TRIVENINSE5 November 2022

Triveni Engineering & Industries Limited has informed the Exchange about Investor Presentation

Triveni Engineering & Industries Limited

·z""·

PIVEnI ENGINEERING & INDUSTRIES LTD.

'- +91 120 4308000

+91 120 4311010/11 e www.trivenigroup.com

REFTEIL·SE· BSE Limited Department of Corporate Services, Rotunda Building, P.J. Tower, Dalal Street, Fort, MUMBAI - 400 001 Thru: BSE Listing Centre STOCK CODE: 532356 Sub: Investors' brief for Hl FY 2023 ended Sept. 30, 2022

National Stock Exchange of India Ltd., Listing Department Exchange Plaza, 5" Floor, Bandra-Kurla Complex, Bandra (E), MUMBAI - 400 051 Thru: NEAPS STOCK CODE: TRIVENI

Date: 5"N ovember. 2022

Dear Sirs,

We send herewith a copy of investors' brief on the performance of the Company for the HI FY2023 (consolidated) ended Sept. 30, 2022 for your information. The same is also being made available on the Company's website www.trivenigroup.com.

Thanking you,

Yours faithfully, For Triveni Engineering & Industries Ltd.

1 dlrA ALLA

Group Vice President & Company Secretary M.No.A9475

Encl: As above

Co rpo rate Office: 8th Floor, Express Trade Towers, Pl_ot 15 & 16, Sector 16-A, Noida, Uttar Pradesh - 201301, Indi a. Registered Office: A-44, Hosiery Complex, Phase-II 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

H1 FY 23 Consolidated Results ended Sep 30, 2022

• Revenue from Operations (Net of excise duty) at ` 2571.56 crore, an increase of 22% • Profit before exceptional items and tax at ` 113.16 crore • Profit on divestment of stake in Triveni Turbine Limited (TTL) at ` 1401.20 crore

• Profit after Tax at ` 1454.21 crore

• Sugar Businesses

▪

India’s sugar production in Sugar Season (SS) 2022-23 is estimated to increase to 36.5 million tonnes with a diversion of ~ 4.5 million tonnes for ethanol production, 32% higher diversion than SS 2021- 22

▪ Ethanol prices for Ethanol Supply Year (ESY) recently increased by ` 1.63 to ` 2.75 / litre for different

feedstocks, over prices of previous year and before interim relief Increased sugar turnover due to improved realisations and higher sales volumes

▪ ▪ Additional distillation capacities commissioned during the quarter, resulting in increased sales

volumes – aggregate distillation capacity 660 KLPD

▪ Crushing for SS 2022-23 commenced in six of the seven units ▪ Modernisation at three sugar units completed leading to enhancement in crushing efficiency along with higher refined sugar production capacity and doubling of pharmaceutical-grade sugar production capacity

• Engineering Businesses

▪ Robust order booking in Power Transmission business growing 29% year-on-year in H1 FY 23 ▪ Water Business has achieved Commercial Operations Date (COD) for entire Mathura Hybrid Annuity

Mode (HAM) project on October 21, 2022

▪ Outstanding order book of ` 1,825 crore for combined Engineering Businesses as compared to

` 1,699 crore in previous corresponding period, an increase of 7.4%

• Buy Back approved by the Board

The Board of Directors of the Company, 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 ` 350 per equity share for an aggregate amount not exceeding ` 800 crore, through tender offer on proportionate basis

Noida, November 05, 2022: Triveni Engineering & Industries Ltd. (‘Triveni’), one of the largest integrated sugar

producers in the country, a dominant player in engineered-to-order high speed gears & gearboxes and a leading

player in water and wastewater management business, today announced its financial results for the second quarter

and half year ended Sep 30, 2022 (Q2/H1 FY 23). 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: Q2/H1 FY 23 (Consolidated Audited 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 annualized) (`/share)

Q2 FY 23

Q2 FY 22

Change %

H1 FY 23

H1 FY 22

In ` crore Change %

1,471.62

1,155.02

27.4

2,833.10

2,266.48

25.0

1,345.89

1,068.46

57.09 4

7.96

115.91 11

37.96

26.0

-50.8

2,571.56

2,105.22

180.84 7

269.13 13

22.2

-32.8

-79.0

16.33

44.02

-62.9

24.48

121.46

-79.8

113.16

245.35

-53.9

1,401.20

1,425.68

121.46

1073.8

1,514.36

245.35

1,387.76

92.47

1400.8

1,454.21

184.77

0.31

1,388.07 57.40

4.58

97.05 3.82

-93.2

(1.43)

4.42

1330.3 1402.6

1,452.78 60.15

189.19 7.64

517.2

687.0

667.9 687.3

• Net turnover has increased by 26.0% in Q2 FY 23 & 22.2% in H1 FY 23 primarily driven by higher sugar and alcohol

dispatches along with higher realizations

• Profit before tax (PBT) before exceptional items during Q2 FY 23 declined by 79.8% and 53.9% in H1 FY 23 as

compared to corresponding periods of previous year, to ₹ 24.48 crore and ₹ 113.16 crore respectively. The

contribution on sale of sugar during the current periods is lower due to the impact of higher sugarcane price (State

Advised Price) in the SS 2021-22 not fully compensated by increase in sugar realizations. In addition, Q2 & H1 FY 22

included export subsidy of ₹ 11.7 crore and ₹ 57 crore respectively pertaining to export booked during the previous

period/s (but relating to earlier periods). Excluding the impact of this, the decline would be 77.7% and 39.9%

respectively for Q2 & H1 FY 23.

• Engineering business at an aggregate level reported strong revenue increase of 26.8% during the current quarter

under review over the corresponding period last year.

• The Company has divested its entire stake of 21.85% in the associate company, Triveni Turbine Limited (TTL), and

accordingly exceptional income of ₹ 1401.20 crore has been recognized. Share of profit from TTL has been

considered up to 20th September, 2022 and thereafter, it ceases to be an associate company. Net divestment

proceeds of ₹ 1593 crore are held in fixed deposits with various banks.

