TRIVENINSE30 October 2023

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

Triveni Engineering & Industries Limited

• PIVEDI ENGINEERING & INDUSTRIES LTD.

+91120 4308100 +91120 4311010/11 www.trivenigroup.com

REF· TEIL:SE: BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai -400 00 I Thru: BSE Listing Centre

Date: 30 October, 2023 National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (E) Mumbai - 400 051 Thru: NEAPS

Scrip Code: 532356 Sub: Investors' brief & Presentation for Q2 & Hl FY24 ended September 30, 2023

Symbol: TRIVENI

Dear Sirs,

We send herewith a copy of investors' brief & Presentation on the performance of the Company for the Q2 & HI FY24 (consolidated) ended September 30, 2023 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.

GEETA BHALLA Group Vice President & Company Secretary M.No.A9475

Encl: As above

Co rpo rate Office: 8" Floor, Express Trade Towers, Plot 15 & 16, Sector 16-A, Naida, Uttar Pradesh -- 201301, India. Registered Office: A-44, Hosiery Complex, Phase-II Extension, Noida-201 305, Uttar Pradesh. CIN No.: L15421UP1932PLC022174

GEETA BHALLADigitally signed by GEETA BHALLA Date: 2023.10.30 19:00:30 +05'30'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 24 Consolidated Results ended Sep 30, 2023

• Revenue from Operations (Net of excise duty) at ₹ 2606.8 crore, an increase of 1.4% • Profit before Exceptional items and Tax at ₹ 130.2 crore, an increase of 15%

• Profit after Tax at ₹ 96.7 crore

• Sugar & Alcohol (Distillery) Businesses

▪ Sugar sales volume is 10.6% lower during the half year whereas the blended sugar realisations have

increased by 5.8% over corresponding previous period due to high domestic and export realisations

▪ Alcohol sales of 9.4 crore litres, an increase of 11.1% over corresponding previous period resulting in

increase in net turnover of Alcohol business by 20.5% during H1 FY 24

▪ Overall sugarcane crop position seems healthy. Crushing for Sugar Season (SS) 2023-24 has already

commenced in four of the seven units

• Engineering Businesses

▪ Highest-ever quarterly revenue and profitability in Power Transmission business in Q2 FY 24, driving

robust H1 FY 24 growth of 44.8% and 58.2% respectively over previous corresponding period to reach

₹ 132.55 crore and ₹ 47.26 crore in half-year revenues and segment results

▪ Order booking of ₹ 154.85 crore in Power Transmission, an increase of 36.1% year-on-year with a

closing order book of ₹ 281.52 crore, up 14.8% year-on-year

▪ During the quarter, the Water business has won the bid of RUDSICO Greater Jaipur and the Letter of

Intent (LOI) has been received subsequently

▪ Outstanding order book of ₹ 1,572.6 crore for combined Engineering Businesses

Noida, October 30, 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 second quarter

and half year ended Sep 30, 2023 (Q2/H1 FY 24). The Company has prepared the financial results based on the

Indian Accounting Standards (Ind AS) and as in the past, has been publishing and analyzing results on a consolidated

basis.

PERFORMANCE OVERVIEW: Q2/H1 FY 24 (Consolidated Results)

Q2 FY 24

Q2 FY 23

Change % H1 FY 24

H1 FY 23

Change %

In ₹ crore

Revenue from Operations (Gross)

1,617.38

1,471.62

Revenue from Operations (Net of excise duty)

1,408.84

1,345.89

9.9

4.7

3,049.64

2,833.10

2,606.78

2,571.56

7.6

1.4

EBITDA

EBITDA Margin

75.28

5.3%

Share of income from Associates

(0.17)

57.09

4.2%

7.96

31.9

212.40

180.84

17.5

8.1%

(0.20)

7.0%

16.33

Profit Before Tax (PBT) Before Exceptional Items Exceptional Items- income/(expense) Profit Before Tax (PBT) After Exceptional Items

39.16

24.48

60.0

130.16

113.16

15.0

1,401.20

39.16

1,425.68

-97.3

130.16

1,514.36

-91.4

Profit After Tax (PAT)

29.11

1,387.76

-97.9

96.72

1,454.21

-93.3

Other Comprehensive Income (Net of Tax)

(0.03)

0.31

0.44

(1.43)

Total Comprehensive Income

29.08

1,388.07

EPS (not annualised) (₹/share)

