Multibagger Update: Kotyark Industries reports stellar FY22 results; shares lock at 5 per cent upper circuit!
On Thursday, shares of Kotyark Industries locked at a 5 per cent, at Rs 278.25 per share on the bourses. Year to date, the stock has furnished astronomical returns of 67.42 per cent!
India’s only pure play listed Biodiesel company, Kotyark Industries Limited has announced its financial results for the half-year and year ended March 31, 2022.
Financial highlights for FY22 are as follows:
- Revenue from operations stood at Rs 156.04 crore in FY22 as compared to Rs 65. crore in FY21 (an increase of 139 per cent YoY).
- EBITDA (excluding other income) stood at Rs 12.72 crore in FY22 (an increase of 338 per cent YoY).
- EBITDA margins stood at 8.2 per cent in FY22 (an increase of 370 bps YoY).
- PAT stood at Rs 8.64 crore in FY22 compared to Rs 1.04 crore in FY21 (an increase of 727 per cent YoY).
To quote Gaurang Shah, Chairman and Managing Director, Kotyark Industries from a filing with the exchange, “On the operational front, Kotyark Industries has added 8 more mobile retail outlets (MRO) of biodiesel under its brand 'Green N Green', which puts the total to 25 such operational MRO’s. Further, in line with its strategy of expanding Retail Outlets' revenue stream, the Company plans to apply for 50 more licenses. The Company has also made noteworthy progress in leveraging the benefits of carbon credits in its business. At present, the Company is envisaging a potential ~4 lakh units of carbon credit, given its current scale of operations. We have also recommended a dividend of Rs 2 per share to our shareholders, subject to approval at the AGM, in light of our robust financial performance and strengthened balance sheet position.”
As the company sets out to revolutionise the fuel industry by enabling sustainable alternative energy, the management is confident that policy changes such as the envisaged 5 per cent blending targets of biodiesel in diesel by 2030 will augment their performance in the coming years and will enable them to realise their goal of becoming the leading biodiesel manufacturer in India.
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. The company focuses on green energy and sustainable development of renewable resources (biofuel) through the adoption of environmentally friendly technology. It’s manufacturing unit at Swaroopganj, District Sirohi, RICCO, Rajasthan has a capacity of producing 500 KL of biodiesel per day from multi feedstock.
On Thursday, shares of Kotyark Industries locked at a 5 per cent, at Rs 278.25 per share on the bourses. Year to date, the stock has furnished astronomical returns of 67.42 per cent!
Investors should watch out for this counter in tomorrow’s session.