• The total debt on a standalone basis as on September 30, 2022 is ₹ 646.65 crore (net of Fixed Deposits (FD) of

₹ 148 crore made from operational surplus) as against ₹ 1503.74 crore as on March 31, 2022. It comprises term

loans of ₹ 372.38 crore, almost all such loans are with interest subvention or at subsidized interest rate. On a

consolidated basis, the total debt is at ₹ 720.73 crore (net of FD of ₹ 148 crore made from operational surplus) as

on September 30, 2022 as against ₹ 1567.96 crore as on March 31, 2022. The above debt position is without

considering net divestment proceeds of ₹ 1593 crore held in fixed deposits with various banks.

• Overall average cost of funds is at 5.16% during Q2 FY 23 as against 5.09% in the corresponding period of previous

year.

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 half year ended Sept 30, 2022 has been satisfactory. Sugar and

distillery segments witnessed higher dispatches during Q2 / H1 FY 23 with higher realizations. The profitability in

the sugar business has been impacted by 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 realization 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 stabilized 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 estimate of 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 exports contracts could be entered into, taking advantage of

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 second week of November. As a result of the debottlenecking and modernization 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 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 gamechanger 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 ₹ 1593 crore unlocking significant value for shareholders. This has led to unbundling of businesses and

monetization 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 ₹ 350 per equity share for an aggregate amount not exceeding ₹ 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 businesses to leverage the market opportunities with its strong

capabilities and strategic focus.”

Q2/H1 FY 23: BUSINESS-WISE PERFORMANCE REVIEW

(all figures in ` crore, unless otherwise mentioned)

Sugar business

Triveni is one of the largest sugar producers in the Indian sugar sector, with seven sugar manufacturing facilities

located in the state of Uttar Pradesh.

Performance

Q2 FY 23 Q2 FY 22

Change %

H1 FY 23 H1 FY 22

Sugar Dispatches (Tonnes)

- Domestic - Exports - Total

Domestic Realization price (`/MT) Export Realization price (excl. subsidy) (`/MT) Revenue (` crore) PBIT (` crore)

259895 - 259895 35447

211941 - 211941 34902 -

1007.70 (25.04)

797.99 28.28

22.6 - 22.6 1.6

26.3 -

Change %

28.8 - 17.2 3.4

499435 - 499435 35373 -

387893 38066 425959 34212 25785

2059.39 28.25

1695.18 123.25

21.5 (77.08)

• Higher sales volumes and realisations led to growth in revenues.

• Profitability was, however, impacted by lower contribution due to increased cost of sugar produced in the SS

2021-22 owing to significant increase in sugarcane price (State Advised Price), which could only be partially

offset by increased sugar realisation price. Further, increased cost due to increase in wage board arrears of ~

₹ 5 crore and increase in levy molasses obligation by 2% also impacted the profitability.

• Q2 & H1 FY 22 included export subsidy of ₹ 11.7 crore and ₹ 57 crore respectively pertaining to export booked

during the previous period/s (but relating to earlier periods).

• The sugar inventory as on September 30, 2022 was 20.81 lakh quintals, which is valued at around ₹ 32/kg.

• Co-generation operations (including incidental co-generation) achieved external sales of ₹ 16.91 crore during

H1 FY 23 as against ₹ 14.23 crore in H1 FY 22, an increase of 19%. There were no operations in Q2 FY 23, being

the off-season.

Industry Scenario – Domestic

• Based on the recent estimates, the total acreage under sugarcane in the country is estimated to be around 59

lakh hectares in Sugar Season (SS) 2022-23, which is about 6% higher than SS 2021-22 sugarcane area of around

56 lakh hectares.

• Estimated sugar production for SS 2022-23 as compared to SS 2021-22:

S.No

States

1 Uttar Pradesh 2 Maharashtra 3 4 5 6

Karnataka Tamil Nadu Gujarat Others Total (estimated end of season)

2021-22

Estimated sugar production

Before Diversion

Estimated sugar diversion

Actual sugar production After Diversion

In Million tonnes

2022-23

Estimated sugar production

Before Diversion

11.4 14.9 6.8 1.3 1.2 3.6

39.2

3.4

10.2 13.7 6.0 1.3 1.2 3.4

3.4

35.8

12.3 15.0 7.0 1.4 1.3 4.0

41.0

Estimated sugar diversion

Actual sugar production

After Diversion

4.5

36.5

4.5

36.5

Source: ISMA

• Sugar balance sheet:

o Sugar production in SS 2022-23 before considering diversion towards ethanol is estimated to be higher by

about 5% at around 41.0 million tonnes, against 39.2 million tonnes produced in SS 2021-22.

It is expected that in the current year, sugar diversion towards production of ethanol is estimated to be

higher by 32% at 4.5 million tonnes against 3.4 million tonnes in the last season.

The recent estimates indicate net sugar production in SS 2022-23 at around 36.5 million tonnes.

o With an opening balance as on October 1, 2022 of around 5.5 million tonnes, estimated sugar production

for SS 2022-23 of around 36.5 million tonnes and estimated domestic sales of around 27.5 million tonnes,

around 9 million tonnes of sugar needs to be exported to maintain the closing stock at similar levels

•

In Oct 2022, the Government has extended the restriction on sugar exports (raw, refined, and white sugar)

beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier.

• The timeline for exports in the current year appears to be quite short for Indian sugar due to global demand-

supply gaps and currently, international prices are strong. Thus, it is anticipated by the industry that the

Government will announce the export policy for the SS 2022-23 at the earliest.

Industry Scenario – International

• Based on international reports, the forecast for global sugar balance for SS 2022-23 is surplus of 5.2 million

tonnes. This is driven by increased production by major sugar producers such as India, Brazil and Thailand.

