What’s new

• FY27 revenue growth guided at 15-20%, driven by higher utilization and ARAI certifications.
• Two new 200 KLPD facilities in Jhajjar and Kanpur to be commissioned by Dec 2026, funded via internal accruals.
• Export license application filed; approval expected in 4-6 months with revenue contribution from FY27.

Why it matters

Kotyark's current utilization of 7-8% is extremely low for a 1,500 KLPD plant, but the company is now laying out a concrete path to fill it. The 15-20% near-term growth is modest, but the planned 75% capacity expansion signals management's confidence in long-term demand. The real test will be whether utilization can reach the targeted 60-70% over 4-5 years.

What we’re watching

• Capacity utilization ramp in FY27 and acceleration in industrial/retail channels.
• Export license timeline and initial export order wins.
• Policy clarity on blending mandates that could unlock faster demand growth.

The full read

Kotyark Industries ended FY26 with ₹315 crore revenue, ₹48 crore EBITDA, and ₹19 crore PAT — but that was while running just 7-8% of its 1,500 KLPD Rajasthan capacity. The company now expects 15-20% revenue growth in FY27 as utilization ticks up, aided by recent ARAI certifications in industrial and retail channels. More striking is the capacity roadmap: two new 200 KLPD plants in Jhajjar and Kanpur by December 2026, a 75% capacity increase funded entirely from internal accruals. An export license application is underway with approval in 4-6 months, and exports will contribute to FY27 revenue. The OMC business remains a steady contributor with 15 crore litres every three months at 8-10% margins. The near-term growth is modest, but the medium-term target of 60-70% utilization and 60-80% revenue growth over 4-5 years is ambitious. The bet hinges on policy clarity and execution.

Primary source: BSE · NSE