Shares of this small-cap ethanol company surged 9.5% after it expanded its Grain-Based Distillery by 100 KLPD and its Bio-Fuel Ethanol plant by 180 KLPD.
Share price variations:
With a market capitalization of Rs. 4,100.54 crores, India Glycols Limited opened the trading session at Rs. 1,257.10, 2.37% above yesterday’s close of Rs. 1,227.90. The stock reached an intraday high of Rs. 1,344.70, reflecting a 9.51% increase from yesterday’s close. At 11:53 a.m, the stock was trading at Rs. 1,343.65 per share.
Reason for Rise:
According to exchange filings, India Glycols Limited has successfully expanded its capacity by adding 100 KLPD to its existing Grain-Based Distillery and 180 KLPD to its Bio-Fuel Ethanol plant for ethanol-to-biofuel conversion at Kashipur, Uttarakhand. Additionally, the company has increased the capacity for new value-added chemical products by 2,500 MT/year at its Kashipur facility.
With these additions, the total capacity of the Grain-Based Distillery at Kashipur has increased to 500 KLPD, while the Bio-Fuel Ethanol plant now has a capacity of 590 KLPD. The total capacity for new value-added chemical products at the facility stands at 7,500 MT/year.
Recent Updates:
In September the Company tied up with Amrut Distilleries Private Limited, Bengaluru, for manufacturing, bottling, marketing and selling of Amrut’s few premium brands on royalty basis.
The company is also in the process of enhancing its Grain-Based Distillery capacity by 180 KLPD and expanding the Bio-Fuel Ethanol plant by 90 KLPD at Gorakhpur, Uttar Pradesh. This expansion is expected to be commissioned by Q4 FY25.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 17.64% to Rs. 60.00 crores compared to net profit of Rs. 51.00 crores in Q1FY24, while revenue from operations also marked a increase by 40% to Rs. 969.00 crores from Rs. 689.00 crores in comparison to the same period.
The stock has delivered a nearly 66% return over the past six months. In Q1 FY25, the company generated 40% of its revenue from Bio-Based Specialties and Performance Chemicals, 29% from Potable Spirits, 25% from Bio-Fuel, and 6% from Ennature Biopharma.
About the company:
Founded in 1983, India Glycols Limited (IGL) is a leading manufacturer of Bio-Based Specialties & Performance Chemicals (BSPC), Bio-Fuel, Potable Spirits (PS), and Ennature Biopharma (EB). IGL boasts a diversified portfolio that includes Bio-Based Specialties, Bio-Polymers, Plant-Based APIs & Nutraceuticals, Potable Spirits, Gases, Biofuels, and more. The company operates three facilities located in Kashipur, Gorakhpur, and Dehradun.
