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Godavari Biorefineries Results: Latest Quarterly Results & Analysis

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Godavari Biorefineries Ltd. 25 May 2026 11:48 AM
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Q4FY26 & FY26 Result Announced for Godavari Biorefineries Ltd.

Specialty Chemicals company Godavari Biorefineries announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations:
    • For Q4FY26, the revenue stood at Rs 56,410.30 lakh, showing a growth of 22.67% compared to Rs 45,985.25 lakh in Q3FY26 (QoQ) and a decline of 2.66% compared to Rs 57,950.45 lakh in Q4FY25 (YoY).
    • For the full year FY26, the revenue increased to Rs 1,98,794.26 lakh compared to Rs 1,87,025.12 lakh in FY25.
  • Total Income:
    • For Q4FY26, total income was Rs 57,000.07 lakh, up 23.40% from Rs 46,190.85 lakh in Q3FY26 (QoQ) and down 3.19% from Rs 58,875.84 lakh in Q4FY25 (YoY).
    • For the full year FY26, total income reached Rs 2,00,015.34 lakh compared to Rs 1,88,691.38 lakh in FY25.
  • Profit / (Loss) After Tax:
    • For Q4FY26, the profit after tax was Rs 5,288.48 lakh, representing a significant increase of 540.85% from Rs 825.24 lakh in Q3FY26 (QoQ) and a decrease of 26.47% from Rs 7,192.77 lakh in Q4FY25 (YoY).
    • For the full year FY26, the company reported a profit of Rs 352.80 lakh, compared to a loss of Rs 2,341.44 lakh in FY25.
  • Earnings Per Share (EPS):
    • Basic and Diluted EPS for Q4FY26 stood at Rs 10.33, compared to Rs 1.61 in Q3FY26 and Rs 14.05 in Q4FY25.
    • For the full year FY26, EPS was Rs 0.69 compared to a negative Rs 5.11 in FY25.

Standalone Financial Highlights:

  • Revenue from Operations:
    • For Q4FY26, revenue was Rs 56,210.57 lakh, an increase of 23.03% from Rs 45,688.15 lakh in Q3FY26 (QoQ) and a marginal decline of 2.36% from Rs 57,569.85 lakh in Q4FY25 (YoY).
    • For the full year FY26, revenue stood at Rs 1,96,492.02 lakh compared to Rs 1,85,316.64 lakh in FY25.
  • Total Income:
    • For Q4FY26, total income was Rs 56,786.14 lakh, up 23.80% from Rs 45,868.96 lakh in Q3FY26 (QoQ) and down 2.95% from Rs 58,511.31 lakh in Q4FY25 (YoY).
    • For the full year FY26, total income was Rs 1,97,638.50 lakh compared to Rs 1,86,920.56 lakh in FY25.
  • Profit / (Loss) After Tax:
    • For Q4FY26, profit after tax was Rs 5,241.13 lakh, up 547.41% from Rs 809.58 lakh in Q3FY26 (QoQ) and down 25.21% from Rs 7,008.00 lakh in Q4FY25 (YoY).
    • For the full year FY26, the standalone profit was Rs 123.62 lakh compared to a loss of Rs 2,715.95 lakh in FY25.

Business Highlights

  • Segment Performance (Consolidated Full Year FY26):
    • Sugar: Reported total revenue of Rs 1,27,945.04 lakh with a segment result (PBIT) of Rs 4,969.47 lakh.
    • Cogeneration: Reported total revenue of Rs 16,028.08 lakh and a segment loss of Rs 350.68 lakh.
    • Bio based Chemicals: Reported total revenue of Rs 57,798.89 lakh with a segment result of Rs 3,632.15 lakh.
    • Distillery: Reported total revenue of Rs 66,364.97 lakh with a segment result of Rs 947.22 lakh.
  • Operational Achievements:
    • Achieved the highest-ever cane crushing performance of 25.18 lakh MT during the 2025-26 season.
    • The 2024-25 season achieved a record crushing of 24.65 lakh MT.
  • Exceptional Items:
    • The company recognized a one-time exceptional expense of Rs 448.22 lakh related to the implementation of the New Labour Codes and their impact on Gratuity and Leave Encashment.
    • Recognized an exceptional expense of Rs 2,665.59 lakh for additional harvest charges related to the 2023-2024 sugar season to remain competitive with neighboring mills.
  • Leadership and Governance:
    • Approved the re-appointment of Mr Samir S. Somaiya as Managing Director for three years w.e.f. April 1, 2027.
    • Approved the re-appointment of Dr Sangeeta Srivastava as Executive Director for three years w.e.f. August 1, 2026.
    • Approved the re-appointment of Mr Nitin Mehta as Independent Director for a second term of five years w.e.f. July 1, 2026.
    • Approved the appointment of Mr Dinesh Sharma as Whole Time Director (designated as Executive Director and KMP) for three years.
    • Appointed M/s R. Nanabhoy & Co, Cost Accountants, as Cost Auditor for the FY27.

