TRIVENINSE24 January 2023

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

Triveni Engineering & Industries Limited

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PIVEnI ENGINEERING & INDUSTRIES LTD.

• +91 120 4308000

+91 120 4311010/11 www.trivenigroup.com

IL:

EF TE

R BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai- 400 00 I Thru: BSE Listing Centre

24%J

ate:

anuary,

2023 National Stock Exchange of India Limited Exchange Plaza, C-I, Block G Bandra Kurla Complex, Bandra (E) Mumbai- 400 051 Thru: NEAPS

Scrip Code: 532356 Sub: Investors' brief for Q3 & 9M FY2023 ended December 31, 2022

Symbol: TRIVENI

Dear Sirs,

We send herewith a copy of investors' brief on the performance of the Company for the Q3 & 9M FY2023 (consolidated) ended December 31, 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.

foI

GE'ETA BHALLA Group Vice President & Company Secretary M.No.A9475

Encl: As above

Corporate Office: B"' Floor, Express Trade Towers, PIot 15 & 16, Sector 16-A, Noida, Uttar Pradesh - 201301, Indi a. Reg istered Office: A-44, Hosiery Complex, Phase-II Extension, Noida-201 305, Uttar Pradesh. CIN No.: L154210P1932PLC022174

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 23 Consolidated Results ended Dec 31, 2022

• Revenue from Operations (Net of excise duty) at ` 4034.28 crore, an increase of 25.3% • Profit before exceptional items and tax at ` 311.87 crore

• Profit after Tax at ` 1601.49 crore

• The Board of Directors approved capex of ` 90 crore for Sugar business and ` 100 crore for Power

Transmission business

• Sugar & Alcohol (Distillery) Businesses

▪ Triveni estimates that India’s sugar production in Sugar Season (SS) 2022-23 is at 35 million tonnes with a diversion of ~ 4.5 million tonnes for ethanol production, 32% higher diversion than SS 2021- 22

▪ Sugarcane crushed in Q3 FY 23 is at 3.12 million tonnes, an increase of 25.3% over the corresponding

period last year owing to the modernisation, debottlenecking at three sugar facilities

▪ Net recovery of 9.38% after diversion of sugar in B-heavy molasses with 92% crush with B-heavy diversion during the quarter. Lower recoveries mainly due to heavy late rains - expected to narrow the gap in the balance part of the season

▪ Achieved sugar exports of 135034 tonnes (including sale of quota for 72988 tonnes) during Q3 FY 23

▪

out of total export quota of 204868 tonnes Increased distillery turnover (net) by 61.0% during 9M FY 23, driven by additional capacities commissioned, leading to increase in sales volumes by 39.8% coupled with 7.9% improvement in realisations

• Engineering Businesses

▪ Robust increase in turnover in both Power Transmission and Water business, growing 28.8% and

40.7% year-on-year in 9M FY 23

▪ Outstanding order book of ` 1,766 crore for combined Engineering Businesses

• Outcome of Board Meeting

▪ The Board of Directors approved capex of ` 90 crore for Sugar business and ` 100 crore for Power

Transmission business

▪ The proposed capex of ` 90 crore is towards process change at Milak Narayanpur and modernisation, debottlenecking & efficiency improvements at various sugar units leading to cost optimization

▪ The proposed capex of ` 100 crore is towards a new bay proposed to be set up along with a large grinder, hobber and other supporting machines & equipment for normal business and defence products etc. to enhance the capacity from ` 250 crore to ` 400 crore (approx.).

Noida, January 24, 2023: 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 third quarter

and nine months ended Dec 31, 2022 (Q3/9M 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: Q3/9M FY 23 (Consolidated Unaudited 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)

Q3 FY 23

Q3 FY 22

Change %

9M FY 23

9M FY 22

In ` crore Change %

1,658.7

1235.4

34.3

4,491.8

3501.9

28.3

1,462.7

1115.7

230.6 16%

209.8 19%

7.8

31.1

9.9

4,034.3

3220.9

411.5 10%

16.33

478.9 15%

51.8

198.7

185.0

7.4

311.9

430.3

1,401.20

198.7

147.3

0.2

147.5 6.09

185.0

130.1

0.8

130.9 5.39

7.4

13.2

12.7 13.0

1,713.1

1,601.5

(1.2)

1,600.2 66.24

430.3

314.9

5.2

320.1 13.03

25.3

-14.1

-68.5

-27.5

298.1

408.6

399.9 408.4

• All the businesses recorded growth in turnover during the quarter and 9M FY 23.

