 71% of total revenue.
- Grain Processing: Processing of corn and rice to produce starch and starch derivatives including sorbitol 70% solution, dextrose monohydrate, maltodextrin powder, liquid glucose, brown rice syrup, rice syrup solid, native starch, DDGS, corn gluten feed, corn germ, enriched fiber, rice gluten, and corn steep liquor. Contributes approximately 22% of total revenue.
- Mineral Processing: Mining and processing of limestone to produce calcium carbonate products including Ground Natural Calcium Carbonate (GNCC), Calcium Carbonate Pigment Grade (CCPG), Wet Ground Calcium Carbonate (WGCC), and Precipitated Calcium Carbonate (PCC). Contributes approximately 6% of total revenue.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Gulshan Polyols Lt product offering
Product offeringCore offering
Gulshan Polyols manufactures specialty chemicals across three segments: ethanol/bio-fuel supplied to oil marketing companies under India's Ethanol Blending Push Programme, starch derivatives (sorbitol, dextrose monohydrate, maltodextrin, liquid glucose, native starch) from corn and rice processing for food/pharma industries, and calcium carbonate products (PCC, WGCC, GNCC, GCC) for paper, polymer, and coatings manufacturers. The company also installs on-site/satellite PCC plants at customer paper mill facilities.
Product overview
Gulshan Polyols Ltd operates as a specialty chemicals manufacturer with a diversified portfolio spanning three main segments: Ethanol/Bio-fuel, Grain Processing, and Mineral Processing. The Ethanol/Bio-fuel segment supplies ethanol to oil marketing companies (BPCL, IOCL, HPCL, MRPL) under India's Ethanol Blending Push Programme, along with Extra Neutral Alcohol and country liquor. The Grain Processing division produces starch derivatives including Sorbitol 70% Solution, Dextrose Monohydrate, Malto Dextrin Powder, Liquid Glucose, Brown Rice Syrup, Rice Syrup Solid, Native Starch Powder, and Organic Sweeteners, alongside animal nutrition products (DDGS, Corn Gluten Feed, Corn Germ, Corn Steep Liquor). The Mineral Processing division manufactures various grades of Calcium Carbonate (WGCC, GNCC, GCC) for paper, plastics, paints and coatings industries, and provides onsite/satellite PCC plant services. The company operates nine manufacturing facilities across India including Muzaffarnagar (UP), Dhaula Kuan (HP), Abu Road (Rajasthan), Borgaon (MP), Goalpara (Assam), and Jhagadia (Gujarat), plus four onsite PCC plants serving paper mills.
Differentiator
Problem solved
Functional benefit
Products and services
- Ethanol/Bio-fuel Grain-based ethanol supplied to Oil Marketing Companies (BPCL, IOCL, HPCL, MRPL) under the Government of India's Ethanol Blending Push Programme for fuel blending applications.
- Sorbitol 70% Solution Sugar alcohol used as a humectant and sweetener in food, pharmaceutical, and personal care applications, produced from corn wet milling at the Gujarat facility.
- Dextrose Monohydrate (DMH) Form of glucose used in food, pharmaceutical, and industrial applications, produced through corn processing.
- Malto Dextrin Powder (MDP) Easily digestible carbohydrate used as a thickener, filler, or carrier in food applications, produced from corn starch.
- Liquid Glucose Syrup form of glucose used in confectionery, baking, brewing, and pharmaceutical applications.
- Native Starch Powder Starch derived from corn/maize for paper, textile, and food industries.
- Calcium Carbonate (WGCC, GNCC, GCC) Precipitated and ground calcium carbonate products including Wet Ground Calcium Carbonate (WGCC), Ground Natural Calcium Carbonate (GNCC), and Ground Calcium Carbonate (GCC) in coated and uncoated grades for paper, plastics, paints, and coatings industries.
- Onsite/Satellite PCC Plant On-site Precipitated Calcium Carbonate plants installed at customer paper mill facilities for captive consumption, including sites at ITC Hooghly, Orient Paper Mills, and Silvertone.
- Country Liquor Government-allocated country liquor supplied to state governments including Madhya Pradesh for fiscal year 2026-27.
- Extra Neutral Alcohol (ENA) High-purity alcohol for industrial and beverage applications, produced from grain-based fermentation processes.
- Corn/Maize Gluten Feed Animal feed product derived from corn processing for livestock nutrition.
- DDGS (Distillers Dried Grains with Solubles) Animal feed supplement produced as a byproduct of ethanol production.
- Brown Rice Syrup Natural sweetener derived from brown rice for food applications.
- Rice Syrup Solid Dried rice syrup used as a sweetener and binding agent in food products.
- Corn Germ Germ extracted from corn processing, used in animal feed applications.
- Corn Steep Liquor Byproduct of corn wet milling used in animal feed and fermentation applications.
- Organic Sweetener Organic-certified sweetener products for food and beverage applications.
Quantifiable outcome
- Net profit surged 434.76% in Q4 FY2025-26 to Rs 37.54 crore vs Rs 7.02 crore in the same period the previous year
- +3 more outcomes
Companies that use Gulshan Polyols Lt
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
Gulshan Polyols Lt technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Gulshan Polyols Lt partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Gulshan Polyols identified in High Fiber Feed Market ReportminorGulshan Polyols Ltd was identified as a key industry player in the Global High Fiber Feed Market alongside companies including Cargill, ADM, Bunge Limited, Wilmar International, Nutreco, and others. The Asia Pacific region held dominant market share at 38.7% in this market.
- BPCL (Bharat Petroleum Corporation Ltd)coreBPCL is one of the Oil Marketing Companies to which Gulshan Polyols supplies ethanol under the Government of India's Ethanol Blending Push Programme (EBPP). In ESY 2025-26, the company was awarded a contract to supply ethanol to BPCL and other OMCs totaling 175,652 kiloliters, valued at approximately Rs 1,184.86 crore.
