Multibagger chemical stock with 700% returns in three years to turn ex-bonus next week; check details

Shares of multibagger Gulshan Polyols Ltd will be in focus next week as they will turn ex-bonus on June 21. Gulshan Polyols has issued bonus shares in a ratio of 1:5 and ascertained 21 June also the record date for the bonus issue. The stock of chemical maker has zoomed 714% in three years and gained 352% in five years.  

In the current trading session, Gulshan Polyols stock ended 1.93% higher at Rs 279.75 against the previous close of Rs 274.45 on BSE. The stock has gaining after falling for two days. Gulshan Polyols stock opened lower at Rs 273.95 on BSE today. Gulshan Polyols stock has climbed 24.61% in one year and gained 11.39% since the beginning of this year.  Total 9704 shares of the firm changed hands amounting to a turnover of Rs 26.93 lakh on BSE. Market cap of the firm stood at Rs 1454 crore on BSE.     

In terms of technicals, the relative strength index (RSI) of the stock stands at 55.3, signaling it's trading neither in the overbought nor in the oversold zone. Gulshan Polyols shares have a beta of 1.1, indicating high volatility in a year. Gulshan Polyols shares stand higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. 

“In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has fixed Wednesday, 21st day of June 2023 as the 'Record Date', for the purpose of ascertaining the eligibility of shareholders be entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Share of Re. 1/- each for every 5 (Five) existing Equity Shares of Re. 1/- each held as on the Record Date, subject to the approval of Members which is being obtained by way of Postal Ballot dated May 12, 2023 through e-voting,” said the firm.  

Earlier, the board of Gulshan Polyols on 12 May 2023 recommended a bonus issue of equity shares in ratio of 1:5. 

The firm reported a 3.19% rise in revenue to Rs 301.54 crore in the March 2023 quarter against Rs 292.23 crore  in the March 2022 quarter.Net profit climbed 24.68% to Rs 14.55 crore in Q4 against Rs 11.67 crore in the March 2022 quarter.  EBITDA rose  3.65% to Rs 25.81 crore in Q4 against Rs 24.90 crore in the March quarter of 2022.     

On an annual basis, net profit slipped 46.79% to Rs 45.36 crore for the fiscal ended March 2023 against Rs 85.25 crore for the fiscal ended March 2022.  

Revenue climbed 7.18% to Rs 1179.73 crore in the March 2023 fiscal against Rs 1100 crore for the fiscal ended March 2022.  

Gulshan Polyols Limited (GPL) is a multi-product manufacturing company that is focused on manufacturing organic fructose, sorbitol and various industrial chemicals. The company’s business portfolio covers starch sugars and native starches, calcium carbonate; agro-based animal feed, alcohol business and On-site precipitated calcium carbonate plants.