Hydrolysate prepared from water hyacinth biomass, containing a considerable amount of solubilised carbohydrate and nutrients, was utilised as a medium for the cultivation of two strains of Chlorella sorokiniana. These strains were isolated from an oxidation pond using two different media, i.e., BG-11 and Knop's media maintained at pH-9. Different light intensities, light-dark cycles, and various concentrations of external carbon sources (monosaccharides and inorganic carbon) were used to optimise the microalgal growth. It was observed that in the presence of organic carbon (glucose), biomass productivity increased significantly (~300 mgL-1day-1) as compared to that in the presence of only inorganic carbon (~100 mgL-1day-1). For the accumulation of stress products (lipids and carbohydrates), the microalgal strains were transferred to nutrient-amended media (N-amended and P-amended). The combined effects of glucose, inorganic carbon, and a 12h:12h light-dark cycle proved to be optimum for biomass productivity. For Chlorella sp. isolated from BG-11, maximum carbohydrate content (22%) was found in the P-amended medium, whereas high lipid content (17.3%) was estimated in the N-amended medium. However, for Chlorella sp. isolated from Knop's medium, both the lipid (17%) and carbohydrate accumulation (12.3%) were found maximum in the N- amended medium. Kinetic modelling of the lipid profile revealed that kinetic coefficients obtained for strain isolated from BG-11 media were statistically significant from each other.