KOTYARK INDUSTRIES LTD

Manufactures biodiesel from multiple feedstocks (10-15 types) at its Rajasthan plant, which was tripled in capacity from 500 KLPD to 1,500 KLPD in FY26, taking cumulative annual capacity to 4,80,000 KL. Two additional 200 KLPD plants at Jhajjar (Haryana) and Kanpur (UP) are targeted for commissioning in December 2026. The company sells biodiesel primarily to Oil Marketing Companies (OMCs) under tender, and is pushing into industrial buyers and export channels. Order book stands at ~Rs 80 cr executable (about Rs 50 cr from OMCs, Rs 30 cr from others) plus a ~Rs 215 cr pipeline. By-products include glycerin, which is also monetised, and the company has generated 57,000+ Vera-certified carbon credits, making it the first Indian biodiesel firm to receive this certification. The FY26 cost base is dominated by materials/feedstock at 67.4% of revenue, with depreciation at 4.1% and other operating expenses at 6.1%. Current capacity utilisation is only 7-8%, which management plans to lift to 60-70% over the next few years.