TruAlt Bioenergy Limited (TruAlt), one of India’s largest biofuels producers and the country’s largest ethanol player by installed capacity, announced its financial results for the second quarter and first half of the financial year ended September 30, 2025 (Q2 and H1 FY 2025–26).

The company reported a net loss of Rs. 37.94 crore in Q2 FY26 as compared to Rs. 18.66 crore in Q2 FY25. Revenue from operations was down by 70 per cent at Rs. 114.86 crore in Q2 FY26 as compared to Rs. 388.22 crore in Q2 FY25. EBITDA also witnessed a loss of Rs. 4.55 crore as compared to Rs. 17.26 crore in Q2 FY25.

For the Half Year ended September 30, 2025, Revenue from operations was down by 28 per cent to Rs. 418.75 crore as compared to Rs. 585.62 crore in H1 FY26.  H1 FY26 consolidated loss stood at Rs. 33.27 crore as compared to loss of Rs.   40.25 crore in H1 FY25.

However, Q1 and Q2 FY26 marked an intense phase of transformation across TruAlt’s ethanol platform. The company progressed its dual-feed integration initiative across 1,300 KLPD out of its 2,000 KLPD installed capacity, covering three of its five manufacturing units in Karnataka. These integrations required a series of planned, safety-driven shutdowns, resulting in temporarily lower capacity utilisation and production volumes.

The quarter also saw commissioning pauses, equipment realignments and process stabilisation, all of which formed critical steps in shifting from a mono-feed, season-linked operating model to a year-round, near-continuous operations model. Despite having installed capacity, OMC allocations and assured feedstock, the temporary shutdown was a deliberate strategic call to break out of seasonality. Expanding from 140 to 300–330 operating days, TruAlt is increasing its uptime by 114 to 136 per cent.

Despite undertaking a 3.5-month planned shutdown for dual-feed integration, TruAlt delivered a stronger H1 bottom line than the previous year’s first half, reaffirming the strength and continuity of our core platform. The CBG vertical, meanwhile, emerged as a clear outperformer, delivering breakout growth with H1 FY26 income of Rs. 20.70 crore and PAT of Rs. 9.71 crore, a 659 per cent surge year on year. EBITDA rose to Rs. 13.89 crore, marking 286 per cent growth, while EBITDA margins expanded to an exceptional 68.29 percent, up 130 per cent, establishing CBG as one of TruAlt’s most compelling value-accretive businesses.

With dual-feed configuration now completed and feedstock accessibility widening across the network, TruAlt is structurally repositioning itself to operate closer to 330 days annually, compared to ~140 days under the earlier model.