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| TTM P/E | 13.27xIndustry: 22.69x |
|---|---|
| Promoter Holding | 71.38%0.83% QoQ Increase |
| 1-Year Return | -25.79%Slowing Down Stock |
| Order from | BPCL, HPCL, IOCL and MRPL |
| Execution period | ESY 2026-27, 01.11.2026 to 31.10.2027, subject to extension |
| Deal value | ₹1,715.27 Cr |
| Share of market cap | 58.5% |
| Share of annual revenue | 62.4% |
Key highlights
- Allocation of 27.48 crore litres of ethanol for Ethanol Supply Year (ESY) 2026-27
- Public-sector OMC contract valued at ₹1,715.27 crore excluding freight and taxes
- Clients include state-owned majors BPCL, HPCL, IOCL, and MRPL
- Aggregate revenue potential of ₹3,382.29 crore including by-products and private sales
- Multi-feedstock execution utilizing maize, damaged food grains, and sugarcane products
Major Public Sector Allocation Represents 62 Percent of TTM Revenue
TruAlt Bioenergy Limited has been awarded a significant supply contract by public-sector Oil Marketing Companies (OMCs) including BPCL, HPCL, IOCL, and MRPL. The allocation involves 27.48 crore litres of ethanol for the Ethanol Supply Year 2026-27, which runs from November 2026 to October 2027. Valued at approximately ₹1,715.27 crore, this single allocation is highly material, representing 62.4% of the company's trailing twelve-month revenue of ₹2,746.74 crore.
The order aligns with the company's previously stated management guidance of reaching an annual OMC allocation between 40 crore and 42 crore litres.
Total Revenue Potential Reaches ₹3,382 Crore with Private Supply and By-Products
While the public-sector OMC order forms the core of the announcement, TruAlt Bioenergy expects a total aggregate revenue of ₹3,382.29 crore from its broader operations in the coming cycle. This expanded figure includes a 3 crore litre supply to Nayara Energy valued at ₹189 crore and ₹630 crore from the sale of 10 crore litres of Extra Neutral Alcohol. Additionally, the company expects ₹345 crore from by-products such as Distillers Dried Grains with Solubles (DDGS).
Revenue is further bolstered by ₹503.02 crore in pending ethanol supplies carried forward from the ESY 2025-26 period.
Feedstock Breakdown and Technical Delivery Standards
- SFG feedstock dominates the allocation with 15.21 crore litres valued at ₹9,177.3 million
- Maize-based ethanol contributes 8.87 crore litres with a value of ₹5,863.1 million
- Damaged Food Grain (DFG) and CHM account for 2.39 crore and 1.00 crore litres respectively
- Delivery to be executed via dedicated, VTS-fitted tank trucks to OMC locations
- All supplies must meet IS 15464:2022 standards with total chloride below 3 mg/kg
- Payment terms involve 100% settlement within 21 days of material receipt
Strategic Expansion and Biofuel Infrastructure Milestones
The company is actively scaling its infrastructure to meet this growing demand, having recently deployed ₹150.68 crore from IPO proceeds to commission a 300 KLPD dual-feed grain unit at its fourth facility. This capacity expansion supports TruAlt's broader strategic goals, including its transition into Sustainable Aviation Fuel (SAF). In November 2025, the firm signed a ₹2,250 crore MoU for an integrated SAF plant in Andhra Pradesh.
These initiatives position the company to capitalize on India's upcoming 1% SAF blending mandate scheduled for 2027, supported by ₹150 crore in funding under the PM JI-VAN Yojana.
| Date | Announcement | Amount |
|---|---|---|
| 04 Feb 2026 | High Court order upholding contract award for shortfall supply of 15.63 crore litres ethanol to OMCsSource: bioenergybusiness.com | ₹1,062.00 Cr |
| 29 Jan 2026 | Technology licensing agreement with Honeywell for 80,000 TPA Sustainable Aviation Fuel (SAF) plantSource: NSE filing | – |
| 15 Nov 2025 | MoU with Andhra Pradesh Economic Development Board to establish an 80,000 TPA integrated SAF plantSource: chinimandi.com | ₹2,250.00 Cr |
| 11 Nov 2025 | Joint Venture Agreement and Share Purchase Agreement with Sumitomo Corporation for CBG developmentSource: chinimandi.com | – |
| 13 Aug 2025 | Strategic Joint Venture agreement with GAIL (India) Limited to set up 10 Compressed Bio-Gas plantsSource: scanx.trade | – |
What to watch next
- Commencement of the ESY 2026-27 supply cycle on November 1, 2026
- Deployment of ₹150.68 crore in IPO proceeds for the Unit 4 grain unit commissioning
- India's 1% Sustainable Aviation Fuel (SAF) blending mandate starting in 2027
- Funding updates for the Srikakulam SAF project under the PM JI-VAN Yojana
| Share price | ₹342 |
|---|---|
| Market capitalisation | ₹2,932.74 Cr |
| Revenue (annual) | ₹1,727.51 Cr |
| Net profit (annual) | ₹95.95 Cr |
| Revenue (latest quarter) | ₹811.10 Cr+29.39% vs previous quarter |
| Net profit (latest quarter) | ₹34.68 Cr-39.32% vs previous quarter |
| P/E (TTM) | 13.27×Sector 29.01× |
| Promoter holding | 71.38%+0.83% QoQ |
| FII holding | 0.62%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by TruAlt Bioenergy Limited announcing the receipt of ethanol supply allocations for ESY 2026-27. Market figures from a third-party data provider.
