India Glycols Receives Ethanol Supply Contract Worth Rs 1,264.20 Crore From OMCs

India Glycols Ltd. has been awarded to supply 18.06 crore liters of ethanol for Rs 1,264.20 crore under the ethanol blended petrol programme.

The company received 17.53 crore liters of ethanol supply order for Rs 1227.10 crore from oil marketing companies including Bharat Petroleum Corp., Indian Oil Corp. and Hindustan Petroleum Corp.

Additionally, it mopped 1227.10 crore liters of ethanol supply contract for Rs 37.10 crore from oil companies comprising of Reliance Industries Ltd. and Nayara Energy Ltd.

Earlier in December, India Glycols bagged orders worth Rs 1,164 crore for supply of ethanol under the Ethanol Blended Petrol Programme.

It received orders worth Rs 896 crore from Bharat Petroleum Corporation Ltd., Indian Oil Corporation Ltd. and Hindustan Petroleum Corporation Ltd.

The remaining order of Rs 268 crore was from Reliance Industries Ltd. and Nayara Energy Ltd.

India Glycols net profit surged to Rs 56.81 crore, representing a 26% rise for the third quarter of the current fiscal 2025 as compared to Rs 41.63 crore for the same period last year.

Its green chemical company's revenue rose by 14.4% to Rs 975.20 crore for the October-December quarter as against Rs 904.22 crore for the year-ago period.

Its earnings before interest, tax, depreciation and amortisation soared to Rs 123.66 crore, denoting a 21% jump for the quarter ended December from Rs 102.26 crore for the same quarter of the corresponding year.

Margins expanded from 11.3% to 12.7% for the quarter that was under review.

Shares of India Glycols closed 7.62% higher at Rs 1,158.50 apiece on the NSE, compared to a 0.05% fall in the benchmark Nifty 50. The stock has risen by 32.54% in the last 12 months.

Both the analysts tracking the company suggest 'buy,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 69.3%.