loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations
Open ICICI 3-in-1 Account

Triveni Engineering and Industries Results: Latest Quarterly Results & Analysis

Open Free Trading Account Online with ICICIDIRECT
+91
Triveni Engineering & Industries Ltd. 04 Jun 2026 17:33 PM
Result PDF

Q4FY26 & FY26 Result Announced for Triveni Engineering & Industries Ltd.

Sugar company Triveni Engineering & Industries announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • The company reported a Total Income of Rs 1,842.15 crore for Q4FY26, representing a marginal decrease of 0.01% compared to Rs 1,842.39 crore in Q3FY26 (QoQ) and a decrease of 4.78% compared to Rs 1,934.53 crore in Q4FY25 (YoY).
  • For FY26, the Consolidated Total Income stood at Rs 7,697.03 crore, reflecting an increase of 12.11% from Rs 6,865.58 crore in FY25.
  • Revenue from operations for Q4FY26 was Rs 1,833.65 crore, as against Rs 1,818.28 crore in Q3FY26 and Rs 1,925.28 crore in Q4FY25.
  • Annual Revenue from operations for FY26 reached Rs 7,620.85 crore compared to Rs 6,807.94 crore in FY25, marking an 11.94% increase.
  • The Consolidated Net Profit from continuing operations after tax for Q4FY26 was Rs 167.45 crore, showing a growth of 115.29% from Rs 77.78 crore in Q3FY26 (QoQ), but a decrease of 10.51% compared to Rs 187.12 crore in Q4FY25 (YoY).
  • For the full year FY26, the Consolidated Net Profit stood at Rs 268.71 crore, an increase of 12.78% over Rs 238.26 crore in FY25.
  • Total Comprehensive Income for Q4FY26 was Rs 169.37 crore, compared to Rs 78.08 crore in Q3FY26 and Rs 186.75 crore in Q4FY25. For FY26, it was Rs 270.77 crore as against Rs 231.62 crore in FY25.
  • Basic and Diluted Earnings Per Share (EPS) for Q4FY26 stood at Rs 7.60, compared to Rs 3.53 in Q3FY26 and Rs 8.55 in Q4FY25. For the full year FY26, the EPS reached Rs 12.19 compared to Rs 10.88 in FY25.

Standalone Financial Highlights:

  • Standalone Total Income for Q4FY26 was Rs 1,838.77 crore, which is a 0.02% increase from Rs 1,838.42 crore in Q3FY26 (QoQ) and a 4.72% decrease from Rs 1,929.83 crore in Q4FY25 (YoY).
  • For FY26, Standalone Total Income reached Rs 7,673.07 crore, up 12.04% from Rs 6,848.40 crore in FY25.
  • Revenue from operations for Q4FY26 stood at Rs 1,833.69 crore, as against Rs 1,818.05 crore in Q3FY26 and Rs 1,924.91 crore in Q4FY25.
  • Annual Standalone Revenue from operations for FY26 was Rs 7,620.48 crore, compared to Rs 6,807.08 crore in FY25, representing a growth of 11.95%.
  • Standalone Net Profit for Q4FY26 was Rs 167.38 crore, up 118.25% from Rs 76.69 crore in Q3FY26 (QoQ), but down 9.92% from Rs 185.82 crore in Q4FY25 (YoY).
  • For the full year FY26, Standalone Net Profit was Rs 258.56 crore, an increase of 9.78% compared to Rs 235.52 crore in FY25.
  • Standalone EPS for Q4FY26 stood at Rs 7.60 (Basic and Diluted). For FY26, the annual EPS was Rs 11.73, compared to Rs 10.70 in the previous year.

Business Highlights:

  • Segment Performance:
    • Sugar & Allied Businesses: This segment contributed the majority of revenue, totaling Rs 7,359.39 crore in FY26, compared to Rs 6,559.14 crore in FY25. Within this, the Sugar business accounted for Rs 4,476.60 crore and the Distillery business accounted for Rs 2,882.79 crore. Segment results for Sugar & Allied Businesses reached Rs 391.30 crore in FY26.
    • Engineering Businesses: Revenue stood at Rs 608.45 crore in FY26, compared to Rs 603.27 crore in FY25. The segment includes Power transmission (Rs 339.94 crore) and Water (Rs 268.51 crore). Segment results were Rs 151.42 crore for FY26.
  • Dividend: The Board of Directors has recommended a final dividend of 125% i.e. Rs 1.25 per fully paid-up equity share of face value of Re 1/- each for FY26. This is in addition to an interim dividend of 150% (Rs 1.50 per equity share) paid earlier in the year.
  • Amalgamation and Demerger: The Hon'ble National Company Law Tribunal approved the Composite Scheme of Arrangement involving the amalgamation of Sir Shadi Lal Enterprises Limited (SSEL) with the Company and the demerger of the Power Transmission Business undertaking into Triveni Power Transmission Limited (TPTL).
  • Exceptional Item: The company accounted for a liability of Rs 14.06 crore as an exceptional item related to employee benefits obligations following the notification of New Labour Codes.

