Triveni Engineering & Industries Limited has informed the Exchange about Investor Presentation
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ENGINEERING & INDUSTRIES LTD.
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& www.lrivenigroup.com
REF: TEIL:SE: BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai — 400 001 Thru: BSE Listing Centre
Date: 30" January, 2024 National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (E) Mumbai — 400 051 Thru: NEAPS
Scrip Code: 532356 Sub: Investors’ brief for Q3 & 9M FY24 ended December 31, 2023
Symbol: TRIVENI
Dear Sirs,
We send herewith a copy of investors’ brief on the performance of the Company for the The Q3 & 9M FY24 (consolidated) ended December 31, 2023 for your information. same is also being made available on the Company’s website www.trivenigroup.com.
Thanking you,
Yours faithfully, For Triveni Engineering & Industries Ltd.
htt
GRETA BHALLA Group Vice President & Company Secretary M.No.A9475
Encl: As above
Corporate Office: 8" Floor, Express Trade Towers, Plot 15 & 16, Sector 16-A, Noida, Uttar Pradesh - 201301, India Registered Office: A-44, Hosiery Complex, Phase-Il Extension, Noida-201 305, Uttar Pradesh. CIN No.: L15421UP1932PLC022174
Registered office: A-44, Hosiery Complex, Phase-II Extension, Noida-201 305, Uttar Pradesh, India. Corporate office: Express Trade Towers, 8th floor, 15-16, Sector 16A, Noida 201301, Ph: 0120-4308000, Fax: 0120-4311011 CIN: L15421UP1932PLC022174
For immediate release
9M FY 24 Consolidated Results ended Dec 31, 2023
• Revenue from Operations (Net of excise duty) at ₹ 3918 crore • Profit before Exceptional items and Tax at ₹ 312.3 crore
• Profit after Tax at ₹ 234.1 crore • Board declared an interim dividend of ₹ 2.25 per equity share and a special dividend of ₹ 2.25 per
equity share
• Sugar & Alcohol (Distillery) Businesses
▪ Better performance in terms of crush and recovery during Q3 FY 24 in the ongoing Sugar Season
(SS) 2023-24. Crush higher by 6.7%, net Recovery higher by 38 bps (after considering diversion of
sugar in B-heavy molasses) and sugar production higher by 10.9%
▪ Higher sugar realisations helped Sugar Segment profitability and largely offset the impact of
lower sales volume and increase in costs due to revision in State Advised Price (SAP) of sugarcane
▪ Alcohol sales of 13.8 crore litres in 9M FY 24, an increase of 8.3% over corresponding previous
period. Segment profitability impacted due to low margin maize operations in substitution of
operations using Surplus Food Grains from Food Corporation of India (FCI Rice)
• Engineering Businesses
▪ Robust increase in both turnover and profitability in Power Transmission business, growing 33.9%
and 44.8% year-on-year in 9M FY 24.
▪ Order booking of ₹ 240.5 crore in Power Transmission business in 9M FY 24, an increase of 24.3%
year-on-year with a closing order book of ₹ 297.2 crore, up 13.1% year-on-year
▪ Outstanding order book of ₹ 1,546 crore (including long tenure order & O&M contracts) for
combined Engineering Businesses
• Outcome of Board Meeting
The Board of Directors of the Company has:
▪ Declared an Interim Dividend of ₹ 2.25 per fully paid-up equity share of the face value of ₹ 1/-
each for the financial year 2023-24 and a Special Dividend of ₹ 2.25 per fully paid-up equity share
of the face value of ₹ 1/- each.
1
▪ Approved venturing into new business of manufacturing, marketing and selling own brands in
the premium segment of Indian Made Foreign Liquor (IMFL) as a forward integration of the
distillery operations.
It would
involve setting up a state-of-the-art bottling plant
in
Muzaffarnagar, Uttar Pradesh to produce high quality IMFL products at an estimated cost of
about ₹ 25 crore, subject to receipt of necessary statutory clearances. The new facility is expected
to be ready for commencement of production by end of Q1 FY 25.
▪ Noted that the project for enhancement in existing capacity of Power Transmission business from
₹ 250 crore to ₹ 400 crore is under progress and is expected to be completed by December 2024
instead of March 2024 as informed earlier. The Board approved further capex of ₹ 180 crore for
further enhancement in capacity from ₹ 400 crore to ₹ 500 crore.
▪ Noted that the commissioning of a new multi feed distillery at Rani Nangal, U.P., is expected by
March 31, 2024. Furthermore, considering present Government policy and challenges in
availability of permitted grains at viable procurement costs for distillery operations, it has been
decided to keep the implementation of the new proposed distillery expansion project at
Sabitgarh, U.P. in abeyance. Any further development will be intimated in due course.
▪ Approved:
a) Acquisition of 13,35,136 fully paid-up equity shares of face value of ₹ 10 each (“Sale Shares”)
of Sir Shadi Lal Enterprises Limited (“Target Company”), representing 25.43% Voting Share
Capital (as defined in the Public Announcement) of the Target Company from Mr. Vivek
Viswanathan, promoter of the Target Company and Ms. Radhika Viswanathan Hoon, member
the promoter group of the Target Company (collectively, “Sellers”), on and subject to the
agreed terms and for per Sale Share consideration of ₹ 262.15, aggregating to total
consideration of ₹ 35,00,05,902.40. For this purpose, the Company has executed a Share
Purchase Agreement with the Sellers as on the date hereof (“SPA”).
b) Making an open offer for up to 13,65,000 equity shares of ₹ 10 each, constituting 26% of the
Voting Share Capital, at a price of ₹ 262.15 per equity share from the shareholders of the
Target Company (“Open Offer”) with the intention to acquire control over the Target Company
and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of
Shares and Takeovers) Regulations, 2011 (“SAST Regulations”). Assuming full acceptance
under the Open Offer, the total consideration payable by the Company under the Open Offer
will be ₹ 35,78,34,750.
