On Friday, shares of India’s only pure-play listed biodiesel company that focuses on green energy and the sustainable development of renewable resources (biofuel) surged 15%.
The stock jumped after Kotyark Industries Ltd received a biodiesel order of Rs 178 crore. At 2:05 p.m., shares on the NSE were trading at Rs 662, up 8.93 percent.
As per the exchange NSE filing, The company received an order of value 154.00 Cr from Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited for procurement of Biodiesel from July 2023 to September 2023 for 17,381 KL,
In addition, a firm received an order for Biodiesel worth Rs 24 Cr from the same consumers for its Yamuna Bio Energy Private Limited (the company in the process of merger with firm Kotyark Industries Limited). In Aggregate, the firm got a total order for Bio Diesel procurement of 200,70 KL for a total order value of 178.00 Cr
Kotyark Industries is engaged in the manufacturing of biodiesel and its by-products, and the company serves in the sustainable development of renewable natural resources.
The company’s share has delivered multibagger returns of 144 percent in a year. If a shareholder had invested Rs 1 lakh in the company that would be worth Rs 2.44 lakhs in a year.
Year on year, revenue declined by 27 percent, from Rs 156 crore in FY 21-22 to Rs 113 crore in FY 22-23. During the same time period, net profit increased by 37 percent, from Rs 8 crore to Rs 11 crore.
The marginal ratio for FY 22-23 has increased as compared to the previous year, Net profit margin of 10.09 percent and an operating margin of 14.90 percent.
According to the FY 22-23 shareholding pattern, promoters own 69.17 percent of the firm, while retail investors possess 29.67 percent.
Written by Omkar Chitnis
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