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Gulshan Polyols Limited (532457) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Gulshan Polyols Limited ₹89.38, price ₹162, upside -44.8%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Basic Materials · IN · ISIN INE255D01024

GP Thin data Sep 24, 2026

Gulshan Polyols Limited

532457 · BSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹89.38 · Strongly overvalued (−44.8%)
!Quality 49/100
!Expensive Growth (revenue 5y +26.6 %/yr)
!Thin margins · 4.9% net margin (TTM)
✓Low debt
!0.7% dividend yield · Token dividend
!Narrow moat 39/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹348.45 ₹124.30 Fair Value ₹89.38 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ₹124.30 – ₹348.45 · fair‑value band ₹85.21 – ₹111.72 · the ₹161.95 price screens above the ₹89.38 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Gulshan Polyols Limited engages in the mineral processing, grain processing, and distillary businesses in India and internationally.

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Gulshan Polyols Limited engages in the mineral processing, grain processing, and distillary businesses in India and internationally. The company provides starch sugar products, such as sorbitol 70% solution, dextrose monohydrate, malto dextrine powder, and liquid glucose, as well as rice fructose syrups, brown rice syrups, and rice syrup solids; organic sweeteners; and activated, precipitated, and ground calcium carbonate products. It also offers Grain based extra neutral alcohol, ethanol from damaged food grain, country liquor, bottling, sanitizers, and dried distillers grain solids, as well as alcoholic beverages under the Tiger Gold and Golden deer brands; and manufactures agro based animal feed products comprising corn/maize gluten feed, corn germ, cattle feed/enriched fiber, rice protein/gluten, and corn steep liquor products. In addition, the company provides native and maize starches in various grades. It serves pharmaceutical, personal care, footwear, tire, rubber and plastic, paint, alcohol, paper, agrochemical, and food and agro industries. Gulshan Polyols Limited was incorporated in 2000 and is based in Delhi, India. Gulshan Polyols Limited is a subsidiary of Gulshan Holdings Pvt. Ltd.

Stock analysis

Gulshan Polyols Limited (532457) currently trades at ₹161.95, while our model-based Fair Value estimate is ₹89.38, 44.8% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹132.84 per share, and 2 of the 17 models we run sit above the ₹161.95 price.

Bear case: the Economic Profit group reads lowest at ₹78.79, and 15 of the 17 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹85.21 (bear) to ₹111.72 (bull), the price of ₹161.95 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Gulshan Polyols Limited reported revenue of ₹20.2B in FY2025 versus ₹7.7B in FY2021, a compound +27.4%/yr. Reported net income was ₹247M in FY2025, compounding −20.6%/yr from FY2021.

Key figures

Market cap ₹3.0B (≈ $31.4M) · P/E ratio 13.0 · P/S ratio 0.16 · EPS (TTM) ₹6.36 · Dividend yield 0.7% · Net margin 1.2% · Return on equity 9.5% · Return on assets (EBIT) 9.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and 30% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at −45%, 532457 screens richer than that median.

Fair Value models

Bear ₹85.21 Fair Value ₹89.38 Bull ₹111.72
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹5.16 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income ₹95.43 ₹93.15 ₹96.20 76
EPV ₹63.15 ₹78.79 ₹92.29 74
Owner Earnings n/a ₹4.60 >₹18.40 73
All 17 models by family
DCF Models
Owner Earnings n/a ₹4.60 >₹18.40 73
Earnings-Based
Graham-Dodd ₹35.75 ₹249.32 ₹349.88 63
Lynch FV ₹74.19 ₹105.99 ₹137.79 61
PEG = 1.0 ₹74.19 ₹105.99 ₹137.79 57
EPV ₹63.15 ₹78.79 ₹92.29 74
Dividend Discount
Gordon GGM ₹3.50 ₹6.98 ₹10.57 67
DDM Multi-Stage ₹3.50 ₹6.03 ₹7.37 67
Multiples
P/E Multiple ₹67.03 ₹89.38 ₹111.72 63
P/S Multiple ₹67.03 ₹89.38 ₹111.72 58
P/B Multiple ₹67.03 ₹89.38 ₹111.72 55
EV/EBIT ₹93.81 ₹137.06 ₹180.31 65
EV/EBITDA ₹116.50 ₹167.31 ₹218.12 67
EV/Revenue ₹76.51 ₹124.70 ₹172.89 53
Asset-Based
NCAV (Graham) ₹65.35 ₹87.56 ₹130.69 54
Economic Profit
Residual Income ₹95.43 ₹93.15 ₹96.20 76
ROIC Compounder ₹63.15 ₹78.79 ₹92.29 72
Growth Earnings
Growth-Adj P/E ₹92.99 ₹132.84 ₹172.69 67

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Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 43

Profitability 41
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 48
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+46.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+26.6%
Start year 2020 (pandemic). Over 10 years: +17.6% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.1%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+2.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)0.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 3%

532457 screens overvalued: fair value 45% below the price. Compare with BASF SE →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Chemicals · 341 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −30.9% · Below median
Profitability
Return on equity (TTM) 9.5% · Above median
Return on assets 6.6% · Top 25%
Net margin (TTM) 4.9% · Below median
Operating margin (TTM) 8.3% · Below median
Growth and dividend
Revenue growth 18.1% · Above median
Dividend yield (TTM) 0.7% · Below median
Balance sheet
Debt / equity 0.28× · Above median