1.33

57.40

-97.9

-97.7

97.16

1,452.78

4.42

60.15

-93.3

-92.7

• Net turnover increased by 4.7% and 1.4% respectively in Q2 FY 24 and H1 FY 24 primarily driven by higher turnover

in the Alcohol and Power transmission business.

o Sugar sales volumes (including exports) were lower by 5.9% and 10.6% in Q2 and H1 FY 24 respectively as

compared to Q2 and H1 FY 23. However, the blended realization prices were higher by ~6% both in the

quarter and half year. Consequently, the turnover was flat during the quarter and lower by 7.6% in the half

year. Sales volumes for the current half year includes exports of 14,531 tonnes of sugar at remunerative

prices, while there were no exports in previous corresponding period.

o Alcohol business turnover (net of excise duty) increased by 19.8% and 20.5% in Q2 and H1 FY 24

respectively, over the corresponding period last year, due to higher sales volumes driven by operational

efficiencies achieved post-initial stabilization period of newer distillery and increased activities in Indian

Made Indian Liquor (IMIL).

o Combined engineering turnover increased by 8.7% and 15.3% for the quarter and half year over

corresponding periods last year. This performance was boosted by a 28.4% and 44.8% increase in Power

Transmission business revenues in Q2 FY 24 and H1 FY 24 respectively.

• Profit before tax and exceptional items (PBT) increased by 60% and 15% in Q2 FY 24 and H1 FY 24 to reach ₹130.16

crore at the half year milestone.

• The gross debt on a standalone basis as on September 30, 2023 is ₹ 295.66 crore as compared to ₹ 824.96 crore as

on March 31, 2023. However, considering operational surplus funds held as fixed deposit (FD) of ₹ 285.50 crore,

the net debt as on September 30, 2023 is at ₹ 10.16 crore. Standalone debt at the end of the quarter under review,

comprises term loans of ₹ 281.94 crore, almost all such loans are with interest subvention or at subsidized interest

rate. On a consolidated basis, the net debt after considering operational surplus funds held is at ₹ 100.90 crore as

on September 30, 2023 as compared to ₹ 913.83 crore as on March 31, 2023. Overall average cost of funds is at

5.81% during Q2 FY 24 as against 5.16% in the previous corresponding period.

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

Triveni Engineering & Industries Ltd, said:

“Overall performance of the Company during the half year ended September 30, 2023 has been satisfactory, given

the fact that H1 is generally muted as the off-season expenses are expensed off. Our Alcohol business has grown

well owing to the capacity expansions during FY 23 and stabilization of operations since then. Power Transmission

business is charting new highs contributing in both size and growth to the Company as a whole.

We are all set for the new sugar season and on an overall basis, the crop seems healthier due to favourable climatic

factors as well as due to rigorous sugarcane development activities undertaken by us. Sugar production for Sugar

Season (SS) 2023-24 for the country is estimated to be lower as compared to 32.8 million tonnes in the recently

concluded SS 2022-23 mainly on account of lower production in Maharashtra and Karnataka. However, the

estimated production is still expected above the domestic consumption and we hope that the Government allows

exports at an appropriate time to capitalize on high international sugar prices. Further, we would be closely

reviewing the sugarcane price increase, if any, for the new season and hope that the Government allows increase in

sugar prices to offset the impact of increase in sugarcane price. We have commenced sugarcane crushing at four

sugar units for Sugar Season (SS) 2023-24.

Our focus in the Sugar business has been on maximising area under sugarcane and producing a healthy crop with

enhancements in yield and recovery. The Company implements a robust sugarcane development programme with

the farmer community through a multi-pronged strategy. This coupled with continued investments towards

debottlenecking, enhancing the crush rate, higher production of refined sugar at our various units along with robust

pricing environment are expected to contribute positively towards revenues and profitability.

In the Alcohol business, we have been a strong supporter of the Government's Ethanol Blended Petrol (EBP)

programme and have actively bolstered our capacities while keeping pace with the expanding range of feedstocks

for bio-ethanol production. We successfully raised our distillation capacity from 320 KLPD in FY 22 to an impressive

660 KLPD presently. Looking ahead, we are ambitiously working to further expand our capacity to reach to 1110

KLPD.

