Kotyark Industries Order Book at ₹233 Crore; Management Targets 25–30% Revenue CAGR
Kotyark Industries Limited has outlined its growth strategy for the next three years, focusing on improving capacity utilisation, expanding its customer base, strengthening its glycerin business, and increasing participation in the OMC biodiesel market.
The company shared an investor presentation and performance note on September 18, 2026, covering its current order book, manufacturing capacity, management outlook, and FY27-FY29 roadmap.
Kotyark Industries Order Book
Kotyark Industries currently has an order book of approximately ₹173.45 crore from Oil Marketing Companies (OMCs) and around ₹60 crore from other customers.
This takes the disclosed order book to approximately ₹233.45 crore.
In addition, the company has an estimated ₹15 crore order pipeline under discussion, which could provide further business visibility if converted into orders.
The company said it expects to execute the existing OMC order book across the current and upcoming quarters. It also highlighted the extension of the OMC tender by another two months as an additional execution visibility factor.
Capacity Expansion: From 500 KLPD to 1,500 KLPD
A key part of Kotyark Industries’ strategy is the expansion of its Rajasthan biodiesel manufacturing capacity.
The company has increased its Rajasthan production capacity from 500 KLPD to 1,500 KLPD, effectively creating a three-fold increase in installed capacity.
Across its manufacturing operations, the company reports annual biodiesel production capacity of approximately 4,80,000 KL. Crude glycerin production capacity is approximately 63,000 KL per year.
However, the company is currently operating at relatively low capacity utilisation. Sirohi, Rajasthan, has a reported utilisation level of around 5–6%, while the Anand, Gujarat facility is operating at around 30%.
Management is therefore focusing on increasing utilisation rather than immediately adding another large manufacturing capacity.
Capacity Utilisation Target
Kotyark Industries said it aims to increase overall capacity utilisation from the current 7–8% range to around 60–70% over the medium term.
The company expects higher OMC participation, increasing biodiesel blending requirements, and growth in industrial demand to support the utilisation ramp-up.
The investor presentation also states that the existing infrastructure provides significant scalability potential without immediate large-scale capex requirements.
Management Commentary
Management said consolidated revenue in the first quarter of FY27 increased 11.5% year-on-year to ₹91.98 crore, while PBT increased 30.54% YoY to ₹7.47 crore.
The company attributed the performance to continued biodiesel demand from OMC and industrial applications, along with cost discipline and operational efficiency.
At the same time, management noted that standalone profitability remained under pressure because of the prevailing international price differential between fossil fuels and biofuels, despite continued growth in domestic biodiesel consumption.
Management expects domestic biodiesel consumption to remain broadly stable over the next 12 months.
Glycerin Business: Additional Revenue Opportunity
Kotyark is also looking to increase the contribution from glycerin, a by-product of biodiesel production.
The company has approximately 63,000 KL of annual crude glycerin production capacity. It said that around 14 litres of crude glycerin can be produced from every 100 litres of biodiesel.
The company is working to increase glycerin processing efficiency and expand supplies to sectors such as pharmaceuticals and personal care, with the objective of improving by-product monetisation.
This forms part of the company’s strategy to diversify revenue beyond biodiesel sales.
FY27: Focus on Capacity Utilisation
For FY27, management’s primary focus is on strengthening the core biodiesel manufacturing business.
Key priorities include:
- Optimising the existing 4,80,000 KL annual capacity
- Increasing capacity utilisation from 7–8% toward 60–70%
- Improving operating leverage
- Increasing participation in OMC opportunities
- Strengthening industrial and distribution channels
The company expects better utilisation to support operating efficiency and profitability.
FY28: Distribution and Glycerin Expansion
For FY28, the company plans to focus on scaling its integrated business ecosystem.
The roadmap includes:
- Expanding its industrial and bulk-buyer presence
- Increasing retail fuel network reach
- Improving logistics integration
- Increasing glycerin processing efficiency
- Expanding glycerin supplies to pharmaceutical and personal-care sectors
- Improving by-product monetisation
- Continuing cost optimisation and supply-chain integration
FY29: ESG and Long-Term Expansion
For FY29, Kotyark Industries plans to focus on building a longer-term scalable platform.
The company’s roadmap includes strengthening its waste-to-energy ecosystem, expanding ESG-aligned operations, and exploring carbon-credit monetisation opportunities linked to biodiesel and waste-to-energy operations.
Management also plans to evaluate downstream biofuel opportunities and additional feedstock ecosystems.
Revenue and EBITDA Margin Targets
Kotyark Industries has set an internal growth aspiration of approximately 25–30% revenue CAGR over the next three years.
It has also outlined an 18–22% EBITDA margin aspiration over the same period.
According to the presentation, the expected drivers include:
- Higher plant utilisation
- Improved operating efficiency
- Integrated feedstock sourcing
- Greater contribution from value-added products
These are management aspirations and should not be treated as guaranteed financial outcomes.
Key Points for Investors
Kotyark Industries’ current growth strategy is centred on utilising existing expanded capacity rather than immediately undertaking another major capacity expansion.
The main factors to monitor going forward are:
- Execution of the ₹173.45 crore OMC order book
- Execution of the approximately ₹60 crore non-OMC order book
- Conversion of the ₹15 crore order pipeline
- Improvement in capacity utilisation
- OMC tender participation and order inflows
- Biodiesel pricing and feedstock costs
- Glycerin monetisation
- Industrial and retail customer additions
- Progress toward the company’s 25–30% revenue CAGR and 18–22% EBITDA margin aspirations
Bottom Line
Kotyark Industries enters FY27 with an expanded 1,500 KLPD Rajasthan capacity, a disclosed order book of approximately ₹233.45 crore, and a management strategy centred on raising capacity utilisation.
The key operational challenge is not simply adding capacity but converting the expanded manufacturing footprint into higher utilisation, revenue and operating leverage. At the same time, the company is looking to diversify through industrial customers, retail distribution and value-added glycerin products.
The next few quarters will therefore be important for tracking order execution, capacity utilisation and margins against management’s stated three-year growth roadmap.
Disclaimer: This article is based on information disclosed in Kotyark Industries Limited’s investor presentation and performance note dated September 18, 2026. The management’s growth and margin targets are forward-looking aspirations and actual results may differ. This article is for informational purposes only and is not investment advice.