Gulshan Polyols Gets Rs 572 Crore Order For Supplying Ethanol To BPCL, HPCL

Gulshan Polyols Ltd. has been awarded a contract worth Rs 572 crore for supplying 89,404 kiloliters of ethanol to Bharat Petroleum Corp. and Hindustan Petroleum Corp.

The company will supply the ethanol from its Boregaon plant to the oil marketing companies till Oct. 31, 2024, according to an exchange filing issued on Monday.

The order value is more than one third of the company's market cap, which stood at Rs 1,388.37 crore as of Dec. 4.

Shares of Gulshan Polyols closed 8.14% higher at Rs 222.60 apiece on the BSE on Monday, as compared with a 2.05% rise in the benchmark Sensex.