Acquisition by the Company of (i) Sale Shares under the SPA; and (ii) equity shares of the Target
Company pursuant to the Open Offer, is collectively referred to as “Acquisition”.
2
Sabitgarh, January 30, 2024: Triveni Engineering & Industries Ltd. (‘Triveni’), one of the largest integrated
sugar manufacturers & engineered-to-order turbo gearbox manufacturers in the country and a leading player
in water and wastewater management business, today announced its financial results for the third quarter and
nine months ended December 31, 2023 (Q3/9M FY 24). The Company has prepared the financial results based
on the Indian Accounting Standards (Ind AS) and as in the past, has been publishing and analyzing results on a
consolidated basis.
PERFORMANCE OVERVIEW: Q3/9M FY 24 (Consolidated Results)
Revenue from Operations (Gross) Revenue from Operations (Net of excise duty) EBITDA EBITDA Margin Share of income from Associates Profit Before Tax (PBT) Before Exceptional Items Exceptional Items- income/(expense) Profit Before Tax (PBT) After Exceptional Items Profit After Tax (PAT) Other Comprehensive Income (Net of Tax) Total Comprehensive Income EPS (not annualised) (₹/share)
In ₹ crore Q3 FY 24 Q3 FY 23 Change % 9M FY 24 9M FY 23 Change %
1,553.6
1,658.7
-6.3%
4,603.3
4,491.8
2.5%
1,311.2
1,462.7
-10.4%
3,918.0
4,034.3
-2.9%
214.9 16.4% (0.2)
230.7 15.8% -
-6.8%
#DIV/0!
427.3 10.9% (0.4)
411.5 10.2% 16.3
3.8%
182.1
198.7
-8.4%
312.3
311.9
0.1%
-
-
#DIV/0!
-
1,401.2
182.1
137.4
0.0
137.4 6.28
198.7
147.3
0.2
147.5 6.09
-8.4%
-6.7%
-6.8% 3.0%
312.3
1,713.1
-81.8%
234.1
1,601.5
-85.4%
0.5
234.6 10.70
(1.2)
1,600.2 66.24
-85.3% -83.9%
• Net turnover declined by 10.4% and 2.9% respectively in Q3 FY 24 and 9M FY 24:
o Overall sugar sales volumes (including exports) were lower by 17.6% and 13.0% in Q3 and 9M FY 24
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 Q3 FY 24 and 9M FY 24 respectively,
despite ~6% higher blended realisations both in the quarter and the nine-month period.
o Alcohol business turnover (net of excise duty) increased by 7.6% and 16.0% in Q3 and 9M FY 24 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).
o Power Transmission business reported robust revenue growth of 17.5% and 33.9% in Q3 and 9M FY 24 over
the previous year driven by capacity augmentation (including exports)
o Water business reported lower turnover of 48.8% and 24.2% in Q3 and 9M FY 24 due to slower execution in
some projects.
• Profit before tax and exceptional items (PBT) declined 8.4% in Q3 FY 24 and was flat in 9M FY 24 to ₹182.1 crore
and to ₹ 312.3 crore respectively.
3
o 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.
o PTB also reported higher profitability commensurate with higher turnover.
o Decline in the profitability of distillery operations is mainly due to higher proportion of lower margin maize
operations in substitution of FCI rice.
o Segment profitability of Water business during the current quarter is in line with the lower turnover whereas
it has been able to maintain the profitability during 9 months due to cost savings in various projects.
• The gross debt on a standalone basis as on December 31, 2023 is ₹ 514.5 crore as compared to ₹ 389.1 crore as
on December 31, 2022. However, after considering surplus funds held as fixed deposit (FD) of ₹ 369.0 crore, the
net debt as on December 31, 2023 is at ₹ 145.5 crore. Standalone debt at the end of the quarter under review,
comprises term loans of ₹ 262.4 crore, almost all such loans are with interest subvention or at subsidized
interest rate. On a consolidated basis, the gross debt is at ₹ 602.9 crore as on December 31, 2023 as compared
to ₹ 480 crore as on December 31, 2022, however net debt as on December 31, 2023 is ₹ 233.9 Crore. Overall
average cost of funds is at 5.25% during Q3 FY 24 as against 4.75% in the previous corresponding period.
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-month ended December 31, 2023 has been satisfactory,
with healthy performance in Sugar and Power Transmission businesses in particular. There were challenges in
Alcohol business due to feedstock constraints and the profitability of Water business was impacted due to slow
execution on some projects due to problems relating to the customers.
We are witnessing improved operational results in 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
₹ 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 higher quantum of
pharmaceutical-grade sugar production at Sabitgarh augur well for sugar realisations for the Company. We
continue to make judicious investment 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 B-
heavy 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.
4
In our Alcohol business, the recent Government actions relating to feedstocks have led to disruption in the
operations. After utilising permitted B-heavy molasses, the distillery operations will be carried with C-heavy
molasses and maize as feedstocks instead of B-heavy molasses and FCI rice which were being used earlier. It
would lead to lower operating capacities and hence lower production and further, the margin structure on maize
operations, despite price corrections which have taken place twice recently, is much lower than the earlier
feedstocks. The situation is under watch and we are hopeful that this may be a temporary situation as the
Government of India is committed to Ethanol blending targets. In view of the present situation, as a measure of
prudency, the Board of Directors have decided to put the distillery project at Sabitgarh on hold till the feedstock
position gets normalised. However, our Rani Nangal distillery is due to be commissioned by March 31, 2024.
In our Engineering businesses, the Power Transmission business continues to progress well both on account of a
buoyant demand outlook and Company-led initiatives to augment capacities, add new customers, expand to
new geographies while enhancing its portfolio of products and services beyond traditional gearboxes. In the
Water business, despite the operational delays in certain projects, our outlook for the business remains positive
as we believe that the demand for reliable water and wastewater treatment solutions will increase in the long-
term, both in India and in International markets, leading to a healthy flow of business.”