Dhruv M. Sawhney, Chairman & Managing Director, Triveni Engineering & Industries, said: "I am pleased to report that the Composite Scheme of Arrangement with regard to the amalgamation of Sir Shadi Lal Enterprises Ltd. (SSEL) with the Company and demerger of the Power Transmission Business (PTB) of the Company and its vesting in Triveni Power Transmission Ltd. (TPTL) has received the approval of the NCLT and a certified copy of the NCLT's order has been filed with the Registrar of Companies on May 19,2026, making the Scheme effective. While the amalgamation of SSEL takes effect from the appointed date of 01-04-2025 and has accordingly been dealt with in the financials of FY26, the accounting impact of demerger shall be given effect to in FY27, since the appointed date of demerger is 01-04-2026. Accordingly, this is the final year when the financial results and operations of the PTB shall form part of the Company and this business shall be pursued in TPTLfrom FY27 onwards.

Despite a challenging operating environment which prevailed in FY26, particularly in the last quarter, the Company has delivered healthy results, aided by major turnaround in the profitability of the Distillery segment. The Sugar segment by and large maintained its profitability, whereas the PTB suffered decline in turnover and profitability due to disruption in the market caused by the prevailing geopolitical situation, resulting in deferment of deliveries.

The sugarcane crushed during the season 2025-26 was impacted, particularly in West Uttar Pradesh zone, where substantial crushing capacity of the Company exists. The decline in crush in West UP was on account of lower yields due to various agro-climaticfactors and substantial diversion of the crop to alternate sweeteners in select areas due to strong jaggery prices. However, the recovery of sugar improved during the current season and was 26 basis points higher than the last season as a result of the cane development activities undertaken in the previous season. In season 2025-26 our sugar operations were carried out based on C-heavy molasses, which together with the increased recovery resulted in our achieving an overall sugar production of 0.91 million tonnes, around the same level as last year. The Company continues with its efforts to enhance yields and having substantially replaced cane variety CO 238 in Central and Eastern UP, it endeavours to further lawer the proportion of CO 238 variety in West UP progressively. The sugar stocks in the country are likely to settle around 4.6 million tannes by end of sugar year 2025-26, which is expected to help the sugar prices in remaining firm and stable going forward.

The distillery operations witnessed a marked improvement, owing to lower procurement prices of maize and better availability of feedstocks. There is however, an urgent need to address the over capacity of ethanol manufacturing facilities in the country. The conflict in West Asia and consequent disruptions have led to a sharp increase in global crude oil prices and the Government is focussed on the need to cushion the import bill through increased blending of ethanol beyond the E20 targets and is exploring other avenues to boost demand of ethanol. The capacity already exists and it now needs a well-coordinated roadmap and balanced policy action to ensure that benefits translate across the entire value chain. Ethanol prices from certain sugarcane-based feed stocks have remained unchanged for three years, even though input costs have risen consequent to successive increases in the price of sugarcane. We expect that the Government shall address these issues on a priority and evolve a framework to provide long term stability to the operations of the industry.

The performance of Power Transmission Business was impacted by the uncertainties that prevailed, particularly in Q4FY26 due to the conflict in West Asia which had an impact on despatches for both, global and domestic customers. The business has however continued to maintain its profitability margins and has ended the year with a 25% higher order book. We continue to focus on gaining market share in the international market and have set up a wholly owned step-down subsidiary in Switzerland in this endeavour. The Capex programme is proceeding satisfactorily and major machineries have been installed/commissioned at our new Defence facility. Growing enquiry levels, continued engagement with key customers and major global OEMs as well as our proven technical competence and cost efficiencies provide us with the conviction of charting a sustained growth path as we demerge this business into a separate entity and unlock value for our shareholders."

Result PDF

Result PDF

Sugar company Triveni Engineering & Industries announced Q3FY26 results

  • Revenue: Rs 1,818.28 crore against Rs 1,600.3 crore during Q3FY25, change 14%.
  • PBT: Rs 126.16 crore against Rs 57.44 crore during Q3FY25, change 120%.
  • PAT: Rs 77.78 crore against Rs 42.57 crore during Q3FY25, change 83%.
  • EPS: 3.84 for Q3FY26.

Result PDF

Sugar company Triveni Engineering & Industries announced Q4FY24 & FY24 results:

