Outcome of Board Meeting held on 13th November, 2025 as attached
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True Green Bio Energy Ltd (formerly CIL Nova Petrochemicals) reported Q2 FY26 revenue from operations of Rs. 220.23 lakhs, sharply lower than Rs. 1,510.40 lakhs in Q2 FY25. For H1 FY26, total income stood at Rs. 1,016.10 lakhs versus Rs. 1,943.19 lakhs in H1 FY25, but the company posted a profit after tax of Rs. 46.84 lakhs (vs Rs. 8.44 lakhs) and PBT of Rs. 208.90 lakhs (vs Rs. 43.13 lakhs). The company commenced commercial operations at its new 300 KLPD grain-based ethanol plant in Ahmedabad during the quarter. It also raised around Rs. 21.25 crores in July 2025 via a preferential issue of 30.35 lakh shares at Rs. 70 each. Capital work-in-progress surged to Rs. 27,016.54 lakhs (from Rs. 5,664.80 lakhs at March 2025) reflecting heavy ethanol plant capex.
The turnaround to profitability and the commencement of the new ethanol plant are encouraging for future growth, but sharp revenue decline, negative operating cash flow of Rs. (1,204.59) lakhs, and rising non-current borrowings of Rs. 15,237.92 lakhs (now exceeding total equity of Rs. 12,802.04 lakhs) remain key risks for shareholders.