Gulshan Polyols is in the business of manufacturing Sorbitol and Calcium Carbonate for supplies to the toothpaste, pharmaceutical, paper and paints industries. The company has shown consistent growth in revenues and profits over the last five years – reporting 35cr of operating profits on 275cr of revenues in the last financial year. It operated with modest debt of 35cr (as at 31 st March, 2011). Its Sorbitol product is exposed to the vagaries of the monsoon since a primary input is corn, which may also be used for alternative uses (such as ethanol etc.). It is also exposed to the risk of cheap imports (and related government policies) and substitute products for the same applications.
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