India Glycols Secures Ethanol Supply Contract Worth Rs 1,264.20 Crore
India Glycols Ltd. has been awarded a significant contract to supply 18.06 crore liters of ethanol for Rs 1,264.20 crore under the Ethanol Blended Petrol (EBP) programme.
The company received an order for 17.53 crore liters of ethanol, valued at Rs 1227.10 crore, from major oil marketing companies including Bharat Petroleum Corp., Indian Oil Corp., and Hindustan Petroleum Corp.
In addition to this, India Glycols secured a further ethanol supply contract for 1227.10 crore liters worth Rs 37.10 crore from private oil companies, comprising Reliance Industries Ltd. and Nayara Energy Ltd.
Previous Orders
Earlier in December, India Glycols had already bagged orders worth Rs 1,164 crore for the supply of ethanol under the EBP programme. This included orders worth Rs 896 crore from Bharat Petroleum Corporation Ltd., Indian Oil Corporation Ltd., and Hindustan Petroleum Corporation Ltd., along with a remaining order of Rs 268 crore from Reliance Industries Ltd. and Nayara Energy Ltd.
India Glycols Q3 Performance
India Glycols has also demonstrated strong financial performance in the third quarter of the current fiscal year 2025:
- Net profit surged by 26% to Rs 56.81 crore, compared to Rs 41.63 crore in the same period last year.
- Revenue rose by 14.4% to Rs 975.20 crore, compared to Rs 904.22 crore in the year-ago period.
- Earnings before interest, tax, depreciation, and amortisation (EBITDA) soared by 21% to Rs 123.66 crore.
- Margins expanded from 11.3% to 12.7%.
Stock Performance
Shares of India Glycols closed 7.62% higher at Rs 1,158.50 apiece on the NSE on Wednesday, compared to a 0.05% fall in the benchmark Nifty 50. The stock has risen by 32.54% in the last 12 months.
Analyst Ratings
Analysts tracking India Glycols suggest a 'buy' rating. The average 12-month analysts' price target implies a potential upside of 69.3%.
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