Jiya Eco to shortly commence operations in new facility

Jiya Eco Products is going to commence operation of its new pellet facility in Gandhidham, Gujarat. The share could be in focus on Friday.

The new facility is spread over three acres and has a total capacity of 54,400 tonnes per annum and will initially have a capacity utilisation of 35 per cent.

In Q1FY20, the revenue for the quarter came in at Rs. 52.51 crore, registering 10.2 per cent yoy increase. EBITDA for the quarter grew by 10.4 per cent yoy to Rs. 8.41 crore. PAT for the quarter came in at Rs 7.45 crore, an increase of 21.3 per cent yoy. Going ahead, the company is planning to expand its geographical presence in Maharashtra, Rajasthan and MP.

Jiya Eco Products is engaged in the manufacturing of bio-fuels, viz. bio-briquettes and bio-pellets, which are an alternative source of energy and have the ability to replace/are fairly good substitutes of traditional fossil fuels like coal, firewood, lignite, etc.

The stock of the company on Thursday opened at Rs. 55 as against Wednesday’s close of Rs. 54.60. At closing hours, it was trading at Rs. 53.30, 2.38 per cent lower than its previous close. The stock hit an intra-day high of Rs. 57.35 and intra-day low of Rs. 52.20. Its 52-week high was Rs. 86.65 and 52-week low was Rs. 32.10 on the BSE.