True Green Bio Energy Limited , formerly known as CIL Nova Petrochemicals Limited, has scheduled its 22nd Annual General Meeting for September 29, 2026, at 4:00 pm via Video Conferencing and Other Audio Visual Means.

The company fixed September 22, 2026 as the record date to determine shareholder eligibility for e-voting, pursuant to Regulation 42 of the Listing Regulations. The record date applies to equity shareholders entitled to participate in both remote e-voting and e-voting conducted at the venue of the AGM. The intimation was filed with BSE Limited.

AGM and record date details

The following table summarises the key details of the meeting and voting eligibility:

Annual report access and shareholder communication

In accordance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has sent a letter to shareholders whose email addresses are not registered with the company, its Registrar and Share Transfer Agent, or Depository Participants. The letter provides a weblink to the company's website where the Annual Report and Notice of the 22nd AGM for FY 2025-26 can be accessed.

The company's Registrar and Share Transfer Agent is MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited. Shareholders holding securities in physical mode have been reminded to update their KYC details, including PAN, address with PIN code, mobile number, bank account details, specimen signature, and nomination choice, pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. The circular also mandates that security holders in physical mode whose folios lack updated PAN, nomination choice, contact details, bank account details, and specimen signature will be eligible for payments only through electronic mode with effect from April 1, 2024.

Siddhi Shah, Company Secretary (Membership No. A44885), signed the intimation filed with BSE Limited on September 8, 2026. An earlier intimation related to the record date was signed by Jyotiprasad Devkinandan Chiripal, Director, and filed on September 7, 2026.

True Green Bio Energy Limited reported a full-year net profit of ₹313.3 crore for FY26, marking a significant turnaround from a net loss of ₹21.9 crore in the previous fiscal year. The company's revenue from operations surged to ₹2,837 crore, up from ₹233 crore in FY25, driven by the commencement of commercial operations at its new ethanol plant.

The board has not recommended a dividend for the financial year, opting instead to plough back profits for future growth and development. The company also held its 22nd Annual General Meeting on September 29, 2026, where shareholders approved related party transactions and the appointment of new independent directors.

Financial Performance

The company's financial results reflect the impact of its transition into ethanol manufacturing. Revenue from operations jumped significantly as the grain-based ethanol plant began dispatching sizable volumes to major oil marketing companies.

Operating expenditure stood at ₹2,358 crore, while depreciation expenses rose to ₹62.4 crore from ₹15.4 crore in the prior year. Finance costs increased substantially to ₹128 crore, reflecting higher borrowing levels to fund the new business line.

What the Numbers Show

The turnaround in profitability is directly linked to the operational ramp-up of the ethanol facility. Revenue grew more than tenfold, while operating expenses scaled proportionately but less sharply, leading to an expansion in profit before tax to ₹420 crore from a loss of ₹12.2 crore. This divergence indicates that the new plant is generating substantial operating leverage relative to its cost base.

Balance Sheet and Capital Structure

Total assets expanded to ₹5,577 crore from ₹3,123 crore in FY25, primarily due to capitalization of property, plant, and equipment. Non-current borrowings rose to ₹2,273 crore, while current borrowings increased to ₹1,131 crore. The debt-equity ratio improved slightly to 2.14 from 1.50, though total debt nearly doubled to support the capital-intensive ethanol operations.

Cash and cash equivalents increased to ₹190.9 crore from ₹28 crore, providing a stronger liquidity buffer. Trade receivables surged to ₹736.6 crore, reflecting the scale-up in sales volume to oil marketing companies under long-term supply agreements.

Corporate Developments

During the year, the company allotted 30.4 lakh equity shares upon conversion of warrants, increasing paid-up capital to ₹329.6 crore. The board composition saw changes with the resignation of Whole Time Director Rajan Srivastava and the appointment of Pradeep Mantri. Ms. Trusha Shah was appointed as an independent director for a five-year term.

The company also constituted a Corporate Social Responsibility Committee and adopted a new CSR policy effective August 13, 2026, as it now meets the threshold criteria for mandatory CSR spending.