Outcome of the board meeting held on November 12, 2026 and the unaudited financial results for the period…

We are looking at a mega project in that area, maybe looking at a capex of about INR 500 crores going forward, which will mostly be in the grain processing segment in the specialty chemical division.

We are looking at setting up and evaluating a large project on that land, for which the capex will start in FY28.

So, current year we are expecting a revenue of about INR800 crores, looking at increasing the capacity utilization of our current plant and machinery, and also look at an improvement in EBITDA margins from Y-o-Y, and this year I think it should be about 5%.

Even up to INR 3,000 crores can be achieved with the current setup at 100% utilization.

I hope that the worst is definitely over for the starch business, and we are looking at ramping up our capacity to 100% by the end of this year, and also see improvement in margins in this financial year as compared to last year.

Overall, the quarter demonstrates that as input costs normalize and ethanol capacity ramps up, the business is transitioning to a stronger and sustainable earnings profile, positioning it well for medium-term growth.