India Glycols share price rises 8% post distillery, ethanol capacity expansions, inches close to 1-year high

Stock Market Today: India Glycols Ltd share price surged over 8% in the morning trade on Tuesday after the company announced the expansion of grain-based distillery and bio-fuel ethanol capacities.

India Glycols Ltd share price opened at ₹1259.95 on the BSE, almost 2.6% higher than its previous close of ₹1227.85. India Glycols Ltd share price thereafter went on to gain further to ₹1330, marking a gain of more than 8%.

India Glycols Ltd share price with today's gains inched close to its one-year or 52-week high of ₹1399.75.

Expansion Updates

India Glycols announced the capacity expansion of grain-based distillery and bio-fuel ethanol at Gorakhpur (Uttar Pradesh) and Kashipur (Uttarakhand) plants. It also announced the expansion of facilities/projects for new value-added chemical products at Kashipur.

India Glycols successfully added a further capacity of 100 KLPD (kilo litre per day) to the existing grain-based distillery at Kashipur (Uttarakhand), the company said in a filing. The revised enhanced capacity of Grain Based Distillery at Kashipur is 500 KLPD and is commissioned, the release added.

India Glycols announced adding 180 KLPD to the existing bio-fuel ethanol plant (ethanol to bio-fuel conversion) at Kashipur. With this, the revised enhanced capacity of bio-fuel ethanol plant at Kashipur is 590 KLPD and is commissioned, the company informed bourses.

India Glycols also announced adding 2,500 MT per year to the facilities/projects for new value-added chemical products at Kashipur. With this, the revised enhanced capacity of facilities/projects is 7,500 MT/year (depending upon the product mix) and is commissioned, it added.

Future expansions in progress

India Glycols said that the remaining facilities/projects are expected to be commissioned by Q1/FY 26.

The work for enhancement of grain-based distillery capacity by 180 KLPD and the bio-fuel ethanol plant (ethanol to bio-fuel conversion) by 90 KLPD at Gorakhpur (Uttar Pradesh) is in progress and the same is expected to be commissioned by Q4/FY25.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.