Date: August 18, 2026

General Company Information

Corporate Details:

  • Corporate Identity Number (CIN): L24231UP2000PLC034918
  • Year of incorporation: 2000
  • Corporate office: G-81, Preet Vihar, Delhi-110092, India
  • Reporting period: FY 2025-26 (April 01, 2025 to March 31, 2026)
  • Listed on: National Stock Exchange of India Limited (NSE), BSE Limited (BSE)
  • Paid-up Capital: ₹6,23,70,586
  • Reporting basis: Standalone (Gulshan Polyols Limited only)

Contact Persons:

  • Ms. Arushi Jain (DIN: 00764520), Joint Managing Director
  • Ms. Aditi Pasari (DIN: 00120753), Joint Managing Director

Business Operations

Business Activities:

  • Manufacturing: Ethanol, Country Liquor, Sorbitol, Fructose and Animal feed (100% of turnover)

Product-wise Turnover Contribution:

  • Sorbitol: 14.71%
  • Fructose & Sweetener: 4.51%
  • Ethanol: 59.13%
  • Liquor / Country Liquor: 3.86%
  • Starch: 3.13%
  • By Products: 11.10%

Operational Presence:

  • National locations: 11 (9 plants + 2 offices)
  • International locations: NIL
  • Markets served: 7 Indian states, 40+ countries
  • Export contribution: 5.049% of total turnover

Customer Industries:

Dentific, Personal Care, Food, Paper, Pharma, Footwear, Plastics, Printing, Paint, Oil marketing companies (OMC), Animal feed industry, Rubber, Automobile

Employee Statistics

Workforce Composition (FY 2025-26):

  • Permanent Employees: 368 (Male: 341, Female: 27)
  • Other than Permanent Employees: 0
  • Permanent Workers: 209 (100% Male)
  • Other than Permanent Workers: 756 (100% Male)
  • Total Workforce: 1,333
  • Differently abled employees/workers: Nil

Gender Representation:

  • Board of Directors: 10 total, 4 females (40%)
  • Key Management Personnel: 2 total, 1 female (50%)

Turnover Rates (FY 2025-26):

  • Permanent Employees: 2.50% (Male: 2.28%, Female: 0.21%)
  • Permanent Workers: 5.70% (100% Male)

Subsidiary Information

During the year, the Company closed its foreign subsidiary, Gulshan Overseas – FZCO, incorporated in Dubai, UAE. The operations were discontinued and the entity was legally dissolved on October 17, 2025.

CSR Applicability

  • CSR applicable as per section 135 of Companies Act, 2013: Yes
  • Turnover: ₹23,12,42,17,684
  • Net worth: ₹8,88,09,94,002

Grievance Redressal

Complaints Received (FY 2025-26):

  • Communities: 0
  • Investors (other than shareholders): 0
  • Shareholders: 1 (resolved)
  • Employees and workers: 0
  • Customers: 15 (resolved)
  • Value Chain Partners: 0
  • Other: 0

Grievance redressal mechanism available at: https://www.gulshanindia.com/contact-information-for-registrar.html

Material Responsibility Issues

Identified Material Issues:

1. Water & Effluent Management (Risk) - Industrial processes produce high COD wastewater risking factory shutdowns

2. Bio-Fuel & Ethanol Blending Policies (Opportunity) - Government mandates driving demand for grain-based green fuels

3. Decarbonization & Clean Energy Transition (Risk & Opportunity) - Energy intensive operations facing carbon penalties

4. Agricultural Supply Chain Volatility (Risk) - Dependence on grain inputs vulnerable to shortages and climate shocks

Governance Structure

Sustainability Oversight:

  • Highest authority: Board of Directors
  • Specified Committee: Sustainability & Corporate Social Responsibility Committee (SCSR)
  • Committee Members:
  • Ms. Archana Jain (Chairperson) - Non-Executive, Independent Director
  • Ms. Arushi Jain - Executive Director
  • Ms. Aditi Pasari - Executive Director

Policy Coverage:

  • All 9 NGRBC Principles covered by policies: Yes
  • Policies approved by Board: Yes
  • Policies extended to value chain partners: Yes
  • Policies available at: https://www.gulshanindia.com/policy.html

Financial Penalties

Monetary Penalties Incurred (FY 2025-26):

1. GST Department: ₹7,05,778 - HSN classification dispute

2. GST Department: ₹20,000 - ITC wrongly taken

3. Central Ground Water Authority: ₹4,00,000 - Non-installation/maintenance of water monitoring systems

4. Income Tax Department: ₹93,144 - Discrepancy in reported revenue

Total penalties: ₹5,19,922

Training and Awareness

Training Coverage (FY 2025-26):

  • Board of Directors: 4 programs (100% coverage)
  • Key Managerial Personnel: 4 programs (100% coverage)
  • Other Employees: 365 programs (99% coverage)
  • Workers: 965 programs (100% coverage)

Topics covered: POSH, Fire & Safety, Emergency Evacuation, Discipline and Work Culture

Performance Metrics

Financial Year Comparisons:

  • Accounts payable days: 36 days (FY 2025-26) vs 32 days (FY 2024-25)
  • Gross wages paid to females: 17.50% of total wages (FY 2025-26) vs 17% (FY 2024-25)

Environmental Data (FY 2025-26):

  • Total energy consumption: 15,14,27,429.76 J
  • Energy intensity per rupee of turnover: 0.0065
  • Water withdrawal: 34,05,008 kilolitres
  • Water consumption: 12,53,689 kilolitres
  • Water intensity per rupee of turnover: 5.42
  • GHG emissions (Scope 1): 26,574.29 metric tonnes CO2 equivalent
  • GHG emissions (Scope 2): 25,926.24 metric tonnes CO2 equivalent
  • Total waste generated: 52,358.66 metric tonnes

Safety Incidents

FY 2025-26 Safety Record:

  • Lost Time Injury Frequency Rate: 0 for employees and workers
  • Total recordable work-related injuries: 0 for employees, 0 for workers
  • Fatalities: 0 for employees, 1 for workers
  • High consequence injuries: 0 for employees and workers

CSR Activities

CSR Projects and Beneficiaries (FY 2025-26):

1. Promoting Education: 800 beneficiaries (100% vulnerable/marginalized)

2. Women Empowerment: 200 beneficiaries (100% vulnerable/marginalized)

3. Promoting HealthCare: 13,941 beneficiaries (100% vulnerable/marginalized)

4. Rural Development: 2,400 beneficiaries (100% vulnerable/marginalized)

5. Rural Sports: 50 beneficiaries (100% vulnerable/marginalized)

Aspirational District Spending:

  • Goalpara, Assam: ₹8,55,367.00