• Higher supply eventually leading to higher ending stocks in 2022-23 by 3.2 million tonnes to 96.3 million tonnes.

• Center South Brazil sugar production is expected to return to normal level of around 36 million tonnes during

the next year, which is due to start in April 2023. It is expected that Center South Brazil may have higher sugar

mix for 2022-23 and 2023-24 seasons (April – March). Decrease in freights cost are likely to favour exports from

Brazil.

• Thailand production is also expected to increase to around 11.5 - 12 million tonnes in 2022-23 season starting

October 2022.

• New York 11 Raw Sugar futures during the previous quarter were hovering between 17.42 to 19.38 cents per

pound. At present price are around US 18.7 cents/lb. The London White Sugar #5 December month contract

was trading at $ 539/tonne and March month contract was trading at $ 512.4/tonne on November 4, 2022

Alcohol (Distillery) business

The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – based on molasses and grain,

Sabitgarh (SBT) – molasses based and Milak Narayanpur (MNP) – molasses/ sugarcane juice/ syrup/ grain based

with 660 KLPD aggregate current capacity. High-quality Ethanol is manufactured at SBT distillery. MZN boasts of

flexible product manufacturing capability - Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured

Spirit (SDS) from molasses and grain. The Company also manufactures Indian Made Indian Liquor (IMIL) at this

distillery.

Performance

Q2 FY 23 Q2 FY 22 Change % H1 FY 23 H1 FY 22

Change %

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)

43070 45709 58.10*

5.97

412.89 287.16 47.18

27341 37066 51.52

3.69

284.44 197.88 48.34

57.5 23.3 12.8

61.9

45.2 45.1 -2.4

85343 84611 57.96*

12.53

792.12 530.58 97.02

54155 64381 52.56

6.78

512.00 350.74 82.88

*Includes relief announced by OMCs from June 1, 2022

57.6 31.4 10.3

84.8

54.7 51.3 17.1

• Additional capacities commissioned in H1 FY 23 resulting in increased sales volumes - aggregate distillation

capacity 660 KLPD

• The profitability margins have been impacted due to increased transfer price of B-heavy molasses, initial

stabilization period and relatively lower margin with grain as feedstock. Sale of ethanol produced from grain

accounted for 24% and 13% of total sales volumes in the current quarter and half year.

• Ethanol produced from B-heavy constitutes 70% and 79% of the sales volume in the current quarter and half

year as against 73% and 76% in the corresponding periods of the previous year

Domestic Industry Scenario

• Out of the 455.6 crore liters finalised by the OMCs for the Ethanol Supply Year (ESY) 2021-22 (Dec-Nov) against

a total requirement of 458.6 crore liters, contracts for 454.1 crore liters have been executed till October 23,

2022.

• Against the above, 371.7 crore liters have been lifted by the OMCs till October 23, 2022.

• The total lifted quantity is 82% of the contracted quantity.

• The average blending percentage is 9.57% till October 23, 2022.

• Till October 23, 2022, out of total ethanol supply of 371.7 crore litres, 70.2 crore litres have been supplied from

Sugarcane Juice and 234.33 crore litres have been supplied from B-Heavy Molasses.

• OMCs had recently invited bids for the supply of around 651 crore litres of ethanol for the Ethanol Supply Year

(ESY) 2022-23

• The Government has recently announced ethanol prices under the EBP Programme for ESY 2022-23.

Revised rates are as below:

Sugarcane Juice / Sugar / Sugar Syrup

B-Heavy Molasses

C-Heavy Molasses

Damaged Food Grain

Surplus Rice sourced from FCI

₹ per litre ESY 22-23 ESY 21-22 including relief ESY 21-22

65.61 65.05 63.45

60.73 60.57 59.08

49.41 47.84 46.66

55.54 55.26 52.92

58.50 58.31 56.87

• ESY has also been redefined as a period of ethanol supply from 1st November of a year to 31st October of next

year from 1st November 2023 onwards. In view of the above change in ESY period, the ESY 22-23 period will be

considered from 1st December 2022 to 31st October 2023 i.e. 11 months.

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.

Performance

Q2 FY 23

Q2 FY 22

Change %

H1 FY 23

H1 FY 22

Change %

Gross Revenue (` crore)

PBIT (` crore) Order Booking (` crore) Closing Order Book (₹ crore)*

61.12

21.10 59.90

54.36

20.83 50.19

245.16

161.09

* including long duration orders

12.4

1.3 19.3

52.2

91.55

29.87 113.78

245.16

82.63

29.07 88.27

161.09

10.8

2.7 28.9

52.2

•

In Q2 FY 23 order booking grew 19.3% while closing order book was up 52.2% over the corresponding period

last year. There have been some challenges with supply chain disruptions in H1 FY 23 which are expected

to quickly normalize in Q3 FY 23.

• The outstanding order book as on September 30, 2022 stood at ₹ 245.16 crore including long duration

orders of ₹ 105.38 crore

Outlook

• The Government of India’s Make-In-India initiative has led to new opportunities for diverse engineered

products and Power Transmission business is actively participating in many of these indigenous

development projects.

•

In the domestic market sectors like Cement, Energy, Distillery and Steel are showing encouraging signs due

to various Government policies and overall economic growth. In the export market, global challenges of

high inflation persist, however the business is focusing on increasing its market share to drive growth.

•

In the Defence segment, the business expects strong orders in areas such as propulsion shafting. We believe

that in the long term this strength combined with machining infrastructure is likely to show strong growth

in coming years.

• Further LM2500 package indigenisation license agreement with GEAE is expected to grow further in the

coming years.

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

Q2 FY 23

Q2 FY 22

Change %

H1 FY 23

H1 FY 22

Change %

Revenue (₹ crore) PBIT (₹ crore) Closing Order Book (₹ crore)*

68.25 4.47

47.68 4.17

1579.39

1538.05

43.1 7.0

2.7

133.51 7.02

91.42 10.04

1579.39

1538.05

46.0 -30.2

2.7

* including long duration orders for Operations & Maintenance (O&M)

• 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.

