Gulshan Polyols Ltd.

•

₹ 190.71-0.63%

2026-08-21

gulshanindia.comBSE: 532457NSE: GULPOLY

Market Cap₹ 1,137 Cr.

Current Price₹ 192

High / Low₹ 228 / 122

Stock P/E26.7

Book Value₹ 103

Price to Book1.82

Dividend Yield0.82 %

ROCE6.5 %

ROE4.1 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Ethanol (Bio-Fuel) / Distillery: 58.8% • Grain Processing: 36.1% • Mineral Processing: 5.2%

PROS

Latest quarter profit grew 1190.0% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.41x)
Working capital cycle has improved - days down from 33 to 12
Company converts assets efficiently - asset turnover of 1.6x

CONS

Company has a low return on capital employed of 6.6%
Company has a low return on equity of 5.1% over last 3 years
Free cash flow has been persistently negative
Operating margins have contracted to 4.7% from 13.8%
Though reporting repeated profits, the company pays out little dividend (7.6%)
Company's return on assets is weak at 2.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Fast Moving Consumer GoodsAlcoholBreweries & Distilleries

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	UNITDSPR	1520.00	58.68	110557.33	1.12	4630.00	1010.31	61220.00	951.35	27.86	7.01
2.	RADICO	4677.00	89.07	62663.57	0.19	229.60	75.91	5867.69	10.43	22.64	6.07
3.	UBL	1352.80	90.41	35768.73	0.74	166.28	-9.65	5919.44	10.01	11.92	4.77
4.	ABDL	598.35	75.74	16736.46	0.90	45.42	-18.65	1809.15	1.85	18.53	6.38
5.	TI	573.70	0.00	14197.58	0.17	31.59	-64.31	2252.43	160.74	28.50	7.50
6.	INDIAGLYCO	1105.85	23.43	7412.15	0.68	96.83	32.19	2988.44	19.39	12.73	6.36
7.	PICCADIL	704.85	49.44	6947.86	0.00	21.43	16.30	270.50	18.78	22.68	16.20
8.	TRUALT	471.35	27.23	4041.95	0.00	59.27	1154.41	626.88	106.29	10.57	21.18
9.	GLOBUSSPR	904.80	28.31	2846.62	0.72	26.48	49.69	1151.88	21.05	5.71	6.66
10.	GMBREW	876.40	12.77	2002.30	1.03	37.74	—	802.90	21.08	20.40	5.79
11.	SDBL	73.13	0.00	1520.38	0.00	1.56	-96.29	609.19	-31.13	18.52	2.46
12.	GULPOLY	182.35	26.67	1137.33	0.82	15.75	1190.01	541.72	22.98	18.29	7.73

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	276	332	302	293	308	371	406	455	440	610	515	593	542
	257	310	276	282	292	360	386	431	424	583	486	557	500
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	1	2	3	4	4	3	1	2	1	1	1	2	0
Interest	1	2	2	2	4	0	4	4	7	8	9	8	8
Depreciation	7	7	7	9	10	5	9	8	8	11	10	11	11
	12	15	19	5	7	8	8	13	2	9	11	20	23
Tax %	22.86%	23.32%	25.66%	6.61%	67.51%	42.12%	21.95%	25.35%	34.41%	25.58%	33.46%	33.89%	30.22%
Net Profit	0	0	0	0	0	5	7	10	1	7	7	13	16
	1	2	2	1	0	1	1	2	0	1	1	2	3
Equity Capital	5	5	5	6	6	6	6	6	6	6	6	6	6
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	5	5	5	6	6	6	6	6	6	6	6	6	6
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Sep 2022

: 276
: 257
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 1
Depreciation: 7
: 12
Tax %: 22.86%
Net Profit: 0
: 1
Equity Capital: 5
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 5
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2022

: 332
: 310
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 2
Depreciation: 7
: 15
Tax %: 23.32%
Net Profit: 0
: 2
Equity Capital: 5
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 5
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2023

: 302
: 276
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 2
Depreciation: 7
: 19
Tax %: 25.66%
Net Profit: 0
: 2
Equity Capital: 5
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 5
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2023

