Kotyark Industries Limited reports H2 and FY22 results

May 13, 2022 23:30 IST | ANI Press Release
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Kotyark Industries Limited reports H2 and FY22 results, announces increase of 727 per cent in profit and declares dividend of Rs 2

Vadodara (Gujarat) [India], May 13 (ANI/PNN): Kotyark Industries Limited, India's only pure play listed Biodiesel Company, has announced its financial results for the half-year and year ended March 31, 2022. The company announced an increase of 727 per cent in profit and declares dividend of Rs 2.

Financial Highlights for the half-year ended March 31, 2022:

-Revenue from Operations stood at Rs 8,974.83 Lakhs in H2FY22 compared to Rs 3,470.91 Lakhs in H2FY21 and Rs 6,629.76 Lakhs in H1FY22, an increase of 159 per cent YoY and 35 per cent sequentially

-EBITDA (excluding Other Income) stood at Rs 956.04 Lakhs in H2FY22, an increase of 450 per cent YoY and 202 per cent sequentially

-EBITDA margins stood at 10.7 per cent in H2FY22, an increase of 565 bps YoY and 588 bps sequentially

-PAT stood at Rs 666.65 Lakhs in H2FY22 compared to Rs 72.82 Lakhs in H2FY21 and Rs 197.37 Lakhs in H1FY22, an increase of 815 per cent YoY and 238 per cent sequentially

Financial Highlights for the year ended March 31, 2022 :

-Revenue from Operations stood at Rs 15,604.59 Lakhs in FY22 compared to Rs 6,520.61 Lakhs in FY21, an increase of 139 per cent YoY

-EBITDA (excluding Other Income) stood at Rs 1,272.32 Lakhs 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 864.04 Lakhs in FY22 compared to Rs 104.44 Lakhs in FY21, an increase of 727 per cent YoY

Commenting on the H2 and FY22 performance, Gaurang Shah, Chairman and Managing Director, said: "Your Company has reported robust numbers in its H2 and 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 Rs156.05 crores, an increase of 139 per cent 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 per cent compared to 4.5 per cent in the previous year. An increase in margins coupled with a significant increase in topline led to an exponential 727 per cent 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 per cent 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.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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