TruAlt Bioenergy reported a consolidated net profit of ₹94.27 crore for the half year ended September 30, 2026, reversing a ₹33.27 crore loss a year earlier, as revenue from its operations rose sharply. The company linked the improvement to its ethanol business and investments that allow more of its plants to switch between sugar-based and grain-based feedstocks.
Revenue from operations increased 243% year-on-year to ₹1,437.98 crore in H1 FY27, while EBITDA rose 532% to ₹233.92 crore, according to the company’s October 23 release accompanying its unaudited results. Alongside the ethanol business, TruAlt outlined progress on compressed biogas projects with Sumitomo Corporation and GAIL.
Dual-feed ethanol capacity supports longer operating cycles
TruAlt has 2,000 kilolitres per day (KLPD) of installed ethanol capacity across five manufacturing units in Karnataka. Of this, 1,300 KLPD, or 65%, can process both sugar-based and grain-based feedstocks following integration work carried out in the previous financial year.
The company said this flexibility helps it respond to seasonal raw-material availability and procurement costs, supporting longer production cycles and more consistent operations. It did not provide a capacity-utilisation figure in the release.
Higher maize prices put pressure on margins in the second quarter. For Q2 FY27, TruAlt reported revenue of ₹811.10 crore, EBITDA of ₹101.16 crore and profit after tax of ₹34.99 crore. Its Q2 EBITDA margin was 12.47%, compared with 16.27% for the first half as a whole.
Managing Director Vijay Nirani said dual-feed integration had strengthened the company’s ability to manage seasonal feedstock constraints and improve operating continuity. He identified higher utilisation, disciplined procurement and efficient operations as priorities.
Consolidated financial performance
Amounts in ₹ crore, except EBITDA %. The table below retains the particulars and figures presented in the company’s press release.
| Particulars | For the 6 months ended 30 September 2026 | For the 6 months ended 30 September 2025 |
|---|---|---|
| Income | ||
| Revenue from operations | 1,437.98 | 418.75 |
| Other Income | 27.16 | 37.44 |
| Total Income | 1,465.14 | 456.19 |
| Expenses | ||
| Cost of goods sold | 1,008.08 | 311.96 |
| Employee benefits expense | 24.12 | 21.85 |
| Finance costs | 86.50 | 76.39 |
| Depreciation and amortization expense | 49.05 | 41.47 |
| Other expenses | 171.86 | 47.95 |
| Total Expenses | 1,339.61 | 499.62 |
| Profit / (Loss) Before Tax | 125.53 | (43.43) |
| Tax Expenses | 31.27 | (10.16) |
| Profit / (Loss) After Tax | 94.27 | (33.27) |
| EBITDA | 233.92 | 36.99 |
| EBITDA % | 16.27% | 8.83% |
The first-half EBITDA margin improved by about 744 basis points from 8.83% a year earlier. The company said second-quarter revenue grew approximately 606% year-on-year.
Biogas projects advance with Sumitomo and GAIL
TruAlt said four compressed biogas (CBG) plants are under construction through its partnership with Japan’s Sumitomo Corporation. Its development programme also includes six additional projects with GAIL (India) Limited.
The company said reliable feedstock supply, secured offtake and phased commissioning remain central to these projects. The release did not give commissioning dates or individual plant capacities, so the projects should be distinguished from operating capacity.
For further sector coverage, read Bioenergy Business’s report on Petronet LNG and Gruner Renewable Energy’s planned investment in 10 CBG plants.
Proposed SAF facility and co-products
TruAlt is also developing a proposed sustainable aviation fuel (SAF) facility at Srikakulam in Andhra Pradesh, with planned capacity of 100 million litres a year and technology collaboration with Honeywell UOP.
According to the company, the project has received a ₹150 crore grant sanction under the PM JI-VAN Yojana. Engineering, statutory approvals, financing and commercial arrangements remain development priorities; the release does not describe the facility as operational.
Distillers dried grains with solubles (DDGS) provide another revenue stream from grain-based ethanol production. TruAlt also pointed to captured carbon dioxide and other co-products as opportunities to extract more value from its existing operations. Its fuel retail network comprises seven operational outlets and four under construction.
Feedstock access remains key for ethanol production
In its indicative assessment for ethanol supply year (ESY) 2026-27, TruAlt projected national supply of approximately 1,204 crore litres against estimated demand of 1,200 crore litres. These are company estimates, rather than confirmed supply or allocations.
The assessment assumes a smaller contribution from sugar-based ethanol because of potential weather-related constraints on sugarcane availability. TruAlt said access to Food Corporation of India rice and alternative grains, viable procurement prices and predictable oil marketing company allocations would influence how much of the industry’s production capacity can be used.
Bioenergy Business’s OMC ethanol tender explainer provides further background on feedstocks and the allocation process.
Source: TruAlt Bioenergy Limited’s press release dated October 23, 2026, submitted to BSE and NSE with its unaudited results for the quarter and half year ended September 30, 2026. Project plans and industry estimates are attributed to the company and remain subject to execution and market conditions.