: 293
: 282
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 2
Depreciation: 9
: 5
Tax %: 6.61%
Net Profit: 0
: 1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 308
: 292
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 4
Depreciation: 10
: 7
Tax %: 67.51%
Net Profit: 0
: 0
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 371
: 360
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 0
Depreciation: 5
: 8
Tax %: 42.12%
Net Profit: 5
: 1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 406
: 386
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 4
Depreciation: 9
: 8
Tax %: 21.95%
Net Profit: 7
: 1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 455
: 431
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 4
Depreciation: 8
: 13
Tax %: 25.35%
Net Profit: 10
: 2
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 440
: 424
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 7
Depreciation: 8
: 2
Tax %: 34.41%
Net Profit: 1
: 0
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 610
: 583
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 8
Depreciation: 11
: 9
Tax %: 25.58%
Net Profit: 7
: 1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 515
: 486
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 9
Depreciation: 10
: 11
Tax %: 33.46%
Net Profit: 7
: 1
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 593
: 557
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 8
Depreciation: 11
: 20
Tax %: 33.89%
Net Profit: 13
: 2
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 542
: 500
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 11
: 23
Tax %: 30.22%
Net Profit: 16
: 3
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 6
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,101	1,180	1,378	2,020	2,260
	951	1,092	1,320	1,925	2,126
Operating Profit	152	95	70	100	—
OPM %	14	8	5	5	—
Other Income	2	7	12	5	4
Interest	5	6	10	28	33
Depreciation	32	29	32	37	43
	115	60	28	34	62
Tax %	26	25	36	28	31
Net Profit	85	45	18	25	43
EPS	16	7	3	4	—
Dividend Payout %	12	6	11	8	—
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	14	7	3	4	—
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	14	7	3	4	—

Mar 2022

: 1,101
: 951
Operating Profit: 152
OPM %: 14
Other Income: 2
Interest: 5
Depreciation: 32
: 115
Tax %: 26
Net Profit: 85
EPS: 16
Dividend Payout %: 12
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 14

Mar 2023

: 1,180
: 1,092
Operating Profit: 95
OPM %: 8
Other Income: 7
Interest: 6
Depreciation: 29
: 60
Tax %: 25
Net Profit: 45
EPS: 7
Dividend Payout %: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2024

: 1,378
: 1,320
Operating Profit: 70
OPM %: 5
Other Income: 12
Interest: 10
Depreciation: 32
: 28
Tax %: 36
Net Profit: 18
EPS: 3
Dividend Payout %: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2025

: 2,020
: 1,925
Operating Profit: 100
OPM %: 5
Other Income: 5
Interest: 28
Depreciation: 37
: 34
Tax %: 28
Net Profit: 25
EPS: 4
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

TTM

: 2,260
: 2,126
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 33
Depreciation: 43
: 62
Tax %: 31
Net Profit: 43
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -34%

STOCK PRICE CAGR

10 Years:: 13%
5 Years:: -1%
3 Years:: -2%
1 Year:: 14%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 5%
Last Year:: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-
Equity Capital	5	5	6	6
	530	570	584	607
	61	78	65	153
Trade Payables	58	80	127	230
	119	254	375	326
Total Liabilities	774	988	1,156	1,323
ASSETS	-	-	-	-
	237	276	518	716
Capital Work in Progress	91	278	182	4
	26	23	15	17
	108	157	150	290
	0	0	167	184
Cash & Bank	123	6	10	4
	189	248	114	109
Total Assets	774	988	1,156	1,323
Total Debt	112	248	349	392
Net Working Capital	202	116	125	68
Contingent Liabilities	7	9	15	2
Book Value per Share	103.01	110.61	94.65	98.31
Face Value	1.00	1.00	1.00	1.00
Total Debt	112	248	349	392
Net Working Capital	202	116	125	68
Contingent Liabilities	7	9	15	2
Book Value per Share	103.01	110.61	94.65	98.31
Face Value	1.00	1.00	1.00	1.00

Mar 2022

Equity Capital: 5
: 530
: 61
Trade Payables: 58
: 119
Total Liabilities: 774
: 237
Capital Work in Progress: 91
: 26
: 108
: 0
Cash & Bank: 123
: 189
Total Assets: 774
Total Debt: 112
Net Working Capital: 202
Contingent Liabilities: 7
Book Value per Share: 103.01
Face Value: 1.00
Total Debt: 112
Net Working Capital: 202
Contingent Liabilities: 7
Book Value per Share: 103.01
Face Value: 1.00