  • Revenue from Operations (Net of excise duty) at Rs 5,220 crore
  • Profit before Exceptional items and Tax at Rs 529 crore
  • Profit after Tax at Rs 395 crore
  • Board recommended a final dividend of Rs 1.25 per equity share in addition to an interim dividend of Rs 2.25 per equity share and a special dividend of Rs 2.25 per equity share earlier paid during the year
  • Net turnover is lower by 7%, mainly due to lower sugar sales volume by 16%. However, Profit Before Tax (PBT) before considering share of profit of associates and exceptional income is lower by 3%
  • Sugarcane Crush during Sugar Season (SS) 2023-24 is 11% lower at 8.26 million tonnes over SS 2022-23 but the gross recovery is marginally higher at 11.49%. The decline in crush is due to heavy rains and water logging in certain regions and associated proliferation of red rot disease in plant cane of Co238 variety
  • In the Alcohol business, in view of feedstock restrictions on supply of Surplus Food Grains from Food Corporation of India (FCI Rice) and limitation of usage of B-heavy molasses, the production and sales volumes were less than earlier estimated. Overall margins declined in view of lower margins on maize operations.
  • Power Transmission Business reported record turnover and profitability – turnover increased by 30% and segment profits by 40%. An intensive capex programme is being executed currently
  • Turnover of Water business declined due to slow execution in certain projects but segment profits increased by 29% due to cost optimisation/savings in various projects executed during the year
  • The decline in turnover during FY24 is mainly due to Sugar (-12%) and Water business (-30%).
  • Profit before share of profits of associates and Exceptional items and Tax is 3% lower at Rs 528.8 crore.
  • Despite lower sales volumes by 16%, Segment profits of Sugar business are at the same level as the previous year due to higher contribution arising from 6% increase in sugar realization prices.
  • The gross debt on a standalone basis as on March 31, 2024 increased to Rs 1,324.7 crore as compared to Rs 825.0 crore as on March 31, 2023 due to higher sugar inventories held. Standalone debt at the end of the period under review, comprises term loans of Rs 277.8 crore, almost all such loans are with interest subvention or at subsidized interest rate.
  • On a consolidated basis, the gross debt is at Rs 1,411 crore as on March 31, 2024 as compared to Rs 913.8 crore as on March 31, 2023. Overall average cost of funds (standalone) is at 6.5% during FY24 as against 5.1% in the previous corresponding period. During the quarter, the Company’s long-term credit rating was upgraded to AA (Stable) by ICRA.

Commenting on the Company’s financial performance, Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: “The year gone by presented several operating challenges to the Company especially in the Sugar and Alcohol businesses while our Power Transmission business delivered another year of stellar performance. It is heartening to note that the Company has reported satisfactory results despite such challenges. The Company is hopeful of an improved performance in the coming year through a combination of policy decisions, and favourable macro environment while addressing challenges with agility.

The sugarcane crush in the just concluded Sugar Season (SS) 2023-24 was 11% lower to 8.26 million tonnes, well short of our initial expectations. The major decline in crush took place in four sugar units: Deoband in Western UP and Chandanpur, Rani Nangal and Milak Narayanpur in the Central UP. The chief reasons are the climatic factors, such as, heavy rainfall and water logging in certain regions, absence of sunshine for long spell in winter and spread of red rot disease, which reduced the yields considerably, mainly in the plant cane and higher diversion to kolhus/crushers. Such trend of lower sugarcane availability was witnessed across Central & Western UP regions. The sugarcane development teams have chalked out multi-pronged strategy to contain the damage by uprooting the diseased crop to limit the spread and to carry out comprehensive varietal substitution programme to reduce the proportion of vulnerable variety Co238, especially in low-lying/ water-logging prone areas and to substitute it by other high sucrose and high yield varieties. We hope to substantially improve our crush next season.

Sugar prices have remained at healthy levels both in FY 24 and more recently. We expect these trends to continue and believe that a continually increasing portfolio of refined sugar and pharmaceutical-grade sugar production, which now stands at 70% of overall sugar production, augurs well for sugar realisations for the Company. We continue to make judicious investment in our facilities to enhance crush rate, sugar quality and efficiencies.

In our Alcohol business, the Company faced several feedstock challenges during the year that led to disruption in planned production, such as abrupt stoppage of Surplus Rice by Food Corporation of India (FCI rice), restrictions with respect to usage of B-heavy molasses, introduction of Maize as feedstock, price volatility in feedstocks, etc. Accordingly, sugar operations were carried largely with C-heavy molasses as compared to Bheavy molasses in the previous year and the distillery operations were largely based on maize instead of FCI rice earlier. This has led to lower operating capacities and hence lower production and further, the margins on maize operations were relatively lower despite price corrections. We are hopeful the Government will address the feedstock and profitability challenges in FY 25 as it remains committed to Ethanol Blended Petrol (EBP) targets of 20% by 2025-26.

Our long-term strategy is to grow the Alcohol business by being an active partner in India’s EBP programme and self-reliance journey. To this end, we recently commissioned a 200 KLPD multi-feed distillery at our sugar unit at Rani Nangal which has resulted in an aggregate distillation capacity to 860 KLPD for the Company.

In our Engineering businesses, the Power Transmission business reported remarkable performance with new milestones achieved with respect to revenues, profitability and order booking in FY 24. The year also marked a period of extensive international customer outreach and continued investments in R&D and infrastructure aimed at enhancing the business’ market share to capitalize on the global opportunity landscape. Coupled with the strides made in Defence, the Power Transmission business is on a sustained growth path. In the Water business, the year went by was muted in terms of market activity and finalization of orders. We expect this to improve in the coming years and the business is well-placed in terms of bids and credentials. The long-term prospects for water and wastewater treatment solutions, both in India and in International markets, remain intact leading to a positive outlook on this business.”

