TruAlt is primarily engaged in biofuels such as 1G ethanol, 2G ethanol, compressed biogas, sustainable aviation fuel, fermented organic fertilizer and green hydrogen.
The company operates five 1G ethanol plants with a capacity of 2 million liters per day, making it the largest ethanol producer in the country, while compressed biogas capacity is 10 tonnes per day.
“We plan to increase our biofuel capacity by 2.7 million tonnes per day. We will set up 10 more plants so that we will have a total of 15 plants and we expect to invest around Rs 600 million for this. These plants will be set up at Bijapur in Karnataka Pune and should be commissioned in the next financial year,” Vijay Nirani, founder and managing director of TruAlt, told PTI.
The land for these crops has already been identified, he added.
The company's existing plants are also located in Bijapur and Pune.
In the last fiscal, the company had clocked a turnover of Rs 1,170 crore but has grown exponentially to reach around Rs 700 crore in the first half of this fiscal. And Nirani expects revenue growth of at least 30 percent and a net margin of around 18 to 20 percent this fiscal.
GAIL will hold 49 percent in the joint venture called Leafinti Bioenergy and TruAlt will own the remaining 51 percent. The investment, a mix of debt and equity, is subject to due diligence and regulatory approvals.
Each plant will process 10,000 kg of organic waste and produce 1,00,000 kg of compressed biogas daily. The initiative will also produce solid fermented organic manure and liquid fermented organic manure.
Nirani said the massive expansion is due to two reasons: the plants are running at over 90 percent capacity and secondly, massive growth in demand as the government pushes blending of ethanol and other biofuels.
He also said that the next growth markets are his home state of Karnataka, Maharashtra and Odisha.
Regarding the sustainable aviation fuel plan, he said the company, which is 100% owned by him and his family, has already signed a non-disclosure agreement with some airlines.
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