Kotyark Industries Limited announced receipt of a "Letter of Intent" against the tenders for procurement of Biodiesel filed by the Company. The Company filed for a joint tender of 3 Oil Marketing Companies "OMCs", against which they have received Letter of Intent from one of the OMCs i.e., Indian Oil Corporation Limited. The key details of the Letter of Intent are as follows: State: Gujarat.

Location: Vadodora/Dumad. Qty (KL): 317.49. Basic rate: INR 106,860 per KL.

Landed cost: INR 112,379.40 per KL. Total Delivered cost: INR 35.7 million.