Result PDF

Sugar company Triveni Engineering & Industries announced Q3FY24 & 9MFY24 results:

  • Net turnover declined by 10.4% and 2.9% respectively in Q3FY24 and 9MFY24:
    • Overall sugar sales volumes (including exports) were lower by 17.6% and 13.0% in Q3 and 9MFY24 respectively as compared to corresponding periods in the previous year which included substantial exports. It led to lower turnover in the Sugar business by 9.2% and 8.2% in Q3FY24 and 9MFY24 respectively, despite ~6% higher blended realisations both in the quarter and the nine-month period.
    • Alcohol business turnover (net of excise duty) increased by 7.6% and 16.0% in Q3 and 9MFY24 respectively, over the corresponding period last year, due to higher sales volumes driven by operational efficiencies and increased activities in Indian Made Indian Liquor (IMIL).
    • The Power Transmission business reported robust revenue growth of 17.5% and 33.9% in Q3 and 9MFY24 over the previous year driven by capacity augmentation (including exports)
    • Water business reported lower turnover of 48.8% and 24.2% in Q3 and 9MFY24 due to slower execution in some projects.
  • Profit before tax and exceptional items (PBT) declined 8.4% in Q3FY24 and was flat in 9MFY24 to Rs 182.1 crore and Rs 312.3 crore respectively.
    • Sugar business reported higher profitability due to higher sugar realisation prices offsetting the impact of lower sales volumes and increase in costs due to revision in State Advised Price (SAP) of sugarcane.
    • PTB also reported higher profitability commensurate with higher turnover.
    • Decline in the profitability of distillery operations is mainly due to a higher proportion of lower margin maize operations in substitution of FCI rice.
    • Segment profitability of the Water business during the current quarter is in line with the lower turnover whereas it has been able to maintain profitability during 9 months due to cost savings in various projects.
  • The gross debt on a standalone basis as of December 31, 2023, is Rs 514.5 crore as compared to Rs 389.1 crore as of December 31, 2022.
  • However, after considering surplus funds held as fixed deposit (FD) of Rs 369.0 crore, the net debt as of December 31, 2023, is at Rs 145.5 crore.
  • Standalone debt at the end of the quarter under review, comprises term loans of Rs 262.4 crore, almost all such loans are with interest subvention or at subsidized interest rates.
  • On a consolidated basis, the gross debt is at Rs 602.9 crore as of December 31, 2023, as compared to Rs 480 crore as of December 31, 2022, and the net debt as of December 31, 2023, is Rs 233.9 Crore.
  • Overall average cost of funds is at 5.25% during Q3FY24 as against 4.75% in the previous corresponding period.

Commenting on the Company’s financial performance, Dhruv M. Sawhney, Chairman, and Managing Director, Triveni Engineering & Industries, said: “Overall performance of the Company during the nine-month ended December 31, 2023, has been satisfactory, with healthy performance in Sugar and Power Transmission businesses in particular. There were challenges in the Alcohol business due to feedstock constraints and the profitability of the Water business was impacted due to the slow execution of some projects due to problems relating to the customers.

We are witnessing improved operational results in the Sugar business in the ongoing SS 2023-24 in terms of crush, recovery, and sugar realisation price over the previous year/season. The current estimates of lower production in SS 2023-24 and SS 2024-25 are likely to maintain firm sugar prices. The recent increase in sugarcane price by Rs 20 per quintal can be well absorbed by the prevailing sugar prices. A higher proportion of refined sugar production post-conversion of our Milak Narayanpur sugar unit to refinery and a higher quantum of pharmaceutical-grade sugar production at Sabitgarh augur well for sugar realisations for the Company. We continue to make judicious investments in our facilities to enhance crush rate, sugar quality, and efficiencies.

While there may be a significant shortfall in production in Maharashtra and Karnataka, Uttar Pradesh (UP) is estimated to show higher production. The recent weather conditions in UP of dense fog with no sunshine for a longer duration may have some impact on the yields and recoveries. Further, in view of restrictions to use Bheavy molasses and sugarcane juice to limit sugar sacrifice for ethanol production, sugar operations are largely being carried out with C-heavy molasses, which will lead to higher sugar production but can also have some impact on recoveries."

 

 

Result PDF

Sugar company Triveni Engineering & Industries announced Q2FY24 & H1FY24 results:

