Britannia Industries reported a 13.6% year-on-year rise in consolidated net profit to ₹591 crore for the June quarter (Q1) of FY27, driven by volume and price increases across key categories. Despite the growth, the company missed street estimates of ₹606 crore, citing inflationary pressures in fuel and logistics amid geopolitical uncertainty. Consolidated revenue from operations increased 8.2% year-on-year to ₹5,000 crore, in line with market expectations of ₹4,999 crore.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 11% year-on-year to ₹840 crore, though this fell short of the estimated ₹871 crore. EBITDA margins expanded marginally to 16.8% in Q1FY27 compared to 16.4% in the corresponding period of FY26. Total expenses stood at ₹4,262.24 crore, reflecting a 7.27% year-on-year increase. The company noted that it is gaining ground against local rivals, with positive sequential momentum anchored by rapid scaling in e-commerce and robust growth in general trade.

Financial Performance

The company’s international business recovered sequentially as supply chain constraints began normalising in the latter part of the quarter. Britannia derives approximately 93-95% of its revenue from domestic operations, with international businesses contributing 5-7%. Rakshit Hargave, CEO & MD of Britannia Industries, stated that higher advertisement, influencer, and promotional spends aided growth. He added that the company will remain agile to deliver sustainable revenue growth amid improving domestic demand, driven by sharp innovation and disciplined margin management.

What the Numbers Show

While top-line growth was strong at 8.2%, the miss in net profit against estimates highlights the impact of input cost inflation. The slight expansion in EBITDA margins to 16.8% suggests some success in passing on price increases, but the gap between actual and estimated earnings indicates persistent pressure from fuel and logistics costs. The sequential recovery in international operations provides a potential upside, though this segment remains a small contributor to overall revenue.

TruAlt Bioenergy Limited has convened its 5th Annual General Meeting for Monday, August 31, 2026, at 11:30 a.m. IST, to be held through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The AGM Notice, approved by the Board of Directors at its meeting held on July 28, 2026, has been dispatched electronically to members and is also available on the company's website at www.trualtbioenergy.com . The cut-off date for e-voting eligibility is Tuesday, August 25, 2026, with remote e-voting open from Thursday, August 27, 2026 at 9:00 a.m. to Sunday, August 30, 2026 at 5:00 p.m.

AGM Agenda at a Glance

The 5th AGM will transact both ordinary and special business. The following table summarises the key agenda items:

FY 2025-26 Financial Performance

FY 2025-26 marked the company's first full year as a listed entity following its IPO in October 2025. The year was characterised by planned operational transitions, including the conversion of three distilleries from mono-feed to dual-feed configurations, which temporarily moderated revenue and profitability.

Standalone Financial Highlights

The following table presents key standalone financial metrics for FY 2025-26 compared to FY 2024-25 (amounts in ₹ lakhs):

Standalone revenue from operations declined by approximately 9.33% over FY 2024-25, primarily attributable to a sharp reduction in lifting by Oil Marketing Companies (OMCs) despite operational readiness and available production capacity. The Profit After Tax decreased by approximately 43.09% over FY 2024-25, driven by higher finance costs from additional working capital facilities and increased depreciation following the capitalisation of grain-based plants totalling 1,300 KLPD.

Consolidated Financial Highlights

The following table presents key consolidated financial metrics (amounts in ₹ lakhs):

Consolidated revenue from operations declined by approximately 9.45% over FY 2024-25. Net Working Capital on a consolidated basis stood at ₹61,629.89 lakhs in FY 2025-26, as against ₹16,780.42 lakhs in FY 2024-25, primarily on account of an increase in inventories of ₹31,821.96 lakhs and an increase in trade receivables of ₹6,684.18 lakhs, partly offset by a reduction in trade payables of ₹21,359.46 lakhs.

Key Strategic Developments During FY 2025-26

The year witnessed several significant milestones across the company's diversified bioenergy platform:

• IPO Completion: The company successfully listed on NSE and BSE on October 3, 2025, with the IPO oversubscribed approximately 75.02 times. The fresh issue raised ₹75,000 lakhs, with utilisation of ₹72,021 lakhs as on March 31, 2026.
• Dual-Feed Capacity Commissioning: Approximately 1,300 KLPD of grain-based dual-feed capacity was commissioned across Units 1, 2, and 4, converting nearly 65% of installed ethanol capacity into a flexible dual-feed platform.
• CBG Joint Ventures: Strategic joint ventures were entered into with GAIL (India) Limited (through Leafiniti Bioenergy Private Limited) and Sumitomo Corporation (through TruAlt Gas Private Limited) for the development of Compressed Biogas plants. Construction is underway for 4 CBG plants under TruAlt Gas, with 6 additional plants under Leafiniti Bioenergy progressing towards construction.
• SAF Project Progress: The proposed 310 KLPD Sustainable Aviation Fuel facility at Srikakulam, Andhra Pradesh, received a ₹150 crore grant under the PM JI-VAN Yojana. The project is progressing towards the Front-End Engineering Design (FEED) stage with Honeywell UOP.
• Retail Fuel Network: The company operated 7 retail fuel outlets during the year, with 4 additional outlets under construction and approximately 76 locations shortlisted for future expansion.
• Credit Rating: CRISIL Ratings reaffirmed its credit rating of "CRISIL A-/Stable" on the company's long-term bank facilities on October 28, 2025. Subsequently, India Ratings assigned "IND A-/Stable/IND A2+" to bank loan facilities of INR17,660 million on April 27, 2026.

Director Profile: Mr. Vishal Nirani

Mr. Vishal Nirani, proposed for re-appointment at the AGM, holds the following profile:

Secretarial Auditor Appointment

Mr. Deepak Sadhu, Practicing Company Secretary (ACS: 39541, COP: 14992, Peer Review No: 2387/2022), is proposed as Secretarial Auditor for a term of five consecutive years from FY 2026-27 to FY 2030-31. His proposed fees are ₹1,50,000 per year plus applicable taxes and out-of-pocket expenses. Mr. Sadhu has over 11 years of professional experience in corporate laws, governance, secretarial audit and transaction advisory, and has served as advisor to 150+ companies.

Dividend

The Board has not recommended any dividend for FY 2025-26, considering the capital-intensive nature of the business and the company's growth plans.

Members eligible to attend the AGM are those whose names appear in the register of members as on the cut-off date of August 25, 2026. Shareholders may register as speakers by writing to cs@trualtbioenergy.com between Monday, August 24, 2026 (9:00 a.m. IST) and Wednesday, August 26, 2026 (5:00 p.m. IST). The e-voting facility is provided by National Securities Depository Limited (NSDL), and the scrutinizer for the voting process is Mr. Deepak Sadhu.