TruAlt Bioenergy Ltd

Q2 FY26Agricultural Food & other Products

TruAlt Bioenergy Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹446

Market cap₹4.0K Cr

P/E25.3

Updated23 Aug 2026

Read4 min read

The short version

FY26 ethanol volume target revised to 36-37 crore liters (previously 41 crore liters). TruAlt Bioenergy expects a strong growth trajectory aligned with past performance trends, driven by diversified verticals: ethanol, CBG, retail fuel, and upcoming SAF segment.

From TruAlt Bioenergy Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY26 ethanol volume target revised to 36-37 crore liters (previously 41 crore liters).
H1 FY26 ethanol volume was 5.7 crore liters; expecting 31-32 crore liters in H2 FY26.
Q3 and Q4 FY26 expected to contribute around 26-28 crore liters of ethanol production.
Ethanol expected to remain primary revenue driver in next financial year, contributing ~85% of gross revenue; CBG (Compressed Biogas) to account for ~15%.
Multiple feedstock integration (syrup, maize, rice, damaged food grains) enables year-round ethanol production beyond sugarcane season.
CBG vertical expanding with 16-17 plants planned over next 9-12 months; current EBITDA margins 60-65%.
SAF (Sustainable Aviation Fuel) plant commercial production expects commissioning by Aug-Sep 2027; revenue from FY28.

2 more points management made on revenue & sales performance

Profitability & Margins

TruAlt Bioenergy expects a strong growth trajectory aligned with past performance trends, driven by diversified verticals: ethanol, CBG, retail fuel, and upcoming SAF segment.
CBG segment shows robust growth with EBITDA margins around 60-68%, contributing significantly to profitability; PAT margin improved to nearly 50% in Q2 FY26.
Ethanol volumes targeted at 36-37 crores liters for FY26, with an expected ramp-up in second half; EBITDA margins estimated at 15-16%.
New SAF plant commissioning planned for FY28, expected to add to revenue and profitability thereafter.
IRR for upcoming projects expected around 19-22%, with PAT margins growing to 30%+ as scale increases.

2 more points management made on profitability & margins

See what TruAlt Bioenergy Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

TruAlt Bioenergy has an MOU signed with Andhra Pradesh government for a project estimated at INR 2,250 crores.
Planned funding mix is approximately 30% equity and 70% debt, with potential for strategic partners and innovative financing models.
The project IRR is expected around 19% with a payback period of 3.5 to 4 years, assuming 85%-90% capacity utilization.
Expansion includes setting up 16-17 additional CBG plants within 9-12 months, boosting EBITDA margins to 60%-65%.

- A Sustainable Aviation Fuel (SAF) plant is under technology transfer with Honeywell UOP, targeting commissioning around August-September 2027, with revenue beginning FY 2028. - Recent capital investments include a multi-feed plant addition and conversion to bagasse-based power systems to reduce costs. Overall, there is strong ongoing and planned capital investment focused on scaling ethanol, CBG, and SAF capacities.

2 more points management made on capital expenditure plans

Top-ranked in Agricultural Food & other Products

Ranked on what management guided this quarter

5x potential

1Regaal Resources₹927 Cr

Rev 1Mar 2

2Prospect Consum.₹21 Cr

Rev 1Mar 3

3₹250 Cr

Rev 2Mar 1

4₹218 Cr

Rev 2Mar 1

5₹2.7K Cr

Rev 2Mar 2

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

For the INR 2,200-2,250 crore MOU project with Andhra Pradesh government, TruAlt Bioenergy plans a 30:70 debt-to-equity funding mix.
The company intends to bring in large strategic partners for this investment.
The 30:70 debt-to-equity ratio is preliminary and subject to change; innovative financing models might be considered.
The company has availed term loans from banks (financial liabilities increased from INR 996.23 crores to INR 1075.36 crores as of Sept 2025).

2 more points management made on fundraising & capital structure

See what TruAlt Bioenergy Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

TruAlt Bioenergy has a targeted ethanol supply order book of approximately 47 crore liters for the ethanol supply year Nov 2025–Oct 2026.
Out of this, about 34 crore liters are allocated from government OMCs, and around 5.8 crore liters from private OMCs (Jio and Nayara combined).
For FY25, the company supplied about 26.57 crore liters of ethanol.
There is a pending/disputed allocation of 14 crore liters from the last ethanol year.

2 more points management made on order book & pipeline

TruAlt Bioenergy Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹596 Cr, net profit ₹61 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What TruAlt Bioenergy's management said in earlier quarters

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Frequently Asked Questions

What were TruAlt Bioenergy Ltd Q2 FY26 results?

What is TruAlt Bioenergy Ltd share price analysis?

TruAlt Bioenergy Ltd currently shows a neutral. The stock trades at a P/E of 25.3 with a market cap of ₹3,958 Cr. Investors should review the full earnings analysis for detailed insights.

Is TruAlt Bioenergy Ltd planning capital expenditure?

TruAlt Bioenergy has an MOU signed with Andhra Pradesh government for a project estimated at INR 2,250 crores.

Keep TruAlt Bioenergy Ltd on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.