The commencement of commercial operations at Plant located in Ahmedabad.
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True Green Bio Energy Ltd has started commercial operations at its new 300 KLPD (Kilo Litres Per Day) grain-based ethanol plant located in Ahmedabad, Gujarat. The plant is set to dispatch sizable volumes of ethanol to major oil marketing companies including Reliance Industries, Nayara Energy, HPCL, Indian Oil Corporation, and Bharat Petroleum. The company (formerly known as CIL Nova Petrochemicals Limited) announced this under SEBI Regulation 30. This marks the transition from a textile-focused entity to an active biofuel producer, with anchor clients secured at inception.
Positive for shareholders — commissioning of a new revenue-generating asset with marquee clients already lined up supports future top-line growth. However, the scale of earnings impact will depend on plant utilization, ethanol pricing, and grain input costs going forward.