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Godavari Biorefineries reported strong Q3 FY26 profitability, with EBITDA up 13.8% and PBT before exceptional items surging 152.2%. Bio-based chemicals drove margin expansion, while the Jivana brand crossed INR100 Cr revenue in the financial results for the 9-month period. Management aims for 3x EBITDA by FY29, allocating 75% of INR325 Cr capex to bio-based chemicals. Ethanol saw some softness, with grain distillery commissioning delayed to next quarter. The company remains bullish on the green transition, leveraging multi-feedstock flexibility for ethanol and pursuing innovations like anti-cancer molecules and bio-based monomers with partners. Overall sentiment is confident in strategic direction and long-term growth.