The order will be fulfilled as per the Ethanol Sugar Year (ESY) in four phases
Modi Naturals Ltd. (MNL), through its wholly owned subsidiary, Modi Biotech Private Limited (MBPL), has received an order of Rs.300 crores for 41,600 Kl of ethanol from various OMCs (Oil Manufacturing Companies).
The order will be fulfilled as per the Ethanol Sugar Year (ESY) in four phases. Along with ethanol, by-products generated will be sold separately generating additional revenues. ESY follows November to October period.
The order comes as the demand for biofuels continues to grow across the country, in line with the Government of India’s push towards cleaner energy alternatives. Modi Biotech has been a key player in the biofuel sector, committed to driving innovation and expanding the use of renewable energy sources.
Commenting on the development, Akshay Modi, Managing Director, Modi Naturals, said: “We are extremely happy with the progress achieved so far since the commissioning of plant last year, receiving an order of Rs.300 crore for next ESY is a remarkable milestone achieved this year as well. This significant increase of order for Modi Naturals will be a game-changer for our financial performance. We are committed to the PM’s Vision of Biofuel and are already working on increasing our production capacity and for Phase II expansion to maximize the production capacity. This year our immediate focus is to build on our robust branded business division, we are confident that the ethanol segment will drive future growth and propel our success.”
Modi Biotech is already moving ahead with its expansion plans, with efforts underway to boost production capacity. The company is committed to investing in state-of-the-art infrastructure and innovative technology to ensure timely delivery and meet the stringent quality standards required by OMCs.
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