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TruAlt Bioenergy Results: Latest Quarterly Results & Analysis

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TruAlt Bioenergy Ltd. 04 Feb 2026 13:27 PM

Q3FY26 Quarterly Result Announced for TruAlt Bioenergy Ltd.

Sugar company TruAlt Bioenergy announced Q3FY26 results

  • Total Income: Rs 730.86 crore (Q3FY26), change 69.75% (QoQ) Rs 430.54 crore (Q3FY25).
  • EBITDA: Rs 134.00 crore (Q3FY26), change 7.54% (QoQ) Rs 124.60 crore (Q3FY25).
  • PBT: Rs 89.68 crore (Q3FY26), change 3.81% (QoQ) Rs 86.39 crore (Q3FY25).
  • PAT: Rs 69.19 crore (Q3FY26), change -7.98% (QoQ) Rs 75.19 crore (Q3FY25).

Vijay Nirani, Managing Director, TruAlt Bioenergy, said: Warm greetings! - I would like to thank our shareholders, partners and teams for their continued trust in TruAlt Bioenergy as we present our performance for Q3FY26.

Energy today is central to a nation’s economic strength and security. Recent global events have shown that dependence on external energy sources can rapidly translate into economic vulnerability, trade frictions, sanctions and widespread supply-chain disruptions. India’s own experience during periods of global energy volatility reinforces a clear lesson: long-term resilience lies in strengthening domestic energy capabilities. In this context, biofuels are not just a sustainable choice, but a practical and strategic pathway to securing the country’s energy future.

Ethanol: 2025 marked a significant national milestone, with India achieving its E20 target under the Ethanol Blended Petrol Programme, underscoring the scale and maturity of the country’s ethanol ecosystem. As the sector stands at the cusp of mandates beyond 20%, ethanol is increasingly being recognised not only as a blending solution but as a broader platform for value creation. Ongoing policy discussions around higher blending levels such as E27, potential ethanol blending in diesel, and the allocation of volumes for Sustainable Aviation Fuel point to a materially expanding demand landscape, reinforcing the long-term structural strength of the sector.

During the quarter, TruAlt Bioenergy completed a key phase of its operating consolidation, with the planned capital expenditure for grain-based integration now fully commissioned. The sugar crushing season in Karnataka commenced only from mid-November, resulting in approximately 58 effective operating days during Q3, during which four of the Company’s five ethanol plants were operational and achieved capacity utilisation of over 95% on operating days. Unit 5 received its Consent to Operate on December 17, 2025, following which all ethanol plants are now fully operational with a monthly revenue run rate of approximately Rs 350 to 400 crore in the ethanol segment. On a gross-quarter basis, overall utilisation stood at approximately 60%, while utilisation on operating days exceeded 95%. With the completion of the current capex programme, no further expansion or capacity addition is planned across the ethanol business, and the Company is now operating on a fully stabilised platform, positioned to support monthly ethanol production in the range of approximately 5.5 to 6 crore litres.

CBG: In the CBG segment, we have achieved operating efficiencies that meaningfully exceed industry benchmarks, translating into strong and sustained financial performance. For the nine months ended December 31, 2025, the CBG business recorded an EBITDA Margin of 63% and a PAT Margin of 43%, reflecting the depth and robustness of our operating model. Having moved decisively beyond the learning curve, our focus is now on disciplined scaling, with plans to develop 24 greenfield CBG units over the next two to three years through joint ventures with Sumitomo Corporation and Maharatna PSU Gas Authority of India Limited (GAIL), leveraging global expertise and national infrastructure. Policy momentum continues to provide a strong tailwind, with excise duty exemptions announced in the recent Union Budget 2026–27, along with pipeline infrastructure support, CBG–CNG synchronisation, and capital and market-linked incentives, materially improving project economics and long-term visibility. Our four new plants are being constructed an are scheduled to commission by July 2026.

SAF: In the Sustainable Aviation Fuel (SAF) segment, aviation is at a critical inflection point, with growing urgency to reduce carbon emissions. As recognised under the CORSIA framework, SAF represents the only scalable pathway to decarbonise aviation. India is well positioned to capitalise on this opportunity, supported by a strong ethanol infrastructure, feedstock availability and technological readiness. Against this backdrop, we have progressed with a technology licensing agreement with Honeywell UOP, with engineering design underway for a proposed 100 million litres per annum SAF facility in Andhra Pradesh, while also advancing discussions with Sumitomo Corporation for potential equity participation. We are at an advanced stage of approvals and are positive about receiving Rs 150 crore of viability gap funding under the PM JI-VAN scheme, strengthening project viability and positioning us ahead of the emerging SAF market.

RETAIL: In biofuel retail network segment, we received our oil marketing company licence and commissioned seven outlets within six months, with four additional stations underway and visibility to scale approximately 75 outlets in FY27, aligned to be future ready with the expected adoption of flex-fuel in India.

As we move forward, our focus remains clear: to deliver consistent financial performance, to invest with discipline and purpose, and to create enduring value for shareholders while contributing meaningfully to India’s energy security and transition goals.

Result PDF

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