---
title: "True Green Bio Energy Ltd (TRUEGREEN) — Share Price, Financials & Analysis"
symbol: "TRUEGREEN"
company: "True Green Bio Energy Ltd"
canonical: "https://tapetide.com/stocks/TRUEGREEN"
bse_code: "533407"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
generated_at: "2026-09-13T19:41:20.226Z"
---

# True Green Bio Energy Ltd (TRUEGREEN)

Canonical page: https://tapetide.com/stocks/TRUEGREEN

## Company

- **BSE Code:** 533407
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** cnpcl.com

## About

Incorporated in 2003, True Green Bio Energy Ltd is in the business of Grain-based Ethanol production[1]

## Latest Price

## Key Insights

### Strengths

- Company has delivered good profit growth of 42.0% CAGR over last 5 years

### Weaknesses

- Stock is trading at 4.17 times its book value
- Company has a low return on equity of 7.86% over last 3 years.
- Company might be capitalizing the interest cost
- Promoters have pledged 57.5% of their holding.
- Debtor days have increased from 67.0 to 94.8 days.
- Promoter holding has decreased over last 3 years: -13.2%

## Growth Rates

| Metric | 3Y | 5Y |
| --- | --- | --- |
| net income growth | 186% | 42% |
| revenue growth | — | 13% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 3 | 15 | 2 | 3 | 7 | 2 | 84 | 190 | 228 |
| Expenses | 0 | 0 | 1 | 3 | 15 | 2 | 4 | 5 | 2 | 69 | 147 | 191 |
| Operating Profit | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 2 | 0 | 16 | 43 | 37 |
| OPM % | — | — | — | 13 | 0.9 | 10 | -15 | 24 | 2.3 | 18 | 23 | 16 |
| Other Income | 0 | 4 | 1 | 0 | 1 | 1 | -3 | 0 | 1 | 0 | -1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 7 |
| Depreciation | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 8 | -2 | 3 |
| Profit before tax | 0 | 4 | -1 | 0 | 0 | 0 | -3 | 1 | 1 | 1 | 39 | 27 |
| Tax % | 0 | 0 | -15 | 850 | 0 | 88 | -25 | 127 | -25 | -111 | 26 | 20 |
| Net Profit | 0 | 4 | -1 | 0 | 0 | 0 | -2 | 0 | 1 | 2 | 29 | 22 |
| EPS in Rs | -0.14 | 1.39 | -0.33 | -0.11 | 0.14 | 0.02 | -0.78 | -0.12 | 0.26 | 0.66 | 8.7 | 6.63 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 244 | 249 | 196 | 154 | 0 | 0 | 0 | 23 | 284 | 504 |
| Expenses | 235 | 244 | 194 | 143 | 0 | 0 | 2 | 23 | 223 | 408 |
| Operating Profit | 8 | 5 | 3 | 12 | 0 | 0 | -2 | 0 | 61 | 96 |
| OPM % | 3.4 | 2.1 | 1.3 | 8 | — | — | — | 1.2 | 21 | 19 |
| Other Income | 2 | 2 | 2 | 2 | 9 | -4 | 4 | -1 | 0 | 1 |
| Interest | 4 | 4 | 4 | 3 | 0 | 0 | 0 | 0 | 13 | 19 |
| Depreciation | 5 | 5 | 4 | 4 | 1 | 1 | 2 | 2 | 6 | 9 |
| Profit before tax | 2 | -1 | -3 | 6 | 8 | -6 | 1 | -2 | 42 | 68 |
| Tax % | 22 | 2 | 0 | 17 | 0 | 0 | -25 | 0 | 25 | — |
| Net Profit | 1 | -1 | -3 | 5 | 8 | -6 | 1 | -2 | 31 | 54 |