• Water Business has achieved Commercial Operations Date (COD) for entire Mathura Hybrid Annuity Mode

(HAM) project w.e.f. October 21, 2022.

• The orders received in H1 FY 23 stood at ₹ 178.74 crore excluding O&M orders.

• The Company is expecting robust order booking in the coming quarters and is well placed in certain bids being

evaluated both domestically and internationally.

• Business has visibility of bids of substantial value which are expected to be floated during the year.

• The outstanding order book as on September 30, 2022 stood at ₹ 1579.39 crore, which includes ₹ 939.52 crore

towards O&M contracts for a longer period of time.

Outlook

• Water business is trying to expand activities in overseas market after achieving success in Maldives and

Bangladesh.

• Domestic market opportunities are increasing in Recycle & Reuse of wastewater and water business is equipped

to target this market.

• Municipal business opportunities are looking attractive in many key states such as Karnataka, UP, Punjab,

Telangana, and Maharashtra.

• 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.

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 and engineering. The Company is one of the largest integrated sugar manufacturers in India and amongst the leading players in its engineering businesses comprising Power Transmission business and 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), Sabitgarh (SBT) and Milak Narayanpur (MNP) with 660 KLPD current capacity. High-quality Ethanol is manufactured at SBT distillery. The distillery at MNP is a multi-feed distillery while MZN houses two distilleries with the latest being a grain-based distillery. MZN, existing facility of 200 KLPD, also boasts of flexible product manufacturing capability - Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS) from molasses and grain. The Company also manufactures Indian Made Indian Liquor (IMIL) at this distillery.

The Company produces premium quality multi-grade crystal sugar, raw (as per the market/export requirements), refined and pharmaceutical 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 remains the market leader 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, SuperGuard, 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.

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.

TRIVENI ENGINEERING & INDUSTRIES LIMITED Regd. Office : A-44, Hosiery Complex, Phase-II Extension, Naida, Uttar Pradesh- 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201 301 CIN : L15421UP1 932PL C022174

Statement of Standalone Audited Financial Results for the Quarter and Half Year ended September 30, 2022

•

Particulars

30/S'ep/2022 (Audited) (refer note 6)

3 Months ended 30/Jun/2022 (Unaudited)

6 Months ended

30/Sep/2021 (Unaudited)

30/Sep/2022 (Audited)

30/Sep/2021 (Unaudited)

Year ended 31/Mar/2022 (Audited)

( in lakhs, except per share data)

147140 2018 149158

15218

686

92654 12573

8389

1555

2341

13056 146472

2686

158594 161280

7877 535 8412 152868 - - - 152868

253

(173)

(43)

59 152927

2418

63. 24

63.24

136043 825 136868

68904

1289

22422

13581

7767

2013

2179

10749 128904

7964

- 7964

1822 185 2007 5957 - - - 5957

(196)

(50)

(146) 5811

2418

2.46

115229 1425 116654

7168

318

71442

8655

6553

1097

2028

10534 107795

8859

- 8859

2187 (20) 2167 6692 - - - 6692

(15)

(4)

27 6719

2418

2.77

283183 2843 286026

84122

1975

115076

26154

16156

3568

4520

23805 275376

10650

158594 169244

9699 720 10419 158825 - - - 158825

253

(369)

(93)

(87) 158738

2418

65.7 0

65.70

226012

1850 227862

63988

910

85999

16, 125

13305

2553

4003

20496 207379

20483

- 20483

5141 11 5152 15331 - - - 15331

(15)

(4)

12 15343

2418

6.34

467744 3943 471687

311469

2625

(28177)

40310

30123

4948

8074

49320 418692

52995

(999) 51996

14798 (1018) 13780 38216 - - - 38216

106

123 38339 2418

175004

15.81

Revenue from operations

1 2 Other income Total income Expens es

5 6 /

9 10

(a) Cost of materi als consumed

(b) Purchases of stock-in-trade (c) Ch anges in inventories of finished goods, stock-in-tr ade

and work-in-progress (d) Excise duty on sale of goods

(e)

(f)

Employee benefits expense

Finance costs

(g) Depreciation and amortisation expense

(h) Other expens es Total expenses Profit/(loss) from continuing operations before exceptional items and tax

Exceptional items (net) - income/(expens e) Profit/(loss) from continuing operations before tax Tax expense

(a) Current tax (b) Deferred tax Total tax expens e Profit/( loss) from continuing operations after tax

Profit/ (loss) from discontinued operations Tax expense of discontinued operations Profit/(loss) from discontinued operations (after tax) Profit/( loss) for the peri od

11 12 13 Other comprehens ive income

A (i) Items that will not be reclassifi ed to profit or loss

A (ii) Income tax relating to items that will not be reclassified

to profit or loss

B(@)

Items that will be reclassifi ed to profit or loss

D (@i ) Income tax relating to item, that will be reclassified to

profit or loss

Other comprehensive income for the peri od, net of tax Total comprehensive income for the period Paid up Equity Share Capital (face value 1/-)

16 Other Equity

Earnings/ (loss) per share off 1/- each (not ann ualised)

(a) Basic (in )

(b) Diluted (in z)

See accompanying notes to the standalone financial results

ring

0 ·S ?

k '

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Standalone Audited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Half Year ended September 30, 2022

30/Sep/2022 (Audited) (refer note 6)

3 Months ended 30/Jun/2022 (U naudited)

6 Months ended

30/Sep/2021 (Unaudited)

30/Sep/2022 (Audited)

30/Sep/2021 (Unaudited)

(in lakhs)

Year ended 31/Mar/2022 (Audited)

Particulars

Segmen t Reven u e (a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission Water

Total Segment revenue Less : Inter segment revenue Total Revenue from operations

Segment Results

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission Water

Total Segment results Less:

