Godavari Biorefineries Commissions ₹130 Cr 200 KLPD Grain Distillery to Boost Ethanol Capacity

Synopsis: Godavari Biorefineries Limited has commenced operations of its 200 Kilolitres Per Day (KLPD) corn/grain-based distillery at its Sameerwadi unit, marking a significant expansion of its ethanol manufacturing capacity. 

The Rs 130 crore project gives the company dual-feedstock capability, enabling ethanol production from both sugarcane juice/syrup and grain, which improves operational flexibility and strengthens its position in India’s ethanol blending programme.

Godavari Biorefineries Limited is currently trading over 2 percent higher during the session. The stock opened at Rs 281 and struck a day high of Rs 285.75, and a day’s low so far is Rs 278. The current market capitalisation of the company is Rs 1,454 crore and is trading at a p/e ratio of 43.2, similar to the industry peer median of 43.24.

Ethanol plants typically rely on a single feedstock for production. With the commissioning of the new distillery, Godavari Biorefineries can now produce ethanol from both sugarcane and grain, ensuring more stable operations even during periods of lower sugarcane availability and improving overall plant utilization.

The Rs 130 crore expansion, commissioned on June 29, 2026, transforms the Sameerwadi unit into a dual-feedstock ethanol facility. The project has been financed through a combination of internal accruals and debt, balancing growth investments while maintaining prudent financial discipline.

The expansion strengthens the company’s ability to meet rising ethanol demand under India’s ethanol blending programme by providing a more resilient and flexible production model. It also enhances Godavari Biorefineries’ capability to secure long-term supply opportunities with oil marketing companies through year-round ethanol availability. It turns renewable agricultural feedstocks into value-added biofuels and sustainable chemicals for domestic and international markets.

Financial Highlights

Godavari Biorefineries Limited reported revenue from operations of Rs 564 crore in Q4 FY26, compared to Rs 460 crore in Q3 FY26 and Rs 580 crore in Q4 FY25. Revenue increased by 22.60 percent quarter-on-quarter but had a subtle decrease of 2.75 percent year-on-year.

The company reported a net profit of Rs 53 crore in Q4 FY26, compared to Rs 8 crore in the previous quarter, registering a sharp growth of 562.5 percent. However, on a year-on-year basis, net profit declined 26.4 percent from Rs 72 crore reported in Q4 FY25. Earnings per share (EPS) also improved significantly to Rs 10.33 from Rs 1.61 in the previous quarter, although it remained lower than Rs 14.06 recorded in Q4 FY25.

In terms of return ratios, the company reported a ROCE of 6.55 percent and ROE of 4.28 percent, reflecting relatively modest returns on capital employed and shareholders’ equity. The debt-to-equity ratio stood at 0.67x, indicating a moderate level of leverage on the company’s balance sheet.

Company Overview

Godavari Biorefineries Limited is one of India’s integrated bio-refineries engaged in the manufacturing of ethanol, bio-based chemicals, sugar, power, and specialty products. The company focuses on converting renewable agricultural feedstocks into value-added biofuels and sustainable chemical products serving domestic as well as international markets.

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