Commenting on the Results, Shri Samir Somaiya, CMD, said, “Q4FY26 was marked by a challenging operating environment for the sugar and ethanol industry, with elevated cane and feedstock costs impacting overall sector profitability. Against this backdrop, our integrated business model, operational discipline and diversified portfolio enabled us to deliver a resilient performance during the quarter while continuing to strengthen our long-term growth platforms.

During the 2025-26 crushing season, we achieved our highest-ever cane crushing of 2.5 million tonnes. The Sugar business witnessed improved operational performance during the quarter, supported by higher crushing volumes, improved recovery trends and strong execution in exports. Our continued focus on operational efficiencies helped support segment performance despite the broader industry challenges.

The sugar & ethanol segment continued to operate in a relatively compressed margin environment due to feedstock economics and pricing dynamics. However, the long-term outlook for the industry remains positive supported by the Government’s ethanol blending programme and stable policy direction.The 

Bio-based Chemicals segment recorded meaningful contributions from specialty chemicals, with ethyl acetate realizations remained favorable, though emerging geopolitical disruptions impacted operating margins. We remain focused on increasing the share of higher-margin specialty products and improving capacity utilization across the portfolio.

During the quarter, we further strengthened our innovation portfolio with the grant of a Japanese patent related to antiviral therapeutics, reinforcing our R&D capabilities. We are also encouraged by the continued momentum in our consumer business, with Jivana revenues crossing Rs 129 crore in FY26 compared to Rs 108 crore in FY25. The growing scale of our retail platform reflects increasing consumer acceptance and supports our strategy of building a more diversified and resilient business model alongside our industrial businesses.

Looking ahead, we remain focused on scaling our bio-based chemicals and ethanol businesses through debottlenecking, capacity optimization and diversification of feedstock for ethanol production, capitalizing on the Government’s efforts to move beyond E20. In parallel, we continue to expand our high-value bio-based chemicals portfolio by leveraging our integrated R&D and manufacturing capabilities. Continued investments in technology, process efficiencies and sustainability-led initiatives remain central to our strategy, supporting long-term value creation.”

Result PDF

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Specialty Chemicals company Godavari Biorefineries announced Q3FY26 results

  • Total Income: Rs 461.9 crore against Rs 450.8 crore during Q3FY25, change 2%.
  • EBITDA: Rs 45.1 crore against Rs 39.7 crore during Q3FY25, change 14%.
  • EBITDA Margin: 9.8% for Q3FY26.
  • PBT: Rs 21.4 crore against Rs 8.5 crore during Q3FY25, change 152%.
  • PBT Margin: 4.6% for Q3FY26.

Shri Samir Somaiya, CMD said: “Q3FY26 marked a quarter of significantly improved profitability, driven by operating leverage and disciplined execution. EBITDA grew approximately 14% YoY to Rs 45.1 crore, while PBT before exceptional items surged 152% YoY to Rs 21.4 crore. Our margins also expanded meaningfully as we focus more on high-margin segments, reinforcing the company’s strategic direction.

Finance costs for the quarter declined by 46% YoY, in line with our strategy to improve cash flows to fuel growth. The Bio-based Chemicals segment continued to support profitability, with specialty chemicals contributing 62% of the basket in 9MFY26, and we expect this share to rise further as we scale high-value offerings.

A key highlight during the period was the grant of a U.S. patent for our novel anti-cancer molecule targeting triple-negative breast cancer, underscoring the strength of our R&D capabilities and commitment to innovation-led growth. In parallel, our DME-to-CO? technology initiative is progressing well, with pilot plant activities underway.

