Multibagger Update: Do you own India's only pureplay-listed biodiesel company that jumped from Rs 67 to Rs 296 in just 8 months?

Incorporated in 2016, the company focuses on green energy and sustainable development of renewable resources.

In spite of the bloodbath on the bourses, Kotyark Industries Ltd surged nearly 9 per cent during the early market hours to Rs 296 per share on NSE.   

Considering the yearly performance, the net profit of Kotyark Industries soared 726.70 per cent to Rs 8.64 crore as against Rs 1.04 crore during the previous year ended on March 2021. Also, net sales rose by 139.31 per cent to Rs 156.05 crore as against Rs 65.21 crore during the previous year ended on March 2021. The company’s scrip has jumped from Rs 67 to Rs 296 in just eight months, giving a strong return of 342 per cent.  

Incorporated in 2016, Kotyark Industries Ltd is engaged in the manufacturing of biodiesel and its byproducts. The company focusses on green energy and sustainable development of renewable resources through the adoption of environment-friendly technology. The company’s core product is biodiesel and in the process of manufacturing the same, it also produces crude glycerin.  

The global biodiesel market stood at around USD 46.79 billion by revenue at the end of 2021. It is expected to grow at a CAGR of 5.87 per cent to reach close to USD 51.48 billion in 2026. Currently, India’s biofuel production accounts for only 1 per cent of the global production.  

Hence, considering the positive long-term outlook for the industry as well as very good opportunities lined up for Kotyark Industries; keep a close eye on this scrip.