Financial Results for the Quarter and Year ended March 31, 2026.
TRUALT · price
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TruAlt Bioenergy reported standalone revenue of ₹1,70,465 lakhs for FY2026, down 9.3% from ₹1,88,012 lakhs in FY2025. Profit after tax declined significantly by 43% to ₹8,003 lakhs from ₹14,062 lakhs previously. The company raised ₹66,571 lakhs through an IPO in September 2025 (oversubscribed 75 times) and deployed funds for capex and working capital. Operating cash flow turned negative at ₹29,615 lakhs due to a sharp increase in inventories (from ₹20,420 to ₹52,183 lakhs) and higher raw material costs. The auditor issued an unmodified opinion but included an emphasis of matter noting that fixed asset componentization under Ind AS 16 is still in progress. Key developments include dual-feed expansion at three units, a joint venture with Sumitomo Corporation for CBG plants, and a partnership with Honeywell for ethanol-to-jet technology.
The significant decline in profitability and negative operating cash flow are concerning signals for investors. However, the successful IPO, strategic partnerships, and technology initiatives provide some growth visibility. The company's ethanol supply dispute with OMCs (worth ₹1,075 crore) is pending a court decision for a 90-day extension.