Godavari Biorefineries IPO Details, Financials, Valuation & Peers

Godavari Biorefineries Limited is an integrated bio-refinery in India and a significant player in ethanol-based chemicals manufacturing. With an installed ethanol production capacity of 570 KLPD as of June 30, 2024, the company is among the largest ethanol producers in India by volume. It holds a globally recognized position as the largest manufacturer of 3-Methyl-3-Penten-2-One (MPO) and is one of only two producers of natural 1,3 Butylene Glycol worldwide. It is also the only manufacturer of bio-ethyl acetate in India. The company’s diversified portfolio includes bio-based chemicals, ethanol, sugar, and power, catering to industries such as food, beverages, pharmaceuticals, cosmetics, paints, and fuels. Its Sameerwadi Manufacturing Facility in Karnataka ranks among the top fifteen sugar mills in India and features a crushing capacity of 18,000 TCD with future expansion plans to 25,000 TCD. Additionally, Godavari Biorefineries leads innovation by pioneering India’s first bio-based Ethyl Vinyl Ether (EVE) manufacturing facility. It has a global footprint, serving customers from over 20 countries, with notable clients such as Hindustan Coca-Cola, Hershey India, and LANXESS.

Key Points:

• Integrated Bio-Refinery: Godavari operates as an integrated bio-refinery, producing ethanol, sugar, bio-based chemicals, and power, which enables efficient resource utilization.
• Ethanol Production: The company is one of India’s largest producers of ethanol, with a capacity of 570 KLPD, and aims to expand to 1,000 KLPD with environmental clearance for enhanced production.
• Diverse Product Portfolio: Godavari's product range includes bio-based chemicals like ethyl acetate, bio-ethyl acetate, 1,3 butylene glycol, and various grades of ethanol, catering to a wide array of industries.
• Research and Development: The company has invested heavily in R&D, operating three research facilities and holding 18 patents across global markets.
• Global Reach: The company has expanded its market presence internationally, serving customers in over 20 countries, including the USA, Germany, and the UK, with revenues from international sales contributing to a significant portion of its overall revenue.
• Strong Customer Base: Godavari's clients include well-known brands such as Hershey India, Hindustan Coca-Cola, LANXESS and various major oil marketing companies, highlighting its robust market position.
• Product Branding: Godavari markets various products under the ‘Jivana’ brand, which has seen substantial revenue growth, indicating successful consumer engagement and market penetration.