Godavari Biorefineries Limited (GODAVARIB)
₹236.46 -1.61% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Godavari Biorefineries' revenue was ₹558 Cr (+4.7% year on year, -1.1% on the previous quarter), and net profit ₹-19.3 Cr (a bigger loss than a year earlier); the operating margin was 0.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹558 | +4.7% | -1.1% |
| Operating profit | ₹0.5 | -91.3% | -99.4% |
| Net profit | ₹-19.3 | loss widened | to loss |
| EPS (₹) | -3.78 | loss widened | to loss |
| Operating margin | 0.1% | — | — |
GODAVARIB delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 30.19% of the GODAVARIB shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.74%. That is close to its usual level. Volume was 0.3 times its average, well below normal. 8 bulk or block deals were reported in GODAVARIB in the last 60 days: ₹33 Cr bought and ₹33 Cr sold.
Delivery in the last 5 sessions: 77.2% · 55.0% · 32.1% · 3.8% · 30.2%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 15 Oct | Sell | J4S Financial Solutions Llp | ₹10.20 Cr | ₹252.02 | 404,571 | Bulk |
| 15 Oct | Buy | J4S Financial Solutions Llp | ₹10.18 Cr | ₹251.62 | 404,571 | Bulk |
| 15 Oct | Sell | Nk Securities Research Private Limited | ₹9.03 Cr | ₹252.66 | 357,452 | Bulk |
| 15 Oct | Buy | Nk Securities Research Private Limited | ₹9.03 Cr | ₹252.53 | 357,452 | Bulk |
| 15 Oct | Sell | Microcurves Trading Private Limited | ₹6.90 Cr | ₹253.60 | 271,932 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Godavari Biorefineries Limited announced that it has been granted a US patent titled '5-HYDROXY-1,4-NAPHTHALENEDIONE FOR USE IN THE TREATMENT OF CANCER'. The patent protects a novel class of compounds that inhibit cancer and cancer stem cells, showing potential against breast and prostate cancers. While this aligns with the company's strategic push into pharma through Sathgen Therapeutics, no commercialization timeline or financial outlay was disclosed. Commercial monetization remains a long-term prospect given the early nature of oncology drug pipelines.
- Granted US patent entitled '5-HYDROXY-1,4-NAPHTHALENEDIONE FOR USE IN THE TREATMENT OF CANCER'
- Patent covers novel compounds targeting cancer and cancer stem cells, notably breast and prostate cancer
- Filing announced under Regulation 30 on October 14, 2026
- Commercialization timeline and monetary impact are not disclosed
Godavari Biorefineries Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent MUFG Intime India Private Limited confirms that share certificates received for dematerialisation during the quarter were duly processed, verified, and cancelled. It also confirms that the depositories were substituted as registered owners within prescribed timelines. This is a recurring administrative compliance filing with no impact on business operations or financials.
- Compliance certificate submitted under Regulation 74(5) of SEBI regulations
- Applicable for the quarter ended 30th September 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on 7 October 2026
- Confirms dematerialisation, mutilation, and cancellation of securities within prescribed timelines
Godavari Biorefineries Limited has been granted a patent by the Mexican Patent Office for the 'USE OF COMPOUNDS FOR TREATING VIRAL INFECTIONS'. The patent covers compounds for inhibiting V-ATPase activity in cells and their application in manufacturing medicaments for viral treatments. While this supports the company's long-term push into specialty bio-chemicals and pharmaceuticals, no immediate commercialization terms or financial figures were disclosed. Given Godavari's TTM revenue of ₹2,013 Cr, any near-term financial impact remains negligible.
- Mexican Patent Office granted patent application on October 02, 2026
- Patent title: 'USE OF COMPOUNDS FOR TREATING VIRAL INFECTIONS'
- Invention focuses on inhibiting V-ATPase cellular activity for medicament manufacturing
- Commercialization timeline and immediate revenue potential are not disclosed
Godavari Biorefineries Limited has notified the stock exchanges that its trading window will remain closed starting October 1, 2026. The closure applies to Directors, KMPs, Designated Persons, and their immediate relatives pursuant to SEBI Insider Trading Regulations. The window will reopen 48 hours after the declaration of the unaudited financial results for the quarter and half year ended September 30, 2026. The specific date for the board meeting to consider these results will be intimated separately.
