Revenue doubles YoY to ₹627 Cr; TruAlt Q1 PAT jumps to ₹59 Cr from near-breakeven
PAT +1154.4% YoY · revenue +106.3% · margins expanding
₹626.88 Cr
+106.3% YoY
₹59.27 Cr
+1154.4% YoY
9.24%
+7.8pp YoY
₹6.67
TruAlt Bioenergy's Q1 FY27 consolidated revenue more than doubled year-on-year to ₹626.88 Cr, up 106% from ₹303.89 Cr in the year-ago quarter and 5.3% sequentially over ₹595.52 Cr. Consolidated PAT swung to ₹59.27 Cr from just ₹4.73 Cr a year earlier — the June-2025 quarter was near-breakeven (PBT of only ₹5.80 Cr), depressed by the ethanol tender-allocation issues that dogged FY26 — so the leap reflects a genuine recovery in ethanol offtake rather than a purely optical low base. EPS came in at ₹6.67; standalone revenue was ₹615.92 Cr with PAT of ₹55.01 Cr (EPS ₹6.41).
Q1 FY-2027 vs prior quarters
The print was carried almost entirely by the Ethanol & other products segment, which delivered ₹615.68 Cr of revenue and a ₹225.84 Cr segment result; the nascent Compressed Biogas segment added ₹11.21 Cr revenue and ₹9.24 Cr result. Operating margin expanded to roughly 21% (from 13.7% YoY) and net margin to ~9.5% (from 1.5% YoY) on the higher ethanol volumes and mix. There were no exceptional items on either side, and the ₹19.17 Cr tax line was almost wholly deferred. Sequentially, against a seasonally strong March quarter, revenue rose modestly and profitability held broadly steady — ethanol/sugar-linked businesses are seasonal, so the year-on-year comparison is the cleaner read.
The stock went into the print at ₹419.15, down 8.8% over the past month of trading.
What the summary numbers don't show
No exceptional items — ₹19.17 Cr tax charge almost entirely deferred; profit-for-period includes ₹2.12 Cr non-controlling interest
Management projects continued revenue growth driven by increased ethanol allocation (targeting 55 crore liters, including pending court order implementation), expansion in Compressed Biogas (CBG) plants to 162 tons per day by FY27, and the development of Sustainable Aviation Fuel (SAF) and fuel retail outlets. While FY
— This quarter: met
The result squares with management's May concall guidance of a recovery driven by higher ethanol allocation (targeting 55 crore litres, including a pending court-order implementation), CBG expansion to 162 tpd by FY27, and diversification into SAF and fuel retail — the doubling of revenue is consistent with that recovery, though CBG remains tiny for now. During the quarter TruAlt secured ₹150 Cr under the PM JI-VAN Yojana for its SAF project. There is no formal quarterly numeric guidance and no published brokerage consensus for this recently listed name; a Smartkarma note had framed FY27 as the company's 'payoff' year. The auditor issued an unmodified limited review, with an emphasis of matter on the still-pending Unit-4 componentisation (mono-to-dual feed, capitalised February 2026).
W1
Ethanol allocation ramp toward the 55-crore-litre target (incl. pending court order) — Q1's ₹626.88 Cr implies a ~₹2,500 Cr annualised run-rate to sustain
W2
CBG scale-up to 162 tpd by FY27 — segment still only ₹11.21 Cr revenue this quarter
W3
SAF project progress on the ₹150 Cr PM JI-VAN funding, plus Unit-4 componentisation completion and its depreciation impact
Clean digital PDF, in ₹ lakhs. Consolidated PAT ₹59.27 Cr is profit-for-period incl. NCI ₹2.12 Cr (parent ₹57.15 Cr). No exceptional items either period; tax charge almost entirely deferred. Board letter calls results 'audited' but statement columns are labelled 'Unaudited' with an unmodified limited review — treated as unaudited/limited-review. Emphasis of matter: Unit-4 mono-to-dual-feed componentisation (capitalised Feb 2026) pending. Our DB's prior-quarter PAT (₹60.95 Cr) differs from the filing's own March column (₹68.84 Cr); QoQ computed on the DB record.
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