Accordingly, the revised capacity of Grain Based Distillery at Kashipur (Uttarakhand) plant is 400 KLPD and is fully commissioned.

In August 2023, the board of India Glycols had approved a proposal to enhance the capacity of grain-based distillery at its Kashipur (Uttarakhand) plant from 300 KLPD to 500 KLPD, i.e., by 200 KLPD, in phases. The first 100 KLPD capacity would be added by Q3 of FY24 and the remaining 100 KLPD would be installed by Q4 of FY24.

The proposed investment required for this was Rs 160 crore, to be funded from internal accruals and bank financing.

The company had cited “increase in demand of ethanol and captive requirements” as the rationale for increasing its Grain Based Distillery capacity.

India Glycols (IGL) manufactures green technology-based bulk, specialty and performance chemicals and natural gums, spirits, industrial gases, sugar and nutraceuticals. IGL operates under three broad segments: bio-based specialities & performance chemicals (BSPC), potable spirits (PS) and ennature biopharma (EB).

The company's consolidated net profit jumped 52% to Rs 38.01 crore on 15.7% increase in net sales to Rs 774.60 crore in Q2 FY24 over Q2 FY23.

The scrip shed 0.58% to currently trade at Rs 750.80 on the BSE.