- Trading window closes effective October 1, 2026
- Window to reopen 48 hours post declaration of financial results for Q2 FY27 (period ending September 30, 2026)
- Closure applies to Directors, KMPs, and designated insiders under SEBI regulations
- Board meeting date to declare results will be intimated in due course
Godavari Biorefineries Limited has received a patent grant from the Chinese Patent Office for its application titled 'USE OF COMPOUNDS FOR TREATING VIRAL INFECTIONS'. The patent relates to compounds inhibiting V-ATPase activity in cells and their application in manufacturing medicaments for viral treatments. The patent was originally applied for on May 10, 2021, and officially granted on September 15, 2026. This intellectual property aligns with the company's stated strategic push into bio-based specialty chemicals and pharmaceutical development.
- Patent application granted by Chinese Patent Office on September 15, 2026
- Patent Application No. ZL 2021 8 0048053.9 filed originally on May 10, 2021
- Patent Certificate Number is 9271298 with Authorization Announcement Number CN 115867276 B
- Invention targets the inhibition of V-ATPase activity in cells for viral infection medicaments
Godavari Biorefineries has been granted a patent by the European Patent Office for its invention titled 'A Biofiller for Rubber Reinforcement'. The patented technology provides an eco-friendly, biodegradable biofiller aimed at partially replacing conventional carbon black in tyres, footwear, belts, and other industrial rubber applications. While this strengthens the company's bio-based specialty chemicals portfolio, commercialization timelines, capex requirements, and financial contribution were not disclosed.
- European Patent Office granted patent titled 'A Biofiller for Rubber Reinforcement'
- Technology designed to partially replace carbon black while maintaining mechanical properties
- Target applications include tyres, footwear, belts, bags, and industrial rubber products
- Announcement released on September 05, 2026
Godavari Biorefineries Limited has informed the exchanges regarding the dispatch of letters to shareholders whose email IDs are not registered. The communication provides the web link to access the Annual Report for FY 2025-26. It also details the schedule for the 71st Annual General Meeting (AGM) to be held on September 28, 2026, via video conferencing, alongside reminders to update KYC details in line with SEBI circulars.
- 71st Annual General Meeting scheduled for Monday, September 28, 2026 at 11:30 AM IST via Video Conferencing.
- Cut-off date for dispatch of the notice to unregistered email holders was August 28, 2026.
- Web link for the FY26 Annual Report provided to physical/unregistered email security holders pursuant to Regulation 36(1)(b).
- Shareholders reminded to update mandatory KYC details per SEBI Master Circular dated May 07, 2024.
Godavari Biorefineries Limited has issued the notice for its 71st Annual General Meeting scheduled for September 28, 2026. Key agenda items include the adoption of FY26 audited financial statements and director re-appointments. Shareholders will also vote on the re-appointment and remuneration of Managing Director Samir S. Somaiya and Executive Director Suhas Godage for 3-year terms starting April 1, 2027, along with appointing Dinesh Sharma as Executive Director (Works-Sameerwadi).
- 71st Annual General Meeting scheduled for September 28, 2026 at 11:30 a.m. via VC/OAVM
- Approval sought for re-appointment and remuneration of MD Samir S. Somaiya for 3 years (April 1, 2027 to March 31, 2030)
- Approval sought for appointment of Dinesh Sharma as Whole Time Director / ED (Works-Sameerwadi) for 3 years
- Ratification of Cost Auditor remuneration of Rs 6,40,000 per annum for FY27
Godavari Biorefineries has received a Show Cause Notice on August 28, 2026, from the Commercial Tax Officer (Enforcement), DGSTO, Jamkhandi, Karnataka, for the tax period 2022-23. The total demand amounts to ₹18.13 crore, comprising ₹10.57 crore in core GST demand, ₹6.50 crore in interest, and ₹1.06 crore in penalties under Section 73 of the CGST/KGST Act. The notice alleges short payment and ineligible Input Tax Credit (ITC) utilization. The company is evaluating the financial impact and plans to file replies and appeals as advised.
