India, 16th December 2024: Modi Biotech Private Limited (MBPL), a wholly-owned subsidiary of Modi Naturals Limited, is accelerating its growth trajectory with a significant expansion of its production capacity. To achieve this, the company is investing in cutting-edge infrastructure and innovative technology. As part of this expansion, Modi Biotech Private Limited (MBPL) has already placed orders and commenced construction on a new project, which will add a significant 180 KLD to its existing capacity of 130 KLD. Upon completion, MBPL’s total production capacity will increase to 310 KLD, enabling the company to meet the growing demand for biofuels and further solidify its position as a leading player in the industry.” This ambitious endeavour comes with a capital expenditure of Rs.100 crores and is slated for completion within 8-10 months.
This development is a testament to Modi Biotech’s commitment to driving growth and innovation in the biofuel sector. The company’s existing 130 KLD grain-based ethanol distillery, accompanied by a 5 MW captive power generation plant, has already established its presence in Raipur, Chhattisgarh. Modi Biotech has received an order of Rs.300 crores for 41,600 Kl of ethanol from various Oil Manufacturing Companies (OMCs).
“We are committed to driving growth and innovation in the biofuel sector, and this expansion is a significant step towards achieving our goals.” – Mr. Akshay Modi, Managing Director, Modi Naturals Ltd.
He further added, “This significant order is a resounding validation of our capabilities and unwavering commitment to delivering high-quality ethanol. We are proud to be contributing to India’s ambitious vision of reducing dependence on fossil fuels and promoting sustainable energy solutions. We are confident that our expanded production capacity will enable us to meet the growing demand for biofuels, while also supporting the government’s initiatives to reduce carbon emissions and promote energy security.”
This significant milestone marks a new chapter in the company’s growth journey, positively impacting its balance sheet and mission to provide sustainable energy solutions. With the government’s push for cleaner energy alternatives and the extension of the ethanol-blended petrol program nationwide, Modi Biotech is well-positioned to capitalize on the growing demand for biofuels. The company’s dedication to innovation and sustainable growth aligns with the nation’s vision of reducing dependence on fossil fuels and lowering carbon emissions.
About Modi Naturals Limited (MNL):
Modi Naturals Ltd is one of India’s leading consumer goods companies operating in the wellness and foods category. MNL has created niche, premium and differentiated brands in highly competitive edible oils and healthy foods categories. During FY 2023 – 24, MNL recorded a turnover of INR 399 crores through its products sold in India through our portfolio of brands such as Oleev, Oleev Kitchen and PIPO foods. Our strong focus on quality, innovation, product differentiation and brand building has helped us stand out in a cluttered retail market, with Oleev becoming the No.1 “Goodness of Olive Oil” brand in India, with a fully backward-integrated portfolio of products. Over the last decade, MNL has developed a pan-India distribution network across all channels of FMCG, including the upcoming Q-Commerce, serving our consumers through all modes of online and offline retail across the country. We are a very proud Indian company, manufacturing and marketing world-class food products in India.
The company is poised to grow exponentially in the next few years with its three verticals namely a) consumer goods vertical, b) bulk edible oil and feeds vertical and c) ethanol manufacturing vertical. In line with the Ethanol Blended Petrol (EBP) program, Modi Naturals Limited has diversified into ethanol manufacturing, with a state-of-the art greenfield Ethanol Plant established in the state of Chhattisgarh under its wholly owned subsidiary Modi Biotech Pvt. Ltd.
Established in 1974 and headquartered in New Delhi, MNL is listed on the BSE. We operate 3 factories in India located at Pilibhit, Sonipat and Hyderabad with a fourth inaugurated in Chhattisgarh. The company has previously received awards for being the ‘Largest Processor of Rice Bran in India’ for several years.