• Profit before tax (PBT) before exceptional items during Q3 FY 23 increased by 7.4% and declined by 27.5% in 9M FY

23 as compared to corresponding periods of previous year, to ₹ 198.7 crore and ₹ 311.9 crore respectively.

• The profitability in sugar business is lower as the cost of sugar sold pertaining to the previous season includes the

impact of sugarcane price increase for the Sugar Season (SS) 2021-22 (and higher cost of sugar produced in the

current season due to transitory lower recoveries). Further, 9M FY 22 included export subsidy of ₹ 57 crore relating

to the previous period.

• Higher profitability of the aggregate Engineering businesses is owing to strong revenue increase of 45.8% and 35.8%

during the current quarter and nine-month period under review over the corresponding periods last year.

• The total debt on a standalone basis as on December 31, 2022 is ₹ 389.09 crore as compared to ₹ 525 crore as on

December 31, 2021. Standalone debt at the end of the quarter under review, comprises term loans of ₹ 334.39

crore, almost all such loans are with interest subvention or at subsidized interest rate. On a consolidated basis, the

total debt is at ₹ 480 crore as compared to ₹ 592 crore as on December 31, 2021.

• Overall average cost of funds is at 4.75% during Q3 FY 23 as against 4.15% in the corresponding period of previous

year.

• The Company holds surplus funds through short term fixed deposits of ₹ 1278 crore.

• Our proposed buyback of ₹ 800 crore is pending statutory approval.

Commenting on the Company’s financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing Director,

Triveni Engineering & Industries Ltd, said:

“Overall performance of the Company during the nine months ended December 31, 2022 has been satisfactory. In

the current ongoing season, there is a declining trend of recoveries across the state of UP, for the ratoon crop, due

to a variety of factors – mainly shortfall in rains in the grand growth period and thereafter, due to late rains in the

month of October. However, in view of conducive weather, it is expected that there would be a catch-up in the

balance part of the season for the plant crop and the gap will narrow down. We had addressed the issues relating

to de-bottlenecking and modernisation in three of our sugar units and consequently, the crush during the quarter

has increased by 25% over last year. However, the profitability of sugar operations has been impacted as cost of

sugar sold in the current period includes the impact of the sugarcane price increase in the previous season, and it

has not been fully offset by the increased sugar realization. We believe that it is the most appropriate time for the

Government to reconsider the increase in the Minimum Support Price (MSP) of sugar to offset the impact of

increased cane price. We have been able to get a remunerative export price having a substantial premium over the

domestic sugar price, as a result of the Government making a timely announcement for the first tranche of exports

of 6 million tonnes.

In view of our increased distillation capacities, our production and sales volumes have increased substantially.

However, the profit has not increased commensurately due to increased transfer price of B-heavy molasses, initial

stabilization period of new distilleries and relatively lower margins on grain operations. There is an urgent need for

the Government to rectify the pricing of ethanol produced from sugarcane juice and grain to improve the viability

and enhance investments. It will help in faster setting up of additional capacity and achieve the targets of ethanol

blending.

The performance of engineering businesses is satisfactory with both turnover and profitability registering strong

growth. In the Water business, we continue to selectively focus on projects with healthy returns, both in domestic

and international markets. Water business has participated in many tenders and expects to received orders of

substantial value. Orders in hand for Power Transmission are higher by 23% over corresponding previous quarter.

In this segment, the Company’s high speed licence agreement with Lufkin Gears LLC expired in January 2023 and the

business will now pursue the high-speed high-power segment independently with a focus on enhancing global

market share in its identified target markets. We believe with an increased global presence, solid business model

and strategy along with foray in defence will drive the Power Transmission business in the coming years.

