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Triveni Engineering and Industries Ltd share Price

Company details

6M Return 37.50%
1Y Return 45.84%
Mkt Cap.(Cr) 8,343.30
Volume 117,403
Div Yield 0.86%
OI Chg %
Volume 117,403

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Uptick in sugar prices to offset lower sugar recovery…
About the stock

    Triveni Engineering (TEL) is one of the largest sugar companies in India with sugar crushing capacity of 60,000 TCD, distillery capacity of 520 KLD & co-generation power of 100 MW. It also has power transmission & waste water management business contributing 10% to revenues.

    • The company is increasing its distillery capacity from current 11 crore litre per annum to 22 crore litre per annum by FY24 to utilise B-heavy, grain & sugarcane juice route to produce ethanol
Q4-FY22 Results

    TEL reported strong earnings growth led by higher distillery sales.

    • Sales were down 7.8% YoY as TEL has not exported sugar in current season
    • EBITDA was at Rs 174.7 crore, up 6.3% YoY, with margins at 16.3%
    • PAT was at Rs 109.2 crore, up 28.4% YoY, led by higher profit from associates & lower tax provisioning

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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”.



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Trading recommendation

Call Date
28 Oct 2021
Entry Price 188.00
Target Price 270.00
Stop Loss -
Investment recommendation
Uptick in sugar prices to offset lower sugar recovery…
Call Date
27 May 2023
Entry Price 274.00
Target Price 370.00
12-18 Month


Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Triveni Engineering and Industries Ltd Stocks COMPARISION


Equity Capital: 2,665.25 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 16,852.71 -20,671.82
LAST 3M 52,922.55 -3,405.64
LAST 6M 58,662.39 139,660.95
LAST 12M 135,235.34 165,245.59

