About Company

• The Company was originally incorporated as Godavari Investment and Finance Corporation Ltd in January 1956, at Mumbai, Maharashtra.  Subsequently, the name was changed to Godavari Biorefineries Ltd in November 2006. The company is a manufacturer of ethanol-based chemicals in India.
• Godavari Biorefineries is one of the manufacturers of ethanol-based chemicals and is an integrated bio-refinery in India with an installed capacity of 570 KLPD for ethanol manufacturing as at June 30, 2024. Godavari Biorefineries is one of India’s largest producers of ethanol in terms of volume as of March 31, 2024.
• The company has 2 Manufacturing Facilities - the Sameerwadi Manufacturing Facility located in Bagalkot district, Karnataka, and Sakarwadi Manufacturing Facility located in Ahmednagar district in Maharashtra. The Bagalkot facility is dedicated to the crushing of sugarcane and manufacturing of sugar, Ethanol and power, while the Ahmednagar facility is dedicated to the manufacturing of Bio-based Chemicals.
• The company is also the largest manufacturer of MPO (3 Methyl-3 Penten-2-One) worldwide in terms of installed capacity, one of only 2 manufacturers of natural 1,3 butylene glycol and the only company in India to manufacture bio ethyl acetate. The company has set up India’s first bio-based EVE manufacturing facility in India as on March 31, 2024.
• Godavari Biorefineries is an integrated biorefinery company using sugarcane as a primary feedstock to manufacture a range of products across the value chain including sugar, Ethanol, chemicals, power and other products.
• The company’s diversified product portfolio comprises of bio-based chemicals, sugar, different grades of ethanol and power. These products find application in a range of industries such as food, beverages, pharmaceuticals, flavours & fragrances, power, fuel, personal care and cosmetics. The Company has the widest portfolio of bio-based products in India.
• The company plans to expand its distillery capacity from 600 KLPD (as at June 30, 2024) to 1,000 KLPD, Considering the government initiatives for increasing fuel ethanol blending.
• The company has an international presence with customers spread across 20 countries including Australia, China, Germany, France, Italy, Japan, Kenya, Netherlands, Singapore, United Kingdom, United Arab Emirates, Indonesia and United States of America.
• The company’s borrowings stood at ? 703.75 Cr as on June 30, 2024. The company plans to utilize a portion of the Net Proceeds of IPO to reduce its borrowing and improve the debt-to-equity ratio.

Strengths

Competitive Strength 

• One of the largest producers of Ethanol in terms of volume;
• Integrated bio-refinery in India with an installed capacity of 570 KLPD for manufacturing ethanol;
• Diversified product portfolio and well-established relationship with a diversified marquee customer; base across industries and geographies;
• Well-developed in-house research and development capabilities;
• The company is a member of the Somaiya group and has an experienced Promoter, Board of Directors, Key Managerial Personnel and Senior Management.

 Business Strategies 

• Continuing to diversify product offerings and improving operational efficiency;
• Implementation of additional measures for improving feedstock security and increasing value derived from feedstock;
• Increasing the share of business of existing customers and further diversifying the customer base;
• Continuing focus on implementation of sustainable practices and strengthening our control over inputs;
• Reduction of borrowings and leverage

Company Promoters

Company Financials

Godavari Biorefineries Limited Financial Information (Restated Consolidated)

Godavari Biorefineries Limited's revenue decreased by -15.92% and profit after tax (PAT) dropped by -37.37% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The Company intends to utilize the Net Proceeds from the Fresh Issue towards funding the following objects (the"Objects"):

1. Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company; and
2. General corporate purposes.