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Taylormade Renewables Ltd

TRL
BSE
100.81
1.03%
Last Updated:
30 Apr '26, 4:00 PM
Company Overview
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Taylormade Renewables Ltd

TRL
BSE
100.81
1.03%
30 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
125Cr
Close
Close Price
100.81
Industry
Industry
Electric Equipment - Gensets/Turbines
PE
Price To Earnings
23.28
PS
Price To Sales
2.34
Revenue
Revenue
53Cr
Rev Gr TTM
Revenue Growth TTM
-25.88%
PAT Gr TTM
PAT Growth TTM
-69.77%
Peer Comparison
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TRL
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
21332162017-218
Growth YoY
Revenue Growth YoY%
-3.7494.0-105.313.7
Expenses
ExpensesCr
6226131015814
Operating Profit
Operating ProfitCr
14164102-104
OPM
OPM%
69.020.619.021.951.813.2591.324.3
Other Income
Other IncomeCr
00000060
Interest Expense
Interest ExpenseCr
00000000
Depreciation
DepreciationCr
00100000
PBT
PBTCr
14053102-54
Tax
TaxCr
40213200
PAT
PATCr
100426-1-54
Growth YoY
PAT Growth YoY%
-37.9-810.0-225.392.8
NPM
NPM%
50.03.511.412.032.3-4.2267.420.4
EPS
EPS
9.30.13.31.85.6-0.6-3.73.0

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2025TTM
Revenue
RevenueCr
7153
Growth
Revenue Growth%
-25.1
Expenses
ExpensesCr
5147
Operating Profit
Operating ProfitCr
207
OPM
OPM%
28.512.7
Other Income
Other IncomeCr
06
Interest Expense
Interest ExpenseCr
11
Depreciation
DepreciationCr
22
PBT
PBTCr
1810
Tax
TaxCr
66
PAT
PATCr
125
Growth
PAT Growth%
-60.7
NPM
NPM%
17.39.1
EPS
EPS
10.84.3

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2025Sep 2025
Equity Capital
Equity CapitalCr
1212
Reserves
ReservesCr
7577
Current Liabilities
Current LiabilitiesCr
4660
Non Current Liabilities
Non Current LiabilitiesCr
110
Total Liabilities
Total LiabilitiesCr
141160
Current Assets
Current AssetsCr
107123
Non Current Assets
Non Current AssetsCr
3437
Total Assets
Total AssetsCr
141160

Cash Flow

Consolidated
Standalone
Financial YearMar 2025
Operating Cash Flow
Operating Cash FlowCr
-12
Investing Cash Flow
Investing Cash FlowCr
-8
Financing Cash Flow
Financing Cash FlowCr
21
Net Cash Flow
Net Cash FlowCr
0
Free Cash Flow
Free Cash FlowCr
-27
CFO To PAT
CFO To PAT%
-101.4
CFO To EBITDA
CFO To EBITDA%
-61.6