  • Sugar & Alcohol (Distillery) Businesses:
    • Sugar sales volume is 10.6% lower during the half year whereas the blended sugar realisations have increased by 5.8% over the corresponding previous period due to high domestic and export realisations
    • Alcohol sales of 9.4 crore litres, an increase of 11.1% over the corresponding previous period resulting in an increase
      in net turnover of the Alcohol business by 20.5% during H1FY24
    • Overall sugarcane crop position seems healthy. Crushing for Sugar Season (SS) 2023-24 has already commenced in four of the seven units
  • Engineering Businesses:
    • Highest-ever quarterly revenue and profitability in Power Transmission business in Q2FY24, driving robust H1FY24 growth of 44.8% and 58.2% respectively over the previous corresponding period to reach Rs 132.55 crore and Rs 47.26 crore in half-year revenues and segment results
    • Order booking of Rs 154.85 crore in Power Transmission, an increase of 36.1% YoY with a closing order book of Rs 281.52 crore, up 14.8% YoY
    • During the quarter, the Water business has won the bid of RUDSICO Greater Jaipur and the Letter of Intent (LOI) has been received subsequently
    • Outstanding order book of Rs 1,572.6 crore for combined Engineering Businesses
  • Revenue from Operations (Net of excise duty) in H1FY24 at Rs 2,606.8 crore, an increase of 1.4%
  • Profit before Exceptional items and Tax for H1FY24 at Rs 130.2 crore, an increase of 15%
  • Profit after Tax for H1FY24 at Rs 96.7 crore
  • Net turnover increased by 4.7% and 1.4% respectively in Q2FY24 and H1FY24 primarily driven by higher turnover in the Alcohol and Power transmission business.
  • Profit before tax and exceptional items (PBT) increased by 60% and 15% in Q2FY24 and H1FY24 to reach Rs130.16 crore at the half-year milestone.
  • The gross debt on a standalone basis as of September 30, 2023, is Rs 295.66 crore as compared to Rs 824.96 crore as of March 31, 2023

Commenting on the Company’s financial performance, Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries, said, “Overall performance of the Company during the half year ended September 30, 2023, has been satisfactory, given the fact that H1 is generally muted as the off-season expenses are expensed off. Our Alcohol business has grown well owing to the capacity expansions during FY23 and the stabilization of operations since then. Power Transmission business is charting new highs contributing in both size and growth to the Company as a whole.

We are all set for the new sugar season and on an overall basis, the crop seems healthier due to favourable climatic factors as well as due to rigorous sugarcane development activities undertaken by us. Sugar production for Sugar Season (SS) 2023-24 for the country is estimated to be lower as compared to 32.8 million tonnes in the recently concluded SS 2022-23 mainly on account of lower production in Maharashtra and Karnataka. However, the estimated production is still expected above the domestic consumption and we hope that the Government allows exports at an appropriate time to capitalize on high international sugar prices. Further, we would be closely reviewing the sugarcane price increase, if any, for the new season and hope that the Government allows an increase in sugar prices to offset the impact of the increase in sugarcane price. We have commenced sugarcane crushing at four sugar units for Sugar Season (SS) 2023-24.

Result PDF

Sugar company Triveni Engineering & Industries announced Q1FY24 results:

  • Net turnover has declined by 2.3% in Q1FY24 primarily driven by lower turnover in the sugar business while the alcohol and aggregate engineering turnover improved over Q1FY23.
    • Sugar turnover declined 15.2% over Q1FY23 after considering exports, driven by a 21.7% decline in domestic sales volumes due to lower domestic quota allocations. Sales volumes for Q1FY24 include exports of 14,531 tonnes of sugar at remunerative prices, while there were no exports in Q1FY23.
    • Alcohol business turnover (net of excise duty) increased by 21.4% due to higher sales volumes driven by higher distillation capacities and increased activities in Indian Made Indian Liquor (IMIL).
    • Combined engineering turnover increased by 24.2% boosted by a 77.8% increase in the Power Transmission business.
  • Profit before tax (PBT) increased by 2.6% in Q1FY24 to Rs 91 crore.
  • The total debt on a standalone basis as on June 30, 2023, is Rs 918.54 crore as compared to Rs 824.96 crore as on March 31, 2023, and Rs 1,541.53 crore as on June 30, 2022.
  • Standalone debt at the end of Q1FY24, comprises term loans of Rs 281.16 crore, almost all such loans are with interest subvention or at subsidized interest rate.
  • On a consolidated basis, the total debt is at Rs 1,011.07 crore as compared to Rs 913.83 crore as on March 31, 2023, and Rs 1,617.68 crore as on June 30, 2022.
  • Overall average cost of funds is at 6.71% during Q1FY24 as against 5.04% in Q1FY23.

Commenting on the Company’s financial performance, Dhruv M. Sawhney, Chairman, and Managing Director, Triveni Engineering & Industries, said: “Overall performance of the Company during the quarter ended June 30, 2023, has been satisfactory. Alcohol and Engineering businesses contributed to 60% of the total segment results.

There had been general trends of low recovery in the just concluded Sugar Season 2022-23 but the Company has outperformed the state of Uttar Pradesh in the same, with a decline of 23 bps in recoveries (on a C-heavy molasses basis).

In the Sugar business, we continue to focus on yield improvement initiatives by making our farmers adopt the best agricultural practices, through continual engagement with them and showing them the results in the demonstration plots which have been set up in each key area. It will be accompanied by increasing crush capacities progressively in sync with increased sugarcane availability. The Company is also in the process of increasing its refined sugar production to ~70% (up from ~60% currently) by changing the manufacturing process at its sugar unit in Milak Narayanpur. Activities previously announced about modernisation, debottlenecking, and efficiency improvements are progressing well. The condition of the sugarcane crop and the rainfall so far has been satisfactory in the catchment areas of our sugar mills but the continuance of good climatic conditions in the subsequent period are critical for the performance in the forthcoming season. We are also embarking on the digitization of sugarcane activities to increase productivity and our response time to issues requiring immediate action.