- IOCL (Indian Oil Corporation Ltd)coreIOCL is a major Oil Marketing Company receiving ethanol supplies from Gulshan Polyols under the EBPP. The company participates in OMC tender allocations coordinated by major oil companies on behalf of all PSU OMCs for ethanol supply.
- HPCL (Hindustan Petroleum Corporation Ltd)coreHPCL is an Oil Marketing Company receiving ethanol supplies from Gulshan Polyols under government-mandated ethanol blending allocations.
- MRPL (Mangalore Refinery & Petrochemicals Ltd)minorMRPL, a subsidiary of ONGC and a PSU refiner/marketer, is included in the OMC ethanol supply allocation awarded to Gulshan Polyols for ESY 2025-26.
Scale indicators11 records
Recent moves7 records
Expansion highlights5 records
Gulshan Polyols Lt competitors and assessment
Company assessmentDirect peers
- Shree Renuka Sugars: Large Indian sugar and ethanol producer with significant OMC ethanol supply volumes. Comparable ethanol capacity expansion story and competes with Gulshan for tendered ethanol off-take.
- Dalmia Bharat Sugar & Industries: Integrated sugar and ethanol manufacturer supplying OMCs under India's ethanol blending programme. Competes with Gulshan for government ethanol allocations and shares the same regulatory demand driver.
- Balrampur Chini Mills: One of India's largest sugar-to-ethanol integrated producers, supplying ethanol to OMCs under the same EBPP programme as Gulshan. Operates comparable distillery capacity and starch/sugar by-product streams, making it a direct competitor for OMC ethanol off-take.
- Triveni Engineering & Industries: Sugar, ethanol and cogeneration producer with significant OMC ethanol supply contracts. Direct competitor in grain/molasses-based ethanol bidding and shares EBPP demand exposure with Gulshan.
- EID Parry (India): Murugappa Group's sugar-to-ethanol and specialty chemicals arm. Competes for OMC ethanol tenders and operates similar distillery infrastructure, providing a like-for-like comparison for Indian ethanol producers.
- BCL Industries: Indian grain-based ethanol and malt manufacturer with comparable product portfolio across ethanol, DDGS, and malt extracts. Closest Indian peer in grain-based (rather than molasses-based) ethanol and specialty ingredients.
Emerging players
- Som Distilleries & Breweries: Indian alcoholic beverages manufacturer using grain/ENA. Overlaps with Gulshan's country liquor and ENA segment and is a competitor for state liquor allocations and IMFL volumes.
Broad incumbents
- Roquette Frères: Global leader in starch, polyols (sorbitol), and bio-based ingredients. Direct competitor to Gulshan's grain processing division in sorbitol, dextrose and maltodextrin, particularly in India and export markets.
- Ingredion Incorporated: Global ingredient solutions company producing starch, sweeteners and biomaterials. Overlaps with Gulshan's sorbitol, dextrose, maltodextrin and rice syrup products, and competes for international food/pharma customers.
- Cargill: Diversified global agribusiness with significant starch, sweetener and ethanol operations. Identified alongside Gulshan in the High Fiber Feed Market Report and competes across corn-derived specialty ingredients.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Gulshan Polyols Lt social profiles
Digital presenceGulshan Polyols Lt financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gulshan Polyols Lt leadership team
Management profileNumber of profiles
Profiles7 records
Gulshan Polyols Lt subsidiaries and ownership
Company hierarchySubsidiaries1 record
Gulshan Polyols Lt funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gulshan Polyols Lt M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gulshan Polyols Lt
What does Gulshan Polyols Lt do?
Gulshan Polyols manufactures specialty chemicals across three segments: ethanol/bio-fuel supplied to oil marketing companies under India's Ethanol Blending Push Programme, starch derivatives (sorbitol, dextrose monohydrate, maltodextrin, liquid glucose, native starch) from corn and rice processing for food/pharma industries, and calcium carbonate products (PCC, WGCC, GNCC, GCC) for paper, polymer, and coatings manufacturers. The company also installs on-site/satellite PCC plants at customer paper mill facilities.
Is Gulshan Polyols Lt a public or private company?
Gulshan Polyols Lt is a public company. It is classified as public and is currently operating.
When was Gulshan Polyols Lt founded?
Gulshan Polyols Lt was founded in 2000. It employs 251 to 500 people.
Where is Gulshan Polyols Lt based?
Gulshan Polyols Lt is headquartered in Muzaffarnagar, India, in the Asia region.
How does Gulshan Polyols Lt make money?
Three revenue lines are on record. Ethanol / Bio-fuel and Distillery is the primary driver. The others are grain Processing and mineral Processing.
Who are Gulshan Polyols Lt's main competitors?
Direct peers on record are Shree Renuka Sugars, Dalmia Bharat Sugar & Industries, Balrampur Chini Mills, Triveni Engineering & Industries, EID Parry (India) and BCL Industries. Som Distilleries & Breweries is listed as an emerging player. Broad incumbents are Roquette Frères, Ingredion Incorporated and Cargill.
Does Gulshan Polyols Lt have an API?
No public API is recorded for Gulshan Polyols Lt.
What industry is Gulshan Polyols Lt in?
Gulshan Polyols Lt's product category is Specialty Chemicals Manufacturing. Its primary akta.pro industry code is EUAAAHAJ, Biofuel Co-products & Byproduct Processing (DDGS, Glycerin, CO2, Lignin), with a secondary code of IMAMALAB, Biochemicals & Bio-based Platform Chemicals (cellulose sugars, lignin derivatives, organic acids). Its NAICS code is 325193 and its SIC code is 2860.