Gulshan Polyols Limited

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ite: www.gulshanindia.com To, BSE Limited Department of Corporate Service, Floor 25, P. J. Towers, Dalal Street, Mumbai Maharashtra- 400 001 National Stock Exchange of India Limited Listing Depar

5.04%

Total Comprehensive Income Basic/Diluted EPS (₹) 1390 1320 70 1187 1092 95 1103 951 152 5.04% 8.00% 13.78% 32 10 28 10 18 29 6 60 15 45 32 5 115 30 85 1.29% 3.79% 7.71% 1

8.00%

Comprehensive Income Basic/Diluted EPS (₹) 1390 1320 70 1187 1092 95 1103 951 152 5.04% 8.00% 13.78% 32 10 28 10 18 29 6 60 15 45 32 5 115 30 85 1.29% 3.79% 7.71% 1 19 2.8

13.78%

ensive Income Basic/Diluted EPS (₹) 1390 1320 70 1187 1092 95 1103 951 152 5.04% 8.00% 13.78% 32 10 28 10 18 29 6 60 15 45 32 5 115 30 85 1.29% 3.79% 7.71% 1 19 2.85 - 45

1.29%

5 1103 951 152 5.04% 8.00% 13.78% 32 10 28 10 18 29 6 60 15 45 32 5 115 30 85 1.29% 3.79% 7.71% 1 19 2.85 - 45 7.24 0 85 16.40 www.gulshanindia.com • 8 FINANCIAL SNAPSHOT

3.79%

951 152 5.04% 8.00% 13.78% 32 10 28 10 18 29 6 60 15 45 32 5 115 30 85 1.29% 3.79% 7.71% 1 19 2.85 - 45 7.24 0 85 16.40 www.gulshanindia.com • 8 FINANCIAL SNAPSHOT TOTAL

7.71%

152 5.04% 8.00% 13.78% 32 10 28 10 18 29 6 60 15 45 32 5 115 30 85 1.29% 3.79% 7.71% 1 19 2.85 - 45 7.24 0 85 16.40 www.gulshanindia.com • 8 FINANCIAL SNAPSHOT TOTAL INCOME

24 MT

29 18 13 Mineral Processing Division EARNINGS PER SHARE (₹) 16.4 7.24 2.85 FY22 FY23 FY24 MT: metric tonnes; EBITDA: Earnings Before Interest Taxes Depreciation and Amortisation; PAT: Profit

18.7%

ONS (₹ crore) 0.5 61 66 0.3 0.2 16 FY22 FY23 FY24 FY22 FY23 FY24 RETURN ON EQUITY % 18.7% 8.2% 3.0% FY22 FY23 FY24 D/E: Debt to Total Equity RETURN ON CAPITAL EMPLOYED % 14% 7% 3%

8.2%

crore) 0.5 61 66 0.3 0.2 16 FY22 FY23 FY24 FY22 FY23 FY24 RETURN ON EQUITY % 18.7% 8.2% 3.0% FY22 FY23 FY24 D/E: Debt to Total Equity RETURN ON CAPITAL EMPLOYED % 14% 7% 3% FY22

3.0%

) 0.5 61 66 0.3 0.2 16 FY22 FY23 FY24 FY22 FY23 FY24 RETURN ON EQUITY % 18.7% 8.2% 3.0% FY22 FY23 FY24 D/E: Debt to Total Equity RETURN ON CAPITAL EMPLOYED % 14% 7% 3% FY22 FY23

14%

Y % 18.7% 8.2% 3.0% FY22 FY23 FY24 D/E: Debt to Total Equity RETURN ON CAPITAL EMPLOYED % 14% 7% 3% FY22 FY23 FY24 www.gulshanindia.com • 10 QUARTERLY PROFIT & LOSS STATEMENT Particular

“Sequentially, revenue rose by 38.43% QoQ from ₹44,047.46 lakhs in Q2 FY25, highlighting strong sales momentum.”

“The EBITDA margin improved to 4.51%, compared to 3.72% in Q3 FY24 and 3.96% in Q2 FY25.”

“More notably, PBT saw a 372.50% jump QoQ from ₹192.56 lakhs in Q2 FY25, driven by cost optimizations and higher volumes.”

“QoQ, PAT surged 289.05% from ₹172.86 lakhs in Q2 FY25.”

“ EPS Growth: Diluted EPS for Q3 FY25 stood at ₹1.09, up from ₹0.74 in Q3 FY24, showcasing improved shareholder returns.”

“existing site at Focus: Ethanol Expected topline: ₹ 1,400 crore EXPECTED TOTAL REVENUE FY 2025-26 ₹ 2,500 CRORES Mineral Processing Growth in on-site PCC and calcium carbonate business will be driven by the modernisation drive for paper mills.”