(i) Finance costs (ii) Exceptional items (net) - (income)/expense (iii) Other unallocable expenditure net of unallocable income

Total Profit/(loss) before tax

Segment Assets

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission Water

Total Segment assets Add : Unallocable assets Total Assets

Segment Liabilities

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission Water

Total Segment liabiliti es Add: Unallocable liabilities Total Liabilities

100770 41289 142059

6112 6803 12915

3660

158634 11494 147140

(2504) 4718 2214

2110 472 2582

(175)

4621

1555 (158594)

380 161280

154450 76943 231393

16871 34173 51044

1397

283834 190291 474125

12914 6833 19747

5667 16424 22091

623

42461 100340 142801

105169 37923 143092

3043 6421 9464

4028

156584 20541 136043

5329 4984 10313

877 197 1074

(278)

11109

2013 - 1132 7964

246156 80564 326720

13656 32924 46560

1413

374713 15724 390437

11895 5617 17512

3749 16377 20126

661

38299 168906 207205

79799 28444 108243

5436 4495 9931

3878

122052 6823 115229

2828 4834 7662

2083 248 2331

141

205939 79212 285151

9155 13224 22379

7688

315218 32035 283183

2825 9702 12527

2987 669 3656

(453)

10134

15730

1097 - 178 8859

153454 46408 199862

12036 29239 41275

1298

242435 22422 264857

12210 3373 15583

3852 16309 20161

689

36433 70973 107406

3568 (158594) 1512 169244

154450 76943 231393

16871 34173 51044

1397

283834 190291 474125

12914 6833 19747

5667 16424 22091

623

42461 100340 142801

169518 51200 220718

8263 8506 16769

5651

243138 17126 226012

12325 8288 20613

2907 505 3412

122

24147

2553 - 1111 20483

153454 46408 199862

12036 29239 41275

1298

242435 22422 264857

12210 3373 15583

3852 16309 20161

689

36433 70973 107406

347385 107161 454546

18463 25361 43824

13582

511952 44208 467744

38651 14936 53587

6416 1731 8147

(453)

61281

4948 999 3338 51996

269508 68369 337877

14557 34105 408662

1424

387963 15513 403476

34638 5555 40193

3973 17123 21096

638

61927 164127 226054

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Standalone Statement of Assets and Liabilities

Particulars

ASSETS 1 Non-current assets

Intangible assets under development

(a) Property, plant and equipment (b) Capital work-in-progress (c) Investment property (d) Other intangible assets (e) (f) Financial assets (i) Investments (ii) Trade receivables (iii) Loans (iv) Other financial assets (g) Other non-current assets

2 Current assets (a) Inventories (b) Financial assets

(i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than cash and cash equivalents (iv) Loans (v) Other financial assets

TOT AL - ASSETS

EQUITY AND LIABILITIES EQUITY

(a) Equity share capital (b) Other equity

LIABILITIES 1 Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities

(b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities

2 Current liabilities

(a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables

- total outstanding dues of micro enterprises and

small enterprises

- total outstanding dues of creditors other than

micro enterprises and small enterprises

(iv) Other financial liabilities

(b) Other current liabilities (c) Provisions (d) Current tax liabilities (net)

TOTAL - EQUITY AND LIABILITIES

( in lakhs)

Asat 30/Sep/2022 (Audited)

As at 31/Mar/2022 (Audited)

133721 9930 442 143 4

5239 250 2403 1584 4611 158327

89479

21196 66277 110449 331 593 27473 315798 474125

2418 328906 331324

21857 1417 3307 9805 2121 38507

57108 607

1205

13225 9960 10872 4894 6423 104294 474125

106308 25653 442 161 3

5918 336 2002 1314 2985 145122

203687

26059 1822 408 46 821 25511 258354 403476

2418 175004 177422

26329 977 3351 9115 370 40142

123225 554

798

34278 8181 12740 4828 1308 185912 403476

TRIVENI ENGINEERING & INDUSTR IES LIMITED

Standalone Statem ent of Cash Flows

-·

Particulars

Cash flows from operating activities

Pr ofit before tax

Adjustm ents for :

Depreciation and amortisation expense Bad debts written off/impairment loss allowance (net of reversals) on assets

Provision for non moving/obsolete inventory (net of reversals) Loss on sale/w rite off of inventory

Net fair value (gains)/ losses on investments Mark-to-market (gains)/losses on derivatives

Credit balances written back (net of reversals)

Financial guarantee commission income Exceptional items - net impairment loss allowance on receivable against divestment in equity shares

Exceptional items - profit upon divestment in equity shares

Unrealised (gains}/losses changes in foreign exchange rates

Loss on sale/write off/impairment of property, plant and equipment Net (profit}/loss on sale/redemption of investments

Interest income Dividend income

Finance costs

Working ca pital adjustments:

Change in inventories Change in trade receivables Change in other financial assets

Change in other assets

Change in trade payables

Change in other financial liabilities

Change in other liabilities Change in provisions

Cash generat ed from/( used in) operations

Income tax paid (net)

N et cash inflow/(outflow ) from operating activities

Cash flows from investing activities

Purchase of property, plant and equipmentand intangibl e assets Proceeds from sale of property, plant and equipment

Investments in subsidiaries

Proceeds from disposal of investments in associate

Proceeds from disposal/ redemption of investments (other than subsidiaries and associates) Loan to subsidiaries

Repayments of loan by subsidiaries and erstwhile associate

Dec rease/(increase) in depo sits with ba nks

Interest received Dividend received Net cash inflow/{outflow) from investing activities

Cash flows from financing activities

Proceeds from long term borrowings Repayments of long term borrowings Increase/(decrease) in short term borrowings

Interest paid (other than on lease liabilities)

Payment of lease liabilities (interest portion)

Payment of lease liabilities (principal portion}

Dividend paid

N et cash inflow/(outfl ow ) from financi ng activities

N et increase/(dec rease} in cash and cash equivalents

Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the period

6 Months ended

30/Sep/2022 (Audited)