5
Q3/ 9M FY 24: BUSINESS-WISE PERFORMANCE REVIEW
(all figures in ₹ crore, unless otherwise mentioned)
Sugar business
Triveni is one of the largest integrated sugar producers in the country, with seven state-of-the-art FSSC
22000 certified sugar manufacturing facilities located in the state of Uttar Pradesh.
Performance
Sugar Season 2023-24
Sugar Season 2022-23
Change (%)
Oct - Dec 2023
3.33 9.76 324959
Oct - Dec 2022
3.12 9.38 292888
6.7
10.9
Sugarcane Crush (Million Tonnes) Net Recovery (%) Sugar Production (Tonnes)
Q3 FY 24
Q3 FY 23
Change %
9M FY 24
9M FY 23
Change %
Sugar Dispatches (Tonnes)
- Domestic - Exports - Total
Average Blended Realisation (₹/MT)* Revenue (` crore) PBIT (` crore)
210861 - 210861 39524 1027.0 119.9
*including export realisations as applicable
8.8
193791 62046 255837 37153 36111 1131.6 113.7
-17.6 6.4 -9.2 5.5
642880 14531 657411 38099 2930.4 147.3
693226 62046 755272 35976 3191.0 141.9
-7.3 -76.6 -13.0 5.9 -8.2 3.8
• Higher sugar realisations have led to much improved contribution margins, which have offset the impact
of lower sales volumes and increase in cane price
• The sugar inventory as on December 31, 2023 was 29.63 lakh quintals, which is valued at ₹ 36.6/kg.
• Co-generation operations (including incidental co-generation) achieved external sales of ₹ 30.6 crore
during 9M FY 24 as against ₹ 36.5 crore in 9M FY 23, a decline of 16%.
Industry Scenario – Domestic
• On January 18, 2024, the Government of Uttar Pradesh revised the State Advised Price (SAP) of sugarcane
for Sugar Season 2023-24 as follows:
o Sugarcane price for Early variety has been revised from ₹ 350 to ₹ 370 per quintal
o Sugarcane price for General Variety has been revised from ₹ 340 to ₹ 360 per quintal
o Sugarcane price for Rejected Variety has been revised from ₹ 335 to ₹ 355 per quintal
6
The press note also notified that the transportation charges for lifting of sugarcane from outside centres
has been revised by @45 paisa per quintal up to a maximum ₹ 9.00 per quintal
• On December 15, 2023, Department of Food and Public Distribution (DFPD) issued directions that in view
of lower expected sugar production in the country (wherein the major drop is mainly from Maharashtra &
Karnataka), the sugar industry to restrict the sugar sacrificed through the B-heavy & Sugarcane Juice/Syrup
route for ethanol to 1.7 million tonnes vs 3.8 million tonnes in previous season and directed sugar units
countrywide to operate on C-heavy process (only 71% of offers for B-heavy ethanol to Oil Marketing
Companies from distillery will be allocated and 29% for Sugarcane Juice (with an option of additional 18%
of offered quantity from B-heavy route)
• Sugar balance sheet for Sugar Season (SS) 2023-24: According to ISMA, with an opening balance as on
October 1, 2023 of around 5.6 million tonnes, net sugar production for SS 2023-24 of around 31.7 million
tonnes, domestic sales of around 28.5 million tonnes, the closing stock is expected at 8.8 million tonnes.
Net sugar production is after considering diversion of about 1.7 million tonnes of sugar equivalent into
ethanol (as stated above)
• Among the major sugarcane producing states, we expect Uttar Pradesh to produce 12-14% higher sugar
output during SS 2023-24, while production in Maharashtra and Karnataka is expected to decline ~15% and
~22% respectively leading to overall 3-4% lower net sugar production for the country.
• The Government imposed 50% duty on exports of molasses, a by-product of sugar industry used as raw
material for alcohol production, with effect from January 18, 2024.
Industry Scenario – International
• Global Sugar Balance Sheet pointing to surplus: International reports now forecasts a global sugar surplus
in SS 2024-25, largely driven by record sugar production in Brazil offsetting lower production in India and
Thailand.
• Record Sugar Output expected in Brazil: Sugar output from Brazil's top producing centre south (CS) region
is estimated at a record 43.1 million tonnes in the 2024-25 season despite lower supplies of sugarcane,
based on international reports. Sugar output from Brazil's main CS region is likely to go up as mills plan to
prioritise the production of sugar over ethanol. Higher sugar output would help to meet the shortfall from
other major sugar producing nations such as India and Thailand. Sugarcane crushing in Brazil's CS region is
expected to be lower at 620 million tonnes in the 2024-25 (April-March) season, down from an estimated
record 649.25 million tonnes in 2023-24. However, with higher diversion for sugar than ethanol, production
is expected at a record 43.1 million tonnes of sugar in 2024-25 as compared to estimates of 42.23 million
tonnes in 2023-24.
• Thailand sugar production expected to remain subdued in 2023-24: Thailand's sugarcane crush and sugar
production estimates have been reduced in light of the effects of the El Nino climate phenomenon bringing
about unpredictable weather, such as irregular rainfall during the planting season. As per International 7
reports, the sugarcane crush and sugar production for 2023-24 (October-September) are estimated at 85
million tonnes and 9.8 million tonnes, respectively. In the 2022-23 season, sugar harvest was completed on
April 6, with 93.9 million tonnes of sugarcane crushed and 11.02 million tonnes of sugar produced.
•
International sugar prices still robust: The NY #11 raw sugar futures touched highs of US 27.95 cents/lb in
November 2023 since crossing US 27 cents/lb earlier in the year, driven by global supply concerns due to
lower production expectations in Thailand and India. Prices have corrected following news of higher
production at Brazil, though still remain robust. As on January 24, 2024 the NY #11 front month contract
was trading at US 24.5 cents/lb. London #5 prices are currently trading at $685.3 per tonne after reaching
highs of $763.40 per tonne in November 2023.
