Right
So OMC releases the tender → Purchase Order → Letter of intent
Since the bio diesel theme is new there is gap in the procurement of bio-diesel from OMC side. Also the raw material prices are high.
Post elections we should see some improvement in the procurement process and more and more tender will be released
Please see the ppt released by company. It was able to fully execute the quantity received in LOI. Its the OMC’s which are delaying plus govt extended the penalty imposition by 1 year and hence a delay in procurement as per my analysis
Disclaimer - Invested and biased
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