KOTYARK
Kotyark Industries financials
- Market cap
- ₹364 Cr
- Sector
- Oil, Gas & Consumable Fuels
- Calls analysed
- 1
Kotyark Industries Limited Q4 FY26
What went well
- Achieved FY26 revenue of ₹314.9 crore, EBITDA of ₹48 crore, and PAT of ₹19.4 crore despite low capacity utilization.
- Expanded Rajasthan biodiesel production capacity from 500 KLPD to 1500 KLPD, increasing cumulative annual capacity to approximately 4,80,000 KL.
- Secured an executable order book of approximately ₹80 crore with execution expected over the next three months, and a pipeline of nearly ₹215 crore.
What to watch
- Operating at a relatively low capacity utilization level of around 7% to 8% for FY26.
- Management noted that a factory plant visit cannot be arranged due to the company's lower investment cost per capacity compared to peers, limiting transparency.
What Kotyark Industries Limited does
Kotyark Industries manufactures biodiesel (B100) via transesterification of a flexible multi-feedstock mix — predominantly used cooking oil (UCO), acid oils and non-edible vegetable oils — at two integrated plants in Sirohi, Rajasthan and Anand, Gujarat. Biodiesel is sold through OMC tenders (IOCL, BPCL, HPCL), to bulk industrial buyers such as mining and transport contractors, and through retail/industrial channels. Crude glycerin, generated as a by-product of the process (~14 litres per 100 litres of biodiesel), is further refined at Sirohi and sold into food, pharmaceutical, cosmetics and paint industries.
Segments
- OMCs (Oil Marketing Companies)
- Bulk industrial buyers
- Retail distribution
- Glycerin (by-product)
- Manufacturing facilities
- 2 (Sirohi, Rajasthan & Anand, Gujarat)
- Installed biodiesel capacity
- 4,80,000 KL/yr (Sirohi 1,500 KLPD; Anand 100 KLPD)
- Annual crude glycerin capacity
- ~63,000 KL
- Feedstock flexibility
- ~10–15 feedstocks processed
- Current capacity utilization
- Sirohi 5–6%, Anand 30% (blended ~7–8%)
- Upcoming capacity addition
- 400 KLPD (200 KLPD each at Jhajjar, Haryana and Kanpur, UP; targeted Dec 2026)
Guidance record · Q4 FY26
what the last two calls moved 8 tracked 0 delivered 0 missed 8 open- Revenue Growth open said Q4 FY26 Promised: 15-20% for FY27 Q4 FY26: Management expects revenue to increase by around 15-20% in the current year (FY27).
All 8 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 10.7%, net profit down 7.8% against the same quarter last year.
| Line item | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 144 | 197 | 18 | 77 | 139 −3% | 94 −53% | 64 +253% | 85 +11% |
| EBITDA | 24 | 36 | 5 | 7 | 16 −35% | 10 −73% | 19 +261% | 7 −3% |
| Net profit | 11 | 18 | 1 | 1 | 4 −65% | 3 −83% | 9 +647% | 1 −8% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −89.6% 1Y
1Y: ₹308.25 on 10 Sept 2025 → ₹32.19. High ₹460.1 (21 May 2026), low ₹30.63 (2 Sept 2026).
How the price took the results
close before → close after
- Q4 FY26
- +5.0%
- 24 Jun
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹373 Cr |
| Operating profit | ₹52 Cr |
| Operating margin | 14.0% |
| Interest | ₹11 Cr |
| Depreciation | ₹15 Cr |
| Net profit | ₹17 Cr |
| Net margin | 4.6% |
| Cash from operations | ₹-7 Cr |
| Free cash flow | ₹-9 Cr |
| ROCE | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹8 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹2 Cr | ₹18 Cr | ₹67 Cr | ₹134 Cr | ₹136 Cr | ₹149 Cr |
| Borrowings | ₹14 Cr | ₹4 Cr | ₹34 Cr | ₹62 Cr | ₹71 Cr | ₹78 Cr |
| Other liabilities | ₹1 Cr | ₹1 Cr | ₹4 Cr | ₹9 Cr | ₹16 Cr | ₹12 Cr |
| Total liabilities | ₹18 Cr | ₹31 Cr | ₹115 Cr | ₹215 Cr | ₹233 Cr | ₹249 Cr |
| Fixed assets | ₹6 Cr | ₹6 Cr | ₹26 Cr | ₹74 Cr | ₹61 Cr | ₹56 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹8 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Other assets | ₹12 Cr | ₹25 Cr | ₹81 Cr | ₹139 Cr | ₹172 Cr | ₹192 Cr |
| Total assets | ₹18 Cr | ₹31 Cr | ₹115 Cr | ₹215 Cr | ₹233 Cr | ₹249 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Mar 2025, the public added +11.38 pp while promoters trimmed −10.42 pp. The shareholder count grew 77% to 10,803.
- Promoters
- 57.3%
- FIIs
- 0.1%
- Public
- 42.6%
Since Mar 2025
- Public +11.38 pp
- Promoters −10.42 pp
- FIIs −0.96 pp
How it drifted, 11 quarters
Over this window promoters fell from 72.2% to 57.3% — −14.9 pp.
Ownership split by quarter, oldest first. Oct '21: Promoters 72.2%, Public 27.8%.Mar '22: Promoters 72.2%, Public 27.8%.Sep '22: Promoters 69.0%, DIIs 0.8%, Public 30.2%.Mar '23: Promoters 69.2%, DIIs 1.2%, Public 29.7%.Sep '23: Promoters 69.2%, DIIs 0.0%, Public 30.8%.Mar '24: Promoters 67.7%, FIIs 0.9%, DIIs 0.6%, Public 30.8%.Sep '24: Promoters 67.7%, FIIs 0.9%, DIIs 0.6%, Public 30.9%.Mar '25: Promoters 67.8%, FIIs 1.1%, Public 31.2%.Sep '25: Promoters 67.8%, FIIs 1.1%, Public 31.2%.Mar '26: Promoters 63.8%, FIIs 1.0%, Public 35.1%.Jun '26: Promoters 57.3%, FIIs 0.1%, Public 42.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Rahul Shah newly disclosed 1.78% held
- Rohit Ojha newly disclosed 1.01% held
- Jatin Sheth +0.07 pp 1.14% held
The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kotyark Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Gaurang Rameshchandra Shah | 50.26% | unchanged |
| Bhaviniben Gaurang Shah | 5.47% | −3.13 pp |
| Rahul Shah | 1.78% | newly disclosed |
| Jatin Sheth | 1.14% | +0.07 pp |
| Rohit Ojha | 1.01% | newly disclosed |
| Brijkumar Gaurang Shah | 0.95% | unchanged |
| Vandan Gaurang Shah | 0.66% | unchanged |
| Gaurang R Shah HUF | 0.00% | −3.38 pp |
| Dipikaben Ashokkumar Shah | 0.00% | unchanged |
| Ketkiben Ajaykumar Shah | 0.00% | unchanged |
| Hemaben Pratikbhai Bakshi | 0.00% | unchanged |
| Kotyark Bio Specialities Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Kotyark Industries Limited
Guides on how to read this kind of business and the numbers that matter.