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Modi Naturals Limited (MNL) has announced the receipt of a ?300-crore order for 41,600 kiloliters (KL) of ethanol from oil manufacturing companies (OMCs). The order, secured through its wholly-owned subsidiary Modi Biotech Private Limited (MBPL), will be fulfilled in four phases during the Ethanol Sugar Year (ESY) 2024-25.
In addition to ethanol, the by-products generated during the production process will be sold separately, providing an additional revenue stream. This development aligns with the growing demand for biofuels in India, driven by the government’s emphasis on cleaner energy alternatives.
MNL Managing Director Akshay Modi expressed enthusiasm about the order, stating, “This significant increase in orders for Modi Naturals will be a game-changer for our financial performance. We are committed to the Prime Minister’s vision of biofuels and are actively working on increasing our production capacity and planning for Phase-II expansion to maximize output.”
Modi Biotech is focused on enhancing its production capabilities, investing in modern infrastructure and innovative technologies to ensure timely delivery and compliance with the stringent quality standards set by OMCs. The company aims to bolster its branded business division while leveraging the ethanol segment for future growth.
The long-term strategy of Modi Naturals is in line with the nation’s vision to reduce reliance on fossil fuels and minimize carbon emissions, positioning the company as a key player in the transition to renewable energy sources. |