| EPS in Rs | 0.47 | -0.46 | -1.13 | 1.97 | 2.89 | -2.19 | 0.3 | -0.73 | 9.51 | 16.25 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 30 | 33 |
| Reserves | 56 | 57 | 56 | 53 | 58 | 66 | 61 | 62 | 86 | 126 |
| Borrowings | 25 | 19 | 24 | 20 | 20 | 27 | 0 | 18 | 174 | 340 |
| Other Liabilities | 54 | 57 | 60 | 51 | 60 | 36 | 3 | 6 | 23 | 58 |
| Total Liabilities | 161 | 161 | 167 | 151 | 165 | 156 | 91 | 112 | 312 | 558 |
| Fixed Assets | 90 | 86 | 82 | 84 | 84 | 83 | 58 | 61 | 57 | 340 |
| CWIP | 5 | 9 | 9 | 4 | 4 | 4 | 0 | 25 | 208 | 6 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 67 | 66 | 77 | 64 | 78 | 69 | 32 | 25 | 47 | 212 |
| Total Assets | 161 | 161 | 167 | 151 | 165 | 156 | 91 | 112 | 312 | 558 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 13 | 13 | -3 | 8 | 6 | -3 | 24 | 3 | -31 | -47 |
| Cash from Investing Activity | -17 | -3 | 1 | 0 | -4 | -2 | 3 | -16 | -152 | -105 |
| Cash from Financing Activity | 5 | -9 | 2 | -7 | -2 | 5 | -28 | 14 | 185 | 168 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 16 |
| Free Cash Flow | -5 | 7 | -4 | 6 | 1 | -6 | 26 | -13 | -185 | -139 |
| CFO/OP | 104 | 158 | -51 | 294 | 53 | 219 | -8150 | -153 | -11544 | -78 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 72 | 55 | 59 | 67 | 87 | — | — | — | 39 | 95 |
| Inventory Days | 37 | 40 | 51 | 52 | 106 | — | — | — | 55 | 80 |
| Days Payable | 75 | 72 | 76 | 81 | 138 | — | — | — | 42 | 52 |
| Cash Conversion Cycle | 34 | 23 | 34 | 38 | 55 | — | — | — | 52 | 123 |
| Working Capital Days | -8 | -7 | 0 | 1 | 12 | — | — | — | -134 | 0 |
| ROCE % | 10 | 5 | 3 | 1 | 9 | -1 | -1 | -3 | -1 | 14 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 66.83% | 70.53% | 74.51% | 74.51% | 74.51% | 74.51% | 74.52% | 74.52% | 67.48% | 61.27% | 61.27% |
| FIIs | 0.53% | 2.24% | 0% | 0% | 1.24% | 7.87% | 11.18% | 11.87% | 17.84% | 25.18% | 25.15% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0.01% | 0% | 0% | 0% | 0.08% | 0.08% |
| Public | 32.64% | 27.23% | 25.49% | 25.49% | 24.25% | 17.61% | 14.3% | 13.62% | 14.68% | 13.48% | 13.5% |
| No. of Shareholders | 6259 | 6334 | 6286 | 6403 | 6357 | 6620 | 6632 | 6588 | 6754 | 7480 | 7353 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.52% | 74.52% | 74.52% | 74.52% | 74.52% | 69.34% | 67.48% | 61.27% | 61.27% | 61.27% | 61.27% | 61.27% |
| FIIs | 11.68% | 11.75% | 11.87% | 11.9% | 11.75% | 17.87% | 17.84% | 25.4% | 25.4% | 25.72% | 25.18% | 25.15% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.08% | 0.08% |
| Public | 13.8% | 13.73% | 13.62% | 13.59% | 13.74% | 12.79% | 14.68% | 13.33% | 13.33% | 12.99% | 13.48% | 13.5% |
| No. of Shareholders | 6713 | 6564 | 6588 | 6670 | 6677 | 6608 | 6754 | 6892 | 7275 | 7403 | 7480 | 7353 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Neutral
- **Buy / Neutral / Sell:** 8 / 3 / 8

