Another order win by the company. They seem to be on track to achieve double last year’s revenue in the first half of FY24 itself.
KOTYARK_07072023172506_KIL_PR.pdf (579.5 KB)
Only red flag I see is why two company secretaries resigned and CFO resigned within a space of 4 months.
Otherwise company seems to be doing extremely well.
- Capacity utilization last year was around 8%.
- From google search, it seems like manufacturing process is not very complex. Can also be a risk as it allows easy entry of competition in the industry.
- Simple trading business where cost of production is Rs 80 and selling price is Rs 87.
- With current year’s orders they will be using 30% capacity in H1FY24. I read somewhere that they are looking to set up new greenfield capacity. So they must be seeing good traction to start thinking of additional capex when the existing capacity is only 30% utilized
Company expanding capacity to meet growing demand. Company poised to benefit from government’s 20% blending target | Mint (livemint.com)
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