### **Overview** Kotyark Industries Limited (KIL), incorporated in 2016, is India’s **only publicly listed pure-play biodiesel manufacturer**, dedicated exclusively to the production of biodiesel and its value-added by-products. Listed on the NSE Emerge platform since 2021, the company has emerged as a key player in India’s green energy transition, operating with a vertically integrated and sustainable business model across Rajasthan and Gujarat. --- ### **Core Business & Products** - **Primary Product:** Biodiesel – a renewable, drop-in fuel compatible with all diesel engines without engine modifications. It meets international renewable fuel standards and supports India’s clean energy mandates. - **By-Product:** Crude glycerin, generated at a rate of **~14 liters per 100 liters of biodiesel**, which is further refined into **high-purity glycerine** for use in food, pharmaceuticals, cosmetics, biodegradable plastics, and industrial applications. This dual-stream approach enhances revenue diversification and financial resilience. --- ### **Manufacturing & Capacity** Kotyark operates **two state-of-the-art manufacturing facilities**: 1. **Sirohi (Rajasthan):** Established in 2019 on a 10,000 sq. m. plot in Swaroopganj. 2. **Anand (Gujarat):** Acquired via amalgamation with Yamuna Bio Energy Private Limited. #### **Production Capacity (as of Nov 2025):** - **Biodiesel:** 480,000 kiloliters (KL) per annum - **Crude Glycerin:** ~63,000 kiloliters per annum - **Refined Glycerine:** Processed in-house at Sirohi; pilot plant (4 MT/day) operational since Jan 2023, with plans for a 70 MT/day commercial facility. Both plants are **indigenously designed**, fully integrated, and feature high asset turnover and productivity. Key processes include feedstock pre-treatment, transesterification, separation, washing, and drying. The entire operation maintains **zero effluent discharge**, aligning with environmentally sustainable manufacturing practices. --- ### **Feedstock & Raw Materials** - **Primary Feedstock:** Non-edible and used vegetable oils – scarce but critical raw materials in India. - **Other Inputs:** Ethanol, methanol, isopropyl alcohol, butanol, sodium hydroxide (NaOH), potassium hydroxide (KOH). Kotyark’s **promoters bring multi-generational expertise in vegetable oil trading**, giving the company a significant strategic advantage in securing consistent, cost-effective, and high-quality feedstock supply across India. --- ### **Strategic Growth Drivers** #### 1. **Government Policy Support** India aims for a **5% biodiesel blend in diesel by 2030**, driving rising demand from Oil Marketing Companies (OMCs). Kotyark is well-positioned to capitalize on this mandate through participation in OMC tenders and supply agreements. #### 2. **Amalgamation with Yamuna Bio Energy** Completed in 2022–2023, this merger significantly enhanced Kotyark’s scale, production capacity, order book, and operational efficiency. It consolidated manufacturing assets in Rajasthan and Gujarat, strengthening the combined entity’s market leadership. #### 3. **Carbon Credit Leadership** Kotyark became the **first Indian biodiesel company to earn Verra accreditation**, validating its carbon reduction impact. The company has already generated **57,874 carbon credits (2020–2022)** and is poised to monetize future credits, creating a new revenue stream. #### 4. **Expansion into Glycerine Value Chain** With the commissioning of a glycerine processing pilot plant and plans for a **70 MT/day commercial facility (investment: ₹12–14 crores)**, Kotyark is transitioning from a biodiesel-only player to a **multi-product bio-refinery model**, unlocking export potential and higher-margin opportunities. --- ### **Sales & Distribution Network** Kotyark serves a diversified customer base across three major segments: 1. **Oil Marketing Companies (OMCs):** Primary revenue contributor; supplies under government tenders. 2. **Bulk Buyers:** Industrial and mining units benefiting from lower biodiesel pricing and 12% GST input credit. 3. **Retail Consumers:** Through **25 Mobile Retail Outlets (MROs)** under the brand **'Green N Green'**, strategically located along highways in Rajasthan. - **MRO Model:** Asset-light dealership model enabling scalable expansion with minimal capital outlay. - **Future Plan:** Apply for licenses to add **50 more outlets**, expanding retail presence across Rajasthan and neighboring states. **Receivable Cycle:** Approximately **15 days** across retail and bulk buyers—significantly faster than the previous 45-day cycle with OMCs—resulting in improved cash flow. --- ### **Market Position & Competitive Advantages** - **First & Only Listed Pure-Play Biodiesel Company in India** → Offers unique investment exposure to green fuels. - **Diversified Revenue Mix:** Reduces reliance on any single channel and mitigates risks from diesel price volatility or policy shifts. - **Unutilized Capacity:** Operates well below full capacity, enabling **organic growth without near-term capital expenditure**. - **Proprietary Technology:** In-house designed facilities ensure operational efficiency, low waste, and high productivity. - **Strong Supplier & Customer Relationships:** Built on reliability, quality, and long-term contracts. --- ### **Financial & Strategic Milestones** - **IPO (2021):** Successful listing on NSE Emerge, followed by **preferential share issuances**, strengthening the balance sheet and funding growth. - **Revenue & Margins (FY23):** Despite a dip in turnover (₹113.56 Cr vs ₹156.04 Cr in FY22), **operating profit rose to ₹17.85 Cr** (margin: 15.7%) and **PAT to ₹11.47 Cr** (net margin: 10.1%), reflecting improved efficiency. - **Post-Balance Sheet Events:** - Secured supply contract with OMCs for **7,851 KL of biodiesel (₹63.85 Cr)** for delivery in Gujarat and Rajasthan. - Received **'Consent to Operate'** from Rajasthan State Pollution Control Board until **April 2034**, ensuring long-term operational stability.