Narrows EBITDA losses to Rs 4.4 crore, down from Rs 31.5 crore

Godavari Biorefineries Limited (GBL), one of the larger producers of ethanol and a global pioneer in manufacturing bio-based chemicals, has reported a strong recovery in Q2 FY26, delivering 34 per cent year-on-year growth in revenue from operations and significantly narrowing losses, with robust traction across both the bio-based chemicals and ethanol segments.

Key Highlights (Consolidated – Q2 FY26)

Revenue from Operations: Rs 430.8 crore (vs. Rs 321.0 crore in Q2 FY25)

EBITDA: Rs (4.4) crore (vs. Rs (31.5) crore in Q2 FY25)

PAT: Rs (41.6) crore (vs. Rs (75.0) crore in Q2 FY25)

Bio-based Chemicals Segment EBITDA: Rs 15.0 crore (up 60 per cent YoY)

Ethanol Segment EBITDA: Rs 4.7 crore (vs. loss of Rs 2.9 crore in Q2 FY25)

Samir Somaiya, Chairman and Managing Director, Godavari Biorefineries said, “Q2 FY26 has shown early signs of recovery for the company. We achieved 34 per cent 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 per cent 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.”

Somaiya added, “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.”

He further said, “Our 200 KLPD fungible grain/maize distillery is targeted for commissioning in Q4 FY26. 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 CO₂-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.

Somaiya said, “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.”