Indias only pure play listed biodiesel company has successfully commissioned glycerine processing plant! Do you own it?

In the current pilot manufacturing capacity, the company can generate a sales turnover of ~Rs 5-6 crore annually

Kotyark Industries Limited, India’s only pure play listed biodiesel company, has announced the successful completion of a pilot project to process its key byproduct i.e., crude glycerine into glycerine (with different purity variants) that has a diverse set of applications ranging from biodegradable plastics, paints & coatings, pharmaceuticals, cosmetics, cleaning agents, and edible oil refineries among others.

This pilot plant facility with a production capacity of 4 MT per day has been set up in the company's existing biodiesel facility located at Swaroopganj, District Sirohi, RICCO, Rajasthan with an investment of ~ Rs 90 lakhs. In the current pilot manufacturing capacity, the company can generate a sales turnover of ~Rs 5-6 crore annually.

Production from this unit has successfully commenced. Taking cue from the initial success of this plant, abundant availability of crude glycerine from existing biodiesel operations & from the market, and a ready market opportunity; the company has decided to set up a larger facility with a capacity of 70 MT per day.

This project will involve a Capex of Rs 12-14 crore and will be financed from internal accruals. The company expects commissioning of this facility by the end of current quarter, and production ramp-up in the coming financial year.

Kotyark Industries Limited, incorporated in 2016, 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.

On Tuesday, the stock of Kotyark Industries Limited closed at Rs 418, down by 1.10 per cent.

Keep a close eye on this trending stock for more action in the coming trading sessions!