Produces grain-based ethanol from maize and FCI rice for blending into petrol, with installed distillation capacity of 810 KLPD. The Ethanol (Bio-Fuel)/Distillery segment generates 69.6% of FY26 revenue at an 11.1% segment EBIT margin, supported by an order book of 18 crore litres (equivalent to about INR 1,250 crores in revenue) under long-term off-take with oil marketing companies running through 2032. Grain processing accounts for 26.4% of revenue but ran at a -0.7% segment EBIT margin in FY26, while mineral processing is small at 4.0% of revenue but delivered the highest segment margin of 18.6% EBIT. Feedstock is by far the largest cost at 64.1% of revenue; FCI rice covers 40% of ethanol feedstock at fixed prices, with maize in the INR 19-22/kg range filling the balance, and a DDGS by-product contributing roughly INR 10 per litre of incremental value to ethanol economics. The distillery side also supplies about 103.6 lakh proof litres of country liquor across six Madhya Pradesh excise districts for 2026-27. Management has guided FY27 revenue of INR 2,600-2,800 crores and is planning a INR 500 crore specialty/import-substitute chemicals capex at a 100-acre Narsinghpur, MP site from FY28, while PLI subsidies contribute about INR 30 crores per annum. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Ethanol (Bio-Fuel)/Distillery (70%), Grain Processing (26%), Mineral Processing (4%). Asset-heavy grain-based ethanol and distillery operator transitioning from its legacy mineral/PCC business, with feedstock-linked cost structure.
| ₹ crore · consolidated | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 1,180 | 1,378 | 2,020 |
| EBITDA (ex other income) | 88 | 58 | 95 |
| margin % | 7.5 | 4.2 | 4.7 |
| Owners' profit | 45 | 18 | 25 |
| EPS, as reported (₹) | 8.69 | 2.85 | 3.95 |
| ROE % · ROCE % | 7.9 · 9.2 | 3.0 · 4.5 | 4.0 · 7.6 |
| Debt / equity (x) | 0.43 | 0.59 | 0.64 |
| Cash from operations | 15 | 66 | 42 |
| Capex | (254) | (179) | (56) |
| ₹ crore | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 371 | 406 | 455 | 440 | 610 | 515 | 593 | 542 |
| Profit before tax | 8 | 8 | 13 | 2 | 9 | 11 | 20 | 23 |
| Net profit | 5 | 7 | 10 | 1 | 7 | 7 | 13 | 16 |
| EPS (₹) | 0.74 | 1.05 | 1.55 | 0.20 | 1.08 | 1.12 | 2.11 | 2.53 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Ethanol(Bio-Fuel)/Distillery | 781 | 38.7 |
| Grain Processing | 729 | 36.1 |
| Mineral Processing | 104 | 5.2 |
| Ethanol (BIO-Fuel)/ Distillery | 405 | 20.1 |
| Total, before eliminations | 2,020 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 15,244 | 23.8 | 3.37 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · 26th AGM held; final dividend Rs 1.50/share declared; QIP fundraising approved | board shareholder meetings | medium | — | — |
| 19 Aug 2026 · Gulshan Polyols files newspaper notice for 26th AGM on September 11, 2026 | compliance | minimal | — | — |
| 18 Aug 2026 · Gulshan Polyols submits BRSR for FY26; turnover Rs 2,312 cr, ethanol is top product | compliance | low | — | — |
| 18 Aug 2026 · 26th AGM notice on Sep 11, 2026; QIP fundraise up to Rs 250 Cr proposed | board shareholder meetings | low | — | — |
| 18 Aug 2026 · 26th AGM notice with ₹1.50 dividend and ₹250 Cr QIP fundraise plan | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Annual Report FY26 and 26th AGM Notice filed; final dividend of Rs 1.50 per share recommended | board shareholder meetings | medium | — | — |
| 17 Aug 2026 · Additional Ethanol Allocation worth about Rs 147 Crore from OMCs | business updates | high | — | — |
| 17 Aug 2026 · Gulshan Polyols fixes 26th AGM on September 11, 2026 | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Gulshan Polyols 26th AGM on September 11, 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Final Dividend of Rs 1.50 per share; Record Date August 28, 2026 | corporate actions | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| 12.9 |
| 13.8 |
| 16.0 |
| 18.7 |
| 11.5 |
| KRBL LIMITED | 9,630 | 12.7 | 1.66 | 10.0 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 7,486 | 18.0 | 2.27 | 13.9 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,703 | 15.0 | 2.11 | 10.0 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,550 | 25.3 | 2.25 | 13.6 | 6.1 | 4.8 | — | 23.5 |
| SANSTAR LIMITED | 2,207 | 65.6 | — | — | — | — | — | 8.8 |
| AMIR CHAND JAG KUM (E) L | 2,131 | 20.4 | 2.31 | 12.6 | 11.2 | 14.8 | — | 9.5 |
| GRM OVERSEAS LIMITED | 1,747 | 13.3 | 2.88 | 16.4 | 12.3 | 16.5 | 17.2 | 8.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.6 | 12.0 | 54 of 65 | 17% |
| P/B | 1.7 | 1.7 | 25 of 51 | 50% |
| ROCE | 5.1 | 4.4 | 32 of 68 | 54% |
| ROE | 4.5 | 3.3 | 26 of 54 | 53% |
| Debt / Equity | 0.7 | 0.2 | 38 of 54 | 30% |
| EBITDA margin | 7.8 | 9.7 | 32 of 45 | 30% |
| Revenue growth | 23.0 | 10.3 | 17 of 51 | 68% |
| Profit growth | 1190.2 | 16.6 | 2 of 51 | 98% |
| Market cap | 1093 | 69 | 11 of 69 | 85% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