During Q2 FY 24, the Company faced several feedstock challenges that led to disruption in planned production, such

as abrupt stoppage of Surplus Rice by Food Corporation of India (FCI), introduction of Maize as feedstock, price

volatility in feedstocks. It was creditable on the part of the Government to act swiftly to revise the prices of ethanol

produced from Maize and from Damaged Food Grains (DFG). We are pleased to have a wide range of feedstocks to

choose from and these will also mitigate the risks of dependency on a particular feedstock but it is equally important

for the Government to set viable prices for each feedstock so that further capacity additions take place unabated to

meet the overall ethanol blending targets.

In our Engineering businesses, we are enthused by the performance of the Power Transmission business in particular

which continues to forge a growth path through enhanced addressable markets, diversification of product solutions

and deepening its service portfolio and client relationships across the globe. In the Water business, despite the

operational delays in certain projects, our outlook for the business remains positive as we believe that the demand

for reliable water and wastewater treatment solutions will increase in the long-term, both in India and in

International markets, leading to a healthy flow of business.

At Triveni, our business strategy revolves around identifying and harnessing growth opportunities to achieve

sustainable long-term value creation for our stakeholders. We continue to seize significant leadership opportunities

in a rapidly evolving and competitive environment. The Company is well-equipped for the future to embrace the next

phase of growth.”

Q2/ H1 FY 24: BUSINESS-WISE PERFORMANCE REVIEW

(all figures in ₹ crore, unless otherwise mentioned)

Sugar business

Triveni is one of the largest integrated sugar producers in the country, with seven state-of-the-art FSSC

22000 certified sugar manufacturing facilities located in the state of Uttar Pradesh.

Performance

Q2 FY 24

Q2 FY 23

Change %

H1 FY 24

H1 FY 23

Change %

Sugar Dispatches (Tonnes)

- Domestic - Exports - Total

Average Blended Realisation (₹/MT)* Revenue (₹ crore) PBIT (₹ crore)

244503 - 244503 37568 1011.00 (22.15)

259895 - 259895 35447 1007.70 (25.04)

-5.9

-5.9 6.0 0.3 11.5

432019 14531 446550 37426 1903.33 27.40

499435 - 499435 35373 2059.39 28.25

-13.5

-10.6 5.8 -7.6 -3.0

*including export realisations as applicable

•

Lower turnover in the Sugar business of 7.6% in H1 FY 24 due to lower domestic dispatches as compared to

previous corresponding period.

• Additional liability against levy molasses has been provided in Q2 FY 24. Out of the total impact of ₹ 18.2 crore

for the full year (net of provisions previously made for estimated increase), impact of ₹ 12.1 crore has been

considered up to September 30, 2023.

• The sugar inventory as on September 30, 2023 was 18.99 lakh quintals, which is valued at ₹ 33.6/kg.

• Co-generation operations (including incidental co-generation) achieved external sales of ₹ 12.65 crore during

H1 FY 24 as against ₹ 16.91 crore in H1 FY 23, a decline of 25%. There were no operations in Q2 FY 24, being

the off-season.

Industry Scenario – Domestic

• According to ISMA, all-India sugar production for recently concluded Sugar Season (SS) 2022-23 is estimated at

32.8 million tonnes after considering diversion of about 4.1 million tonnes of sugar equivalent into ethanol.

•

In the new season (SS 2023-24), area under sugarcane in Uttar Pradesh is up 3% Y-o-Y and with satisfactory

rainfall along with good condition of the crop, yields are expected to improve for SS 2023-24.

• However, poor rainfall patterns have led to large sugarcane acreage abandonment in other major sugarcane

producing states of Maharashtra and Karnataka, which is likely to result in lower sugarcane output in these

states.

•

In October 2022, the Directorate General of Foreign Trade (DGFT) placed exports of raw, white and refined

sugar in the restricted category, requiring exporters to secure permission from the food ministry to sell

overseas. The restriction was to stay in place until further orders or October 31, 2023, whichever was earlier.

On October 18, 2023, the Government has extended this restriction on export of sugar beyond October 31,

2023 until further orders.

Industry Scenario – International

• Global Sugar Balance Sheet pointing to deficit: International Sugar Organisation (ISO) forecasts a global sugar

deficit of 2.12 million tonnes in SS 2023-24.

• Robust sugarcane crop and sugar production expected in Brazil: For the 2023-24 season that commenced in

April, Centre South Brazil has crushed ~526 million tonnes of sugarcane, up 15% and produced 34.9 million

tonnes of sugar, up 24% from the year before. Sugar mix for the region has improved from 45.6% in the previous

year to 49.4% till mid-October. For the 2023-24 season, international reports estimate sugar production (April-

March) to be well over 40 million tonnes, which is expected to keep the global trade balanced.

