Trualt Bioenergy Limited shareholders have approved material related party transactions with Nirani Sugars Limited for the financial year 2026-27. The resolution, which authorizes an aggregate transaction value of up to ₹2,500 Crores, was passed with 99.98% of votes in favour. This approval allows the company to continue existing contracts and enter into new arrangements for the purchase and sale of goods and materials with the related party.

The postal ballot process, conducted through remote e-voting, concluded on July 9, 2026. A total of 62,51,964 votes were polled, with 62,50,561 shares voting in favour and 1,403 voting against. The resolution required approval pursuant to Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the provisions of the Companies Act, 2013.

The voting results were scrutinized by Mr. Deepak Sadhu, a Practicing Company Secretary appointed by the Board. He confirmed that the resolution was passed with the requisite majority. The e-voting period commenced on June 10, 2026, and the results were unblocked in the presence of independent witnesses.

Voting Results Summary

The Board of Directors had approved the postal ballot notice on May 22, 2026. The notice was dispatched electronically on June 8, 2026, and advertisements were published in the Financial Express and Vishwavani on June 9, 2026. The record date for determining eligibility was June 5, 2026, with a total of 64,689 shareholders on record.

The resolution text specifies that all transactions will be conducted at arm’s length and in the ordinary course of business. The Board is authorized to delegate powers to any Director or Key Managerial Personnel to execute necessary agreements and documents to give effect to this resolution.

TruAlt Bioenergy Limited reported a consolidated net profit of ₹9,686.98 lakh for the financial year ended March 31, 2026, a decrease from ₹14,663.85 lakh in the previous year. Revenue from operations for the year stood at ₹1,72,750.66 lakh, compared to ₹1,90,772.40 lakh in FY25. The company's board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 22, 2026.

The standalone net profit for FY26 was ₹8,003.00 lakh, down from ₹14,061.53 lakh in the prior year, while standalone revenue from operations was ₹1,70,465.34 lakh. For the quarter ended March 31, 2026, the company reported a consolidated net profit of ₹6,094.97 lakh and a standalone net profit of ₹5,673.15 lakh. The statutory auditors, N. M. Raiji & Co., issued an unmodified report on the results.

Financial Performance

The company's total comprehensive income for the consolidated year ended March 31, 2026, was ₹9,710.18 lakh, a decrease from ₹14,664.25 lakh in FY25. Basic earnings per share (EPS) for the year stood at ₹12.30 on a consolidated basis, down from ₹20.94 in the previous year. The finance costs for the year increased to ₹16,002.41 lakh from ₹14,361.10 lakh in the prior year.

Operational Highlights

TruAlt Bioenergy developed dual-feed capabilities to mitigate seasonality in the ethanol business, enabling the use of maize and rice during periods when sugarcane-based raw materials are unavailable. The company installed dual-feed capacities at Unit 1 in November 2025, Unit 2 in February 2026, and Unit 4 in January 2026. Unit 5 remained non-operational pending receipt of the requisite Consent to Operate (CTO).

The Karnataka High Court allowed a writ petition filed by the company regarding a shortfall in ethanol supply to Oil Marketing Companies (OMCs). The court directed respondents to consider the company's representation for a 90-day timeline extension to fulfill the remaining supply, valued at approximately ₹1,075 crore. Management expects to complete the delivery within the extended period.

Strategic Developments

Pursuant to a joint venture agreement, Sumitomo Corporation acquired a 49% equity interest in TruAlt Gas Private Limited on April 16, 2026. Additionally, GAIL (India) Limited acquired a 49% stake in Leafiniti Bioenergy Private Limited on March 18, 2026. The company also entered into an agreement with Honeywell in January 2026 to deploy Ethanol-to-Jet (ETJ) process technology for a sustainable aviation fuel production facility with an envisaged capacity of approximately 80,000 tonnes per annum.