Gulshan Polyols rose 3.56% to Rs 267.95 after the company said its application for Rs 170-crore term loan has been sanction by HSBC.
Gulshan Polyols had approached Hongkong and Shanghai Banking Corporation (HSBC) for availing a term loan of Rs 170 crore for setting up an ethanol project of 500 KLPD capacity at Chhindwara in Madhya Pradesh.Following the application, the company has received sanction letter on 21 December 2021 from HSBC.
The Rs 170-crore term loan carries a door-to-door tenor of five years including one year moratorium.
Net profit of Gulshan Polyols rose 66.26% to Rs 28.48 crore on 32.92% rise in net sales to Rs 277.28 crore in Q2 September 2021 over Q2 September 2020.
Gulshan Polyols is one of the largest manufacturers of Precipitated Calcium Carbonate and Sorbitol in India.
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