Mar 2023

Equity Capital: 5
: 570
: 78
Trade Payables: 80
: 254
Total Liabilities: 988
: 276
Capital Work in Progress: 278
: 23
: 157
: 0
Cash & Bank: 6
: 248
Total Assets: 988
Total Debt: 248
Net Working Capital: 116
Contingent Liabilities: 9
Book Value per Share: 110.61
Face Value: 1.00
Total Debt: 248
Net Working Capital: 116
Contingent Liabilities: 9
Book Value per Share: 110.61
Face Value: 1.00

Mar 2024

Equity Capital: 6
: 584
: 65
Trade Payables: 127
: 375
Total Liabilities: 1,156
: 518
Capital Work in Progress: 182
: 15
: 150
: 167
Cash & Bank: 10
: 114
Total Assets: 1,156
Total Debt: 349
Net Working Capital: 125
Contingent Liabilities: 15
Book Value per Share: 94.65
Face Value: 1.00
Total Debt: 349
Net Working Capital: 125
Contingent Liabilities: 15
Book Value per Share: 94.65
Face Value: 1.00

Mar 2025

Equity Capital: 6
: 607
: 153
Trade Payables: 230
: 326
Total Liabilities: 1,323
: 716
Capital Work in Progress: 4
: 17
: 290
: 184
Cash & Bank: 4
: 109
Total Assets: 1,323
Total Debt: 392
Net Working Capital: 68
Contingent Liabilities: 2
Book Value per Share: 98.31
Face Value: 1.00
Total Debt: 392
Net Working Capital: 68
Contingent Liabilities: 2
Book Value per Share: 98.31
Face Value: 1.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	61	15	66	42
Cash from Investing	-136	-247	-158	-54
Cash from Financing	170	124	88	13
	95	-107	-4	1
Free Cash Flow	61	-237	-113	-14
OCF / Net Profit	0.71	0.34	3.73	1.69
Cumulative 5-Year FCF	0	0	0	0
OCF / Net Profit	0.71	0.34	3.73	1.69
Cumulative 5-Year FCF	0	0	0	0

Mar 2022

: 61
Cash from Investing: -136
Cash from Financing: 170
: 95
Free Cash Flow: 61
OCF / Net Profit: 0.71
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.71
Cumulative 5-Year FCF: 0

Mar 2023

: 15
Cash from Investing: -247
Cash from Financing: 124
: -107
Free Cash Flow: -237
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: 0

Mar 2024

: 66
Cash from Investing: -158
Cash from Financing: 88
: -4
Free Cash Flow: -113
OCF / Net Profit: 3.73
Cumulative 5-Year FCF: 0
OCF / Net Profit: 3.73
Cumulative 5-Year FCF: 0

Mar 2025

: 42
Cash from Investing: -54
Cash from Financing: 13
: 1
Free Cash Flow: -14
OCF / Net Profit: 1.69
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.69
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-
EPS (₹)	16.40	8.69	2.85	3.95
Book Value (₹)	103.01	110.61	94.65	98.31
Dividend per Share (₹)	2.00	0.50	0.30	0.30
Cash EPS (₹)	18.86	11.85	8.04	9.95
PROFITABILITY	-	-	-	-
Operating Margin %	13.81%	8.05%	4.21%	4.71%
Net Margin %	7.74%	3.83%	1.29%	1.22%
ROE %	15.92%	8.14%	3.05%	4.10%
ROCE %	18.50%	9.02%	4.30%	6.46%
	11.01%	5.13%	1.66%	1.99%
EFFICIENCY	-	-	-	-
Debtor Days	40	40	41	32
Inventory Days	36	41	41	40
Payable Days	37	36	43	47
	39	45	39	25
FINANCIAL HEALTH	-	-	-	-
Debt to Equity (x)	0.21x	0.43x	0.59x	0.64x
Interest Coverage (x)	24.15x	10.83x	3.75x	2.21x
	2.17x	1.43x	1.40x	1.14x
GROWTH	-	-	-	-
Revenue Growth %	0.00%	7.18%	16.80%	46.57%
Operating Profit Growth %	0.00%	-37.53%	-26.07%	42.60%
Net Profit Growth %	0.00%	-47.00%	-60.70%	38.90%
	0.00%	0.00%	-67.25%	38.91%
VALUATION	-	-	-	-
P/E (x)	0.00x	0.00x	56.99x	45.32x
P/B (x)	0.00x	0.00x	1.71x	1.82x
Dividend Yield %	0.00%	0.00%	0.18%	0.17%
	0.00x	0.00x	19.23x	15.03x

