Share price of this small-cap stock engaged in the business of manufacturing hit a new 52-week high at Rs. 1,470.1 in the trading session of Tuesday, after bagging a large allocation order for procurement of bio-diesel.
With a market capitalisation of Rs. 1,508 crore, the share price of Kotyark Industries Limited moved up by nearly 11 percent to hit an intraday high at Rs. 1,470 on Tuesday, compared to its previous closing price of Rs. 1,326.2.
The Oil Marketing Companies (OMCs), comprising Indian Oil Corporation Limited (IOC), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL), issued a tender on April 4, 2024, for the purchase of biodiesel.
According to the latest regulatory filings with the NSE, the tender covered a total quantity bidding of 3,71,424 KL for the period from April 2024 to September 2024.
As of date, out of the total tender size, the company has received a partial allocation for 1,87,713 KL of biodiesel and has been awarded the supply tender of 7,851 KL of biodiesel out of 11,988 KL.
The estimated order value for this allocation is nearly Rs. 63.85 crores excluding GST and Transportation Charges for the period of April 2024 to September 2024.
From April 2024 to September 2024, the expected order value for this allocation is roughly Rs. 63.85 crores, excluding GST and transportation charges.
In terms of financials, the company’s revenue from operations grew by nearly 158.3 percent from Rs. 48 crore in H2 FY22-23 to Rs. 124 crore in H1 FY23-24, accompanied by a rise in the net profit by 125 percent from Rs. 4 crore to Rs. 9 crore during the same period.
Kotyark Industries Limited is engaged primarily in the business of manufacturing bio-diesel and operates only in India. The company serves towards renewable green energy and sustainable development of renewable natural resources (BioFuels) through the adoption of eco-friendly technology.
Written by Shivani Singh
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