Our proposed buyback of ₹ 800 crore is presently under approvals. The sale of stake in Triveni Turbine Limited has

infused substantial funds in the Company, which, even after the proposed buyback, will meet the expansion

requirements of the businesses and reduce finance costs on working capital requirements.”

Q3/9M 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

Sugar Season 2022-23

Sugar Season 2021-22

Change (%)

Oct - Dec 2022

3.12 9.38 292888

Oct – Dec 2021

2.49 10.08 251369

25.3

16.5

Sugarcane Crush (Million Tonnes) Net Recovery (%) Sugar Production (Tonnes)

Sugar Dispatches (Tonnes)

- Domestic - Exports - Total

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

Q3 FY 23 Q3 FY 22

222247 - 222247 36452

193791 62046 255837 36111 36111 40409

Change %

-12.8

15.1 -0.9

9M FY 23 9M FY 22

Change %

693226 62046 755272 35579

610140 38066 648206 35028

40409

25785

13.6 63.0 16.5 1.6

56.7

21.5 -46.2

1131.64 113.69

931.86 140.82

21.4 -19.3

3191.03 141.94

2627.04 264.07

•

In addition to the sale of sugar for exports, export quota for 72988 tonnes has been sold for a revenue of ₹

29.42 crore.

• The profitability in sugar business is lower as the cost of sugar sold pertaining to the previous season includes

the impact of sugarcane price increase for the Season 2021-22 and higher cost of sugar produced in the current

season due to transitory lower recoveries. Further, 9M FY 22 included export subsidy of ₹ 57 crore relating to

the previous period.

• The sugar inventory as on December 31, 2022 was 23.93 lakh quintals, which is valued at around ₹ 34.4/kg.

• Co-generation operations (including incidental co-generation) achieved external sales of ₹ 36.5 crore during

9M FY 23 as against ₹ 33.1 crore in 9M FY 22, an increase of 10%.

Industry Scenario – Domestic

• As on January 15, 2023, the country’s sugar production stood at 15.68 million tonnes, which is an increase of

~4% from 15.08 million tonnes produced last year till the same period.

• Total 515 sugar mills were operating as on January 15, 2023, whereas last year 507 sugar mills were operating

at the same time.

• Uttar Pradesh has produced 4.07 million tonnes of sugar as compared to 4.02 million tonnes of last year on the

corresponding date, an increase of ~1%. In Maharashtra, 6.03 million tonnes of sugar has been produced till

January 15, 2023 as compared to 5.88 million tonnes on the corresponding date, an increase of ~3%. Karnataka

has produced 3.36 million tonnes of sugar which is ~3% increase from last year production of 3.27 million

tonnes. These sugar production figures are after diversion of sugar into ethanol.

• As per recent reports, ~5.5 million tonnes of contracts for export of sugar have already been entered into and

out of that, over 1.8 million tonnes of sugar have been physically exported out of the country up to December

31, 2022, which is almost similar to the sugar exported last year by the end of December 2021.

• Sugar balance sheet:

Source: Triveni estimates

o Triveni estimates that Sugar production in SS 2022-23 before considering diversion towards ethanol is

estimated at around 39.5 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.

o We estimate indicate net sugar production in SS 2022-23 at around 35 million tonnes. This is lower than

street estimates which are in the vicinity of 36 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 35 million tonnes and estimated domestic sales of around 27.5 million tonnes,

around 7 million tonnes of sugar needs to be exported to maintain the closing stock at similar levels.

o The Government has already announced an export quota of 6 million tonnes (first tranche). Based on

progress in the current season, the Government should announce a second tranche of export quota for the

SS 2022-23 at the earliest with supportive international prices and demand-supply gaps expected the next

couple of months.

Industry Scenario – International

• Based on international reports, the forecast for global sugar balance for SS 2022-23 is surplus of 3 million

tonnes, owing to a bigger crop in CS Brazil and Thailand.

