True Green Bio Energy Limited has disclosed the creation of pledges on equity shares by two of its promoter group entities under SEBI regulations. The company informed BSE Limited on December 19, 2025, about the pledge arrangements made by Chiripal Exim LLP and Devkinandan Corporation LLP for working capital facility purposes.

Pledge Details by Promoter Groups

Both promoter group entities created their respective pledges on November 6, 2025, with True Green Bio Energy Limited serving as the pledgee in both cases. The pledges were established to facilitate working capital requirements for the respective entities.

Post-Transaction Shareholding Position

Following these pledge transactions, the cumulative pledged shareholdings of both promoter group entities have been updated:

• Chiripal Exim LLP's total pledged shares: 57.41 lakh equity shares

  • 17.42% of the promoter group shareholding
  • 18.92% of the company's total share capital

• Devkinandan Corporation LLP's total pledged shares: 45.57 lakh equity shares

  • 13.83% of the promoter group shareholding
  • 16.26% of the total share capital

Regulatory Compliance

The disclosure was made pursuant to Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates the disclosure of creation of pledges by promoter groups. The company, formerly known as CIL Nova Petrochemicals Limited, maintains its registered office and factory at Moraiya Village, Sarkhej-Bavla Highway, Ahmedabad, Gujarat.

The pledge arrangements demonstrate the promoter groups' commitment to supporting working capital requirements while maintaining transparency with regulatory authorities and stakeholders through timely disclosures.

True Green Bio Energy Limited (formerly CIL Nova Petrochemicals Ltd.) has reported an increase in profit for the quarter ended September 30, alongside the commencement of operations at its new ethanol plant. The company's financial results and operational updates indicate growth and expansion.

Financial Performance

True Green Bio Energy saw a rise in its quarterly profit, reporting Rs 85.57 lakhs for Q2, compared to Rs 38.18 lakhs in the same period last year. This represents a year-on-year growth of approximately 124%. The company's total income for the quarter stood at Rs 310.97 lakhs.

Key Financial Highlights

Despite the increase in profit, the total income saw a decline compared to the same quarter last year. This could be attributed to various factors, including the company's transition into new business segments.

Operational Highlights

A major development for True Green Bio Energy is the commencement of commercial operations at its new 300 KLPD (Kilo Liters Per Day) grain-based ethanol plant in Ahmedabad, Gujarat. This marks a step in the company's expansion into the ethanol manufacturing sector, potentially opening up new revenue streams and market opportunities.

Capital Raising

During the quarter, True Green Bio Energy raised Rs 212.5 crores through equity share allotment. The company allotted 30,35,714 equity shares at a price of Rs 70 per share, amounting to Rs 21,24,99,980. This capital infusion may support the company's growth initiatives and operational expansion.

Segment Performance

The company has identified ethanol manufacturing as a separate business segment, reflecting its strategic shift. For the quarter:

• Ethanol segment revenue: Rs 233.56 lakhs
• Yarn segment revenue: Rs 73.43 lakhs

This segmentation indicates True Green Bio Energy's diversified approach to its business operations.

Balance Sheet

As of September 30, True Green Bio Energy reported:

• Total Assets: Rs 40,358.48 lakhs
• Total Equity: Rs 12,802.04 lakhs

True Green Bio Energy's Q2 results demonstrate a company in transition, with profit growth and strategic moves into the ethanol sector. The commencement of the new ethanol plant operations and capital raising efforts position the company for potential future growth. However, investors should note the decline in total income and monitor how the company leverages its new ethanol manufacturing capabilities in the coming quarters.