Analysts/Institutional Investor Meet/Con. Call Updates

August 4, 2026 BSE Limited, National Stock Exchange of India Limited, Department of Corporate Services, The Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai-400001 Mumbai-400051 Scrip Code: 544545 Symbol: TRUALT Sub: Transcript of the Earnings Conference Call pertaining to the Unaudited Financial Results for the quarter ended June 30, 2026 Dear Sir/Madam, Pursuant to Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the transcript of Earnings Conference Call held on Wednesday, July 29, 2026 at 11:00 A.M. (IST), to discuss the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026. Further, please note that the said transcript shall also made available on the Company’s website at www.trualtbioenergy.com We request you to kindly take the above on record. Thanking you, Yours faithfully, For TruAlt Bioenergy Limited Monu Kumar Company Secretary and Compliance Officer M. No. A38853 “TruAlt Bioenergy Limited Q1 FY27 Investor Earnings Call” July 29, 2026 MANAGEMENT: MR. VIJAYKUMAR MURUGESH NIRANI – MANAGING DIRECTOR – TRUALT BIOENERGY LIMITED MR. ANAND KISHORE – CHIEF FINANCIAL OFFICER – TRUALT BIOENERGY LIMITED Page 1 of 24 TruAlt Bioenergy Limited July 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to TruAlt Bioenergy Limited's Q1 FY27 Investor Earnings Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. Today on the call with us, we have Mr. Vijaykumar Murugesh Nirani, Managing Director, and Mr. Anand Kishore, Chief Financial Officer. I now hand the conference over to Mr. Vijaykumar Murugesh Nirani, Managing Director. Thank you and over to you, sir. Vijay Nirani: A very warm welcome to all the shareholders for the first earnings call for the financial year 2026-2027. I must report that we have had a fairly good quarter thanks to the company's decision to convert three out of five units into dual feed plants and for timely completing the capex in a timely manner as of quarter three last financial year. During this quarter, we were successful in operating three out of five plants to the maximum of its capacity and were able to produce close to 8.5 crore litres of ethanol and achieve sales of close to 8.5 crore litres that gave us a revenue of close to INR630-odd crores. Thanks to the price of the maize and rice during the beginning of the season and with the support of the working capital build-up, we could successfully secure enough raw material that could give us an increase in the bottom line. We also had ample stock of ethanol during the March quarter which is now being sold thanks to the orders that we had in hand. With the current capacity, we were able to only operate at about 60% of capacity utilization. It is fairly better than the last 2 years, but we still have a lot more of opportunity to increase the capacity utilization by another 20% to 25% at least. And the company strives to reach that capacity utilization in the coming quarters. To increase the capacity, as we are all aware, there is a court case that gives us an additional of 15 crore litres of ethanol. That matter still stands open and we are trying to get that implemented. With that, our capacity utilization could go as high as 90% to 95% for the balance of the 2 quarters. That said, Q2 of this financial year should also see healthy numbers because we have close to about 11 to 12 crore litres of sales planned and that should give us a fairly good growth in performance in the quarter to come also. With regards to the compressed biogas business vertical, we have had a similar achievement in terms of operations as well as financials where we could clock a revenue of close to INR11 crores and a PAT of about INR4 crores, INR4.5 crores, giving us almost about 40% to 45% of PAT margin. The same is expected to continue in the quarters to come. Taking this learning, we had begun construction in three out of our four planned locations under a JV with Sumitomo under a subsidiary company called TruAlt Sumitomo Gas Private Limited. Happy to report that three Page 2 of 24 TruAlt Bioenergy Limited July 29, 2026 out of the four plants are near commissioning and would be put to use hopefully by the quarter 3 of this financial year. And quarter 4, we should start seeing some revenues from these three out of the four plants. In our second JV company, that is with GAIL, we have had six locations that are identified. We are in advanced action to procure the land and to begin construction hopefully in the month of August onwards. That should give us another six plants giving us a total of about 72 tons per day of additional capacity from hopefully Q4 of this year and revenues to be seen from quarter one of the next financial year onwards. In terms of the sustainable aviation fuel business, we are in advanced stages of the fast feed, that is the front-end engineering works. We will now be calling for EPC quotations post which we will give out orders to the EPC contractor and post procurement of the land from Andhra Pradesh government, begin construction works on ground. Also, we are very happy to report that we could successfully achieve about INR150 crores worth of viability gap funding from the Government of India under the PM JI-VAN Yojana. This will give us ample support in terms of the economic viability and encumber risks to a certain extent. With regards to our fuel retail business, we are seeing a lot of growth in -- or rather we are seeing a lot of opportunity in the flex-fuel vehicle adoption wherein a lot of two-wheeler companies, be it Honda, TVS, or other companies including Yamaha, have all launched their flex-fuel two-wheeler bikes. And the car companies like Maruti, Toyota have also launched commercially their flex-fuel vehicles. Government of India was also proactive in declaring a price for E85 and BIS standards for higher blends like E22, E25, and E27. This gives us great confidence for increasing our capacity utilization in the days to come and for adoption of scientifically proven ethanol blended fuels for the consumer in the years to come. So, our fuel retail network, we have already established seven outlets and another four to be commissioned hopefully by the end of this quarter. And because of the Middle Eastern crisis and the variance in the crude prices, we still see a lot of dynamics in the fuel prices. The delta is very high. Though we have identified about 76 additional locations, we have not begun construction or we have not begun the franchise works in the additional 75 fuel retail outlets owing to the Middle Eastern crisis. As soon as there is some benefit or rather some stalemate or rather the war seems to recede then we will have -- we will take up in a fast manner the construction of these 76 additional outlets.With that, I say that TruAlt is now a completely developed company with its ethanol vertical fully in place to yield maximum output, hopefully to give at least about 5 to 5.5 crore litres of ethanol production capacity on a monthly basis. With the gain in the working capital limits thanks to the IPO that we did and the working capital limits that we could secure from the proceeds of the IPO, company is fairly in a good position to have or build up enough Page 3 of 24 TruAlt Bioenergy Limited July 29, 2026 raw material at a decent price to yield fairly good margins in the days to come. With that, I ask our CFO, Mr. Anand Kishore, to take you through the financial performance. Anand Kishore: Good morning all and thank you for joining us fo [Showing first 8,000 characters — download PDF for full document]