Mar 2022

EPS (₹): 16.40
Book Value (₹): 103.01
Dividend per Share (₹): 2.00
Cash EPS (₹): 18.86
Operating Margin %: 13.81%
Net Margin %: 7.74%
ROE %: 15.92%
ROCE %: 18.50%
: 11.01%
Debtor Days: 40
Inventory Days: 36
Payable Days: 37
: 39
Debt to Equity (x): 0.21x
Interest Coverage (x): 24.15x
: 2.17x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 8.69
Book Value (₹): 110.61
Dividend per Share (₹): 0.50
Cash EPS (₹): 11.85
Operating Margin %: 8.05%
Net Margin %: 3.83%
ROE %: 8.14%
ROCE %: 9.02%
: 5.13%
Debtor Days: 40
Inventory Days: 41
Payable Days: 36
: 45
Debt to Equity (x): 0.43x
Interest Coverage (x): 10.83x
: 1.43x
Revenue Growth %: 7.18%
Operating Profit Growth %: -37.53%
Net Profit Growth %: -47.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 2.85
Book Value (₹): 94.65
Dividend per Share (₹): 0.30
Cash EPS (₹): 8.04
Operating Margin %: 4.21%
Net Margin %: 1.29%
ROE %: 3.05%
ROCE %: 4.30%
: 1.66%
Debtor Days: 41
Inventory Days: 41
Payable Days: 43
: 39
Debt to Equity (x): 0.59x
Interest Coverage (x): 3.75x
: 1.40x
Revenue Growth %: 16.80%
Operating Profit Growth %: -26.07%
Net Profit Growth %: -60.70%
: -67.25%
P/E (x): 56.99x
P/B (x): 1.71x
Dividend Yield %: 0.18%
: 19.23x

Mar 2025

EPS (₹): 3.95
Book Value (₹): 98.31
Dividend per Share (₹): 0.30
Cash EPS (₹): 9.95
Operating Margin %: 4.71%
Net Margin %: 1.22%
ROE %: 4.10%
ROCE %: 6.46%
: 1.99%
Debtor Days: 32
Inventory Days: 40
Payable Days: 47
: 25
Debt to Equity (x): 0.64x
Interest Coverage (x): 2.21x
: 1.14x
Revenue Growth %: 46.57%
Operating Profit Growth %: 42.60%
Net Profit Growth %: 38.90%
: 38.91%
P/E (x): 45.32x
P/B (x): 1.82x
Dividend Yield %: 0.17%
: 15.03x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.68	66.68	66.71	66.71	66.71	66.71	66.80	66.80	66.80
	0.00	0.50	0.00	0.06	0.00	0.00	0.00	0.29	0.32
	0.40	0.80	1.11	0.67	0.56	0.07	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	32.93	32.03	32.19	32.56	32.73	33.22	33.20	32.90	32.88

Jun 2024

: 66.68
: 0.00
: 0.40
Government: 0.00
: 32.93

Sep 2024

: 66.68
: 0.50
: 0.80
Government: 0.00
: 32.03

Dec 2024

: 66.71
: 0.00
: 1.11
Government: 0.00
: 32.19

Mar 2025

: 66.71
: 0.06
: 0.67
Government: 0.00
: 32.56

Jun 2025

: 66.71
: 0.00
: 0.56
Government: 0.00
: 32.73

Sep 2025

: 66.71
: 0.00
: 0.07
Government: 0.00
: 33.22

Dec 2025

: 66.80
: 0.00
: 0.00
Government: 0.00
: 33.20

Mar 2026

: 66.80
: 0.29
: 0.00
Government: 0.00
: 32.90

Jun 2026

: 66.80
: 0.32
: 0.00
Government: 0.00
: 32.88

Documents

Announcements

Copy of Newspaper Publication
2026-08-19 - Gulshan Polyols Limited has informed the Exchange about Copy of Newspaper Publications regarding completion of Dispatch of Notice of 26th Annual General Meeting to be held on Friday, September 11, 2026.
Updates
2026-08-18 - Gulshan Polyols Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report'.

Annual Reports

Credit Ratings

Credit Rating- New
2026-07-24 - Gulshan Polyols Limited has informed the Exchange about Credit Rating.

Concalls

Aug 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Feb 2026
Transcript PPTREC