• Central South Brazil is expected to produce ~36 million tonnes of sugar in the next season as against ~33-34

million tonnes in the previous season.

• Thailand is expected to produce 11.6 million tonnes of sugar in 2022-23, up from 10.34 million tonnes in

previous season.

• Global sugar prices have also softened recently. After touching 21.18 cents/lb in December 2022, the New York

11 Raw Sugar futures contract for March was trading at 19.82c/lb on January 18, 2023. The London White Sugar

#5 March month contract was trading at $551.60/tonne on January 18, 2023, down from recent highs of

$579.60/tonne in December 2022.

NY#11 & London#5 Price Trend From Apr'21 - 15th Jan'23

650

600

550

500

450

400

350

Note: London #5 on left hand axis in $/tonne; NY #11 on right hand axis in US cents/lb

London 5

NY 11

23.00

21.00

19.00

17.00

15.00

13.00

Alcohol (Distillery) business

The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN), Sabitgarh (SBT) and Milak

Narayanpur (MNP) in Uttar Pradesh. High-quality Ethanol is manufactured at SBT distillery from molasses. The

distillery at MNP is a multi-feed distillery having the ability to use grain, molasses and sugarcane juice/syrup to

produce high-quality Ethanol. MZN houses two distilleries with the latest being a grain-based distillery. The existing

distillery at MZN of 200 KLPD boasts of flexible product manufacturing capability - Ethanol, Extra Neutral Alcohol

(ENA), Rectified Spirit (RS) and Denatured Spirit (SDS) from molasses, while the recently commissioned 60 KLPD

grain-based distillery at MZN can produce both Ethanol and ENA. The Company also manufactures Indian Made

Indian Liquor (IMIL) at this complex.

Performance

Operational details Production (KL) Sales (KL) Avg. Realisation (`/ ltr)

IMIL Sales (Lakh Cases)

Q3 FY 23 Q3 FY 22 Change %

9M FY 23

9M FY 22 Change %

46275 42615 56.6

9.31

24713 26638 55.2

5.38

87.2 60.0 2.5

73.1

Financial details Gross Revenue (` crore) Revenue Net of Excise Duty (` crore) PBIT (` crore)

481.57 285.58 50.14

275.89 156.14 35.91

74.6 82.9 39.6

131618 127226 57.51

21.84

1273.69 816.16 147.16

78868 91019 53.3

12.16

787.89 506.88 118.79

66.9 39.8 7.9

79.6

61.7 61.0 23.9

• Additional capacities commissioned in 9M 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 of distilleries and relatively lower margin with grain as feedstock.

• Sale of ethanol produced from grain accounted for 33% and 20% of total sales volumes in the current quarter

and nine-month period.

• Ethanol produced from B-heavy constitutes 57% and 72% of the sales volume in the current quarter and nine-

month period as against 88% and 80% in the corresponding periods of the previous year

Domestic Industry Scenario

• Out of the 470.5 crore liters finalized by the OMCs for the Ethanol Supply Year 2022-23 (Dec-Nov) against a

total requirement of 600 crore liters, contracts for 459.5 crore liters have been executed till January 01, 2023.

• Against the above, 38.3 crore liters have been lifted by the OMCs till January 01, 2023. The average blending

percentage is 10.43% till January 01, 2023.

• The total contracted quantity from Sugarcane Juice and B-Heavy Molasses is 133.35 crore litres and 204.16

crore litres respectively till January 01, 2023. 5.89 crore litres is the contracted quantity from C-heavy molasses,

18.77 crore litres from damaged food grains and 97.38 crore litres from surplus rice.

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 Navy.

Performance

Q3 FY 23

Q3 FY 22

Change %

9M FY 23

9M FY 22

Change %

Revenue (` crore)

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

60.52

21.04 79.59

35.41

10.98 88.51

262.74

213.88

70.9

91.6 -10.1

22.8

152.07

50.91 193.37

262.74

118.04

40.05 176.78

213.88

28.8

27.1 9.4

22.8

* including long duration orders

•

In 9M FY 23 order booking grew 9.4% while closing order book was up 22.8% over the corresponding period

last year. There have been some challenges especially in export markets in 9M FY 23, however with good

momentum in order booking, we believe these will be resolved in the coming quarters.

