TruAlt Bioenergy Limited – Investor Presentation Summary

Key Operational Highlights

  • Installed ethanol production capacity of 2,000 KLPD across five manufacturing units
  • 1,300 KLPD (65% of total capacity) with dual-feed capability enabling both sugar-based and grain-based production
  • 7 operational fuel retail outlets with 4 additional outlets under construction
  • Jamkhandi plant operational; Mudhol, Keralmatti and Badami plants expected operational by end Q3 FY27; Daund plant by Q4 FY27
  • Land jointly identified with GAIL for six additional CBG units

Segment-wise Performance

Ethanol Segment (H1 FY27):

  • Revenue: ₹1,438.75 Cr, up 235% YoY
  • EBITDA: ₹225.58 Cr, up 898% YoY
  • EBITDA Margin: 15.98% vs 5.76% in H1 FY26
  • PAT: ₹89.32 Cr vs loss of ₹43.22 Cr in H1 FY26

CBG Segment (H1 FY27):

  • Revenue: ₹20.07 Cr, down 3% YoY
  • EBITDA: ₹9.00 Cr, up 307% YoY
  • EBITDA Margin: 45.31% vs 68.29% in H1 FY26
  • PAT: ₹5.50 Cr, down 43% YoY

Retail Fuel Segment (H1 FY27):

  • Revenue: ₹6.80 Cr, up 16% YoY
  • PBT/PAT: ₹0.10 Cr, down 80% YoY
  • PBT/PAT Margin: 1.47% vs 8.52% in H1 FY26

Financial Highlights

Consolidated H1 FY27:

  • Total Income: ₹1,465.14 Cr, up 221% YoY
  • EBITDA: ₹233.92 Cr, up 532% YoY
  • EBITDA Margin: 16.27% vs 8.83% in H1 FY26
  • PAT: ₹94.27 Cr, up 383% YoY

Consolidated Q2 FY27:

  • Total Income: ₹823.74 Cr, up 536% QoQ
  • EBITDA: ₹101.16 Cr, up 2324% QoQ
  • EBITDA Margin: 12.47% vs -3.96% in Q2 FY26
  • PAT: ₹34.99 Cr vs loss of ₹37.99 Cr in Q2 FY26

Standalone H1 FY27:

  • Revenue from operations: ₹1,418.53 Cr, up 256% YoY
  • Total Income: ₹1,445.55 Cr, up 232% YoY
  • EBITDA: ₹225.68 Cr, up 877% YoY
  • EBITDA Margin: 15.91% vs 5.80% in H1 FY26
  • Profit Before Tax: ₹119.35 Cr vs loss of ₹55.34 Cr in H1 FY26

Consolidated Revenue Mix - H1 FY27

  • Ethanol: ₹1,262.64 Cr (89.4% of total)
  • ENA: ₹42.21 Cr (3.0% of total)
  • CBG: ₹19.86 Cr (1.4% of total)
  • Retail Fuel: ₹6.80 Cr (0.5% of total)
  • Others: ₹80.25 Cr (5.7% of total)
  • Total: ₹1,411.76 Cr

Balance Sheet Snapshot

Not Specified

Capex & Cash Flow Health

  • ₹180 crore committed across three CBG locations with NABARD financing
  • ₹60 crore equity commitment for three CBG locations
  • Phase I CBG expansion: ₹340 crore total outlay (₹85 crore per unit)
  • ₹150 crore grant sanctioned under PM JI-VAN Yojana for SAF project

Strategic & R&D Initiatives

CBG Expansion:

  • 162.2 TPD total planned capacity across 11 units
  • Partnerships with Sumitomo Corporation (4 plants) and GAIL (6 plants)
  • Mudhol plant: 95% civil, 90% mechanical complete, commissioning Nov 2026
  • Kedarnath plant: 90% civil, 80% mechanical complete, commissioning Dec 2026
  • Badami plant: 90% civil, 65% mechanical complete, commissioning Dec 2026

Sustainable Aviation Fuel:

  • Proposed 100 million litres per annum facility in Srikakulam, Andhra Pradesh
  • Technology collaboration with Honeywell UOP
  • Expected 70% lower lifecycle carbon intensity than conventional aviation fuel

Industry Trends & Business Environment

  • India imports 88.5% of crude oil requirements
  • Ethanol blending achieved 20% target five years ahead of schedule
  • CBG obligation: 3% in FY27, 4% in FY28, 5% from FY29
  • SAF blending targets: 1% in 2027, 2% in 2028, 5% in 2030 for international flights
  • Maize prices increased from ₹18 to ₹25 per kg during Q2 FY27
  • ESY 2026-27 projected ethanol supply: 1,204 crore litres against demand of 1,200 crore litres

Management Commentary & Growth Outlook

Vijay Nirani, Managing Director:

  • Focus on feedstock planning, production optimization and cost discipline
  • Priority on establishing strong technical, regulatory and commercial foundation
  • Disciplined execution, operational efficiency and prudent capital allocation
  • Feedstock flexibility to respond to seasonal constraints and pricing changes

ESY 2026-27 Outlook:

  • Installed annual capacity: 1,992 crore litres
  • Sugar-based ethanol supply: 300 crore litres (lower contribution)
  • Grain-based ethanol supply: 904 crore litres (75% of projected supply)
  • Estimated demand at 20% blending: 1,200 crore litres
  • Supply cushion: 4 crore litres (limited buffer)
  • Required grain capacity utilization: approximately 82.2%

Key Risks

  • Maize price increase from ₹18 to ₹25 per kg impacting feedstock costs
  • Potential pressure on sugarcane availability from adverse weather conditions
  • Discontinuation of MDA subsidy claims for CBG supplies after 31 August 2026
  • Global oil-market volatility affecting retail fuel expansion