Triveni Engineering and Industries Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Triveni Engineering & Industries Ltd is a focused, growing corporation having core competencies in the areas of sugar and engineering. The company is among the three largest sugar manufacturers in India, and the market leader in its engineering business comprising steam turbines, high speed gears, gearboxes and water treatment solutions. The Company is engaged in diversified businesses, mainly categorised into two segments - Sugar & allied businesses and Engineering business. Sugar & allied businesses primarily comprises manufacture of sugar and distillation of alcohol. Engineering business primarily comprises manufacture of high speed gears, gearboxes and providing water/waste-water treatment solutions. The other operations mainly include the operations of retail stores at various rural and semi-urban locations pursued by Triveni Retail Ventures Ltd, a wholly owned subsidiary, and trading of various package fast moving consumer goods, including sugar. The company has seven sugar mills in operation at Khataull, Deoband, Sabitagarh, Chandanpur, Raninagal, Milak Naraipur and Ramkola in Uttar Pradesh. They are having turbine manufacturing and gear manufacturing facilities at Bangalore and Mysore and water & waster water treatment business is located at Noida. The company is also having a two co-generations power plants located at their major facilities, namely Khatauli (46 MW) & Deoband (22 MW) and a 160,000 litre per day capacity distillery at Muzaffarnagar. Triveni Engineering & Industries Ltd, a part of Triveni group was incorporated on July 27, 1932 as The Ganga Sugar Corporation Ltd. The company obtained a certificate of commencement of business on February 6, 1933. As per the scheme of arrangement, the whole undertakings of Ramkola Sugar Mills were transferred to the company effective from October 31, 1969. By virtue of this amalgamation, the company acquired a sugar at Ramkola in eastern Uttar Pradesh. In April 3, 1973, the name of The Ganga Sugar Corporation Ltd was changed to Gangeshwar Ltd. In March 2000, the Erstwhile Triveni Engineering & Industries Ltd merged with the company. The Erstwhile Triveni Engineering & Industries Litd was carrying on the business of manufacture of sugar at their factory at Khatauli, manufacture of steam turbines at Bangalore, and manufacture of high speed reduction gears at Mysore. Further, they had a sugar plant machinery, hydro turbine business and waste water treatment business at New Delhi. The name of the company was changed from Gangeshwar Ltd to Triveni Engineering & Industries Ltd on March 31, 2000. In December 2004, the company`s co-generation plant at Deoband was commissioned. In October 19, 2005, the co-generation plant at Khatauli was synchronized with the grid and began external sales of electricity. Upper Bari Power Generation Ltd became the subsidiary of the company with effect from 29th April 2005. In October 25, 2005, Triveni SRI Ltd started the business of rural retailing (Kushali Bazaar) and took over this business from our company with the objective to provide focused growth. During the year 2005-06, the company expanded their sugar division from 25250 TCD to 40500 TCD. They commissioned the 7000 TCD greenfield sugar unit in Sabitgarh in January 2006. During the year, the turbine unit at Bangalore doubled its capacity to address the increased domestic demand. The expansion was completed in a record nine months by 31 December 2005 for an additional investment of only Rs 180 million. The water business division commissioned a water treatment plant for boiler feed water using the double-pass reverse osmosis system corresponding to the CEDI technology used in the company`s Khatauli sugar factory. Also, Triveni Khushali Bazaar added 10 new stores during the year. During the year 2006-07, the company undertook the capacity expansion in sugar operations with the setting up of three new units with an aggregate capacity of 17500 TCD and also a brownfield expansion at Ramkola where the crushing capacity was enhanced from 3500 to 6500 TCD. In December 2006, the phase II co-generation plant was commissioned at Khatauli plant. In June 27, 2006, the company incorporated Triveni Engineering Ltd as a wholly owned subsidiary company. In April 2007, the company started their operations in one of the largest single stream molasses based 160 KLPD distillery unit. During the year 2007-08, the company successfully commissioned the 27 MW steam turbine. Also, they installed state of the art machines at our engineering facilities at Bangalore and Mysore. The company divested their stake in Abohar Power Generation Ltd which ceased to be a subsidiary during the year. In February 2008, the company incorporated Triveni Energy Systems Ltd as a wholly owned subsidiary company. GE Triveni Limited (GTL) was incorporated as Wholly Owned Subsidiary with an affiliate of GE Oil & Gas in 2009-10. The Company Commissioned Delhi`s first Sewage Recycling Plant for NDPL`s 106 MW Gas-based Power Plant in 2010-11. During the year 2010-11, the Hon`ble Allahabad High th Court vide its Order dated 19 April, 2011 sanctioned the Scheme of Arrangement between Triveni Engineering & Industries Limited (the Company), its wholly owned subsidiary company, Triveni Turbine Ltd. (TTL), and their respective shareholders and creditors. The said order became effective on st 21 April, 2011 being the date of filing of the Order with the Registrar of Companies. The steam turbine business (Demerged Undertaking) was demerged into Triveni Turbine Ltd. (TTL) pursuant to the Scheme of Arrangement y with effect from the appointed date on 1st October 2010. The Steam Turbine Business of the Company, including all assets and liabilities, stood transferred and vested in TTL, with effect from the appointed st date 1 October, 2010. In accordance with the Scheme approved by the Hon`ble Allahabad High Court, the investment held by the Company in the equity share capital of GE Triveni Ltd. (GETL) stood transferred to and vested in TTL. Accordingly, GETL ceased to be a subsidiary of the Company. During the year 2011-12, the Company made a strategic investment in the share capital of Aqwise Wise Water Technologies Limited, Israel, a leader in development and implementation of wastewater treatment solutions for the industrial and municipal markets, by way of subscribing/ acquiring 25.04% of the equity share capital of Aqwise. As a part of this strategic investment in Aqwise, the Company secured access to their technology for projects in India. During the period 2012-13, two new companies, Bhudeva Projects Limited and Svastida Projects Limited were incorporated as Wholly Owned Subsidiaries of the Company on March 19, 2014. Further, the Company acquired 4,35,270 equity shares of Rs 10/- each of Triveni Entertainment Limited (TEL) at book value from the existing shareholders of TEL and consequent to the acquisition, TEL became a wholly owned subsidiary of Company. During 2015-16, the Company incorporated a new wholly owned subsidiary (WOS), Triveni Industries Ltd., on July 22, 2015. Further, it divested nominal equity shares in its existing WOS viz. Triveni Sugar Ltd. (TSL) (formerly Bhudeva Projects Ltd.). Consequently, TSL became 99.99% subsidiary of the Company. The Board approved a New Scheme of Arrangement between the Company, its wholly owned subsidiary, Triveni Industries Ltd, (TIL), and their respective Shareholders and Creditors for transfer of the Sugar Business, comprising all seven sugar mills along with Co-generation and Distillery operations, including all related assets and liabilities,and vesting of the same in TIL by way of demerger from the Appointed date of the Scheme, April 01, 2016. During the year 2018-19, Company incorporated a new wholly owned subsidiary, Mathura Wastewater Management Pvt Ltd. (MWMPL) on June 12, 2018. The Company set up 160 KLPD Distillery at its sugar unit at Sabitgarh, which commissioned in the first quarter of FY 20. During the year 2020-21, two new companies namely, Triveni Foundation (Section 8 Company) and Gaurangi Enterprises Limited were incorporated as wholly owned subsidiaries of the Company. Further, the Company acquired 100% equity stake in United Shippers & Dredgers Limited (USD) from the existing shareholders of USD. With this acquisition, USD became a wholly owned subsidiary of Company. During the year 2021-22, a new company, namely, Pali ZLD Private Limited (PZPL), was incorporated as a wholly owned subsidiary of the Company.

Registered Address

Deoband, , Saharanpur, Uttar Pradesh, 247554

Tel : 91-01336-222185/222497
Email : shares:trivenigroup.com
Website : http://www.trivenigroup.com

Karvy Computershare Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 532356
Book Closure Date (Month) :
BSE Group : A
ISIN : INE256C01024

FAQ’s on Triveni Engineering and Industries Ltd Shares

You can buy Triveni Engineering and Industries Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Triveni Engineering and Industries Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Oct 04, 2023 09:29 AM the closing price of Triveni Engineering and Industries Ltd was ₹ 381.15.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Oct 04, 2023 09:29 AM, the market cap of Triveni Engineering and Industries Ltd stood at ₹ 8,343.30.

The latest PE ratio of Triveni Engineering and Industries Ltd as of Oct 04, 2023 09:29 AM is 17.54

The latest PB ratio of Triveni Engineering and Industries Ltd as of Oct 04, 2023 09:29 AM is 0.32

The 52-week high of Triveni Engineering and Industries Ltd is ₹ 404.00 while the 52-week low is ₹ 247.30

According to analyst recommendations, Triveni Engineering and Industries Ltd has a “Buy” rating for the long term.

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