We recently collaborated with Synthomer, to develop bio-based alternatives to fossil-based monomers. Through this collaboration, Synthomer is commercialising bio-based butyl acrylate using GBL’s bio-based butanol, accelerating the industry’s transition to sustainable raw materials and reflecting our continued focus on sustainability, green chemistry, and next-generation energy solutions.

We are also encouraged by strong traction in our consumer segment, with our Jivana brand crossing the Rs 100 crore revenue milestone in the first nine months of FY26, reinforcing our strategy to scale the retail platform alongside our industrial businesses. Our fungible grain-based ethanol capacity will be commissioned in Q1FY27, positioning us to benefit from the restoration of the ethanol blending program and incremental demand from maize-based capacities.

These initiatives, along with ongoing debottlenecking and investments in technology, are strengthening our ability to manage seasonality while improving efficiency. Overall, our continued focus on high-potential bio-based specialty chemicals, capacity optimization, and sustainability-led innovation positions us well to drive long-term growth and value creation.”

Result PDF

Specialty Chemicals company Godavari Biorefineries announced Q2FY26 results

  • Total Income: Rs 434.3 crore against Rs 322.1 crore during Q2FY25.
  • EBITDA: Rs -4.4 crore against Rs -31.5 crore during Q2FY25.
  • EBITDA Margin: -1.0% for Q2FY26.
  • PBT: Rs -56.9 crore against Rs -64.1 crore during Q2FY25.
  • PAT: Rs -41.6 crore against Rs -75.0 crore during Q2FY25.
  • PAT Margin: -9.6% for Q2FY26.

Shri Samir Somaiya, CMD, said: ““Q2FY26 has shown early signs of recovery for the company. We achieved 34% growth in revenue from operations, and significantly narrowed EBITDA losses to Rs 4.4 crore, down from Rs 31.5 crore in the same quarter last year. Segment performance continues to validate our direction. Bio-based chemicals segment delivered 60% EBITDA growth, while Ethanol segment EBITDA turned positive at Rs 4.7 crore, compared to a loss of Rs 2.9 crore last year. This improvement reflects the impact of our strategic focus on bio-based specialty chemicals and the restoration of the Ethanol Blending Programme.

As part of our progress in drug discovery ,the Clinical Study Report of our novel anti-cancer molecule reflecting the successful conclusion of our safety trials has been received. This will now enable us to prepare the application for the next phase of drug discovery – preliminary efficacy trials.

Also, a European patent application titled “COMPOUNDS FOR THE INHIBITION OF UNREGULATED CELL GROWTH” has been granted for processing under our Anti-Cancer Research segment, strengthening our pipeline in advanced therapeutics.

Our 200 KLPD fungible grain/maize distillery is targeted for commissioning in Q4FY26. This facility will enable us to capitalise on diversified feedstock, particularly as grain/maize based ethanol gain traction, thereby enhancing feedstock flexibility and margin resilience.

In a major step toward sustainability, Godavari Biorefineries, in collaboration with ICT Mumbai, has launched a pilot CO?-to-DME project. This is a revolutionary breakthrough technology in climate action. This revolutionary technology converts industrial CO2 emissions directly into Dimethyl Ether (DME) — a low-emission, eco-friendly energy carrier. Dimethyl ether (DME) is a clean-burning fuel that can effectively replace conventional energy sources such as liquefied petroleum gas (LPG) and diesel, contributing to reduced emissions, improved environmental performance and decarbonisation. The initiative reflects our commitment to clean energy and offering sustainable solutions.

We are progressing as planned. Our efforts to mitigate seasonality risks are visible in the increased focus on high-potential bio-based specialty chemicals, ongoing debottlenecking, and strategic investments in multi-feedstock ethanol capacity. On the R&D front, we continue to drive long-term growth through scientific innovation and sustainability-led solutions. With these initiatives, we remain confident in our ability to create sustainable value for all stakeholders.”

Result PDF

Specialty Chemicals company Godavari Biorefineries announced Q1FY26 results

  • Total Income: Rs 534.0 crore compared to Rs 525.3 crore during Q1FY25.
  • EBITDA: Rs 6.5 crore compared to Rs -9.5 crore during Q1FY25.
  • EBITDA Margin: 1.2% for Q1FY26.
  • PBT: Rs -22.3 crore compared to Rs -41.6 crore during Q1FY25.
  • PAT: Rs -16.0 crore compared to Rs -26.1 crore during Q1FY25.
  • PAT Margin: -3.0% for Q1FY26.

