Kotyark Industries Ltd Share Price – NSE

Miscellaneous, Small Cap

In an exchange filing made after market hours on Tuesday, the company said stated that Kotyark and its amalgamating company Yamuna Bio Energy have received an an allocation sheet against the tenders for procurement of biodiesel filed by both the companies for the period of December 2023 to September 2024.

The two companies have received partial allocation sheets with a cumulative procurement quantity of 90,135 KL from OMCs [Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL)] worth Rs 733 crore.

Gaurang Shah, chairman and managing director, said: “We are pleased to announce a momentous achievement for Kotyark Industries Limited and Yamuna Bio Energy Private Limited. This marks a pivotal moment for both companies, underscoring our commitment to sustainable energy solutions.

The latest order, totaling an impressive 90,135 KL, surpasses the size of all our previous orders till date.

It is noteworthy that, out of the total tenders issued for a quantity of 8,90,747 KL, only a partial quantity of 4,18,750 KL (47% of the tender volumes) has been awarded so far. The allocation for the remaining quantity is expected to be announced soon.”

Kotyark Industries is engaged in the manufacturing of biodiesel and its by-products, and is one of the key players across the state of Rajasthan in India. It’s manufacturing unit at Swaroopganj, District Sirohi, RICCO, Rajasthan has a capacity of producing 500 KL of biodiesel per day from multi feedstock.

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Kotyark Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 6 January 2024 .

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Kotyark Industries will hold a meeting of the Board of Directors of the Company on 14 December 2023.

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Kotyark Industries has announced that it secured the Consent to Establish letter from the Rajasthan State Pollution Control Board for its factory located in Swaroopgunj, Rajasthan. This approval allows the company to increase its production capacity of bio diesel product and glycerin by-product. With this consent, Kotyark Industries can now manufacture bio diesel products up to 1000 KL per day and Glycerin by-product up to 140 KL per day, representing a notable increase from the previous limits of 500 KL and 70 KL per day, respectively.

In March 2023, the company had applied for this approval under the Water (Prevention & Control of Pollution) Act, 1974 and the Air (Prevention & Control of Pollution) Act, 1981. Following a review process, the Rajasthan State Pollution Control Board approved the application on 8 November 2023.

Additionally, Kotyark Industries has disclosed that their board will meet on 14 December 2023 to discuss fundraising and other business matters.

Kotyark Industries is primarily engaged in the manufacturing of bio fuel. BioDiesel is renewable clear burning diesel fuel produced from non edible vegetable oil.

The company's net profit surged 123.7% to Rs 9.35 crore on 156% increase in net sales to Rs 123.97 crore in the first half of FY2024 copared with the same period last year.

On the NSE, shares of Kotyark Industries fell 1.16 % to Rs 866 on 8 December 2023.

The company's current market capitalisation stands at Rs 756.39 crore.

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