533407
True Green financials
- Market cap
- ₹663 Cr
- Sector
- Textiles
What True Green does
The company (formerly CIL Nova Petrochemicals Limited) is part of the Chiripal Group and operates from a combined registered office and manufacturing plant at Moraiya Village, Sarkhej-Bavla Highway, Tal. Sanand, Ahmedabad, with a separate corporate office at Chiripal House, Ahmedabad. In FY2023-24 its shareholders approved changing the company's name to True Green Bio Energy Limited and the company undertook a preferential issue of convertible warrants. The annual report as sighted does not describe the company's specific products, segments, or production activity in further detail.
- Manufacturing plants
- 1 (co-located with registered office, Sanand, Gujarat)
Quarterly results
Q1 FY27: revenue up 3157.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15 | 2 | 3 | 7 | 2 −87% | 84 +4100% | 190 +6233% | 228 +3157% |
| EBITDA | 0 | 0 | 0 | 2 | 0 | 16 | 43 | 37 +1750% |
| Net profit | 0 | 0 | -2 | 0 | 1 | 2 | 29 +1550% | 22 |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +287.5% 1Y
1Y: ₹53.27 on 10 Sept 2025 → ₹206.4. High ₹242.9 (20 Aug 2026), low ₹53.27 (10 Sept 2025).
Financials, as filed
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹0 Cr | ₹0 Cr | ₹23 Cr | ₹283 Cr |
| Operating profit | ₹-1 Cr | ₹-1 Cr | ₹0 Cr | ₹61 Cr |
| Operating margin | — | — | 0.0% | 21.6% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹12 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹6 Cr |
| Net profit | ₹-6 Cr | ₹1 Cr | ₹-2 Cr | ₹32 Cr |
| Net margin | — | — | -8.7% | 11.3% |
| Cash from operations | ₹24 Cr | ₹3 Cr | ₹-31 Cr | ₹-47 Cr |
| Free cash flow | ₹26 Cr | ₹-13 Cr | ₹-185 Cr | ₹-139 Cr |
| ROCE | -1.0% | -3.0% | -1.0% | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹27 Cr | ₹27 Cr | ₹27 Cr | ₹27 Cr | ₹33 Cr | ₹33 Cr |
| Reserves | ₹58 Cr | ₹66 Cr | ₹61 Cr | ₹62 Cr | ₹95 Cr | ₹126 Cr |
| Borrowings | ₹20 Cr | ₹27 Cr | ₹0 Cr | ₹18 Cr | ₹245 Cr | ₹340 Cr |
| Other liabilities | ₹60 Cr | ₹36 Cr | ₹3 Cr | ₹6 Cr | ₹31 Cr | ₹58 Cr |
| Total liabilities | ₹165 Cr | ₹156 Cr | ₹91 Cr | ₹112 Cr | ₹404 Cr | ₹558 Cr |
| Fixed assets | ₹84 Cr | ₹83 Cr | ₹58 Cr | ₹61 Cr | ₹53 Cr | ₹340 Cr |
| Capital work in progress | ₹4 Cr | ₹4 Cr | ₹0 Cr | ₹25 Cr | ₹270 Cr | ₹6 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹78 Cr | ₹69 Cr | ₹32 Cr | ₹25 Cr | ₹80 Cr | ₹212 Cr |
| Total assets | ₹165 Cr | ₹156 Cr | ₹91 Cr | ₹112 Cr | ₹404 Cr | ₹558 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −0.25 pp while the public added +0.17 pp. The shareholder count grew 7% to 7,353.
- Promoters
- 61.3%
- FIIs
- 25.1%
- DIIs
- 0.1%
- Public
- 13.5%
Since Jun 2025
- FIIs −0.25 pp
- Public +0.17 pp
- DIIs +0.08 pp
How it drifted, 12 quarters
Over this window FIIs went from 11.7% to 25.1% — +13.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 74.5%, FIIs 11.7%, Public 13.8%.Dec '23: Promoters 74.5%, FIIs 11.8%, Public 13.7%.Mar '24: Promoters 74.5%, FIIs 11.9%, Public 13.6%.Jun '24: Promoters 74.5%, FIIs 11.9%, Public 13.6%.Sep '24: Promoters 74.5%, FIIs 11.8%, Public 13.7%.Dec '24: Promoters 69.3%, FIIs 17.9%, Public 12.8%.Mar '25: Promoters 67.5%, FIIs 17.8%, Public 14.7%.Jun '25: Promoters 61.3%, FIIs 25.4%, Public 13.3%.Sep '25: Promoters 61.3%, FIIs 25.4%, Public 13.3%.Dec '25: Promoters 61.3%, FIIs 25.7%, Public 13.0%.Mar '26: Promoters 61.3%, FIIs 25.2%, DIIs 0.1%, Public 13.5%.Jun '26: Promoters 61.3%, FIIs 25.1%, DIIs 0.1%, Public 13.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Legends Global Opportunities (Singapore) Pte. Ltd. FPI fund +0.47 pp 4.92% held
- Brijmohan Devkinandan Chiripal (On behalf of Brij Trust) newly disclosed 0.00% held
- Jyotiprasad Devkinandan Chiripal (On behalf of Jyoti Trust) newly disclosed 0.00% held
- Vedprakash Devkinandan Chiripal (On behalf of Ved Trust) newly disclosed 0.00% held
- Jaiprakash Chiripal (On behalf of Jai Trust) newly disclosed 0.00% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of True Green above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Chiripal Exim Llp | 18.92% | unchanged |
| Devkinandan Corporation Llp | 16.26% | unchanged |
| Vikasa India Eif I Fund FPI fund | 9.21% | unchanged |
| Elysian Wealth Fund FPI fund | 6.13% | unchanged |
| Legends Global Opportunities (Singapore) Pte. Ltd. FPI fund | 4.92% | +0.47 pp |
| Chiripal Industries Limited | 4.59% | unchanged |
| Vedprakash Chiripal | 3.86% | unchanged |
| Brijmohan Devkinandan Chiripal | 3.73% | unchanged |
| Albula Investment Fund Ltd FPI fund | 3.22% | −0.48 pp |
| Manjudevi Jaiprakash Chiripal | 3.04% | unchanged |
| Urmiladevi Jyotiprasad Chiripal | 3.04% | unchanged |
| Jyotiprasad D Chiripal | 2.25% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse True Green
Guides on how to read this kind of business and the numbers that matter.