• Thailand sugar production expected to remain subdued in 2023-24: International reports continue to

downgrade their estimates for the 2023-24 sugarcane crush in Thailand to below 80 million tonnes and sugar

production of below 8 million tonnes, owing to lower rainfall in many regions which has led to crop damage

resulting in lower yields.

•

International sugar prices at all time-highs: The 2023 NY #11 raw sugar futures have touched new highs in

October 2023 since crossing US 27 cents/lb earlier this year, driven by global supply concerns due to

expectations of El Nino in Thailand and lower sugar production in India. As on October 25, 2023 the NY #11

front month contract was trading at record levels of US 27.8 cents/lb. London #5 prices are also the highest in

the last ten years and currently trading at $749.40 per tonne.

NY#11 & London#5 Price Trend

850

750

650

550

450

350

Note: London #5 on left hand side (LHS) in $/tonne; NY #11 on right hand side (RHS) in US cents/lb

London #5

NY #11

29 27 25 23 21 19 17 15 13

Alcohol (Distillery) business

The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – 2 facilities, Sabitgarh (SBT) and

Milak Narayanpur (MNP) in Uttar Pradesh aggregating to 660 KLPD. These facilities have the capability to produce

Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS). The Company utilises a mix of

sugarcane-based feedstocks as well as grain. Distillers Dried Grain Solubles (DDGS), a co-product produced on grain

operations is also sold to premium Institutions and has been well accepted in market. The Company also

manufactures Indian Made Indian Liquor (IMIL).

Performance

Operational details Production (KL) Sales (KL) Avg. Realization (₹/ ltr) IMIL Sales (Lakh Cases)

Q2 FY 24 Q2 FY 23

Change %

H1 FY 24

H1 FY 23

Change %

40520 51545 58.63

10.04

43068 45709 58.10* 5.97

-5.9 12.8 0.9

68.2

33.8 19.8 7.0

90968 94002 57.87

21.30

1082.39 639.53 101.48

85345 84611 57.96*

12.53

792.12 530.58 97.02

6.6 11.1 -0.1

70.0

36.6 20.5 4.6

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

552.61 344.07 50.46

412.89 287.16 47.18

*includes relief announced by OMCs from June 1, 2022

• Alcohol production in Q2 FY 24 was impacted due to feedstock challenges that led to disruption in planned

production as the Central Government without prior intimation to the industry, has suspended the supply

of surplus rice from FCI. We switched over to maize as feedstock for the first time after initial trials and

stabilization period.

• Alcohol sales volume increased by 12.8% and 11.1% in Q2 FY 24 and H1 FY 24, over corresponding previous

periods due to full year impact and stabilization of new grain distillery commissioned in the previous

period(s).

• Net turnover was boosted by higher alcohol sales, higher Distillers Dried Grain Solubles (DDGS) sales and

higher volumes in the IMIL business.

• The Uttar Pradesh State Government has retrospectively amended the molasses policy for 2022-23 on levy

molasses obligations, to equate B and C heavy molasses without considering the respective increased

generation and equivalent ethanol output. This impacted the revenue in sugar and further reduced the

availability of molasses as a feedstock for Ethanol in Q2 FY 24.

• During the quarter and half year under review, alcohol produced from sugarcane-based feedstocks formed

65% and 64% of the total sales volumes respectively, with sales of ethanol made from B-heavy molasses at

59% and 58% respectively. In the previous corresponding quarter and half year, alcohol produced from

sugarcane-based feedstocks formed 76% and 87% of the total sales volumes respectively, with sales of

ethanol made from B-heavy molasses at 70% and 79% respectively.

• Alcohol sales from grains constituted 35% and 36% in the current quarter and half year under review while

the same contributed to 24% and 13% in previous corresponding quarter and half year respectively.

Following the suspension of supplies of surplus rice from Food Corporation of India, the Company faced

challenges from price volatility and availability of feedstocks such as damaged food grains during the

quarter. Thus, the Company transitioned promptly to produce ethanol from maize for the first time in Q2

FY 24.

• Ethanol constituted 94% and 93% of alcohol sales during Q2 FY 24 and H1 FY 24 respectively, as compared

to 95% and 95% in the corresponding periods last year.