• The outstanding order book as on December 31, 2022 stood at ₹ 262.74 crore including long duration orders

of ₹ 120.62 crore

Outlook

• Outlook for domestic product segment within high-speed gears is promising driven by industrial capex in

key sectors like Cement, Energy, Distillery and Steel are expected to grow driven by supportive Government

policies and economic growth. Following the expiration of High Speed Licence Agreement with Lufkin Gears

LLC in January 2023, the Company will pursue the high-speed high-power segment independently, and is

confident of enhancing market share in its identified target markets.

•

In Aftermarket, the Company is focused on expanding its addressable market and market share both in

domestic and international markets.

• 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 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

Q3 FY 23

Q3 FY 22

Change %

9M FY 23

9M FY 22

Change %

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

103.86 7.74 11.71

77.3 12.1 132.5

1,503.32

1594.5

34.4 -36.0 -91.2

-5.7

237.37 14.76 190.45

168.72 22.2 301.7

1503.32

1594.5

40.7 -33.4 -36.9

-5.7

* 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.

• The orders received in 9M FY 23 stood at ₹ 190.45 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.

• The outstanding order book as on December 31, 2022 stood at ₹ 1503.32 crore, which includes ₹ 929.99 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, Delhi,

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 from molasses. The distillery at MNP is a multi-feed distillery having the ability to use grain, molasses and sugarcane juice/syrup to produce high-quality Ethanol. MZN houses two distilleries with the latest being a grain-based distillery. The existing distillery at MZN of 200 KLPD boasts of flexible product manufacturing capability - Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS) from molasses, while the recently commissioned 60 KLPD grain-based distillery at MZN can produce both Ethanol and ENA. The Company also manufactures Indian Made Indian Liquor (IMIL) at this distillery complex.

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, 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. O ffi ce : A -44, H osiery Complex, Phase-II Exte nsion, N oida, Uttar Pradesh - 201 305 Corp. O ffice : 8th Floor, Express Trade Tow ers, 15-16, Sector-16A , N oida, Uttar Pradesh - 201 301 CIN : L15421U P 1932P LC022174

Statement of Standalone Unaudited Financial Results for the Quart er and Nine M onths ended December 31, 2022

Particulars

1 Revenue from operations

2 O ther income

Total income

3 Expenses

(a) Cost of materials consumed

(b) Purchases of stock-in-trade (c) Cha nges in invent ories of finished goods, stock-in-trade and

work-in-progress

(d)

Exci se duty on sale of goods

(e)

Employee benefits expense

(!) Finance costs

(g) Depreciation and amortisation expense

{h) O ther expenses

Tota l expenses

4 Profit/ (loss) from conti nuing operati ons before exceptional

items and lax

items (net) - income/ (expense)

5 Exceptional 6 Profit/ (loss) from continuing operations before tax 7 Tax expense

(a) Currcnl tax {b) D efe rred tax

Total tax expense

8 Profit/( loss) from continuing operations after tax

9 Profit/ (loss) from discont inued operations I0 Tax expense of discontinued operat ions

I1 Profi t/(loss) from discontinued operations (after tax)

12 Profil/(loss) for the period

13 Other comprehensive income

A (i)

ltems that w ill not be reclassified to profit or loss

A (ii) In co me ta relatin g to items th at w·ill n o t be reclassified to

profit or loss

B (i)

Items that will be recl assified to profit or loss

B (ii)

Income tax relating to items that w ill be reclassifi ed to profi t or loss

O ther comprehensive income for the period, nel of lax

14 Total comprehensive income for the period

15 Paid up Equity Sha re Capital (face value 1/ -)

I6 O the r Equity

17 Earnings/ (loss) per share of I/ - each (not annual ised)

(a)

Basic (in )

(b) Diluted (in ?)

