Vadodara (Gujarat) [India], May 14: Kotyark Industries Limited, India’s only pure play listed Biodiesel Company, has announced its financial results for the half-year and year ended March 31st, 2022. The company announced an increase of 727 % in profit and declares dividend of ₹ 2.
Financial Highlights for the half-year ended March 31st, 2022:
- Revenue from Operations stood at ₹ 8,974.83 Lakhs in H2FY22 compared to ₹ 3,470.91 Lakhs in H2FY21 and ₹ 6,629.76 Lakhs in H1FY22, an increase of 159% YoY and 35% sequentially
- EBITDA (excluding Other Income) stood at ₹04 Lakhs in H2FY22, an increase of 450% YoY and 202% sequentially
- EBITDA margins stood at 7% in H2FY22, an increase of 565 bps YoY and 588 bps sequentially
- PAT stood at ₹65 Lakhs in H2FY22 compared to ₹ 72.82 Lakhs in H2FY21 and ₹ 197.37 Lakhs in H1FY22, an increase of 815% YoY and 238% sequentially
Financial Highlights for the year ended March 31st, 2022 :
- Revenue from Operations stood at ₹ 15,604.59 Lakhs in FY22 compared to ₹ 6,520.61 Lakhs in FY21, an increase of 139% YoY
- EBITDA (excluding Other Income) stood at ₹ 1,272.32 Lakhs in FY22, an increase of 338% YoY
- EBITDA margins stood at 2% in FY22, an increase of 370 bps YoY
- PAT stood at ₹04 Lakhs in FY22 compared to ₹ 104.44 Lakhs in FY21, an increase of 727% YoY
Commenting on the H2 & FY22 performance, Gaurang Shah, Chairman and Managing Director, said:
“Your Company has reported robust numbers in its H2 & FY22 results. I am pleased to state that we have set a new benchmark for ourselves in terms of topline, operating profits and bottom line. Our FY22 Revenue from Operations stood at an all-time high of ₹156.05 crores, an increase of 139% on a Y-o-Y basis. This growth has been despite a delayed rise in fuel prices in Q4FY22. The Company has been driving growth primarily on the basis of higher volumes and better utilisation of its manufacturing facility. As a result, Operating Profit margins for the year FY22 stood significantly higher at 8.2% compared to 4.5% in the previous year. An increase in margins coupled with a significant increase in topline led to an exponential 727% increase in net profit for the year under review.
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 we set out to revolutionise the fuel industry by enabling sustainable alternative energy, we are pleased with the direction that the Indian government has accorded. We are confident that policy changes such as the envisaged 5% blending targets of biodiesel in diesel by 2030 will augment our performance in the coming years and will enable us to realise our goal of becoming the leading biodiesel manufacturer in India. Furthermore, our performance for the year adds legitimacy to our goals, and we are confident that we will be able to deliver on our promises.”
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.