30/Sep/2021 (Unaudited)

( in lakhs)

Year ended 31/Mar/2022 (Audited)

169244

20483

51996

4520 63

18 33 (28) (17) (9)

- (158594) (51) 108 - (604) (1100) 3569

114190 4887 291 (2696) (20565) 1133 205 274 114871 (4424) 110447

(16224) 15

- 159300 3 (700) - (110033) 287 1100 33748

3551 (5898) (68564) (3633) (75) (286) (4835) (79740)

64455 1822 66277

4003 72

1 (66) (32) (4)

- - -

- (73) (138) (851) 2553

87124 4826 (412) 2171 (52098) 610 (1580) 208 66800 (4730 62070

(9613) 22 (1)

87 (50) 1831 (2426) 45 3 (10102)

4029 (6489) (40351) (2510) (60) (213) (4242) (49836)

2132 992 3124

8074 1330 160 38 7 (3) (109) (13) 999 - (21) 162 (73) (401) (1557) 4948

(30510) (4893) (308) (711) (27239) 1301 (3410) (651) (884) (15083 (15967)

(29345) 233 (900) -

89 (100) 1946 (201) 176 1557 (26545)

13202 (11828) 54635 (4828) (130) (456) (7253) 43342

830 992 1822

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Notes to the Standalone Audited Financial Results for the Quarter and Half Year ended September 30, 2022

1. 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.

3. The Company has, during the quarter under review, divested the entire equity stake held in its associate company viz., Triveni Turbine Limited (TTL), resulting in a profit of 158594 lakhs on such disposal, which is reflected under exceptional items. Consequent to the divestment, TTL has ceased to remain an associate of the Company w.e.f. September 21, 2022.

4. The Board of Directors of the Company, 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 350 per equity share for an aggregate amount not exceeding z 80000 lakhs, 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.

5. As recommended by the Board of Directors, the shareholders at its annual general meeting held on August 24, 2022 had declared a final dividend of 200% (i.e. 2 per equity share of the face value of z1 each) to the equity shareholders aggregating to 4835 lakhs for the financial year ended March 31, 2022, and the same has been paid to all the eligible shareholders within the prescribed time.

6. The figures for the quarter ended September 30, 2022 are the balancing figures between the audited figures in respect of the half year ended September 30, 2022 and the published unaudited figures for the quarter ended June 30, 2022.

7. Previous period figures have been regrouped/rearranged, wherever necessary, to correspond to

current period's presentation.

8. The above audited 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 November 5, 2022.

For Triveni Engineering & Industries Limited

Place: Noida (U.P.) Date : November 5, 2022

Dhruv M. Sawhney Chairman & Managing Director

n z(b -

o C: ul ""c, 60 1. '..I.

TRIVENI ENGINEERING & INDUSTRIES LIMITED Regd. Office : A-44, Hosiery Complex, Phase-II Extension, Naida, Uttar Pradesh - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201301 CIN : L15421UP1932PLC022174

Statement of Consolidated Audited Financial Results for the Quarter and Half Year ended September 30, 2022

Particulars

30/Sep/2022 (A udited) (refer note 7)

3 M onths ended 30/Jun/2022 (Unaudited)

( in lakhs, except per share data)

6 M onths ended

30/Sep/2021 (Unaudited)

30/Sep/2022 (Audited)

30/Sep/2021 (Unaudited)

Year end ed 31/Mar/2022 (Audited)

1 Revenue from operations 2 Other income Total income

3 Expenses

(a) Cost of materials consumed (b ) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and w ork-in-progress (d) Excise duty on sale of goods Employee benefits expense (e) Finance costs

(00 (g) Depreciation and amortisation expense (h) Other expenses

Total expenses

4 Profit/(loss) from continuing operations before share of profif/(loss) of associ ates, exceptional

items and tax

5 Share of profit/ (loss) of associates 6 Profit/(loss) from continuing operations before exceptional items and tax

e p t

e m s

i o n al

7 E x c (n et) - i n c o m e 8 Profit/(loss) from continuing operations before tax 9 Tax expense

e x o e n s

(a) Current tax

(b ) 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 ooeralions (after tax) 14 Profit/(loss) for the oeriod

Profit/ (loss) for the period allributable lo:

(i) Owners of the Company (ii) Non-controlling interests

15 Other comprehensive income

A (i) Items that will not be reclassified lo profit or loss A (ii) Incorne tax relating to items that will not be reclassified to profit or loss B (i) B (ii)

Items that will be reclassified to profit or loss Income tax relating to items that will be reclassified to profit or loss

Other comprehensive income for the period, net of tax Other comprehensive income for the period, net of tax attributable to:

(@) Owners of the Company (ii) Non-controlling interests

16 To tal co mprehensive inco me fo r the perio d

Total comprehensive income for the period attributable to:

() Owners of the Company (ii) Non-controlling interests

17 Paid up Equity Share Capital (face value 1/-) 18 Other Equity 19 Earnings/(loss) per sh are of 1/ -each (not annualised)

(a) (b)

Basic (in z) Diluted (in )

See accompanying notes to the consolidated financial results

147162 1171 148333

15217 686 92654 12573 8418 1716 2341 13076 146681

1652

796 2448 140120 142568

7890 (4098) 3792 138776 - - - 138776

138776 -

253 64 (199) (41) 31

- 138807

138807 - 2418

57.40 57.40

136148 986 137134

68904 1289 22422 13581 7799 2165 2179 10764 129103

8031

837 8868 - 8868

1827 396 2223 6645 - - - 6645

6645 -

- - (232) (58) (174)

(174) - 6471

6471 - 2418

2.75 2.75

115502 864 116366

7168 318 71442 8656 6576 1213 2028 10615 108016

8350

3796 12146 - 12146

2174 725 2899 9247 - - - 9247

9247 -

402 (4) 69 17 458

458 - 9705

9705 - 2418

3.82 3.82

283310 2157 285467

84121 1975 115076 26154 16217 3881 4520 23840 275784

9683

1633 11316 140120 151436

9717 (3702) 6015 145421 - - - 145421

145421 -

253 64 (431) (99) (143)

