TruAlt Bioenergy led India’s company-wise ethanol allocation for Cycle 1 of Ethanol Supply Year (ESY) 2026–27, with 27.4832 crore litres across five tender unit labels. Alcograin Distillers followed with 22.3960 crore litres and Gulshan Polyols with 19.6886 crore litres, according to Bioenergy Business’s analysis of the oil marketing companies’ allocation list.
Of the 1,099.2336 crore litres allocated in Cycle 1, at least 207.9884 crore litres went to 33 suppliers whose shares are listed directly on the NSE or BSE. That is 18.92% of the total. Several other suppliers are subsidiaries or joint ventures linked to listed companies; their allocations are shown separately.
Largest ethanol suppliers in Cycle 1
Private suppliers accounted for five of the ten largest supplier totals identified. The rankings combine tender entries for plants and units that could be matched to the same legal entity. Allocations to separate companies remain separate, even when they share a parent.
| Supplier | Crore litres | Direct equity listing |
|---|---|---|
| TruAlt Bioenergy Limited | 27.4832 | NSE: TRUALT |
| Alcograin Distillers Private Limited | 22.3960 | Private company |
| Gulshan Polyols Limited | 19.6886 | NSE: GULPOLY |
| Bihar Distillers & Bottlers Private Limited | 18.2495 | Private company |
| Dalmia Bharat Sugar and Industries Limited | 18.1047 | NSE: DALMIASUG |
| Ankoor Distilleries Private Limited | 15.9682 | Private company |
| Alcowave Ethanol Private Limited | 15.7614 | Private company |
| Balrampur Chini Mills Limited | 15.4250 | NSE: BALRAMCHIN |
| IGL Spirits Limited | 14.7532 | NSE: IGLSPIRITS · BSE: 545013 |
| Ankur Biochem Private Limited | 14.3774 | Private company |
That distinction matters for Ankoor Distilleries and Ankur Biochem. India Ratings identifies Ankur Biochem as Ankoor Distilleries’ parent. The allocation list names them separately, so the table reports separate volumes.
33 directly listed suppliers
The table records a verified exchange identifier for each supplier. Where only one exchange is shown, the company may also trade on the other. The subtotal is limited to companies whose direct listing Bioenergy Business confirmed as of 11 November 2026.
| Listed supplier | Crore litres | Verified exchange identifier |
|---|---|---|
| TruAlt Bioenergy Limited | 27.4832 | NSE: TRUALT |
| Gulshan Polyols Limited | 19.6886 | NSE: GULPOLY |
| Dalmia Bharat Sugar and Industries Limited | 18.1047 | NSE: DALMIASUG |
| Balrampur Chini Mills Limited | 15.4250 | NSE: BALRAMCHIN |
| IGL Spirits Limited | 14.7532 | NSE: IGLSPIRITS · BSE: 545013 |
| Globus Spirits Limited | 13.3772 | NSE: GLOBUSSPR |
| Rana Sugars Limited | 10.4304 | NSE: RANASUG |
| Triveni Engineering & Industries Limited | 8.7323 | NSE: TRIVENI |
| True Green Bio Energy Limited | 7.4682 | BSE: 533407 |
| BCL Industries Limited | 7.0293 | NSE: BCLIND |
| Radico Khaitan Limited | 6.5911 | NSE: RADICO |
| The Ugar Sugar Works Limited | 6.4066 | NSE: UGARSUGAR |
| Godavari Biorefineries Limited | 5.3048 | NSE: GODAVARIB |
| DCM Shriram Limited | 5.2194 | NSE: DCMSHRIRAM |
| Uttam Sugar Mills Limited | 5.1400 | NSE: UTTAMSUGAR |
| Pasupati Acrylon Limited | 5.0745 | NSE: PASUPTAC |
| Piccadily Agro Industries Limited | 4.6366 | NSE: PICCADIL · BSE: 530305 |
| Magadh Sugar & Energy Limited | 4.0959 | NSE: MAGADSUGAR |
| Avadh Sugar & Energy Limited | 3.4700 | NSE: AVADHSUGAR |
| Jagatjit Industries Limited | 2.9772 | BSE: 507155 |
| Dhampur Bio Organics Limited | 2.1776 | NSE: DBOL |
| Associated Alcohols & Breweries Ltd. | 2.0231 | NSE: ASALCBR |
| Mawana Sugars Limited | 1.7500 | NSE: MAWANASUG |
