- Strong quarterly performance signals operational ramp-up at Changodar plant
- Standalone Q2 FY27 net revenue touches Rs 234.55 crore, with EBITDA at Rs 31.11 crore
- Company reports net profit (PAT) of Rs 18.02 crore in its second quarter
- Changodar’s 300-KLPD grain-based ethanol facility achieves over 85-90% capacity utilisation
- Proposed 150-KLPD brownfield expansion entails an estimated investment of Rs 145 crore
NE BUSINESS BUREAU
AHMEDABAD, NOV 5
True Green Bio Energy Limited (TGBEL), a Chiripal Group company, has reported a standalone net profit of Rs 18.02 crore for the second quarter of FY27, backed by revenue of Rs 234.55 crore and EBITDA of Rs 31.11 crore, as its recently commissioned ethanol manufacturing facility at Changodar gains operational momentum. The company is now looking to scale up its manufacturing footprint through a proposed Rs 145-crore brownfield expansion, signalling its ambition to strengthen its presence in India’s rapidly evolving biofuel sector.
The company’s existing grain-based ethanol manufacturing facility at Changodar, Ahmedabad, has an installed capacity of 300 kilo litres per day (KLPD). Having commenced commercial production in October 2025, the plant is currently operating at more than 85-90% capacity utilisation, reflecting its operational ramp-up.
The facility uses waste and damaged grains, including broken rice and maize, as feedstock to manufacture fuel-grade ethanol, alongside valuable by-products such as distillers dried grains with solubles (DDGS).
Rs 145-crore expansion on the cards
As part of its next phase of growth, TGBEL proposes to add another 150 KLPD of manufacturing capacity at its existing facility. The brownfield expansion is expected to involve an investment of approximately Rs 145 crore. The company has submitted its project proposal to its existing lenders for consideration.
The proposed expansion is aimed at augmenting production capacity and strengthening the company’s ability to cater to the growing requirements of oil marketing companies (OMCs).
Operational scale-up and sectoral prospects
Commenting on the company’s quarterly performance and expansion roadmap, Jyotiprasad Chiripal, Chairman and Director, True Green Bio Energy Limited, said, “The commencement of commercial production at our Changodar facility marks an important step in our entry into the ethanol manufacturing business. The plant is currently operating at more than 85-90% capacity utilisation, and we are focused on strengthening production and supplies to oil marketing companies.
“We have also submitted our proposal for a 150 KLPD brownfield expansion to our existing lenders. With this proposed investment, we aim to build additional capacity and strengthen our position in the ethanol sector.”
Highlighting the broader industry outlook, Chiripal further said, “The ethanol sector is entering a phase where efficient production, feedstock management and reliable supplies to oil marketing companies will be important for sustainable growth. We believe grain-based ethanol will continue to play a significant role in India’s biofuel programme.”
With its Changodar facility already operating at a high level of capacity utilisation and a further expansion proposal under consideration, TGBEL is positioning itself to participate in the evolving opportunities across India’s ethanol and renewable energy value chain.