Note: London #5 on left hand side (LHS) in $/tonne; NY #11 on right hand side (RHS) in US cents/lb
Alcohol (Distillery) business
The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – 2 facilities, Sabitgarh (SBT)
and Milak Narayanpur (MNP) in Uttar Pradesh aggregating to 660 KLPD. These facilities have the capability to
produce Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS). The Company
utilises a mix of sugarcane-based feedstocks as well as grains. Distillers Dried Grain Solubles (DDGS), a co-
product produced on grain operations is also sold to premium Institutions and has been well accepted in market.
The Company also manufactures Indian Made Indian Liquor (IMIL).
8
Performance
Operational details Production (KL) Sales (KL) Avg. Realisation (₹/ ltr) IMIL Sales (Lakh Cases)
Financial details Gross Revenue (₹ crore) Revenue Net of Excise Duty (₹ crore) PBIT (₹ crore)
Q3 FY 24 Q3 FY 23
Change %
9M FY 24
9M FY 23
Change %
44313 43828 59.1
11.68
549.7 307.3 37.4
46275 42615 56.6* 9.31
481.6 285.6 50.1
-4.2 2.8 4.3
25.5
14.1 7.6 -25.4
135281 137830 58.3
32.98
1632.1 946.8 138.9
131537 127226 57.5*
21.84
1273.7 816.2 147.2
2.8 8.3 1.3
51.0
28.1 16.0 -5.6
*includes relief announced by OMCs from June 1, 2022
• During Q3 FY 24, the profitability of distillery operations has been impacted due to low margin maize
operations in substitution of FCI-rice. Maize operations also lead to lower capacity utilisation, thereby
resulting in lower production. The issue of lower capacity utilisation with maize is technically being resolved.
• Increase of transfer price of B-heavy molasses by ₹ 100 per quintal subsequent to increase in sugarcane price
and increase in statutory fees on sale of ethanol has also led to lower profitability.
• Net turnover was boosted by higher alcohol sales and higher volumes in the IMIL business.
• During the quarter and nine-month period under review, alcohol produced from sugarcane-based
feedstocks formed 73% and 67% of the total sales volumes respectively. In the previous corresponding
quarter and nine-month period, alcohol produced from sugarcane-based feedstocks formed 64% and 79%
of the total sales volumes respectively.
• Alcohol sales from grains constituted 27% and 33% in the current quarter and nine-month period under
review as against contributed to 36% and 21% in previous corresponding quarter and nine-month period
respectively.
• Ethanol constituted 92% and 93% of alcohol sales during Q3 FY 24 and 9M FY 24 respectively, as compared
to 90% and 93% in the corresponding periods last year.
Domestic Industry Scenario
• For Ethanol Supply Year (ESY) 2023-24 (Nov-Oct), OMCs floated tender for 825 crore litres with a 15%
blending target and offers were received for 560 crore litres with 48% i.e. 267 crore litres from sugarcane-
based feedstocks and the balance 52% or 292 crore litres from grain-based feedstocks as compared to 73:27
ratio for sugarcane and grain-based feedstocks respectively that were supplied in the previous tender.
• On December 15, 2023, Department of Food and Public Distribution (DFPD) issued directions that in view
of lower expected sugar production in the country (wherein the major drop is mainly from Maharashtra &
Karnataka), the sugar industry to restrict the sugar sacrificed through the B-heavy & Sugarcane Juice/Syrup
route for ethanol to 1.7 million tonnes vs 3.8 million tonnes in previous season and directed sugar units
countrywide to operate on C-heavy process (only 71% of offers for B-heavy ethanol to Oil Marketing
9
Companies from distillery will be allocated and 29% for Sugarcane Juice (with an option of additional 18%
of offered quantity from B-heavy route)
• OMCs announced an incentive of ₹ 5.79/litre for maize-based ethanol w.e.f. January 5, 2024. Previously the
price of C-heavy based ethanol was increased to ₹ 56.28/litre through an incentive of ₹ 6.87/litre for ESY
2023-24. The prevailing ethanol prices along with recent changes are summarized as under:
Name of Feedstock used for producing
Ethanol
Sugarcane Juice / Syrup
B-Heavy Molasses
C-Heavy Molasses
Damaged Food Grains
Maize
Surplus Food Grains (FCI Rice)
Revised Rates
ESY 22-23
(₹/ litre)
Revised Rates with
incentive
Effective from
ESY 2023-24
ESY 2023-24
August 22,
2023
65.61
60.73
49.41
64.00
66.07
58.50
65.61
60.73
56.28
64.00
66.07
58.50
Effective from
January 5, 2024
65.61
60.73
56.28
64.00
71.86
58.50
Power Transmission Business
This business based at Mysuru involves manufacturing of high-speed gears and gearboxes up to 70MW capacity
with speeds of 70,000 rpm and Defence products and solutions for the Indian Navy.
Performance
Q3 FY 24
Q3 FY 23
Change %
9M FY 24
9M FY 23
Change %
Revenue (₹ crore) PBIT (₹ crore) Order Booking (₹ crore) Closing Order Book (₹ crore)* *including long duration orders
71.1 26.5 85.6 297.2
60.5 21.0 79.6 262.7
17.5 25.8 7.5 13.1
203.6 73.7 240.5 297.2
152.1 50.9 193.4 262.7
33.9 44.8 24.3 13.1
•
Increase in 9M FY 24 turnover and profitability (PBIT) by 33.9% and 44.8% respectively driven by
increased product sales, favourable product mix, improved realisations and cost control measures
• Order booking continues to be robust with higher domestic contribution
• The outstanding order book as on December 31, 2023 stood at ₹ 297.2 crore including long duration
orders of ₹ 136.3 crore.
10
Outlook
• Domestic outlook remains strong in steel sector with planned brownfield and greenfield expansions
• High potential especially for aftermarket services domestically in fertilizer, oil and gas, power sectors.
