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The net profitability of the company shot up by whopping 2282 per cent from the corresponding quarter last year

On Monday, shares of Kotyark Industries surged more than 6 per cent to record an intraday high of Rs 549.95 apiece on NSE. The scrip witnessed a massive spurt in volume.  

The company made an announcement which stated that it has made a tender for procurement of biodiesel from Non-UCO feedstock. Kotyark Industries Limited has received an allocation sheet for their company's tender from IOC, HPCL, BPCL, amounting to Rs 115.90 crore and a tender of 8400 KL for Yamuna Bio Energy Private Limited from IOC, HPCL, BPCL, amounting to Rs 78.50 crore for procurement of Biodiesel.  

The company has received letters of intent from Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) for the above allocation and thereby they have received all the letters of intent stating 100 per cent of tender size as referred above from IOCL (Indian Oil Corporation Ltd.), BPCL (Bharat Petroleum Corporation Ltd.) and HPCL (Hindustan Petroleum Corporation Ltd.). 

This announcement indicates that Kotyark Industries Limited has successfully secured a significant allocation for the procurement of biodiesel from non-UCO feedstock. The company's success in securing the allocation is a testament to its commitment to sustainable and eco-friendly practices. The allocation will enable the company to continue to contribute to the development of a greener economy and reduce its carbon footprint. It is a positive step forward for the company and the environment as a whole. 

In Q3FY23, the standalone net sales of the company zoomed more than 97 per cent from last year’s same quarter to Rs 47.91 crore. The EBITDA level surged by more than 1700 per cent from December 2021 quarter to Rs 4.81 crore. The net profitability of the company shot up by whopping 2282 per cent from the corresponding quarter last year to Rs 3.29 crore.  

Kotyark Industries is serving towards renewable green energy and sustainable development of renewable natural resources and through the adoption of environmentally friendly technology that favours the net reduction of greenhouse gas emissions for use in a vehicle for public and private transport as well as various equipment and Gen Sets. 

Keep a close eye on this trending stock.