(143) - 145278

145278 - 2418

60.15 60.15

226648 1227 227875

63988 910 85999 16126 13351 2777 4003 20588 207742

20133

4402 24535

24535

5153 905 6058 18477 - - - 18477

18477 -

402 (4) 48 12 442

442 - 18919

18919 - 2418

7.64 7.64

469404 2219 471623

311469 2625 (28177) 40310 30265 5453 8074 49472 419491

52132

5914 58046 (671) 57375

14900 69 14969 42406 - - - 42406

42406 -

469 13 131 33 554

554 - 42960

42960 - 2418 188867

17.54 17.54

i t / ( e ) Consolidated Audited Segment wise Revenue, Results, Assets and Liabilities for the Quart er and Half Year ended September 30, 2022

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Particulars

3 M onths ended 30/Jun/2022 (Unaudited)

6 M onths ended

30/Sep/2021 (Audited)

30/Sep/2022 (Audited)

30/Sep/2021 (Unaudited)

30/Sep/2022 (Audited) (refer note 7)

(tin lakhs)

Year ended 31/Mar/2022 (Audited)

1 Segment Revenue

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission

Water

Total Segment revenue Less : Inter segment revenue Total Revenue from operations

2 Segment Results

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission Water

Total Segment results Less: (@)

Finance costs

(ii) Exceptional items (net) - (income)/ expense (iii) (iv) Other unallocable expenditure net of unallocable income

Share of (profit)/loss of associates

Total Profit/(loss) before tax

3 Segment Assets

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission

Water

Total Segment assets

Add: Unallocable assets Total Assets

4 Segment Liabilities

(a) Sugar Businesses

Sugar Distillery

(b) Engineering Businesses Power transmission

Water

Total Segment liabiliti es Add : Unallocabl e liabilities Total Liabilities

100770 41289 142059

6112 6825 12937

3660

158656 11494 147162

(2504) 4718 2214

2110 447 2557

(175)

4596

1716 (140120) (796) 1228 142568

154450 76943 231393

16871 49794 66665

1397

299455 183937 483392

12914 6833 19747

5666 18109 23775

623

44145 107521 151666

105169 37923 143092

3043 6526 9569

4028

156689 20541 136148

5329 4984 10313

877 255 1132

(278)

79799 28444 108243

5436 4768 10204

3878

122325 6823 115502

2828 4834 7662

2083 417 2500

141

11167

10303

2165 - (837) 971 8868

246156 80564 326720

13656 48355 62011

1413

390144 28515 418659

11895 5617 17512

3749 18064 21813

661

39986 180917 220903

1213 - (3796) 740 12146

153454 46408 199862

12036 39843 51879

1298

253039 35245 288284

12210 3373 15583

3852 16019 19871

689

36143 81869 118012

205939 79212 285151

9155 13351 22506

7688

315345 32035 283310

2825 9702 12527

2987 702 3689

(453)

15763

3881 (140120) (1633) 2199 151436

154450 76943 231393

16871 49794 66665

1397

299455 183937 483392

12914 6833 19747

5666 18109 23775

623

44145 107521 151666

169518 51200 220718

8263 9142 17405

5651

243774 17126 226648

12325 8288 20613

2907 1004 3911

122

24646

2777 - (4402) 1736 24535

153454 46408 199862

12036 39843 51879

1298

253039 35245 288284

12210 3373 15583

3852 16019 19871

689

36143 81869 118012

347385 107161 454546

18463 27021 45484

13582

513612 44208 469404

38651 14936 53587

6416 3101 9517

(453)

62651

5453 671 (5914) 5066 57375

269508 68369 337877

14557 48193 62750

1424

402051 27697 429748

34638 5555 40193

3973 18843 22816

638

63647 174816 238463

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Consolidated Statement of Assets and Liabilities

Particulars

ASSETS

1 N on -cu rr en t assets

(in lakhs)

As at

30/Sep/2022 (A u d ited )

31/M ar/2022 (A u d ited)

Property, plant and equipment

(a) (b) Capital work-in-progress Investment property (c) (d) Goodwill (e) Other intangible assets (f) (g) (h)

Intangible assets under development Investments accounted for using equity method Financial assets

(i) Investments (ii) Trade receivables (iii) Loans (iv) Other finan ci al assets

Deferred tax assets (net) (i) 6) Other non-current assets

2 Current assets

(a) (b)

Inventories Financial assets

(i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than cash and cash equivalents (iv) Loans (v) Other financial assets

TOTAL-ASSETS

EQUITY AND LIABILITIES EQUITY (a) (b) Other equity

Equity share capital

LIABILITIES 1 Non-current liabilities

(a)

(b) (c) (d)

Financial liabilities (i) Borrowings (ii) Lease liabilities

Provisions Deferred tax liabilities (net) Other non-current liabilities

2 Current liabilities

(a)

Financial liabilities (i) Borrowings Lease liabilities (ii) (iii) Trade payables

- total outstanding dues of micro enterprises and small enterprises - total outstanding dues of creditors other than micro enterprises and small enterprises

(iv) Other financial liabilities

(b) Other current liabilities (c) (d) Current tax liabilities (net)

Provisions

TOTAL- EQUITY AND LIABILITIES

133721 9930 1210 68 143 4

600 16713 3 1652 37 4748 168829

89479

21933 66699 110500 31 894 25027 314563 483392

2418 329308 331726

28432 1417 3307 9805 3648 46609

57941 607

1205

13230 9731 11025 4894 6424 105057 483392

106308 25653 1210 68 161 3 18704

635 16469 2 1646 37 3087 173983

203687

26680 2328 462 46 650 21912 255765 429748

2418 188867 191285

31918 977 3351 13542 509 50297

124058 554

798

34286 8005 14313 4829 1323 188166 429748

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Consolidated Statement of Cash Flows

