@Surender The overall demand for ethanol is much higher than the supply. They have purposely kept the contract for upto 50% because if there is a delay in supply their reputation is not impacted. Once the plant becomes operational (which it is now) the company will again apply for tender. Note that these tenders are on ongoing basis and just procedural in nature so the supply can start in 2 weeks time. Assam capacity is also going live by the end of the year. So I am confident that they will be able to grow their revenues.
The only concern here is the RM prices as it keeps flucutation. But with the recent decisions made by the govt I Dont think companies will be much impacted as govt will increase the rates if the RM prices goes up to ensure that they get steady supply.