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Modi Naturals (MNL) has received a ₹300-crore order for 41,600 kilo litres (KL) of ethanol from OMCs (oil manufacturing companies).
The company secured the order through its wholly-owned subsidiary Modi Biotech Private (MBPL), it said on Monday.
The 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 revenue. The ethanol is to be supplied in ESY 2024-25.
The demand for biofuels continues to grow across the country, in line with the Centre’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.
MNL Managing Director Akshay Modi said: “This significant increase of orders for Modi Naturals will be a game-changer for our financial performance. We are committed to the PM’s Vision of Biofuels and are working on increasing our production capacity and for Phase-II expansion to maximise our 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 moving ahead with its expansion plans, with efforts underway to boost production capacity. The company is committed to investing in modern 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.
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