In the Alcohol business, we have been a strong supporter of the Government's Ethanol Blended Petrol (EBP) program and have actively bolstered our capacities while keeping pace with the expanding range of feedstocks for bio-ethanol production. We successfully raised our distillation capacity from 320 KLPD in FY22 to an impressive 660 KLPD presently. Looking ahead, we are ambitiously planning to further expand our capacity to 1,110 KLPD.

Our Engineering businesses continue to perform well with healthy order books and inquiry pipelines. In the Power Transmission business, the demand for high-speed gear solutions is witnessing a significant upswing in recent times in industries across various sectors, such as steel, oil & gas, petrochemicals, etc. as these are seeking advanced and efficient power transmission solutions to optimise their operations. In the Water business, the demand for reliable water and wastewater treatment solutions is on the rise both in India and in International markets. Apart from participating in domestic projects, we are aiming to expand our global footprint, establish strategic partnerships, and foster mutually beneficial relationships with key stakeholders.

At Triveni, we have strategically positioned ourselves to capitalise on emerging opportunities in both domestic and international markets in our various businesses. And as we forge ahead, our unwavering dedication to delivering exceptional value to our stakeholders remains at the core of our business strategy”.

 

 

Result PDF

Sugar company Triveni Engineering & Industries announced Q4FY23 & FY23 results:

  • All businesses have contributed to the growth boosted by higher sales across businesses. Higher sales volumes in the Alcohol business were due to new distillation capacities commissioned during the year, a large multi-feed distillery at Milak Narayanpur and a grain distillery in Muzaffarnagar as well as due to the enhancement of capacities of the existing distilleries.
  • Profit before tax (PBT) before exceptional items declined marginally during FY23 to Rs 562.4 crore due to the recognition of an export subsidy of Rs 57 crore in FY22 pertaining to the previous year. PBT increased by 66.9% in Q4FY23 to Rs 250.6 crore.
  • Improved performance during FY23 and Q4FY23 has been due to substantial profitability contributed by sugar exports, higher sale volumes and increased realization prices for distillery products, and higher profitability of engineering businesses resulting from higher turnover and containment of finance cost/treasury income arising from surplus funds.
  • The total debt on a standalone basis as on March 31, 2023, is Rs 824.96 crore as compared to Rs 1,503.74 crore as on March 31, 2022. Standalone debt at the end of the quarter under review comprises term loans of Rs 301.08 crore, almost all such loans are with interest subvention or at subsidized interest rates.
  • On a consolidated basis, the total debt is at Rs 913.83 crore as compared to Rs 1,567.96 crore as on March 31, 2022. The overall average cost of funds is at 5.1% during FY23 as against 5.0% in FY22

Commenting on the Company’s financial performance, Dhruv M. Sawhney, Chairman, and Managing Director, Triveni Engineering & Industries, said: “We are pleased with the performance of the Company during the year ended March 31, 2023, wherein several milestones were achieved – highest ever sugarcane crush in SS 2022-23, an increase of ~11% year-on-year; record overall gross and net turnover of Rs 6,310.1 and Rs 5,616.8 crore respectively with strong performance across the board; record alcohol production and sales following our capacity expansion to 660 Kilo Liters Per Day (KLPD) and aggregate engineering business revenues of over Rs 500 crore and segment results of over Rs 100 crore. It is a matter of satisfaction to see the diversification of our profitability: Alcohol and Engineering businesses have accounted for more than 50% of the total segment results. It indicates that our business risks are getting well spread, leading to improvement in our business risk profile".

 

 

Result PDF

Triveni Engineering & Industries announced Q3FY23 results:

  • Consolidated Q3FY23 & 9MFY23:
    • Profit before tax (PBT) before exceptional items during Q3FY23 increased by 7.4% and declined by 27.5% in 9MFY23 as compared to corresponding periods of previous year, to Rs 198.7 crore and Rs 311.9 crore respectively.
    • The profitability in sugar business is lower as the cost of sugar sold pertaining to the previous season includes the impact of sugarcane price increase for the Sugar Season.
    • 9MFY22 included export subsidy of Rs 57 crore relating to the previous period.
    • Higher profitability of the aggregate engineering businesses is owing to strong revenue increase of 45.8% and 35.8% during the current quarter and nine-month period under review over the corresponding periods last year.
    • The total debt on a standalone basis as on December 31, 2022 is Rs 389.09 crore as compared to Rs 525 crore as on December 31, 2021. Standalone debt at the end of the quarter under review, comprises term loans of Rs 334.39 crore, almost all such loans are with interest subvention or at subsidized interest rates. 
    • On a consolidated basis, the total debt is at Rs 480 crore as compared to Rs 592 crore as on December 31, 2021.
    • Overall average cost of funds is at 4.75% during Q3FY23 as against 4.15% in the corresponding period of previous year.
    • The company holds surplus funds through short-term fixed deposits of Rs 1,278 crore.
    • Our proposed buyback of Rs 800 crore is pending statutory approval.

