Modi Naturals (MNL) has secured a ₹300-crore order for 41,600 kilolitres (KL) of ethanol from oil manufacturing companies (OMCs).
The order was obtained through its wholly-owned subsidiary, Modi Biotech Private Limited (MBPL), as announced on Monday.
The ethanol will be supplied in four phases during the Ethanol Sugar Year (ESY), which runs from November to October. Alongside the ethanol, by-products generated from the process will be sold separately, providing additional revenue. The ethanol is scheduled for supply in the ESY 2024-25.
MNL Managing Director Akshay Modi stated, “This significant increase in orders for Modi Naturals will be a game-changer for our financial performance. We are dedicated to the Prime Minister’s Vision of Biofuels and are actively working to expand our production capacity and Phase-II expansion to maximize output. This year, our immediate goal is to enhance our robust branded business division, and we are confident that the ethanol segment will be a key driver of future growth and success.”
Modi Biotech is advancing its expansion plans, with initiatives in place to enhance production capacity. The company is committed to investing in modern infrastructure and innovative technology to ensure timely delivery while meeting the strict quality standards set by OMCs.
MNL’s long-term strategy aligns with the nation’s goal of reducing reliance on fossil fuels and lowering carbon emissions, and the company is dedicated to playing a crucial role in this transition.