- Total demand of ₹18,12,85,079 issued under Section 73(1) of the CGST/KGST Act, 2017.
- Core tax demand of ₹10,57,05,586 includes IGST (₹5.13 Cr), CGST (₹2.69 Cr), SGST (₹2.69 Cr), and Cess (₹0.06 Cr).
- Applicable interest assessed at ₹6,50,08,935 alongside a penalty of ₹1,05,70,559.
- Notice pertains to alleged short payment and ineligible ITC availed/utilised during FY 2022-23.
Godavari Biorefineries has received a Show Cause Notice from the Assistant Commissioner of Central GST, Belagavi, Karnataka, demanding ₹17.02 Cr. The dispute pertains to the alleged non-payment of GST on the supply of Extra Neutral Alcohol (ENA) to Karnataka State Beverages Corporation Ltd. (KSBCL) between FY2021-22 and October 2024. The demand consists of ₹8.51 Cr CGST and ₹8.51 Cr SGST under Section 74(1) of the CGST/SGST Act. The company is examining the notice and plans to submit replies and appeals as advised.
- Total GST demand of ₹17,02,29,150 (~₹17.02 Cr) issued by CGST Audit, Belagavi.
- Split equally into CGST of ₹8,51,14,575 and SGST of ₹8,51,14,575.
- Dispute relates to ENA supplies treated as 'exempted supply' to KSBCL from 2021-22 to October 2024.
- Demand of ₹17.02 Cr is material relative to FY26 net profit of ₹3.25 Cr (~0.85% of TTM revenue).
Godavari Biorefineries reported Q1 FY27 revenue of ₹557.9 Cr, up 4.6% YoY, though EBITDA margins contracted to 0.5% from 1.2% due to high inventory carrying costs. A major milestone was the commissioning of a 200 KLPD grain-based distillery, bringing total capacity to 800 KLPD and providing feedstock flexibility. The company announced a fresh ₹25 Cr investment for debottlenecking its bio-based chemicals segment, which saw 19.4% revenue growth. Additionally, the company is moving into clinical trials for an anticancer molecule in Q3 FY27 after securing a Japanese patent.
- Commissioned a 200 KLPD grain-based distillery at Sameerwadi, increasing total distillery capacity to 800 KLPD.
- Bio-based chemicals segment delivered 19.4% YoY revenue growth and a 53% increase in EBITDA.
- Announced ₹25 Cr new capex for debottlenecking specialty chemical capacity to meet growing export and domestic demand.
- Secured a Japanese patent for a novel anticancer molecule with clinical trials expected to start in Q3 FY27.
- Allocated ₹20 Cr over the next 30-33 months for drug discovery and safety trials.
Godavari Biorefineries has been granted a patent (EP4404920) by the European Patent Office for a novel pharmaceutical composition targeting breast and prostate cancers. The invention focuses on enhancing the solubility and bioavailability of anti-cancer compounds for oral administration. This development aligns with the company's strategic shift toward high-value specialty chemicals and pharmaceuticals to diversify from its core sugar and ethanol business, which currently accounts for 67% of revenue. While the TTM PAT stands at a thin Rs 3 Cr, successful commercialization of such IP could significantly impact long-term margins.
- European Patent Office granted patent EP4404920 on July 15, 2026, for oncology-focused compositions.
- The patent covers novel anti-cancer compounds combined with solubilising agents for improved oral bioavailability.
- Targets high-value therapeutic areas including breast and prostate cancer management.
- Supports the company's expansion strategy following the USD 350,000 acquisition of Sathgen Therapeutics in November 2025.
- Aims to improve the current operating profit margin (OPM) of 6.4% by moving into high-margin pharmaceutical IP.
Godavari Biorefineries has made the audio recording of its Q1 FY27 earnings conference call available to the public as of August 7, 2026. This follows a period where the company reported TTM revenue of Rs 1,988 Cr but a very thin TTM PAT of only Rs 3 Cr. The call likely covers management's strategy for its 18,000 TCD crushing capacity and 600 KLPD distillery operations. Investors can use this recording to gauge management's outlook on the Ethanol Blending Program and debt reduction plans, given the current debt of Rs 525 Cr.
