Kotyark Inds surges after bagging mega biodiesel deal worth Rs 733 crore from OMCs

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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