Good News: This multibagger company has received a large order from HPCL! Do you own it?
The company is engaged in the manufacturing of biodiesel and its byproducts. This multi-bagger SME stock should be on your watchlist that promises to ride the positive ESG trend!
Shares of Kotyark Industries have climbed from Rs 65 to Rs 660 per share in less than ten months. Due to heavy buying, shares have more than doubled since August 02, this year.
Kotyark Industries is India’s only pureplay-listed biodiesel company. On September 18, the company announced that it had received an order from HPCL for Rs 2.65 crore. Yamuna Bio Energy Private Limited has also received an order worth Rs 15.92 crore. Readers should be aware that Kotyark Industries and Yamuna Bio Energy Private Ltd will be merged soon.
Incorporated in 2016, Kotyark Industries 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 53 billion in 2026. Currently, India’s biofuel production accounts for only 1 per cent of the global production.
This multi-bagger SME stock should be on your watchlist that promises to ride the positive ESG trend!