Ratios

Consolidated
Standalone
Financial YearMar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
236
Price To Earnings
Price To Earnings
19.2
Price To Sales
Price To Sales
3.3
Price To Book
Price To Book
2.7
EV To EBITDA
EV To EBITDA
12.2
Profitability Ratios
Profitability Ratios
GPM
GPM%
39.6
OPM
OPM%
28.5
NPM
NPM%
17.3
ROCE
ROCE%
19.1
ROE
ROE%
14.1
ROA
ROA%
8.7
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** **Taylormade Renewables Limited (TRL)** is a leading Indian clean-tech company at the forefront of sustainable industrial innovation. The company specializes in **solar thermal energy**, **zero liquid discharge (ZLD) wastewater treatment**, and **circular economy solutions** for high-impact sectors including sugar, dairies, distilleries, chemicals, pharmaceuticals, refineries, and food processing. TRL combines in-house engineering, manufacturing, and R&D to deliver **patented, turnkey systems** that drive decarbonization, resource recovery, and regulatory compliance. With a strategic shift toward infrastructure-led models, TRL now operates as a **developer, owner, and operator** of clean-tech utilities through **Build-Own-Operate (BOO)** and **BOOT (Build-Own-Operate-Transfer)** frameworks, enabling recurring, high-margin revenue streams. --- ### **Core Business Segments** 1. **Wastewater Treatment & ZLD Solutions** - Proprietary technologies: **TRL RAIN™**, **TRL RAIN Plus+™**, **TRL RAIN ULTRA™**, **Zeo-Membrane™**, and **EC ULTRA™** - Focus on **Zero Liquid Discharge (ZLD)**, solvent recovery, brine concentration, and hazardous effluent purification - Systems deliver >95% water recovery, operate without chillers/vacuum pumps, and require minimal chemical input 2. **Solar Thermal Applications** - Industrial-scale **parabolic dish concentrators** and **CPC collectors** generating process heat up to 400°C - Applications: boiler pre-heating, evaporation, cooking, desalination, hydrogen support, and EOR - Flagship installations at IIT Roorkee, IOCL (Baroda, Faridabad, Asaoti), and Satara Jail 3. **Circular Food & Sugar Innovations** - **TRL Paneer Plus™**: Increases paneer yield by 20%, produces lactose-free, high-protein dairy products - **Enhanced Sugar Manufacturing Process**: Chemical-free, reduces water & energy by up to 80%, improves sugar recovery by ~10% - Achieves full ZLD and premium sugar quality (transparent, low ICUMSA) --- ### **Strategic Developments (2024–2025)** - **Acquisition & Vertical Integration (Mar 2025)** Acquired **51% stake in Taylormade Enviro Pvt. Ltd. (TEPL)**, establishing its first subsidiary. TEPL brings **modular fabrication, hazardous waste treatment**, and **CETP capabilities**, enhancing on-ground execution and scalability for BOO projects. - **First BOO Plant Commissioned – Tarapur (Jun–Sep 2025)** - Received **Consent to Operate (CTO)** from Gujarat Pollution Control Board (GPCB) - Treats complex industrial effluents using **TRL RAIN™ ZLD technology**; already processed over 300,000 L - Functions as a **national benchmark** for sustainable industrial water management - Generates **recurring revenue (~₹100 crore expected)** via long-term service contracts - Plans for **brownfield expansion in FY25–26** - **Shift to Annuity-Based Revenue Model** Transitioned from EPC to **BOO/BOOT infrastructure models**, offering: - **No upfront capex** for clients - Guaranteed regulatory compliance - Remote monitoring, AI-powered O&M - Monetization via **water credits, carbon credits**, and service fees - **Geographical Expansion** - Land acquisition underway at **Dahej and Sayakha** for new BOO plants - Upcoming projects in **Andhra Pradesh, Sayakha, and Tarapur** - Targeting 16+ BOO plants across Gujarat; international rollout in planning --- ### **Technology & Innovation** TRL is a **patent-rich innovator** in clean-tech with no direct market competition for several core technologies. #### **Key Patented Systems:** - **TRL RAIN™** - Thermal evaporation-condensation system for ZLD at low temperatures (≥65°C), no vacuum or chemicals - Handles RO reject, mine water, saline effluents, and spent wash - Self-cleaning, modular, and scalable (10 KLD to 1,000 KLD+) - **TRL RAIN ULTRA™** - Solvent recovery system using **waste or renewable heat** (no chilling towers or vacuum pumps) - Achieves **~100% solvent recovery**, closed-loop operation - Deployed in paints, pharmaceuticals, and chemical sectors - **TRL Zeo-Membrane™** - Proprietary membrane technology for high-organic-load effluents (distillery, dairy, brine) - Operates across wide pH/temperature ranges - Low fouling, high throughput, compact footprint - Basis for **Paneer Plus™** and **ZLD integrations** - **TRL EC ULTRA™** - Electrocoagulation system treating greywater, hospital effluents, and runoff - No pre-treatment needed for pH 5–9 - Reduces sludge and chemical usage by 60–80% #### **R&D Partnerships** - **Bhabha Atomic Research Centre (BARC):** Co-developing 9 advanced water treatment systems - **IOCL (Indian Oil Corporation Ltd):** Joint pilots in solar thermal energy and bio-refining - **NFCSF (National Federation of Cooperative Sugar Factories):** Technology validation and national access to 200+ sugar plants --- ### **Market Recognition & Approvals** - **NFCSF Approval (Jun 2025):** Registered as approved manufacturer for sugar and distillery plants (2025–2028). Enables deployment of **chemical-free sugar tech** via BOO, EPC, or licensing. - **International Credibility:** Successful project in **Busia Sugar, Uganda**, demonstrating cross-border replicability in challenging climates and regulations. - **Global Recognition:** TRL RAIN technology validated for **international water standards**, especially in petroleum and chemical sectors. --- ### **Client Engagement & Order Book** - **Marquee Clients:** **Asian Paints, ONGC, SABIC, PI Industries, IOCL, Coca-Cola, Ami Organics, Kunjir Bioenergy, Deepak Phenolics** - **Export Orders:** Kenya (100 KLD), with planned expansion to USA, Canada, and GCC via **Optimor Ventures LLC** (exclusive U.S. channel partner, May 2025) - **Order Book:** Estimated at **USD 40 million**, including multiple ZLD, solar thermal, and membrane projects --- ### **Differentiators** 1. **End-to-End Ownership** TRL **designs, builds, owns, operates, and maintains** systems, ensuring performance and building long-term client trust. 2. **No Upfront Cost Model** BOO/BOOT eliminates client capex, accelerating adoption and de-risking sustainability transitions. 3. **In-House Capabilities** Full vertical integration: R&D → manufacturing → deployment → O&M across India 4. **AI & Digital Integration** Real-time monitoring, adaptive control, predictive maintenance via machine learning platforms 5. **Environmental Impact** - **Zero toxic sludge** in sugar manufacturing - **85% water recovery** in industrial processes - Reduced CO₂, VOCs, and dependency on fossil fuels --- ### **Growth Strategy** - **Domestic:** Scale BOO plants across industrial clusters in **Gujarat, Maharashtra, Andhra Pradesh, and UP** Establish **CETPs in industrial parks** and focus on **water-stressed regions** - **International:** Target **water-scarce, off-grid areas** in Africa, Middle East, and South Asia with modular solutions - **New Verticals:** Expansion into **green hydrogen (input water treatment)**, **semiconductor-grade water**, **bio-CNG**, and **membrane-based food processing** - **Revenue Model:** Shift towards **high-margin recurring income** from asset ownership and credit monetization (water, carbon)