• Domestic product segment continues to grow mainly driven by Steam Turbine Generator (STG)
• Growing potential in the Waste-to-Energy (WtE) through agricultural and municipal waste
• On the export front, positive outlook on order bookings driven by focus on market share gains in
product segment, through greater promotion of our technology and focus on new and existing
customer relationships. And increasing footprint to capture high-growth opportunities for Aftermarket
segment through a combination of own efforts and expanding the agents’ network.
•
In the Defence segment, the business expects increased order booking from key segments of Gas
Turbines packaging, propulsion gearboxes, propulsion shafting and special application pumps where
the key activities of qualifications and Request For Proposal (RFP) have progressed considerably in the
last couple of years
• Setting up of dedicated multi-modal facility for Defence products will also help the business gain
confidence of key customers and expand its service offerings
Water business
This business is focused on providing world-class solutions in water and wastewater treatment to customers in
industrial and municipal segments. This business is gaining faster momentum and is getting recognition in a high
potential market as a supplier of superior quality products and services at competitive costs.
Performance
Q3 FY 24
Q3 FY 23
Change%
9M FY 24
9M FY 23
Change%
Revenue (₹ crore) PBIT (₹ crore) Orders Received (₹ crore) Closing Order Book (₹ crore)* * including long duration orders for Operations & Maintenance (O&M)
103.9 7.7 11.7 1,503.3
53.2 6.2 10.2 1248.8
-48.8 -19.9 -12.8 -16.9
180.0 15.8 29.1 1248.8
237.4 14.8 190.5 1503.3
-24.2 7.2 -84.7 -16.9
• The above results are based on consolidated results including wholly owned SPV executing Mathura Project
awarded by National Mission of Clean Ganga (NMCG) under Namami Gange Programme and Pali ZLD Pvt.
Ltd.
• Revenues declined due to delay in execution in certain projects.
• The business is actively targeting foreign projects wherever it possesses the pre-qualifications and funding
is ensured through multilateral and reputed agencies.
• The outstanding order book as on December 31, 2023 stood at ₹ 1248.8 crore, which includes ₹ 878.9 crore
towards O&M contracts for a longer period of time.
11
Outlook
• After achieving success in Maldives and Bangladesh, Water business is trying to expand activities in overseas
markets.
• Domestic market opportunities are increasing in Recycle & Reuse of wastewater and Water business is
equipped to target this market.
• Business is also exploring Public Private Partnership (PPP) opportunities for Sewage Treatment Plant (STP)
recycling.
• Municipal business opportunities are looking attractive in many states
• Outlook is positive for EPC and HAM projects driven by large investments by Governments, both at state
level and at central. Market is witnessing increasingly more & more projects under Public Private Partnership
(PPP) - HAM model and the Company would widely participate in this business segment.
12
Attached: Details to the Announcement and Results Table
About Triveni Engineering & Industries Limited Triveni Engineering & Industries Limited (TEIL) is a diversified industrial conglomerate having core competencies in the areas of sugar, alcohol, power transmission and water. The Company holds the position of one of India's largest integrated sugar manufacturers and one of the largest ethanol manufacturers, while making significant contributions in Power Transmission and in Water & Wastewater treatment solutions. TEIL currently has seven sugar mills in operation at Khatauli, Deoband, Sabitgarh, (all in western Uttar Pradesh), Chandanpur, Rani Nangal and Milak Narayanpur (all in central Uttar Pradesh) and Ramkola (eastern Uttar Pradesh). While the Company’s Power Transmission (Gears) manufacturing facility is located at Mysuru, the Water & Wastewater treatment business is located at Noida. The Company currently operates 6 co-generation power plants located across five sugar units, with 104.5 MW grid connected co-generation capacity.
The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – 2 facilities, Sabitgarh (SBT) and Milak Narayanpur (MNP) in Uttar Pradesh aggregating to 660 KLPD. These facilities have the capability to produce Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS). The Company utilises a mix of sugarcane-based feedstocks as well as grain. Distillers Dried Grain Solubles (DDGS), a co-product produced on grain operations is also sold to premium Institutions and has been well accepted in market. The Company also manufactures Indian Made Indian Liquor (IMIL).
The Company produces premium quality multi-grade crystal sugar, raw (as per the market/export requirements), refined and pharmaceutical-grade sugar. All of the Sugar units are FSSC 22000 certified. The sugar is supplied not only to household consumers but also to bulk consumers. The Company has supply chain relationship with leading multinational beverage, food & FMCG companies, pharmaceutical companies and leading confectionery producers. It also has a strong presence in branded sugar market through its brand “Shagun”.
The Company is a dominant market player in the engineered-to-order turbo gearbox manufacturer in India. The Power Transmission business has 3 different business segments – Gears, Defence, Built to Print. It delivers robust and reliable Gears solutions which cover a range of applications and industries to meet the ever-changing operating conditions and customers’ requirements. The Company has become a dominant supplier to all major OEMs in the country, offering solutions to all industrial segments including Oil and Gas as per AGMA, API-613 and API-677 standards. It is amongst the market leaders in high-speed Gears and Gearboxes up to 70 MW capacity and speed of 70,000 rpm. The major product portfolio includes steam turbines, gas turbines and compressor gearboxes under the High-Power High-Speed segment. In the Low-Speed segment, the Company focuses on the gearboxes used in applications such as reciprocating pumps and compressors, hydel turbines, mill and extruder drives for metal, sugar, rubber and plastic industries, marine applications, etc. Its robust and reliable products are backed by 360- degree service solutions which minimise the downtime for its customers. The Company provides health monitoring services for all types of critical gearboxes, high-speed and low-speed, as well as maintains an inventory of dimension ready sites for immediate solution.
The Company provides complete and sustainable water technology solutions across the water usage segments. Advanced Solutions offered for total water management include turnkey / EPC, customer care, operations and maintenance, life cycle models such as Design, Build Own & Operate (DBOO), Design, Build Own Operate and Transfer (DBOOT), BOOT, equipment supply for unit processes like screening, grit separation, clarification and sludge handling. The Customer Care Division offers value added services for operation management and performance optimisation. The quality service offerings are tailored to customers’ requirements, which in many cases form an integral part of the main contract - operations and maintenance, annual maintenance contracts, product & process audit, health check-up and overhauling, pilot experiments, refreshment, upgradation and automation of existing plants, spares and service consumables and chemicals and on-site training and assistance.