See accompanying notes to the standalone financial results

31/De/ 2022 {U naudited)

3 M onths ended

30/Sep/2022 (A udited) {refer note 6)

9 M onths ended

31/De/2021 (U naudited)

31/Dec/2022 {Unaudited)

31/Dec/2021 {Unaudited)

Year ended 31/Mar/2022 {Audited)

( in lakhs, except per share data)

165737 3342 169079

127751 1377

(26433)

19599

8696

627

2381

15338 149336

19743

- 19743

4677 448 5125 14618

- - - 14618

- -

6 18 14636 2418

6.05

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

122994 1444 124438

93547 744

(23175)

11976

7473

1073

2045

12611 106294

18144

- 18144

5738 /305\ 5433 12711 - - - 12711

104

78 12789 2418

448920 6185 455105

211873

3352

88643

45753

24852

4195

6901

39143 424712

30393

158594 188987

14376 1168 15544 173443 - - - 173443

253

(345)

(87)

(69) 173374 2418

5.26

71.74

349006 3294 352300

157535 1654

62824

28101

20778

3626

6048

33107 313673

38627 - 38627

10879 /294) 10585 28042 - - - 28042

(15)

(4)

135

90 28132 2418

11.60

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

Standalone Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Nine months ended December 31, 2022

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Particulars

31/Dec/2022 (Unaudited)

3 Months ended 30/Sep/2022 (Audited) (refer note 6)

9 Months ended

31/De/2021 (Unaudited)

31/De/2022 (Unaudited)

31/De/2021 (Unaudited)

( in lakhs)

Year ended 31/Mar/2022 (Audited)

Segment Revenue (a)

Sugar Businesses Sugar Distillery

(b)

Engineering Businesses

Power transmi ssion

Water

Total Segment revenue Less : Inter segment revenue

Total Revenue from operations

2 Segment Results

(a)

Sugar Businesses

Sugar

D istillery

(b)

Engineering Businesses

Pow er transmi ssion

Water

Total Segment results

Less:

(i)

Finance costs

Except ional items (net) - (income)/ expense

(ii) (iii) Other una llocable expenditure net of unallocable income

Total Profit/( loss) before tax

3 Segment Assets

(a)

Sugar Businesses

Sugar

D istillery

(b)

Engineering Businesses

Power transmi ssion t ater

Total Segment assets

Add : Una llocabl e assets

Total Assets

4 Segment Liabilities

(a)

Sugar Businesses

Sugar

Distillery

(b)

Engineering Businesses

Pow er transmi ssion

Water

Total Segment liabilities A dd : Unal locable liabilities

Total Liabilities

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 39056 57723 1231 328780 145460 474240

42583 7699 50282

4503 18776 23279 595 74156 54124 128280

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

93186 27589 120775

3541 7180 10721 3544 135040 12046 122994

14082 3591 17673

1098 747 1845 (229) 19289

1073 -

72 18144

176802 56273 233075

13151 30604 43755 1239 278069 16054 294123

37250 3218 40468

3487 15872 19359 625 60452 66457 126909

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

262704 78789 341493

11804 15686 27490 9195 378178 29172 349006

26407 11879 38286

4005 1252 5257 (107) 43436

3626 - 1183 38627

176802 56273 233075

13151 30604 43755 1239 278069 16054 294123

37250 3218 40468

3487 15872 19359 625 60452 66457 126909

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 48662 1424 387963 15513 403476

34638 5555 40193

3973 17123 21096 638 61927 164127 226054

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Notes to the Standalone Unaudited Financial Results for the Quarter and Nine Months ended December 31, 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.

Pending notification of the State Advised Price of sugarcane for the sugar season 2022-23 by the State Government of Uttar Pradesh, the cane price as applicable to the previous season has been considered in these financial results.

4. The Company has, during the quarter ended September 30, 2022, divested the entire equity stake held in its associate company viz., Triveni Turbine Limited (TTL), resulting in a profit of z 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. Septembe r 21, 2022.

5. The Company has obtained approval of shareholders for the buy back upto 2,28,57,142 fully paid up equity shares of 350/- per share for an aggregate amount not exceeding 800 crores, through tender offer on proportionate basis in accordance with the relevant provisions of SEBI buy back regulations and Companies Act 2013. The draft letter of offer has been filed with SEBI and final observation letter is awaited.

