Date: November 04, 2026

Financial Performance Overview

Godavari Biorefineries Limited reported its unaudited consolidated financial results for Q2 FY27 (quarter ended September 30, 2026) and H1 FY27 (half year ended September 30, 2026).

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Total Revenue: Rs. 549.8 Cr, representing 26.6% year-on-year growth from Rs. 434.3 Cr in Q2 FY26
  • EBITDA: Rs. 10.9 Cr (includes Other Income), a significant improvement from negative EBITDA of Rs. (4.4) Cr in Q2 FY26
  • EBITDA Margin: 2.0% compared to (1.0)% in Q2 FY26
  • PAT: Rs. (15.2) Cr, improved from Rs. (41.6) Cr in Q2 FY26
  • PAT Margin: (2.8)% compared to (9.6)% in Q2 FY26

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Total Revenue: Rs. 1109.7 Cr compared to Rs. 968.2 Cr in H1 FY26
  • EBITDA: Rs. 13.4 Cr compared to Rs. 2.1 Cr in H1 FY26
  • EBITDA Margin: 1.2% compared to 0.2% in H1 FY26
  • PAT: Rs. (34.6) Cr compared to Rs. (57.6) Cr in H1 FY26
  • PAT Margin: (3.1)% compared to (5.9)% in H1 FY26

Sequential Performance (Q2 FY27 vs Q1 FY27)

  • Total Revenue: Rs. 549.8 Cr in Q2 vs Rs. 559.9 Cr in Q1 FY27
  • EBITDA: Rs. 10.9 Cr in Q2 vs Rs. 2.6 Cr in Q1 FY27
  • EBITDA Margin: 2.0% in Q2 vs 0.5% in Q1 FY27
  • PAT: Rs. (15.2) Cr in Q2 vs Rs. (19.3) Cr in Q1 FY27
  • PAT Margin: (2.8)% in Q2 vs (3.5)% in Q1 FY27

Segment-wise Performance

Bio-Based Chemicals Segment

| Period | Revenue (Rs. Cr) | EBITDA (Rs. Cr) | EBITDA Margin |

| Q2 FY27 | 204.2 | 22.1 | 10.8% |

| Q2 FY26 | 147.1 | 15.0 | 10.2% |

| Q1 FY27 | 168.7 | 19.2 | 11.4% |

| H1 FY27 | 372.9 | 41.2 | 11.1% |

| H1 FY26 | 288.3 | 27.6 | 9.6% |

  • Q2 FY27 revenue grew approximately 39% YoY from Q2 FY26
  • Q2 FY27 EBITDA grew approximately 47% YoY from Q2 FY26

Integrated Sugar, Co-gen & Ethanol Segment

| Period | Revenue (Rs. Cr) | EBITDA (Rs. Cr) | EBITDA Margin |

| Q2 FY27 | 334.2 | (8.7) | (2.6)% |

| Q2 FY26 | 275.7 | (18.4) | (6.7)% |

| Q1 FY27 | 377.9 | (14.6) | (3.9)% |

| H1 FY27 | 712.1 | (23.3) | (3.3)% |

| H1 FY26 | 658.6 | (22.7) | (3.4)% |

Management Commentary

Shri Samir Somaiya, CMD, provided the following insights:

Performance Drivers:

  • Strong growth in Bio-based Chemicals business with approximately 39% YoY revenue growth and 47% YoY EBITDA growth
  • Operational efficiencies, portfolio diversification, and disciplined execution strengthened business fundamentals
  • Debottlenecking initiatives translated into stronger commercial performance and improved profitability

Challenges Faced:

  • Continued challenges in sugar and ethanol industry due to weather-related uncertainties
  • Sugarcane availability constraints and rising feedstock costs
  • Recent policy restrictions on diversion of sugarcane juice and B-heavy molasses towards ethanol

Strategic Initiatives:

  • Expanded grain-based distillery capacity provides greater flexibility to optimize operations
  • Pursuing capacity optimization, process improvements, and product development
  • Focus on capturing opportunities across domestic and international markets

Innovation & Recognition:

  • Secured US patent for novel anti-cancer molecule
  • European patents for anti-cancer pharmaceutical compositions and bio-based rubber reinforcement technology
  • Patents granted in China and Mexico for antiviral compounds
  • Received Manufacturing Process Innovator of the Year Award at FICCI Chemicals and Petrochemicals Awards 2026

Forward Outlook:

  • Priorities include scaling Bio-based Chemicals portfolio
  • Strengthening ethanol business in line with India's Biofuel Programme
  • Improving operating efficiencies and enhancing feedstock flexibility
  • Continued investments in debottlenecking, differentiated technologies, and product innovation
  • Focus on portfolio diversification, operational resilience, and sustainable long-term growth

Company Background

Godavari Biorefineries Ltd is described as one of the largest integrated biorefineries, producers of ethanol, and a pioneer in manufacturing bio-based specialty chemicals in India. The company's diversified product portfolio comprises bio-based chemicals, sugar, rectified spirits, ethanol, other grades of alcohol, and power. It claims to be the only company in India with such a vast portfolio of bio-based products.

Investor Relations Contacts

Company Representatives:

  • Mr. Ashish Sinha - AGM IR & Finance

MUFG Intime India Pvt. Ltd.:

  • Ms. Prachi Ambre / Mr. Irfan Raeen

Company CIN: L67120MH1956PLC009707