- Audio recording of Q1 FY27 earnings call released on August 7, 2026
- Company maintains a TTM revenue of Rs 1,988 Cr with a low OPM of 6.4%
- Current debt stands at Rs 525 Cr against a net worth of Rs 773 Cr
- Crushing capacity recently expanded to 18,000 TCD from 15,000 TCD
- Distillery capacity stands at 600 KLPD, up from 400 KLPD
Godavari Biorefineries has made the audio recording of its Q1 FY27 earnings conference call available to the public as of August 07, 2026. This follows a period where the company reported TTM revenue of ‡1,988 Cr and a thin TTM PAT of ‡3 Cr. The recording provides management's perspective on the sugar and ethanol segments, which combined account for 67% of revenue. Investors can use this to gauge progress on the 2G ethanol and Bio-CNG projects mentioned in previous strategy updates.
- Audio recording for Q1 FY27 earnings call released on August 07, 2026
- Company maintains a crushing capacity of 18,000 TCD and distillery capacity of 600 KLPD
- TTM PAT stands at ‡3 Cr against a market capitalization of ‡1,210 Cr
- TTM Revenue reported at ‡1,988 Cr with an operating margin of 6.4%
Godavari Biorefineries reported a 4.9% YoY increase in total income to ₹559.9 Cr for Q1 FY27, though EBITDA margins contracted to 0.5% resulting in a net loss of ₹19.3 Cr. The Bio-based Chemicals segment showed strong growth with a 53% YoY increase in EBITDA to ₹19.2 Cr, reflecting a shift toward higher-value products. A key milestone was the commissioning of a 200 KLPD grain-based distillery, bringing total capacity to 800 KLPD and enabling dual-feedstock flexibility. Additionally, the company secured a Japanese patent for a novel anti-cancer molecule, signaling a pivot toward high-value drug discovery.
- Commissioned 200 KLPD grain-based distillery, increasing total distillery capacity to 800 KLPD
- Bio-based Chemicals revenue grew 19.8% YoY to ₹168.7 Cr with EBITDA margins expanding to 11.4%
- Total Income for Q1 FY27 stood at ₹559.9 Cr compared to ₹534.0 Cr in Q1 FY26
- Net Loss widened to ₹19.3 Cr from a loss of ₹16.0 Cr in the previous year's quarter
- Planned incremental capex of ₹25 Cr for further debottlenecking in the specialty chemicals segment
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 10.88% YoY to INR 1,870.25 Cr in FY25. Segment-wise standalone growth: Sugar segment grew 26% to INR 682.15 Cr; Bio-based Chemicals grew 6.8% to INR 539.07 Cr; Distillery grew 4.1% to INR 584.95 Cr; Cogeneration grew 9.7% to INR 46.99 Cr.
Geographic Revenue Split
The company operates through subsidiaries in the Netherlands (Godavari Biorefineries B.V.) and the USA (Godavari Biorefineries Inc.), though specific percentage splits by region are not disclosed in available documents.
Profitability Margins
Gross margin expanded from 15% in H1 FY25 to 20% in H1 FY26, an improvement of 5% due to a better product mix. Standalone operating profit margin for FY25 was 3.76% compared to 5.22% in FY24. Net profit ratio was near 0% in FY25 due to one-time tax impacts.
EBITDA Margin
Consolidated EBITDA for FY25 was INR 120.31 Cr (6.4% margin), down 18.67% from INR 147.93 Cr (8.8% margin) in FY24. However, H1 FY26 showed recovery with EBITDA of INR 2.1 Cr compared to a loss of INR 41 Cr in H1 FY25.
Capital Expenditure
The company recently enhanced cane crushing capacity from 15,000 TCD to 18,000 TCD and distillery capacity from 400 KLPD to 600 KLPD. Specific historical and planned INR Cr values for future capex are not disclosed.
Credit Rating & Borrowing
Credit rating upgraded in January 2025 to CARE BBB+; Stable (Long-term) and CARE A2 (Short-term). Finance costs for FY25 were INR 71.61 Cr, down 5.16% YoY from INR 75.51 Cr due to debt reduction.