Triveni Brands is the FMCG Division of the Company which currently constitutes Shagun Sugar, Triveni Sugar and the Private Label Business. The mission of this division is to create innovative and high-quality products that delight customers. Our products have a strong omni-channel strategy and we are committed to growing in a sustainable manner while keeping customer at the very center.
As a result of a Scheme of Arrangement, the Company's steam turbine division was demerged into one of its wholly owned subsidiaries, Triveni Turbine Limited (TTL), and was listed on the NSE and BSE in 2011. The Company owned 21.85 of TTL's equity, until September 21, 2022 when the entire stake was divested with net proceeds of ₹ 1,593 crore.
13
For further information on the Company, its products and services please visit www.trivenigroup.com
Surabhi Chandna Triveni Engineering & Industries Ltd Ph: +91 120 4308000 Fax: +91 120 4311010, 4311011 E-mail: ir@trivenigroup.com
Gavin Desa/ Rishab Barar CDR India Ph: +91 22 6645 1237 / 1235 Fax: +91 22 22844561 E-mail: gavin@cdr-india.com|rishab@cdr-india.com
Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Triveni Engineering & Industries Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
14
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Regd. Office : A-44, Hosiery Complex, Phase-II Extension, Noida, Uttar Pradesh - 201 305 Corp. Office : 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201 301 CIN : L15421UP1932PLC022174
Statement of Standalone Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2023
es
31/Dec/2023 (Unaudited)
3 Months ended 30/Sep/2023 (Unaudited)
31/Dec/2022 (Unaudited)
31/Deo/2023 (Unaudited)
31/Dec/2022 (Unaudited)
9 Months ended
Year ended 31/Mar/2023 (Audited)
(@ in lakhs, except per share data)
1 Revenue from operations 2 Other income Total income
3 Expenses
(a) (b) (c)
Cost of materials consumed Purchases of stock-in-trade Changes in inventories of finished goods, stock-in-trade and work-in-progress
(d)
Excise duty on sale of goods
(e) Employee benefits expense
(f)
Finance costs
(g)
(h)
Depreciation and amortisation expense
Other expenses
Total expenses
4 Profit/(loss) from continuing operations before exceptional
items and tax
5 Exceptional items (net) - income/ (expense) 6 7 Tax expense
_Profit/(loss) from continuing operations before tax
(a) (b)
Current tax Deferred tax Total tax expense Profit/(loss) from continuing operations after tax
8
9 Profit/(loss) from discontinued operations 10 Tax expense of discontinued operations
11 Profit/(loss) from discontinued operations (after tax) 12 Profit/(loss) for the period 13 Other comprehensive income
A (i) Items that will not be reclassified to profit or loss A
(ii) Income tax relating to items that will not be reclassified to
profit or loss
B (i)
Items that will be reclassified to profit or loss
B (ii) Income tax relating to items that will be reclassified to profit
or loss
Other comprehensive income for the period, net of tax
14 Total comprehensive income for the period 15 Paid up equity share capital (face value = 1/-)
16 Other equity
17 Earnings/ (loss) per share of = 1/- each (not annualised)
(a)
(b)
Basic (in 2)
Diluted (in %)
See accompanying notes to the standalone financial results
155338 1785 157123
134587 1720
= (51137)
24246
9633
434
2616
16880 138979 18144
- 18144
3981 466 4447 13697
- =
- 13697
_
%
6
1
5 13702 2189
6.26
6.26
161666 803 162469
12025 1042
98589
20854.
8212
800
2576
14584 158682 3787
- 3787
892 83 975 2812
-
- 2812
-
.
(4)
(1)
(3) 2809 2189
1.28
1.28
165737 3342 169079
127751 1377
(26433)
19599
8696
627
2381
15338 149336 19743
: 19743
4677 448 5125 14618
a =
- 14618
-
?
24
6
18 14636 2418
6.05
6.05
460162 3387 463549
217960 4046
59867
68532
26475
3102
7718
44942 432642 30907
- 30907
6962 775 7737 23170
- =
- 23170
-
4
65
16
49 23219 2189
10.58
10.58
448920 6185 455105
211873 3352
88643
45753
24852
4195
6901
39143 424712 30393
158594 188987
14376 1168 15544 173443
- eB
- 173443
253
Ge
(345)
(87)
(69) 173374 2418
71.74
71.74
630690 7915 638605
395153 4624
8872
69326
34702
4984
9348
56277 583286 55319
158594 213913
19680 1832 21512 192401
7 =
- 192401
(232)
(58)
(194)
(49)
(319) 192082 2189
263750
80.08
80.08
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Standalone Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Nine Months ended December 31, 2023
Patience
31/Dec/2023 (Unaudited)
3 Months ended 30/Sep/2023 (Unaudited)
31/Dec/2022 (Unaudited)
31/Dec/2023 (Unaudited)
31/Dec/2022 (Unaudited)
9 Months ended
(@ in lakhs)
Year ended 31/Mar/2023 (Audited)
1
Segment Revenue (a)
Sugar & Allied Businesses Sugar Distillery
(b)
Engineering Businesses Power transmission Water
(c)
Others
Total Segment revenue Less : Inter segment revenue Total Revenue from operations
2 Segment Results
(a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment results Less : (i) (ii) (iii) Other unallocable expenditure net of unallocable income
Finance costs Exceptional items (net) - (income)/expense
Total Profit/(loss) before tax
3 Segment Assets
{a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment assets Add : Unallocable assets Total Assets
4 Segment Liabilities
(a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment liabilities Add : Unallocable liabilities Total Liabilities
102703 54971 157674
7108 5290 12398
5105
175177 19839 155338
11992 3742 15734
2646 653 3299
(9)
19024
434 - 446
18144
212482 99458 311940
20929 38267 59196
1100
372236 56127 428363
45422 9051 54473
