The shares of this biofuel manufacturing company gained up to 3.5 percent after the company received a consent letter for enhancement of the production capacity of Bio Diesel and Glycerin.
With a market capitalization of Rs 1,016.60 crore, the shares of Kotyark Industries Ltd were trading at Rs 989 per share, increasing around 0.34 percent as compared to the previous closing price of Rs 985.65 apiece.
Description of Events:-
The shares of the company have seen positive movement Kotyark Industries Ltd received a consent letter for enhancement of production capacity of Bio Diesel and Glycerin from Rajasthan State Pollution Control Board.
Matter explanation:-
Moreover, as per the letter, Kotyark Industries has been granted for the plant to increase the capacity of Bio Diesel and Glycerin, which is situated at Swaroopgunj. The consent permits the manufacturing/ production of Bio-Diesel up to a maximum quantity of 1500 KL per day and Glycerin up to 210 KL per day.
However, the company will not immediately expand to this enhanced production limit, the proposed expansion of this biodiesel production capacity is strategically aligned with the growing demand for renewable energy sources and biofuels. Moreover, Kotyark is looking forward to leveraging its enhanced capacity to meet the future demand for bio-diesel effectively and contribute positively towards sustainable energy solutions.
Financial performance:-
Looking forward to Kotyark Industries Ltd’s financial performance, revenue increased by 144 percent from Rs 78 crore in H2FY23 to 144 crore in H2FY24. During the same period, net profits shrunk by 15 percent from Rs 13 crore to Rs 11 crore.
Manufacturing unit & capacity:-
The company has two biodiesel manufacturing units, at Sirohi, Rajasthan with a capacity of 500 KL of per day another unit at Anand, Gujarat with a capacity of 100 KL per day from multi feedstock.
Company Profile:-
Kotyark Industries Limited (KIL) prioritizes renewable energy and the sustainable development of biofuels. They use technology to reduce greenhouse gas emissions in vehicles, equipment, and generator sets.
Written by:- Abhishek Singh
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