Operational Drivers
Raw Materials
Sugarcane is the primary feedstock. Grains are used as alternative feedstock for dual-feed distilleries. Cost of materials consumed was INR 1,242.31 Cr in FY25, representing 67% of standalone revenue.
Import Sources
Sugarcane is sourced locally from farmers near the Sameerwadi unit in Karnataka and Maharashtra. Grains are also sourced domestically.
Key Suppliers
Not disclosed in available documents, though the company notes dependence on a few suppliers for non-sugarcane raw materials.
Capacity Expansion
Current crushing capacity is 18,000 TCD (up from 15,000 TCD) and distillery capacity is 600 KLPD (up from 400 KLPD). Planned expansion includes de-bottlenecking and 2G ethanol projects.
Raw Material Costs
Raw material costs decreased 18.9% YoY to INR 1,242.31 Cr in FY25 from INR 1,532.12 Cr in FY24, reflecting improved procurement and inventory management.
Manufacturing Efficiency
Record sugarcane crushing of 24.65 Lakh tons at the Sameerwadi unit in FY25 boosted ethanol output and distillery performance.
Strategic Growth
Expected Growth Rate
14%
Growth Strategy
Growth will be driven by expanding high-value bio-based specialty chemicals, de-bottlenecking existing units, restoring the Ethanol Blending Program, and reducing finance costs through debt reduction. The company is also expanding into pharmaceutical marketing via its new US subsidiary, Sathgen Therapeutics.
Products & Services
Sugar, Ethanol, Bio-based Chemicals (Ethyl Acetate, MPO), Power (Cogeneration), and pharmaceutical marketing services.
Brand Portfolio
Jivana
New Products/Services
2G ethanol, Bio-CNG, and pharmaceutical drugs developed by Godavari Biorefineries Ltd.
Market Expansion
Expansion into the USA market through the acquisition of Sathgen Therapeutics, LLC for pharmaceutical business development.
Strategic Alliances
Collaborations with research institutions for R&D and agile product development.
External Factors
Industry Trends
The industry is shifting toward sustainable, bio-based alternatives to petroleum-based chemicals. The restoration of India's Ethanol Blending Program is a major positive driver for distillery volumes.
Competitive Landscape
Faces intense competition from neighbouring sugar mills and global chemical producers, leading to pricing pressure.
Competitive Moat
Moat is built on a fully integrated biorefinery model and dual-feedstock capability, allowing the company to switch between sugar and ethanol production based on market prices, which is highly sustainable.
Macro Economic Sensitivity
Highly sensitive to agroclimatic conditions; droughts or excessive rain can impact sugarcane availability by significant percentages.
Consumer Behavior
Increasing demand for green and sustainable chemicals is driving the Bio-based Chemicals segment growth (+6.8% in FY25).
Geopolitical Risks
Trade barriers and global policy shifts regarding bio-based chemicals and ethanol exports.
Regulatory & Governance
Industry Regulations
Operations are governed by government policies on ethanol blending mandates, sugar export quotas, and environmental pollution norms for distilleries.
Environmental Compliance
The company maintains a robust ESG framework and published a Sustainability Report for FY25, though specific compliance costs are not disclosed.
Taxation Policy Impact
Effective tax rate was impacted by a one-time deferred tax expense in FY25 due to remeasurement of tax assets following the Finance Act, 2024.
Risk Analysis
Key Uncertainties
Sugarcane availability due to climate change (impact could be >20% on crushing volumes) and volatility in commodity prices for sugar and chemicals.
Geographic Concentration Risk
High concentration in Karnataka and Maharashtra, where primary manufacturing units are located.
Third Party Dependencies
Dependence on contractors for sugarcane harvesting; recent increases in harvesting charges impacted margins by INR 26.7 Cr (exceptional expense).
Technology Obsolescence Risk
Risk of falling behind in 2G ethanol or bio-chemical technology; mitigated by dedicated R&D resources.
Credit & Counterparty Risk
Trade receivables decreased 25.86% to INR 141.29 Cr in FY25, indicating improved collection and lower counterparty risk.