6503 16035 22538
219
77230 69090 146320
101100 55261 156361
7846 6141 13987
4390
174738 13072 161666
(2215) 5046 2831
2886 568 3454
(30)
6255
800 - 1668
3787
159688 91403 251091
19652 37958 57610
1455
310156 49356 359512
10617 8872 19489
6740 16208 22948
631
43068 48102 91170
113164 48157 161321
6052 10252 16304
4057
181682 15945 165737
11369 5014 16383
2104 843 2947
(191)
19139
627 - (1231)
19743
185346 84480 269826
18667 390506 57723
1231
328780 145460 474240
42583 7699 50282
4503 18776 23279
595
74156 54124 128280
293036 163210 456246
20363 17835 38198
13265
507709 47547 460162
14732 13890 28622
7372 1599 8971
(75)
37518
3102 - 3509
30907
212482 99458 311940
20929 38207 59196
1100
372236 56127 428363
45422 9051 54473
6503 16035 22538
219
77230 69090 146320
319103 127369 446472
15207 23476 38683
11745
496900 47980 448920
14194 14716 28910
5091 1512 6603
(644)
34869
4195 (158594) 281
188987
185346 84480 269826
18667 39056 57723
1231
328780 145460 474240
42583 7699 50282
4503 18776 23279
595
74156 54124 128280
436195 186553 622748
22525 34898 57423
15936
696107 65417 630690
30583 21232 51815
7644 2559 10203
(801)
61217
4984 (158594) 914
213913
264700 88468 353168
21071 40087 61158
1123
415449 19121 434570
36871 6953 43824
5711 20095 25806
592
70222 98409 168631
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Notes to the Standalone Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2023
1.
N
3.
4.
5.
The above financial results have been prepared in accordance with the principles and procedures ol the Indian Accounting Standards (‘Ind AS’) notified under section 133 of the Companies Act, 2013 [Companies (Indian Accounting Standards) Rules, 2015 (as amended)].
In view of the seasonality of the Sugar Business, the performance results may vary from quarter to quarter.
The Board of Directors of the Company has declared an interim dividend of 225 % (% 2.25 per equity share of face value of ¢ 1/- each) for the financial year ending 31 March 2024 and a special dividend of 225 % (® 2.25 per equity share of face value of = 1/- each).
Previous period figures have been regrouped/rearranged, wherever necessary, to correspond to current period’s presentation.
The above financial results have been reviewed and recommended for adoption by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on January 29, 2024 and January 30, 2024. The statutory auditors have carried out a limited review of the above financial results.
Place : Sabitgarh (U.P.)
Date : January 30, 2024
For Triveni Engineering & Industries Limited
oa
Dhruv M. Sawhney
Chairman & Managing Director
TRIVENI ENGINEERING & INDUSTRIES LIMITED Regd. Office : A-44, Hosiery Complex, Phase-II Extension, Noida, Uttar Pradesh - 201 305 Corp. Office : 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201 301 CIN : L15421UP1932PLC022174
Statement of Consolidated Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2023
Particulars
31/Dec/2023 (Unaudited)
3 Months ended 30/Sep/2023 (Unaudited)
9 Months ended
31/Dec/2022 (Unaudited)
31/Dec/2023 (Unaudited)
31/Dec/2022 (Unaudited)
Year ended 31/Mar/2023 (Audited)
(& in lakhs, except per share data)
1 Revenue from operations 2 Other income Total income Expenses
3
(a) (b) (c)
(d) (e) () (g) (h)
Cost of materials consumed Purchases of stock-in-trade Changes in inventories of finished goods, stock-in-trade and work-in-progress
Excise duty on sale of goods Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses
4
Total expenses Profit/(loss) from continuing operations before share of profit/(loss) of associates and joint ventures, exceptional items and tax. Share of profit/(loss) of associates and joint ventures
5 6 epee from continuing operations before exceptional items
7_Exceptional items (net) - income/ (expense) 8 9 Tax expense
_Profit/(loss) from continuing operations before tax
(a) (b)
Current tax Deferred tax
Total tax expense
10 Profit/(loss) from continuing operations after tax 11 Profit/(loss) from discontinued operations 12 Tax expense of discontinued operations 13 Profit/ (loss) from discontinued operations (after tax) 14 Profit/(loss) for the period
Profit/(loss) for the period attributable to :
(i) (ii)
Owners of the Company _Non-controlling interests
15 Other comprehensive income
A (i)
Items that will not be reclassified to profit or loss
A (ii) Income tax relating to items that will not be reclassified to
B(i)
profit or loss Items that will be reclassified to profit or loss i Income tax relatin;
(ii) (ii) — elating to items
that will
B
i be reclassified to profit
lassifi
Other comprehensive income for the period, net of tax
Other comprehensive income for the period, net of tax attributable to:
(i) (ii)
Owners of the Company _Non-controlling interests 16 Total comprehensive income for the period
Total comprehensive income for the period attributable to:
(i) (ii)
Owners of the Company _Non-controlling interests 17 Paid up equity share capital (face value = 1/-) 18 Other equity 19 Earnings per share of @ 1/- each (not annualised)
(a) (b)
Basic (in 2) Diluted (in %)
See accompanying notes to the consolidated financial results
155364 2191 157555
134587 1720 (51137)
24246 9669 647 2616 16982 139330
18225
(16) 18209
= 18209
4002 467 4469 13740 = - : 13740
13740 :
2
7
5 1
4
4
: 13744
13744 : 2189
6.28 6.28
161738 1235 162973
12025 1042 98589
20854 8247 1019 2576 14688 159040
3933
(17) 3916
- 3916
926 79 1005 2911 = - - 2911
2911 -
=
(4) a)
(3)
(3)
- 2908
2908 - 2189
1.33 1.33
165871 3727 169598
127752 1377 (26433)
