Sanmit Infra Ltd board approves proposal for setting up Bio CNG Plant

Mumbai (Maharashtra): Sanmit Infra Ltd - leading company engaged in construction of real estate projects, supply of petroleum products and biomedical waste management is planning to set up Bio CNG plant under Sustainable Alternative towards Affordable Transportation scheme (SATAT). The board of director at the meeting has approved the proposal and company expect to start work on the same soon. The project is part of multiple expansion in the business operations which company is planning over the next 2-3 years.

The Board feels that, Bio CNG project will support to national commitments in achieving climate change goals and reduction in import of natural gas and crude oil and saving a lot of foreign exchange. It can also stand as a buffer against crude oil/gas price fluctuations in the international market making the country self-sufficient.

Highlights:-

• Bio CNG project will support national commitments in achieving climate change goals and reduction in import of natural gas and crude oil and saving a lot of foreign exchange
• Company intend to initiate bulk storage facilities for direct Bitumen imports from Gulf countries
• Company diversifying sales in the biomedical waste disinfection system across India.
• Company is planning to initiate an eco-friendly, less wood, or green cremation system 
• For H1FY24, company has reported sales of Rs. 52.5 crore with a Net Profit of Rs. 1.57 crore.

Govt of India has launched SATAT scheme in the year 2018 with the objective of setting up Compressed Biogas production plants, and make it available for market its commercial use for automotive which will reduce the pollution level substantially. It aims to boost the entrepreneurship, rural economy and employment. 

In the next 2-3 years company is planning multiple expansion including Bitumen expansion, diversify sales in the biomedical waste disinfection system across Indian and planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India.

For Q2FY24, company reported net profit of Rs. 1.05 crore on total income of Rs. 18.91 crore and EBITDA of Rs. 1.97 crore. EBITDA margin in Q2FY24 increased to 10.4% from 4.3% in Q2FY23. For H1FY24 Company reported net profit of Rs. 1.57 crore on total income of Rs. 52.47 crore with EBITDA of Rs. 3.22 crore. Promoter Group holding as on September 2023 stands at 72.33%. During FY23, the company has split the shares with a face value of Rs.10 in the financial year 2023 into a face value of Rs.1. For FY23, company has reported sales of Rs. 140 crore with a Net Profit of Rs. 5 crore.

Established in 1965, Sanmit Infra Ltd is engaged in the disposal of biomedical waste, the supply of petroleum products, and the construction of real estate projects. Company diversified into real estate in 1994 and successfully executed projects in Mumbai and other cities of Maharashtra with upcoming developments in Mahim, Karjat and Navi Mumbai. In petroleum, the company supplies products like bitumen, lubricants, light diesel, base oil. 

During the Covid pandemic, company ventured into dealing with microwave disinfection systems for hospital waste. Company has successfully piloted in various municipal and railway hospitals including Brihanmumbai Municipal Corporation (BMC), Pune Municipal Corporation (PMC) and is planning to expand biomedical waste disinfection system across India. Company's microwave disinfection system utilizing dual technology, combining ultraviolet radiation to efficiently destroy bacteria and viruses present in biomedical waste.

In the Bitumen segment, company plans to further expand and intend to initiate bulk storage facilities for direct Bitumen imports from Gulf countries. Company aim to purchase a minimum one-acre plot near JNPT Port, where Bitumen importation occurs. This move will facilitate the establishment of a decanting unit, allowing it to purchase Bitumen in drums and convert it into bulk Bitumen.

The company is also planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India. The GMS system upgrades the traditional open-air wood fire system, adhering to Hindu traditions. By replacing wood with "BAMBOO PELLETS," which have high calorific value and generate minimal ash, pollution levels will significantly decrease. This eco-friendly approach saves trees, forests, and reduces carbon credits, making a positive impact on the environment and society.