| Dhampur Sugar Mills Limited | 1.7150 | NSE: DHAMPURSUG |
| Dwarikesh Sugar Industries Limited | 1.6540 | NSE: DWARKESH |
| Vishwaraj Sugar Industries Limited | 1.4336 | NSE: VISHWARAJ |
| E.I.D.-Parry (India) Limited | 1.3857 | NSE: EIDPARRY |
| Zuari Industries Limited | 1.1500 | NSE: ZUARIIND |
| Shree Renuka Sugars Limited | 1.1000 | NSE: RENUKA |
| Piccadily Sugar and Allied Industries Limited | 0.9601 | BSE: 507498 |
| Bajaj Hindusthan Sugar Limited | 0.8600 | NSE: BAJAJHIND |
| IFB Agro Industries Limited | 0.2911 | NSE: IFBAGRO |
| Kothari Sugars And Chemicals Limited | 0.0800 | NSE: KOTARISUG |
| Confirmed listed subtotal | 207.9884 | 33 suppliers |
IGL Spirits began trading separately on 4 November 2026, according to NSE listing circular NSE/CML/77246 and BSE notice 20261102-44. Its 14.7532 crore litres are recorded under its own name. Piccadily Agro Industries and Piccadily Sugar and Allied Industries also appear separately; the two have distinct exchange identifiers.
Subsidiaries and joint ventures
The allocations below belong to the suppliers named in the first column. These volumes are outside the directly listed subtotal. For example, the 3.1071 crore litres allocated to Radico NV Distilleries Maharashtra are separate from the 6.5911 crore litres allocated directly to Radico Khaitan.
| Tender supplier | Crore litres | Listed company | Relationship |
|---|---|---|---|
| Modi Biotech Private Limited | 7.8191 | Modi Naturals · NSE: MODINATUR | Subsidiary |
| Svaksha Distillery Limited | 4.4695 | BCL Industries · NSE: BCLIND | Subsidiary |
| Radico NV Distilleries Maharashtra Limited | 3.1071 | Radico Khaitan · NSE: RADICO | Joint venture |
| KPR Sugar and Apparels Limited | 2.4600 | K.P.R. Mill · NSE: KPRMILL | Subsidiary |
| KPR Sugar Mill Limited | 1.6830 | K.P.R. Mill · NSE: KPRMILL | Subsidiary |
| Subtotal for these five suppliers | 19.5387 | — | — |
Relationship checks: Modi Naturals annual reports, BCL Industries investor disclosure, K.P.R. Mill annual report and Radico Khaitan annual report.
How we verified the allocations
Bioenergy Business reviewed 3,448 entries in the OMC Cycle 1 allocation list for Tender 1000466894 C1 / 26985. We summed the total quantity assigned to each supplier across quarters and delivery locations, then converted kilolitres to crore litres. The supplier totals reconcile to 10,992,336 kilolitres. Equity listings were checked against the NSE equity directory, BSE records and company disclosures. Suppliers whose status could not be confirmed were excluded from the listed subtotal. These figures describe allocations; actual deliveries may differ.
Follow the procurement cycle: Read how the ESY 2026–27 ethanol tender was structured, what ethanol producers offered, and how the OMC allocation breaks down by quarter, feedstock and receiving state.
Frequently asked questions
Which company received the largest ESY 2026–27 ethanol allocation?
TruAlt Bioenergy led the supplier totals identified in this analysis, with 27.4832 crore litres across five tender unit labels.
How much ethanol was allocated to listed companies?
The 33 suppliers whose direct equity listings we confirmed account for 207.9884 crore litres, or 18.92% of the Cycle 1 total. The figure excludes separate subsidiaries and joint ventures in the linked-company table.
Is IGL Spirits listed separately?
Yes. IGL Spirits was admitted to trading on 4 November 2026. The exchange identifiers are NSE: IGLSPIRITS and BSE: 545013.
Are allocation volumes the same as actual ethanol deliveries?
No. The allocation records the tender quantity assigned for supply. It does not establish delivery volumes or revenue.
