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). This significant milestone marks a new chapter in Modi Biotech’s growth journey, with a positive impact on the company’s balance sheet and its ability to further its mission of providing sustainable energy solutions. This order will be fulfilled as per the ESY (Ethanol Sugar Year- follows the November to October period) in four phases. Along with ethanol, by-products generated will be sold separately generating additional revenues.
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 order received, Mr Akshay Modi, Managing Director of Modi Naturals Ltd., said,
“We are extremely happy with the progress achieved so far since the commissioning of plant last year, receiving an order of Rs.300 Cr 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.
Modi Naturals long-term strategy is aligned with the nation’s vision of reducing dependency on fossil fuels and lowering carbon emissions, and the company is committed to playing a pivotal role in this transformation.