Commenting on the Company’s financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: “Overall performance of the Company during the nine months ended December 31, 2022 has been satisfactory. In the current ongoing season, there is a declining trend of recoveries across the state of UP, for the ratoon crop, due to a variety of factors – mainly shortfall in rains in the grand growth period and thereafter, due to late rains in the month of October. However, in view of conducive weather, it is expected that there would be a catch-up in the balance part of the season for the plant crop and the gap will narrow down. We had addressed the issues relating to de-bottlenecking and modernisation in three of our sugar units and consequently, the crush during the quarter has increased by 25% over last year. However, the profitability of sugar operations has been impacted as cost of sugar sold in the current period includes the impact of the sugarcane price increase in the previous season, and it has not been fully offset by the increased sugar realization. We believe that it is the most appropriate time for the Government to reconsider the increase in the Minimum Support Price (MSP) of sugar to offset the impact of increased cane price. We have been able to get a remunerative export price having a substantial premium over the domestic sugar price, as a result of the Government making a timely announcement for the first tranche of exports of 6 million tonnes.

In view of our increased distillation capacities, our production and sales volumes have increased substantially. However, the profit has not increased commensurately due to increased transfer price of B-heavy molasses, initial stabilization period of new distilleries and relatively lower margins on grain operations. There is an urgent need for the Government to rectify the pricing of ethanol produced from sugarcane juice and grain to improve the viability and enhance investments. It will help in faster setting up of additional capacity and achieve the targets of ethanol blending.

The performance of engineering businesses is satisfactory with both turnover and profitability registering strong growth. In the Water business, we continue to selectively focus on projects with healthy returns, both in domestic and international markets. Water business has participated in many tenders and expects to received orders of substantial value. Orders in hand for Power Transmission are higher by 23% over corresponding previous quarter. In this segment, the Company’s high speed licence agreement with Lufkin Gears LLC expired in January 2023 and the business will now pursue the high-speed high-power segment independently with a focus on enhancing global market share in its identified target markets. We believe with an increased global presence, solid business model and strategy along with foray in defence will drive the Power Transmission business in the coming years.

Our proposed buyback of Rs 800 crore is presently under approvals. The sale of stake in Triveni Turbine Limited has infused substantial funds in the Company, which, even after the proposed buyback, will meet the expansion requirements of the businesses and reduce finance costs on working capital requirements.”

 

Result PDF

Sugar manufacturing company Triveni Engineering & Industries announced Q2FY23 results:

  • H1FY23 consolidated:
    • Revenue from operations (net of excise duty) at Rs 2571.56 crore, an increase of 22%
    • Profit before exceptional items and tax at Rs113.16 crore
    • Profit on the divestment of stake in Triveni Turbine Limited (TTL) at Rs1401.20 crore
    • Profit after tax at Rs1454.21 crore

Dhruv M Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: “Overall performance of the company during the half year ending September 30, 2022, has been satisfactory. Sugar and distillery segments witnessed higher dispatches during Q2/H1FY23 with higher realisations. The profitability in the sugar business has been impacted by the higher cost of sugar produced in the SS 2021-22, owing to increase in sugarcane price, which could not be fully compensated by increased sugar realisation prices. Similarly, the profitability of the distillery segment is somewhat subdued due to increased transfer pricing of B-heavy molasses. We have commenced production of Ethanol/ENA from the grains and have now stabilised the operations. Both the engineering businesses have performed well with strong revenue growth and have robust closing order books coupled with healthy enquiry pipelines.

Like the previous season, there is an estimated surplus of around 9 million tonnes after meeting the domestic consumption. International prices are robust and it is important that the export policy for the SS 2022-23 is announced by the government at the earliest so that export contracts could be entered into, taking advantage of a favourable international pricing environment and currency depreciation.

We have commenced sugarcane crushing at six sugar units and the sugar unit at Ramkola is scheduled to commence during the second week of November. As a result of the debottlenecking and modernisation carried out at our three sugar units and based on the crop position presently prevailing, our performance, both in terms of crush and recovery, is likely to be better and the refined sugar may constitute approximately 60% of the total sugar production.

We presently have a total capacity of 660 KLPD under the distillery segment, which we have planned to increase to 1110 KLPD by setting up two more distilleries. As further capacity will mainly be operated on sugarcane juice and grains, it may be necessary for the government to continue to positively address the pricing of ethanol produced from these feedstocks to maintain viability and to ensure that adequate capacities are set up to meet the target of 20% EBP by 2025. It will be a game-changer for the sugar industry and the risk profile of the business will greatly improve. And it will be a win-win situation for the sugar industry, farmers and the Government. Considering the commitment of the government, we are quite optimistic that appropriate price corrections will take place in future.

The engineering business continue to perform well with healthy order books and enquiry pipelines. In the Power Transmission business, strong domestic economy and focus on growth in export markets is a key growth driver. In the Water business, the Company’s focus on both domestic and international markets is yielding results with many notable recent order wins and several bids under evaluation.

