Company’s total income increased to Rs 730.86 crore, representing a 69.75 per cent quarter-on-quarter growth, driven by higher throughput following the commissioning of grain integration capex and expanded plant operations.

Bengaluru based TruAlt Bioenergy Limited, one of India’s largest biofuels players announced its financial and operational performance for the quarter ended December 31, 2025 (Q3 FY26).

During Q3 FY26, TruAlt Bioenergy Limited completed a key phase of operating consolidation in the ethanol segment, with the planned capital expenditure for grain-based integration fully commissioned. The sugar crushing season in Karnataka commenced only from mid-November, resulting in approximately 58 effective operating days during the quarter. During this period, four of the Company’s five ethanol plants were operational, achieving capacity utilization of over 95 per cent on operating days. Unit 5 received its Consent to Operate on December 17, 2025, following which all ethanol plants are now fully operational. On a gross-quarter basis, overall utilization stood at approximately 60 per cent, while utilization on operating days exceeded 95 per cent. With the completion of the current capex programme, no further capacity additions are planned across the ethanol business, and the Company now operates on a stabilized platform with the ability to support monthly ethanol production of approximately 5.5 to 6 crore Liters.

Q3 FY26 marked a clear operational and financial inflection for the Company, as performance was restored at scale across its multi-feed ethanol platform. Total income increased to Rs 730.86 crore, representing a 69.75 per cent quarter-on-quarter growth, driven by higher throughput following the commissioning of grain integration capex and expanded plant operations. EBITDA rose to Rs 134.00 crore, up 7.54 per cent sequentially, reflecting improving capacity utilization and operating leverage. While PAT stood at Rs 69.19 crore during the quarter due to transitional operating factors, the commissioning of Unit 5 positions the Company for near year-round operations, providing improved visibility on sustained performance going forward.

The CBG segment delivered a strong performance, supported by operating efficiencies that meaningfully exceeded industry benchmarks. For the nine months ended December 31, 2025, the business recorded total income of Rs 30.97 crore, EBITDA margin of 63% and PAT margin of 43 per cent, reflecting the robustness and scalability of the operating model. Having moved beyond the execution and learning phase, the Company is now focused on disciplined expansion, 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). Policy momentum continues to support sector growth, including excise duty exemptions announced in the Union Budget 2026–27, alongside pipeline infrastructure support, CBG–CNG synchronization, and capital and market-linked incentives, improving project economics and long-term visibility.

In the Sustainable Aviation Fuel (SAF) segment, the aviation industry is at a critical inflection point, with increasing urgency to reduce carbon emissions. As recognized under the CORSIA framework, SAF represents the only scalable pathway to decarbonize aviation. India is well positioned to capitalize on this opportunity, supported by a strong ethanol infrastructure, feedstock availability and technological readiness. During the quarter, the Company progressed with a technology licensing agreement with Honeywell UOP, with engineering design underway for a proposed 100 million liters per annum SAF facility in Andhra Pradesh. In parallel, discussions are being advanced with Sumitomo Corporation for potential equity participation. The Company is also at an advanced stage of approvals and is positive about receiving Rs150 crore of viability gap funding under the PM JI-VAN scheme, which would further strengthen project viability and execution readiness.

In the biofuel retail segment, the Company received its oil marketing company licence and commissioned seven retail outlets within a span of six months. Four additional stations are currently under development, with clear visibility to scale approximately 75 outlets from FY27 onwards. This expansion positions TruAlt Bioenergy to be future-ready, aligned with the expected adoption of flex-fuel in India and strengthening its presence in the B2C energy segment.

Additionally, the Company continues to explore value-enhancing opportunities across Distillers Dried Grains with Solubles (DDGS) and green CO₂, consistent with its integrated operating model and focus on improving resource efficiency and earnings resilience.

Commenting on the performance, Vijay Nirani, Managing Director said, “The third quarter reflects meaningful progress in strengthening TruAlt Bioenergy’s operating foundation and enhancing the quality of earnings. Margin expansion during the period underscores the benefits of scale, dual-feed integration and disciplined execution across the platform. The transition towards near year-round operations marks a structural shift for the business, improving operating predictability, efficiency and earnings visibility.

As the Company continues to build on its integrated bioenergy platform, the focus remains on consistent execution, prudent capital allocation and long-term value creation. Looking ahead, TruAlt Bioenergy remains committed to delivering sustained financial performance, investing with discipline and purpose, and creating enduring value for shareholders while contributing meaningfully to India’s energy security and transition goals.”