1/- each of the Company at a price of

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.

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 24, 2023. The statutory auditors have carried out a limited review of the above financial results.

Place: Naida (U.P.) Date : January 24, 2023

For Triveni Engineering & Industries Limited

z%.%.%

onov MANMOHA SAWHNEY N SAWHNE ""3%

Dhruv M. Sawhney

Cha irman & 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: L15421UP19321'LC022174

Statement of Consolidated Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2022

Particulars

1 Revenue from operations 2 Other income income

Total 3 Expenses

(a0) Cost or materials consumed (t) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and

(d) (e)

work-in-progress Excise duty on sale of goods Employee benefits expense Finance costs

(I) (g) Depreciation and amortisation expense

(h) Other expenses

Total exp enses

4 Profit/(loss) from continuing operations before share of profit/(loss) of associates, exceptional items and lax

5 Share of profit/ (loss) of associates 6

Profi t/(l oss) from continuing operations before exceplional items and tax Exceptional

items (net) - income/ (expense)

Profit/(loss) from continuing operations before lax

7 8 9 Tax expense

(0) Current tax (b) Deferred tax tax expense

Total

10 Profit/ (loss) from continuing operations after tax

11 Profit/ (loss) from discontinued operations

I2 Tax expense of discontinued operations 13 Profit/ (loss) from discontinued operations (after tax) 14 Profit/(loss) for the period

Profit/ (loss) for the period attribu table to :

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

15 Other comprehensive income

(i) A(ii)

B (@) B (ii)

ltems that will not be reclassified to p r o fit o r lo ss

Income tax relating to items that will not be reclassified to profit or loss

ltems 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:

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

16 Total comprehensive income for the period

Total comprehensive income for the period attributable to:

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

17 Paid up Equity Share Capital (face value 18 Other Equity 19 Earni ngs per share of z 1/ - each (not annualised)

1/-)

(0) Basic (in z) (b) Diluted (in )

See accompanying notes to the consolidated financial results

31/Dec/2022 (Unaudited)

3 Months ended 30/Sep/2022 (Audited) (refer note 7)

9 Months ended

31/Dec/2021 (Unaudited)

31/Dec/2022 (U naudited)

31/Dec/2021 (Unaudited)

Year ended 31/Mar/2022 (Audited)

(tin lakhs,except per share data)

165871 3727 169598

127752 1377

(26433)

19599 8724 813 2381 15514 149727

19871

- 19871

4694 449 5143 14728 - - - 14728

14728 -

- 14746

14746 - 2418

6.09 6.09

147162 1171 148333

15217 686

92654

12573 8418 1716 2341 13076 146681

1652

796

2448

140120 142568

7890 (4098) 3792 138776 - - - 138776

138776

253

(199)

(41)

138807

2418

57.40 57.40

123544 696 124240

93547 744

(23175)

11975 7546 1215 2045 12623 106520

17720

779

18499 - 18499

5784 (297) 5487 13012 - - - 13012

13012 -

110

- 13094

13094 - 2418

5.39 5.39

449181 5884 455065

211873 3352

88643

45753 24941 4694 6901 39354 425511

29554

1633

31187

140120 171307

14411 13253\ 11158 160149 - - - 160149

160149 -

25 3

(407)

(93)

(125)

(125) - 160024

160024 - 2418

66.24 66.24

350192 1923 352115

157535 1654

62824

28101 20897 3992 6048 33211 314262

37853

5181

43034 - 43034

10937 608 11545 31489 - - - 31489

31489 -

402

(4)

158

524

524 - 32013

32013 - 2418

13.03 13.03

469404 2219 471623

311469 2625

(28177)

40310 30265 5453 8074 49472 419491

52132

5914

58046

(671) 57375

14900 69 14969 42406 - - - 42406

42406 -

469

131

554

554 - 42960

42960 - 2418 188867

17.54 17.54

Consolidated Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Nine Months ended December 31, 2022

