Nature of Disclosure: Submission of unaudited standalone financial results for Q2 FY27 (quarter and half year ended September 30, 2026) pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were approved by the Board of Directors in their meeting held on November 03, 2026.

Key Financial Figures (Standalone Q2 FY27):

  • Net Profit: ₹18.02 crore
  • EBITDA: ₹31.11 crore
  • Net Revenue: ₹234.55 crore

Operational Highlights:

The company currently operates a grain-based ethanol manufacturing plant at Changodar, Ahmedabad, with a total capacity of 300 Kilo Litres Per Day (KLPD). The plant commenced commercial production in October 2025 and is currently operating at more than 85-90% capacity utilization. The facility uses waste and damaged grains, including broken rice and maize, to manufacture fuel-grade ethanol and byproducts such as distillers dried grains with solubles (DDGS).

Expansion Plans:

TGBEL plans to expand capacity by adding another 150 KLPD, involving an estimated investment of ₹145 crore. The project proposal has been submitted to the existing lenders for consideration. This brownfield expansion is part of the company's plans to increase its ethanol manufacturing capacity.

Management Commentary:

Mr. Jyotiprasad Chiripal, Chairman and Director, stated that the commencement of commercial production marks an important step in the company's entry into the ethanol manufacturing business. He emphasized the focus on strengthening production and supplies to oil marketing companies. Regarding the sector outlook, he commented that "efficient production, feedstock management and reliable supplies to oil marketing companies will be important for sustainable growth" and that "grain-based ethanol will continue to play a significant role in India's biofuel programme."

Company Background:

True Green Bio Energy Ltd, formerly known as CIL Nova Petrochemicals Ltd, is a publicly listed company promoted by the Chiripal Group. The company entered the biofuel manufacturing business with the implementation of the grain-based ethanol project in October 2025 and proposes to supply ethanol to oil marketing companies.

Contact Information:

Registered Office and Factory: 396(P)-395/4(P), Moraiya Village, Sarkhej-Bavla Highway, Ahmedabad-382210, Gujarat, India

Tel: 079-29798623

GSTN: 24AADCN0932G1ZV