Valuation Multiplesvs Chemicals median · lower = cheaper

P/E (TTM) 13.0× · Cheapest 25%
P/B 0.49× · Cheapest 25%
P/S (TTM) 0.50× · Cheaper than median
EV/EBITDA 6.3× · Cheaper than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Gulshan Polyols Limited · Fair Value
₹89.38 −45%Fair Value
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Cite: Fair Value Calculator (2026). "Gulshan Polyols Limited Fair Value". https://www.fairvalue-calculator.com/stock/532457

Frequently asked questions

Is Gulshan Polyols Limited (532457) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹89.38 versus a price of ₹161.95, about −45% upside (overvalued).
What is the fair value of 532457?
Our model-based fair value for Gulshan Polyols Limited is ₹89.38 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹161.95.
What is the quality score of 532457?
Gulshan Polyols Limited has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Gulshan Polyols Limited (532457)?
Our model-based price target is the fair value of ₹89.38 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ₹85.21, optimistic scenario ₹111.72. It is a calculation from audited fundamentals, not an analyst target.
What is the Gulshan Polyols Limited stock forecast for 2026?
Our models put fair value at ₹89.38, about −45% upside versus a price of ₹161.95 (overvalued). Cautious scenario ₹85.21, optimistic scenario ₹111.72. The calculation is refreshed regularly with new filings.
Does Gulshan Polyols Limited pay a dividend?
Gulshan Polyols Limited currently shows a dividend yield of about 0.74% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Gulshan Polyols Limited (532457)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gulshan Polyols Limited it is ₹89.38 per share (as of Sep 24, 2026), against a price of ₹161.95. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Gulshan Polyols Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 532457 trades above its calculated fair value: price ₹161.95, fair value ₹89.38, a gap of about −45% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 532457?
No. The price is what the market pays today (₹161.95); the fair value is what the company's own numbers justify (₹89.38). For Gulshan Polyols Limited the two are ₹72.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is Gulshan Polyols Limited worth?
The market values Gulshan Polyols Limited at about ₹3.0B (market capitalisation, as of Sep 24, 2026). Per share that is ₹161.95; our models calculate a fair value of ₹89.38 per share.
What do the bullish and bearish scenarios say about 532457?
Our models span a range for Gulshan Polyols Limited: cautious scenario ₹85.21, base ₹89.38, optimistic ₹111.72 per share (as of Sep 24, 2026, price ₹161.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 532457?
Gulshan Polyols Limited trades at a price-to-earnings ratio of 13.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹89.38 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.5, EV/EBITDA 6.3.
How solid is the balance sheet of Gulshan Polyols Limited (532457)?
Balance-sheet figures for Gulshan Polyols Limited (as of Sep 24, 2026): return on equity 9.5%, debt of 0.28 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 532457 from its 52-week high?
Gulshan Polyols Limited trades at ₹161.95, about 25% below its 52-week high of ₹215.45 and 30% above the low of ₹124.30 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹89.38 is for.
Which stocks are comparable to Gulshan Polyols Limited?
From the same area (Basic Materials) we also value BASF SE, Ningxia Baofeng Energy Group, Dow Inc, Hengli Petrochemical Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Gulshan Polyols Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹161.95, calculated fair value ₹89.38 (−45%), Quality Score 49/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 532457 calculated?
We run Gulshan Polyols Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹89.38, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Gulshan Polyols Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Gulshan Polyols Limited (532457)?
The closing price on Oct 1, 2026 was ₹161.95. Our model-based fair value is ₹89.38, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gulshan Polyols Limited right now?
The price sits above even our optimistic bull case (₹111.72). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Gulshan Polyols Limited

How large is the market capitalisation of Gulshan Polyols Limited (532457)?
The market capitalisation of Gulshan Polyols Limited is ₹3.0B (≈ $31.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Gulshan Polyols Limited (532457)?
The price-to-sales ratio of Gulshan Polyols Limited is 0.16 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Gulshan Polyols Limited (532457)?
Earnings per share at Gulshan Polyols Limited are ₹6.36 (price ÷ EPS = P/E 13.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Gulshan Polyols Limited (532457)?
The dividend yield of Gulshan Polyols Limited is 0.7% (payout 18.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Gulshan Polyols Limited (532457)?
The net margin of Gulshan Polyols Limited is 1.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Gulshan Polyols Limited (532457)?
The return on equity (ROE) of Gulshan Polyols Limited is 9.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Gulshan Polyols Limited (532457)?
On an EBIT basis the return on assets of Gulshan Polyols Limited is 9.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Gulshan Polyols Limited (532457)?
The operating margin of Gulshan Polyols Limited is 8.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gulshan Polyols Limited (532457)?
Revenue at Gulshan Polyols Limited is growing +18.1% versus a year earlier (3y avg +22.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Gulshan Polyols Limited (532457)?
Earnings per share at Gulshan Polyols Limited are growing +199% versus a year earlier. How much earnings per share grew versus a year earlier.
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