19599 8724 813 2381 15514 149727
19871
- 19871
- 19871
4694 449 5143 14728 - - - 14728
14728 -
a
r
24 6
18
18
- 14746
14746 - 2418
6.09 6.09
460328 4647 464975
217960 4046 59867
68532 26585 3749 7718 45257 433714
31261
(36) 31225
- 31225
7041 772 7813 23412 ee - - 23412
23412 -
-
¥
65 16
49
49
- 23461
23461 - 2189
10.70 10.70
449181 5884 455065
211873 3352 88643
45753 24941 4694 6901 39354 425511
29554
1633 31187
140120 171307
14411 (3253) 11158 160149 - - - 160149
160149 -
253
64
(407) (93)
(125)
(125) - 160024
160024 - 2418
66.24 66.24
631010 8041 639051
395153 4624 8872
69326 34828 5674 9348 56615 584440
54611
1633 56244
140120 196364
19741 (2557) 17184 179180 - - - 179180
179180 -
(232)
(58)
(256) (55)
(375)
(375) - 178805
178805 - 2189 264336
74.58 74.58
Consolidated Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Nine Months ended December 31, 2023
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Sees
31/Dec/2023 | (Unaudited)
3 Months ended 30/Sep/2023 | (Unaudited)
31/Dec/2022 (Unaudited)
1
Segment Revenue
(a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment revenue Less : Inter segment revenue Total Revenue from operations
2 Segment Results
(a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment results Less : (i) (ii) (iii) (iv)
Finance costs Exceptional items (net) - (income)/expense Share of (profit)/loss of associates and joint ventures Other unallocable expenditure net of unallocable income
Total Profit/(loss) before tax
3 Segment Assets
(a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment assets Add : Unallocable assets Total Assets
4 Segment Liabilities
(a)
(b)
Sugar & Allied Businesses Sugar Distillery
Engineering Businesses Power transmission Water
(c)
Others
Total Segment liabilities Add : Unallocable liabilities Total Liabilities
102703 54971 157674
7108 5316 12424
5105
175203 19839 155364
11992 3742 15734
2646 620 3266
(9)
18991
647 -
16 146
18209
212482 99458 311940
20929 55315 76244
1100
389284 50035 439319
45422 9051 54473
6503 17542 24045
219
78737 77711 156448
101100 55261 156361
7846 6213 14059
4390
174810 13072 161738
(2215) 5046 2831
2886 663 3549
(30)
6350
1019 -
17 1398
3916
159688 91403 251091
19652 55082 74734
1455
327280 43386 370666
10617 8872 19489
6740 17759 24499
631
44619 56920 101539
113164 48157 161321
6052 10386 16438
4057
181816 15945 165871
11369 5014 16383
2104 774 2878
(191)
19070
813 - - (1614)
19871
185346 84480 269826
18667 56623 75290
1231
346347 138986 485333
42583 7699 50282
4503 20562 25065
595
75942 62918 138860
9 Months ended.
31/Dec/2023 (Unaudited)
31/Deg/2022 (Unaudited)
293036 163210 456246
20363 18001 38364
13265
507875 47547 460328
14732 13890 28622
7372 1583 8955
(75)
37502
3749 -
36 2492
319103 127369 446472
15207 23737 38944
11745
497161 47980 449181
14194 14716 28910
5091 1476 6567
(644)
34833
4694 (140120) (1633) 585
(2 in lakhs)
Year ended 31/Mar/2023 (Audited)
436195 186553, 622748
22525 35217 57742
15936
696426 65416 631010
30583 21232 51815
7644 2428 10072
(801)
61086
5674 (140120) (1633) 801
31225
171307
196364
212482 99458 311940
20929 55315 76244
1100
389284 50035 439319
45422 9051 54473
6503 17542 24045
219
78737 77711 156448
185346 84480 269826
18667 56623 75290
1231
346347 138986 485333
42583 7699 50282
4503 20562 25065
595
75942 62918 138860
264700 88468 353168
21071 57178 78249
1123
432540 12904 445444
36871 6953 43824
5711 21773 27484
592
71900 107019 178919
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Noles to the Consolidated Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2023
L
V N
The above financial results have been prepared in accordance with the principles and procedures of the Indian Accounting Standards (‘Ind AS’) notified under section 133 of the Companies Act, 2013 [Companies (Indian Accounting Standards) Rules, 2015 (as amended)].
in view of the seasonality of the Sugar Business, the performance results may vary from quarter to
quarter.
The standalone unaudited financial results of the Company are available on the Company's website (www.trivenigroup.com), website of BSE (www.bseindia.com) and NSE (www.nseindia.com). Sumunarised standalone financial performance of the Company is as under :
3 Months ended
(2 in lakhs) Year ended 31-Dec-2023 | 30-Sep-2023 | 31-Dec-2022 | 31-Dec-2023 | 31-Dec-2022 | 31-Mar-2023 (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) 155338 630690
9 Months ended
448920
460162
165737
161666
3787
19743
30907
188987
|
213913
2812
14618
23170
173443
|
192401
2809
14636
23219
173374
192082
Particulars
Bee Bek operations Profit/ (loss) pele es et | 1g4e exceptional items) Profit/ (loss) ates fax exceptional items) Total comprehensive income
15697
(alter |
13702
The Board of Directors of the Company has declared an interim dividend of 225 % (% 2.25 per equity share of face value of = 1/- each) for the financial year ending 31 March 2024 and a special dividend of 225 %
share of face value of % 1/- each).
(2 2.25
per
equity equity
per
Previous period figures have been regrouped/rearranged, wherever necessary, to correspond to current period’s presentation.
The above financial results have been reviewed and recommended for adoption by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on January 29, 2024 and January 30, 2024. The statutory auditors have carried out a limited review of the above financial results,
Place : Sabitgarh (U.P.)
Date : January 30, 2024
For Triveni Engineering & Industries Limited
po ee ee
Dhruv M. Sawhney
Chairman & Managing Director