Particulars

6 Months ended

30/Sep/2022 (Audited)

30/Sep/2021 (Unaudited)

( in lakhs)

Year ended 31/Mar/2022 (Audited)

151436

24536

57375

Cash flows from operating activities

Profit before tax

Adjustments for :

Share of net (profit)/loss of associate accounted for using the equity method Depreciation and amortisation expense Bad debts written off/impairment loss allowance (net of reversals) on assets Provision for non moving/ obsolete inventory (net of reversals) Loss on sale/write off of inventory Net fair value (gains)/losses on investments Mark-to-market (gains)/losses on derivatives Credit balances written back (net of reversals) Exceptional items - net impairment loss allowance on receivable against divestment in equity shares Exceptional items - profit upon divestment in equity shares Unrealised (gains)/losses from changes in foreign exchange rates Loss on sale/ write off/impairment of property, plant and equipment Net (profit)/loss on sale/redemption of investments Interest income Dividend income Finance costs

Working capital adjustments :

Change in inventories Change in trade receivables Change in other financial assets Change in other assets Change in trade payables Change in other financial liabilities Change in other liabilities Change in provisions

Cash generated from/(used in) operations

Income tax paid (net) Net cash inflow/(outflow) from operating activities

Cash flows from investing activities Purchase of property, plant and equipment and intangible assets Proceeds from sale of property, plant and equipment Proceeds from disposal/ redemption of investments (other than subsidiaries and associates) Proceeds from disposal of investments in associate Repayments of loan by erstwhile associate Decrease/ (increasc) in deposits with bans In terest received Dividend received from associate Other dividends received Net cash inflow/(outflow) from investing activities

Cash flows from financing activities Proceeds from long term borrowings Repayments of long term borrowings Increase/ (decrease) in short term borrowings Interest paid (other than on lease liabilities) Payment of lease liabilities (interest portion) Payment of lease liabilities (principal portion) Dividend paid Net cash inflow/(outflow) from financing activities

Net increase/ (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period -

(1633) 4520 63

18 33 (28) (17) - (140120) (51) 108 - (1023) (5) 3881

114190 4442 311 (3854) (20567) 1133 171 275 113283 (4486 108797

(16224) 15 3 159300 - (110031) 476 1095 5 34639

5002 (6361) (68564) (3946) (75) (286) (4835) (79065)

64371 2328 66699

(4402) 4003 72

1 (66) (32) (4)

- -

- (401) (37) (3) 2777

87124 1710 (426) 2636 (52114) 610 (473) 208 65722 (4755 60967

(9613) 22 87

- 1831 (2766) 24

3 (10414)

4029 (5308) (39940) (2702) (60) (213) (4242 (48436)

2117 1128 3245

(5914) 8074 1330 160 38 7 (3) (109) 671 - (21) 162 (73) (247) (3) 5453

(30510) (10889) (627) (131) (27248) 1301 (300) (651) (2155) (15184 (17339)

(29345) 233 89

- 1846 (199) 144 1554 3 (25675)

14793 (12032) 54633 (5341) (130) (456) (7253° 44214

1200 1128 2328

z.$

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TRIVENI ENGINEERING & INDUSTRIES LIMITED

Notes to the Consolidated Audited Financial Results for the Quarter and Half Year ended September 30, 2022

1. 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.

3. The Company has, during the quarter under review, divested the entire equity stake held in its associate company viz., Triveni Turbine Limited (TT L), resulting in a profit on such disposal of i!' 140120 lakhs, which is reflected under exceptional items. Tax expense for the quarter accordingly considers the reversal of deferred tax charge of '{ 4550 lakhs on the share of profits of the associate recognised till the date of divestment. Consequent to the divestment, TIL has ceased to remain an associate of the Company w.e.f. September 21, 2022.

4. The Board of Directors of the Company, subject to approval of shareholders, has approved a proposal to buy back from equity shareholders of the Comp any upto 2,28,57,142 equity shares at a price of 3 50 per equity share for an aggregate amount not exceeding ? 80000 lakhs, 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.

5. As recommended by the Board of Directors,

its annual general meeting held on August 24, 2022 had declared a final dividend of 200% (i.e. '{ 2 per equity share of the face value of 1 each) to the equity shareholders aggregating to 4 835 lakh s for the financial year ended March 31, 2022, and the same has been paid to all the eligible shareholders within the prescribed time.

the shareholders at

6. The standalone audited financial results of the Company are available on the Company's website (ww w.triven.igroup.com), website of BSE (www.bseindia.com) and NSE (www.nseindia.com). Summ arised standalone financial performance of the Company is as under :

Particulars

30-Sep-2022 (Audited) (refer note 7)

3 Months ended

6 Months ended

(in lakhs) Year ended

30-June-2022 (Unaudited)

30-Sep-2021 (Unaudited)

30-Sep-2022 (Audited)

30-Sep-2021 (Unaudited)

31-Mar-2022 (Audited)

Income from operati ons Profit/ (loss) before tax (after exceptional items) Profit/ (loss) after exceptional items) Total comprehensive income

(after

tax

147140

136043

115229

283183

226012

467744

161280

7964

8859

169244

20483

51996

152868

5957

6692

158825

15331

38216

152927

5811

6719

158738

15343

38339

7. The figures for the quarter ended September 30, 2022 are the balancing figures between the audited figures in respect of the half year ended September 30, 2022 and the published unaudited figures for the quarter ended June 30, 2022.

8. Previous period figures have been regrouped/rearranged, wherever necessary, to correspond to

current period's presentation.

9. The above audited 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 November 5, 2022.

For Triveni Engineering & Industries Limited

Place: Noida (U.P.) Date : November 5, 2022

Chairman & Managing Director

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Triveni Engineering & Industries Limited has informed the Exchange about Investor Presentation

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