“Segment wise industrial growth opportunities are as follows: cosmetics, care products toothpaste, personal Grain Processing The India sorbitol market is a very dynamic market and is expected to witness steady growth over the forecast period.”

Financial Performance overview

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What we produce

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Import Substitution

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Sustainable Consumption

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Linked to farmers

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Employment Opportunities

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Policy Advancement

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Logistical Support

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School Facility Upgrades

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Learning Support

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Financial Performance overview

 Revenue Growth: The company reported a 64.32% YoY increase in revenue, reaching ₹60,976.45 lakhs compared to ₹37,108.17 lakhs in Q3 FY24. Sequentially, revenue rose by 38.43% QoQ from ₹44,047.46 lakhs in Q2 FY25, highlighting strong sales momentum.  EBITDA Surge: EBITDA nearly doubled YoY, growing 99.06% to ₹2,749.04 lakhs from ₹1,380.99 lakhs in Q3FY24, reflecting operational efficiencies and cost control. The EBITDA margin improved to 4.51%, compared to 3.72% in Q3 FY24 and 3.96% in Q2 FY25.  PBT and Margin Recovery: Profit before tax (PBT) increased 13.54% YoY, reaching ₹909.83 lakhs from ₹801.36 lakhs in Q3 FY24. More notably, PBT saw a 372.50% jump QoQ from ₹192.56 lakhs in Q2 FY25, driven by cost optimizations and higher volumes.  NET PAT Expansion: Net PAT increased 53.19% YoY, reaching ₹672.52 lakhs compared to ₹439.02 lakhs in Q3FY24. QoQ, PAT surged 289.05% from ₹172.86 lakhs in Q2 FY25. Despite higher profitability, PAT margin stood at 1.10% in Q3FY25, slightly lower th

What we produce

Starch & Starch Derivatives Products Competitive edge Top Clients Close proximity of raw material production belt ensures timely and cost-efficient supply Maize • Maize Starch Powder • Sorbitol 70% solution • Liquid Glucose • Animal Feed Close proximity of paper mills from plant ensures demand for our products Captive power plants at all units for uninterrupted power supply Rice • Dextrose Monohydrate • Malto Dextrin Powder • Glucose Powder • Rice Gluten • Rice Syrup Applications • Oral Care • Textile Industry • Paper & Packaging • Adhesive Industry Industry • Pharmaceutical • Food Industry Industry Investor Presentation February, 2025 www.gulshanindia.com • 21 Grain processing Overview BUSINESS SEGMENT INPUT OUTPUT END USE INDUSTRIES GRAIN PROCESSING CORN / MAIZE RICE •Maize Starch Powder •Animal Feed •Sorbitol 70% solution •Liquid Glucose •Dextrose Monohydrate •Malto Dextrin Powder •Glucose Powder •Rice Gluten •Rice Syrup The company supplies to leading manufacturers of :- Oral Care,

Policy Advancement

New policies would encourage the use of 100% ethanol-efficient vehicles creating huge demand for ethanol in the future

Logistical Support

Government is setting up pumps to support supply from ethanol manufacturers Investor Presentation February, 2025 25 Very supportive policies favouring investment governement Recent interventions by both the Central Government and the State Government reflect a gradual shift towards sustainable blending of ethanol which augurs well for the industry. Presently, 14 states allow unrestricted interstate movement of ethanol in India with more states undergoing positive policy changes. Ethanol prices delinked from crude or petrol prices ₹ Differential and attractive prices for ethanol produced from damaged/surplus food grains, broken rice and maize A lower GST of 5% on ethanol from 18% Government Support Interest subvention scheme for molasses and grain-based distilleries (DFPD) Setting of standards for E5 (Ethanol 5%, Petrol 95%), E10 and E20 blends of ethanol blended petrol, as well as introducing E100 two-wheeler vehicles BS-VI Emission norms effectively applicable for E-20 Vehicles Invest

School Facility Upgrades

• • • Construction/repair of buildings, including boundary walls and separate toilets for boys and girls. Provision of essential furniture: desks, chairs, blackboards, sound systems, etc. Development of playgrounds with new swings and sporting equipment.

Learning Support

• • Supply of uniforms, books, stationery, and laboratory equipment. Promoting computer literacy and technology‐assisted learning. Safe Drinking Water: Installation of RO water systems in schools. Educational Support: Financial aid and infrastructure assistance to promote technical, professional, and medical education. These initiatives reflect Gulshan's ongoing commitment to uplifting rural communities and fostering sustainable development. • • • • Investor Presentation February, 2025 33 Awards & certifications Investor Presentation February, 2025 34 THANK YOU For further information on the Company, please visit www.gulshanindia.com Rajiv Gupta Gulshan Polyols Limited Contact: +911149999200