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 218.43 | Sell |
| EMA (10) | 215.04 | Sell |
| SMA (20) | 224.21 | Sell |
| EMA (20) | 215.59 | Sell |
| SMA (50) | 202.12 | Sell |
| EMA (50) | 204.4 | Sell |
| SMA (100) | 185.29 | Buy |
| EMA (100) | 183.98 | Buy |
| SMA (200) | 135.79 | Buy |
| EMA (200) | 153.62 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 39.48 | Neutral |
| MACD (12,26,9) | 2.12 | Sell |
| Stochastic (14,3,3) | 15.47 | Buy |
| ADX (14) | 29.52 | Buy |
| Williams %R (14) | -97.54 | Buy |
| ATR (14) | 12.32 | High Volatility |
| ROC (12) | -14.64 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 51 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Sep - 22nd AGM on 29 September 2026; annual report sent, KYC and email registration requested. | [Letter To Shareholder Containing Weblink And Exact Path For Accessing Annual Report And Notice Of 22Nd Annual General Meeting. 8 Sep - 22nd AGM on 29 September 2026; annual report sent, KYC and email registration requested.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e7556a5-366c-44c0-aa7c-aee323247b98.pdf) |
| 7 Sep - Record date fixed as 22 Sep 2026 for e-voting at AGM on 29 Sep 2026. | [Intimation Of Record Date/Cut-Off Date 7 Sep - Record date fixed as 22 Sep 2026 for e-voting at AGM on 29 Sep 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4a03aacc-eb6d-41fe-abca-f14ac544398c.pdf) |
| 7 Sep - Newspaper Publication pertaining to 22nd Annual General Meeting and information of remote E-voting. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Newspaper Publication pertaining to 22nd Annual General Meeting and information of remote E-voting.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3551c4e1-26e6-455d-96ae-f68c1bfeea7e.pdf) |
| 7 Sep - Annual report filed; AGM on 29 Sep 2026; seeks approval for related-party transactions and Trusha Shah appointment. | [Reg. 34 (1) Annual Report. 7 Sep - Annual report filed; AGM on 29 Sep 2026; seeks approval for related-party transactions and Trusha Shah appointment.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8428e1aa-4150-49bf-85d8-d02711adb51f.pdf) |
| 17 Aug - Submission of Newspaper Publication of Unaudited Financial Results for the Quarter ended on 30th June, 2026. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Aug - Submission of Newspaper Publication of Unaudited Financial Results for the Quarter ended on 30th June, 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dd971ee5-8511-4410-b0ec-5a63b4795027.pdf) |
| 13 Aug - Revised KMP list authorised for materiality disclosures effective 13 August 2026. | [Regulation 30(5) Of The SEBI (LODR) Regulations, 2015 - Revised List Of Key Managerial Personnel Authorised For The Purpose Of Determining Materiality Of An Event Or Information From 13Th August, 2026 13 Aug - Revised KMP list authorised for materiality disclosures effective 13 August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8a179afa-4f3e-4987-ae1d-d39bb791ef77.pdf) |
| 13 Aug - Board formed CSR committee and adopted new CSR policy effective 13 August 2026. | [Intimation Of Constitution Of Corporate Social Responsibility (CSR) Committee And Adoption Of New Corporate Social Responsibility (CSR) Policy Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 13 Aug - Board formed CSR committee and adopted new CSR policy effective 13 August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6f181311-51f8-4139-b825-eff027b192df.pdf) |
| 13 Aug - Board approved re-designation of 14 promoters to promoter group; no change in 14.3715% holding or control. | [Intimation Regarding Intra-Group (Inter-Se) Re-Designation Of Certain Promoter Individuals/Entities From The 'Promoter' Category To The 'Promoter Group' Category - Continuation Within The Composite 'Promoter And Promoter Group' Category - No Change In Aggregate Shareholding, Voting Rights Or Control 13 Aug - Board approved re-designation of 14 promoters to promoter group; no change in 14.3715% holding or control.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4e1717a4-0c09-48db-aa13-8d4447f1d955.pdf) |
| 13 Aug - Board approved Q1 FY27 standalone results, fixed AGM for 29 September 2026, and updated CSR and promoter classification. | [Financial Results For The Quarter Ended 30Th June, 2026 13 Aug - Board approved Q1 FY27 standalone results, fixed AGM for 29 September 2026, and updated CSR and promoter classification.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=205c1f37-cdd4-496f-bd19-518beba9f05b.pdf) |
| — | [Notice Of 22Nd Annual General Meeting 7 Sep](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a7466b35-59dc-4e20-8833-a9e8234c91ca.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22213ecb-a8fb-4be0-bc9b-cc148ee1cc45.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/18cc2457-099e-4c13-a327-12ff700cf4ba.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/77235533407.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/71459533407.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/67237533407.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/5334070319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/5334070318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/5334070317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/5334070316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/533407/5334070315.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:41:20.226Z.