TRIVENI ENGINEERING & INDUSTRIES LIMITED

P articulars

31/Dec/2022 (Unaudited)

3 Months ended 30/Sep/2022 (Audited) (refer note 7)

9 Months ended

31/De/2021 (Unaudited)

31/Dec/2022 (Unaudited)

31/Dec/2021 (Unaudited)

( in lakhs)

Year ended 31/M ar/2022 (Audited)

1 Segment Revenue

(a)

Sugar Bu sinesses 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

Finance costs

Total Segme nt results Less : (i) (ii) (iii) (iv) Other unallocable expenditure net of unallocable income

Exceptional Share of (profit)/ loss of associates

items (net) - (incom e)/ expense

Total Profit/(loss) before tax

3 Segment Assets

(a)

Sugar Businesses

Sugar Distillery

(t)

Engineering Businesses

Power transmi ssion

Water

Total Segment assets Add : Unallocable assets Total Assets

4 Segment Liabilities

(a)

Sugar Busin esses

Sugar Distillery

(b)

Engineering Businesses Power transmi ssion

Water

Total Segment liabilities Add : Unallocable liabilities Total Liabilities

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

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

93186 27589 120775

3541 7730 11271

3544

135590 12046 123544

14082 3591 17673

1098 1213 2311

(229)

19755

1215 .

(779)

820

18499

176802 56273 233075

13151 42011 55162

1239

289476 27725 317201

37250 3218 40468

3487 14861 18348

625

59441 77421 136862

319103 127369 446472

15207 23737 38944 11745 497161 47980 449181

14194 14716 28910

5091 1476 6567

(644) 34833

4694 (140120) (1633)

585

171307

185346 84480 269826

18667 56623 75290 1231 346347 138986 485333

42583 7699 50282

4503 20562 25065

595 75942 62918 138860

262704 78789 341493

11804 16872 28676 9195 379364 29172 350192

26407 11879 38286

4005 2217 6222

(107) 44401

3992 .

(5181)

2556

43034

176802 56273 233075

13151 42011 55162 1239 289476 27725 317201

37250 3218 40468

3487 14861 18348 625 59441 77421 136862

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

Notes to the Consolidated Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2022

l. 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.

140120 lakhs, which is reflected under exceptional

The Company has, during the quarter ended September 30, 2022, divested the entire equity stake held in its associate company viz. Triveni Turbine Limited (TTL), resulting in a profit on such disposal of items. Tax expense for the quarter ended September 30, 2022 accordingly considers the reversal of deferred tax liability of 4550 lakhs on the undistributed share of profits of the associate recognised till the date of divestment. Consequent to the divestment, TTL has ceased to remain an associate of the Company w.e.f. September 21, 2022.

5. The Company has obtained approval of shareholders for the buy back upto 2,28,57,142 fully paid up equity shares of 1/- each of the Company at a price of 350/- per share for an aggregate amount not exceeding < 800 crores, through tender offer on proportionate basis in accordance with the relevant provisions of SEBI buy back regulations and Companies Act 2013. The draft letter of offer has been filed with SEBI and final observation letter is awaited.

6. 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). Summarised standalone financial performance of the Company is as under :

Particulars

31-Dec-2022 (Unaudited)

3 Months ended

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

9 Months ended

(in lakhs) Year ended

31-Dec-2021 (Unaudited)

31-Dec-2022 (Unaudited)

31-Dec-2021 (Unaudited)

31-Mar-2022 (Audited)

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

(after

tax

165737

147140

122994

448920

349006

467744

19743

161280

18144

188987

38627

51996

14618

152868

12711

173443

28042

38216

14636

152927

12789

173374

28132

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 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 24, 2023. The statutory auditors have carried out a limited review of the above financial results.

For Triveni Engineering & Industries Limited

Place : Noida (U.P.) Date : January 24, 2023

Dhruv M. Sawhney Chairman & Managing Director

Digitally signed by DHRUV MANMOHAN

DH R LJV MANMOHA SAWHNEY N SAWHNEY

Date:2023.01.24 17:30.58 +05'30'

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