True Green Bio Energy Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

True Green Bio Energy Ltd trades at ₹186, in a confirmed uptrend and 21 weeks into that stage. That is +41.0% against its own 200-day average. It sits at 92% of a 52-week range of ₹55 to ₹197. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 31 straight weeks.

Today the stock is in a confirmed uptrend — week 21 of stage 2, confirmed. At ₹186 it trades +41.0% versus its 200-day average and sits at 92% of its 52-week range (₹55–₹197).

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +1,006% while the NIFTY 500 moved +264% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 31 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

True Green Bio Energy Ltd trades at 19.6× P/E, mid-range by its own standards (64th percentile). Its long-run median P/E is 15.2×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 19.6× is mid-range by its own standards (64th percentile), against a long-run median of 15.2× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

The price move, decomposed: over 5y, of the +47.1%/yr price move, ~+37.0%/yr came from earnings growth and ~+10.1 pp from the multiple (expanding); over 10y, of the +23.8%/yr price move, ~+15.7%/yr came from earnings growth and ~+8.1 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

True Green Bio Energy Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

61.4/100 — rank 3 of 4 in Textiles - Manmade Fibre - PFY/PSF · 61% evidence confidence

True Green Bio Energy Ltd scores 61.4 out of 100 against the 4 companies it is compared with in Textiles - Manmade Fibre - PFY/PSF, ranking 3. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 25.8 + 11.6 + 10 + 14 = 61.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

True Green Bio Energy Ltd reported ₹190 Cr of revenue in the Mar 26 quarter, +6,233.3% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 3.6% a year. The last full year, FY26, came in at ₹284 Cr. The last four reported quarters add to ₹283 Cr.

FY26 revenue came in at ₹284 Cr (+1,134.8% on the year), capping 10 years at 3.6% compound. The latest quarter (Mar 26) printed ₹190 Cr, +6,233.3% year on year — the 2nd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +2,595.0% growth against the decade's 3.6% — the current year is running faster than its own long-run rate.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

True Green Bio Energy Ltd's operating margin is 23.0% in the Mar 26 quarter, +38.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 10 fiscal years the operating margin has ranged 1.2% to 21.0%.

The latest quarter's operating margin is 23.0%, +38.0 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 1.2%–21.0%, and FY26's 21.0% is the top of that band — a record year.

Why the margin moved: operating margin went +37.8 pp year on year while gross margin went +10.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

True Green Bio Energy Ltd earned ₹29.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹31.0 Cr. The 10-year compound rate is 20.0%. That is 15.3% of the quarter's revenue. The same quarter a year earlier lost ₹2.0 Cr. 3 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹29.0 Cr, null year on year. On the full year, FY26 printed ₹31.0 Cr (null), and the 10-year compound rate is 20.0%.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −118% of True Green Bio Energy Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−47.0 Cr of operating cash against ₹31.0 Cr of profit. After ₹87.0 Cr of capital spending, ₹−134 Cr was left as free cash.

FY26: operating cash of ₹−47.0 Cr against reported profit of ₹31.0 Cr, leaving free cash of ₹−134 Cr after ₹87.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −118% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −118%: the cash cycle stretched 100 days between FY18 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 100 days — the next section's job is to find where the cash is stuck.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

True Green Bio Energy Ltd's cash conversion cycle runs 123 days in FY26, up from 23 days in FY18. Capital spending ran ₹298 Cr over the last 3 years. At FY26 sales of ₹284 Cr each day of that cycle holds about ₹0.8 Cr, so roughly ₹96.0 Cr sits inside the business at any moment.

FY26: debtors at 95 days, inventory at 80 days — roughly 2.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 123 days, looser than FY18's 23.

The full loop: cash goes out to suppliers and production on day 0; stock waits 80 days to sell; customers pay about 95 days after that; and suppliers themselves are paid at 52 days — netting out to the 123-day cycle.

In money terms: at FY26 sales of ₹284 Cr, each day of the cycle holds about ₹0.8 Cr — so the 123-day loop keeps roughly ₹96.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹298 Cr over the last 3 fiscal years against ₹10.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹6.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

True Green Bio Energy Ltd earns a ROCE of 14% in FY26. That is up from a trough of −3% in FY24. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 10.9% net margin on 0.51× asset turns.

FY26 ROCE is 14%, recovered from a FY24 trough of −3% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 10.9% net margin × 0.51× asset turns × 3.51× balance-sheet leverage ≈ 19.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

True Green Bio Energy Ltd carries ₹340 Cr of borrowings against ₹159 Cr of equity in FY26, a debt-to-equity of 2.14. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹20.0 Cr to ₹340 Cr. Capital spending ran ₹298 Cr across the last 3 of those years.

FY26: borrowings of ₹340 Cr against equity of ₹159 Cr — a debt-to-equity of 2.14. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹20.0 Cr to ₹340 Cr while capital spending ran ₹298 Cr in just the last 3 — part of the build-out is riding on borrowed money.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 13.2 points of True Green Bio Energy Ltd over 8 quarters, the biggest move on the register. That takes promoters to 61.3% of the company. Foreign institutions moved +13.2 points over the same window, to 25.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −13.2 points over 8 quarters to 61.3%; Foreign institutions: +13.2 points over 8 quarters to 25.1%; Domestic institutions: +0.1 points over 8 quarters to 0.1%.

🚨 Why the register moved: promoters drove it (−13.2 points), absorbed on the other side by foreign institutions (+13.2 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

True Green Bio Energy Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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