Phase 1: Project Initiation
Step 01: Techno-Economic Feasibility
60 KLPD Grain-Based Distillery — Core + DDGS + Cogen + Biogas/CBG + ENA.
1. Production Basis
| Capacity | 60 KLPD |
| Annual Ethanol Output | 18,000 KL (300 operating days) |
| Feedstock Requirement | ~45,000 MT Maize (~2.5 kg/litre ratio) |
| DDGS Yield | ~5,940 MT/year (~0.33 kg/litre) |
2. Scenario Testing: Option A vs. Option B
We test the recommended configuration (Option A: Core + DDGS only) against an aggressive buildout (Option B: Core + DDGS + Cogen + Biogas/CBG + ENA) to demonstrate the exact capital strain of adding advanced units prematurely.
Option A (Recommended)
- Total Project Cost: ₹120 Cr
- EBITDA Margin: 16.8%
- Indicative DSCR: ~1.05x
Marginal but realistic for Year 1-2. The strongest configuration for securing bank approval.
Option B (High Capex)
- Total Project Cost: ₹158 Cr
- EBITDA Margin: 14.4%
- Indicative DSCR: ~0.71x
Below lender acceptance thresholds. The fixed capex for advanced units lacks the throughput to earn its keep at 60 KLPD.
3. Final Engineering Recommendations
- Build Option A: Core plant at 60 KLPD with a DDGS dryer included to secure lender confidence.
- Future-Proofing: Reserve land, utility headroom, and effluent routing capacity for Cogen/Biogas/ENA immediately so future expansion is a retrofit-light Phase 2.
- Defer ENA: Treat Extra Neutral Alcohol as a Phase 2 product-mix decision requiring established beverage/pharma relationships.