Shri Samir Somaiya, CMD said: “Q1FY26 has been a quarter of resilience and progress for our Company. Despite the seasonality inherent in some of our segments, we delivered an improved performance with revenue from operations at Rs 533.2 crore, an improvement over the same quarter last year, and achieved an EBITDA of Rs 6.5 crore. Our BioBased Chemicals segment recorded a strong 43% YoY growth in EBITDA.

On the ethanol front, from Sugar Season 2024-25 the restoration of the Ethanol Blending Program from Juice/Syrup helped us to produce more Ethanol from B heavy molasses. Our upcoming grain-based ethanol capacity will add a new growth lever.

We are also proud to share significant progress in our Drug Discovery efforts. European patent for our novel anti-cancer molecule has been validated in Spain, the United Kingdom, and as a Unitary Patent covering multiple EU member states. Safety trials for the same molecule have been concluded without any dose limiting toxicity (DLT).

Additionally, we have been granted a patent by the China National Intellectual Property Administration (CNIPA) for another novel anti-cancer molecule – HYDROXY-1,4-NAPHTHALENEDIONE. This patent covers a new class of compounds that have demonstrated strong inhibitory effects on cancer and cancer stem cells in vitro. These compounds have shown significant efficacy against multiple cancer types, including breast and prostate cancer.

Looking ahead, our strategic focus remains on strengthening the bio-based chemicals segment through ongoing debottlenecking and the development of Bio-based specialty chemicals. In parallel, we are enhancing our multi-feedstock ethanol capabilities and investing in continuous research and development to drive long-term growth and innovation. With these initiatives, we remain confident of creating sustainable value for all stakeholders.”

Result PDF

Specialty Chemicals company Godavari Biorefineries announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from Operations stood at Rs 579.5 crore as against Rs 615.2 crore, a decrease of 5.79% YoY.
  • EBITDA* stood at Rs 121.7 crore as against Rs 124.4 crore, a decrease of 2.17% YoY.
  • EBITDA Margins stood at 21.0% as against 20.2%, a growth of 0.8 percentage points YoY.
  • PAT (excl. one time impact of Deferred Tax) stood at Rs 96.4 crore as against Rs 65.2 crore, a growth of 47.85% YoY.
  • PAT Margins stood at 16.6% as against 10.6%, a growth of 6.0 percentage points YoY.

FY25 Financial Highlights:

  • Revenue from Operations stood at Rs 1,870.3 crore as against Rs 1,686.7 crore, a growth of 10.89% YoY.
  • EBITDA* stood at Rs 120.3 crore as against Rs 147.9 crore, a decrease of 18.79% YoY.
  • EBITDA Margins stood at 6.4% as against 8.8%, a decrease of 2.4 percentage points YoY.
  • PAT (excl. one time impact of Deferred Tax) stood at Rs 1.1 crore as against Rs 12.3 crore, a decrease of 91.06% YoY.
  • PAT Margins stood at 0.1% as against 0.7%, a decrease of 0.6 percentage points YoY.

Commenting on the Results, Shri Samir Somaiya, CMD said, “FY25 was a defining year for Godavari Biorefineries, showcasing our agility, disciplined execution, and strategic progress. Our Bio-based Chemicals segment delivered over 2x growth in EBITDA, propelled by our shift toward high-value, sustainable solutions and enhanced operational efficiencies.

We also achieved a record cane crushing of 24.65 lakh tonnes for sugar season 2024-25 at our Sameerwadi facility. The restoration of the ethanol blending programme using sugarcane juice enabled us to better utilize our ethanol capacity during the crushing season

Looking ahead, our 200 KLPD grain/maize distillery is progressing as planned and is expected to be commissioned in Q4FY26. We are also exploring multi-feedstock options for greater flexibility, while undertaking debottlenecking and expansion initiatives focused on specialty products.

FY25 has laid a solid foundation for future growth, and we remain committed to delivering value through innovation, sustainability, and disciplined growth.”

Result PDF

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