During the quarter, the company has divested its entire 21.85% stake in Triveni Turbine Limited for net consideration of Rs 1,593 crore unlocking significant value for shareholders. This has led to unbundling of businesses and monetisation of non-core assets. As indicated earlier, the proceeds from the divestment will be inter-alia utilised for growth and expansion of business as well as for rewarding shareholders. To this effect, the Board of Directors, subject to approval of shareholders, has approved a proposal to buy back from equity shareholders of the company upto 2,28,57,142 equity shares at a price of Rs 350 each for an aggregate amount not exceeding Rs 800 crore, through tender offer on proportionate basis in accordance with the provisions of SEBI (Buy back of Securities) Regulations, 2018, and Companies Act, 2013, and rules made thereunder.

We believe the company is well-positioned across its businesseses to leverage the market opportunities with its strong capabilities and strategic focus.”

Result PDF

Sugar company Triveni Engineering & Industries announced Q1FY23 results:

  • Revenue from Operations (Net of excise duty) at Rs 1225.67 crore, a growth of 18.2%
  • Profit before Tax at Rs 88.68 crore
  • Profit after Tax at Rs 66.45 crore

Commenting on the Company’s financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: “We are pleased to note that in the recently concluded Sugar Season (SS) 2021-22, the Company registered good performance despite general trends of low yields and recovery in the state of Uttar Pradesh. Both the engineering businesses have also performed well with robust order booking, this trend is expected to continue and result in revenue growth in FY 23 and FY 24.

We are enthused with the performance of the distillery segment. As against capacity of 320 KLPD operated in FY 2021-22, our capacity currently stands at 660 KLPD which will result in significant growth in the turnover and profitability of the distillery segment. We have decided to further expand the capacity by 450 KLPD so that it becomes a sizeable business and provides significant revenue streams. We have full confidence in the commitment of the Government of India (GoI) to the Ethanol Blended Petrol (EBP) programme and are augmenting capacities on dual feedstock basis to provide us flexibility to select the feedstock based on commercial economics.

With expected production of 36.2 million tonnes of sugar and exports of 11 million tonnes in the Sugar Season (SS) 2021-22, closing inventories are expected at 6.09 million tonnes. Based on the current sowing, pattern of rainfall and crop condition, production of 35.5 million tonnes of sugar is estimated in the ensuing sugar season i.e. SS 2022-23. To maintain the balance, exports of around 8 million tonnes will be required and hence, it is imperative that clarity is provided on exports for the next season at the earliest to capitalize on the international price opportunities and INR depreciation.

With respect to the Company’s sugar business, the previously announced debottlenecking and modernization plans at three of our sugar units are progressing well and we expect this activity to be 4 completed by October 2022 as communicated earlier. For the upcoming sugar season, with increase in cane area by 3% this year, better crop health, more focused crop surveillance plan and a good forecast of monsoon, we expect increase in yield and production and hence cane availability and consequently higher crush for the Company.

On the engineering side, we believe both our Power Transmission and Water businesses are well placed for the long-term. In Power Transmission business, we believe the growth in domestic economy along with Atmanirbhar Bharat Abhiyan (Self-reliant India campaign) will drive capex across end user industries. This coupled with the Company’s strategy and plan to increase its global footprint will lead to growth at an accelerated pace in the coming years. In the Water business, the growing water scarcity is catalysing new opportunities in the areas of recycle, reuse and Zero Liquid discharge. We believe that the disruption caused by the pandemic has largely been over and normalcy in business environment is returning which will lead to floating of tenders for new projects as well as finalization of earlier tenders. With its leadership position and robust financials, Triveni is equipped to capitalize on these increased opportunities."

Result PDF

Trending News

The government vernment has extended anti-dumping duties on aluminium foil imports

The government vernment has extended anti-dumping duties on aluminium foil imports

Published on 11-Jun-2026 09:15

Indian Pharma Market growth as per IQVIA database stood at 12.1% YoY

Indian Pharma Market growth as per IQVIA database stood at 12.1% YoY

Published on 11-Jun-2026 09:14

POWERGRID's Board has approved the upgradation of SCADA and associated systems of the National Transmission Asset Management Centre

POWERGRID's Board has approved the upgradation of SCADA and associated systems of the National Transmission Asset Management Centre

Published on 11-Jun-2026 09:14

Krishna Institute of Medical Sciences (KIMS) has scheduled a board meeting on June 13, 2026

Krishna Institute of Medical Sciences (KIMS) has scheduled a board meeting on June 13, 2026

Published on 11-Jun-2026 09:13

The Government of India has approved 22 more applicants under Round 3 of the textile PLI scheme

The Government of India has approved 22 more applicants under Round 3 of the textile PLI scheme

Published on 11-Jun-2026 09:12

As per an SEC filing, Novelis, the wholly-owned US subsidiary of Hindalco, has restarted production at its Oswego, New York facility and is working closely with customers to progressively ramp up supply.

As per an SEC filing, Novelis, the wholly-owned US subsidiary of Hindalco, has restarted production at its Oswego, New York facility and is working closely with customers to progressively ramp up supply.

Published on 11-Jun-2026 09:10

Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
Download App

Download Our App

Get it on google Play Store Download on the App Store
market app