Not sure weather your queries were answered through mail @Gaurav_Kothari. I attended the AGM and would highlight what I understood. Other participants who attended, request you to give your insights for benefit of all.
Comments from Management:
- Crossed milestone of “Obtaining Veera Carbon Credit”. We are 1st Listed Bio-Diesel company to have this acknowledgement.
- Increased Capacity from 500KLPD to 1500KLPD for Biodiesel. Increased Capaicty from 17KLPD to 210KLPD in Glycerine.
- In FY24, we got LOI for 1.97L but PO of only 35.8K were issued. Historically, it has happened. If PO is not issued within tender timelines than whole LOI is invalid.
- Applied for subsidy with RJ govt, our manufacturing unit is eligible. Once approved, will increase our financial position.
Answers of Q&A:
- All RM we use are sourced locally, RM is non-edible oil. There is ample availability of RM in market.
- There is pricing formula with OMCs: Past 3 months average RM Price + Rs. 15 Processing Charges + Profit. So we are protected with RM price fluctuations.
- We expanded from 500KLPD to 1500KLPD despite being underutilized. Confident of utilizing same… At full utilization level - turnover potential at current price is 5000cr…
- Biodiesel & Ethanol both started in 2005. First big tender for Ethanol was received in 2015 and then it got slow. Ethanol as of today is stabalized. So, similar could happen with Biodiesel.
- No guidance on Revenue, H2 results will come shortly and I can say it has been good year so far. Compared to last year, this year EBIDA will be same.
Note: I have posted only short transcript and not done any analysis. Folks with better understanding of company, request you to give valuable insights. I feel, government’s initiative to fast-track the use of Biodiesel would be game changer for Kotyark with exponential growths.
Regards,
Mukul Jain
Disc: Invested
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