Domestic Industry Scenario

• Out of the 600 crore liters finalised by the OMCs for the Ethanol Supply Year 2022-23 (Dec-Oct), contracts for

565 crore liters have been contracted till October 15, 2023.

• Against the above, 467 crore liters have been lifted by the OMCs till October 15, 2023.

• The average blending percentage is 11.8% till October 15, 2023.

• Of the total contracted quantity of 565 crore liters, sugarcane-based feedstocks collectively contribute the

highest at 70% with B-Heavy molasses, Sugarcane Juice and C-Heavy molasses accounting for approx. 45%, 24%

and 1% respectively. Grain-based feedstocks such as surplus rice, damaged food grain, maize contribute to 26%,

3%, 1% respectively.

• For Ethanol Supply Year 2023-24 (Nov-Oct), tender has been floated for 825 crore litres with a 15% blending

target

• As mentioned earlier, the Uttar Pradesh State Government has retrospectively amended the molasses policy

for 2022-23 on levy molasses obligations, to equate B and C heavy molasses without considering the respective

increased generation and equivalent ethanol output.

•

In July 2023, Food Corporation of India has suspended supplies of Surplus Rice for the purpose of production

of ethanol. Despite the feedstock challenges, the industry has promptly shifted to damaged food grain and

maize since then.

• Keeping in mind the developments and volatility in feedstock rates of ethanol were revised in August 2023, as

shown below:

Name of Feedstock used

for producing Ethanol

ESY 2022-23

Sugarcane Juice / Syrup

B-Heavy Molasses

C-Heavy Molasses

Damaged Food Grains

Maize

Surplus Food Grains

(FCI Rice)

65.61

60.73

49.41

55.54

56.35

58.50

(₹/ litre)

Revised Rates

ESY 22-23

Effective from

August 7, 2023

August 22, 2023

65.61

60.73

49.41

60.29

62.36

58.50

65.61

60.73

49.41

64.00

66.07

58.50

Power Transmission Business

This business based at Mysuru involves manufacturing of high-speed gears and gearboxes up to 70MW capacity

with speeds of 70,000 rpm and Defence products and solutions for the Navy.

Performance

Revenue (₹ crore) PBIT (₹ crore) Order Booking (₹ crore) Closing Order Book (₹ crore)* *including long duration orders

Q2 FY 24

Q2 FY 23

Change %

H1 FY 24

H1 FY 23

Change %

78.46 28.86 89.48 281.52

61.12 21.10 59.90 245.16

28.4 36.8 49.4 14.8

132.55 47.26 154.85 281.52

91.55 29.87 113.78 245.16

44.8 58.2 36.1 14.8

•

Increase in H1 FY 24 turnover and profitability (PBIT) by 44.8% and 58.2% respectively driven by domestic

sales across OEMs.

• Defence business received an order worth ₹ 18 crore for supply of propulsion gearboxes for the Fast Patrol

Vessels of Indian Guard. This marks the entry of this business in the marine gearbox segment. The gearboxes

need to be highly engineered, compact and light weight, to meet the specific requirements of the vessels

and the Company shall be undertaking the project with own design, inhouse manufacturing & testing and

with over 90% indigenous content, which is a major step and in line with the Make in India policy of

Government of India. With this, the Defence business will also be well placed to support nation’s future

shipbuilding projects of similar nature with a completely indigenous solution.

• The outstanding order book as on September 30, 2023 stood at ₹ 281.52 crore including long duration

orders of ₹ 138.94 crore.

Outlook

• Positive outlook on order bookings driven by focus on market share gains in product segment, especially

from the international market through greater promotion of our technology and focus on new and existing

customer relationships. And increasing footprint to capture high-growth opportunities for Aftermarket

segment through a combination of own efforts and expanding the agents’ network.

•

Infrastructure growth providing stimulus for expansion of Steel and Cement for Waste Heat Recovery

(WHR)

• Domestic product segment continues to grow mainly driven by Steam Turbine Generator (STG)

• Domestic Oil & Gas sector is doubling the refining capacity by 2030 leading to gearbox requirements for

Steam Turbines, Gas Turbines, Pumps and Compressors

• Growing potential in the Waste-to-Energy (WtE) through agricultural and municipal waste

•

In the Defence segment, the business expects increased order booking from key segments of Gas Turbines

packaging, propulsion gearboxes, propulsion shafting and special application pumps where the key

activities of qualifications and Request For Proposal (RFP) have progressed considerably in the last couple

of years

• Setting up of dedicated multi-modal facility for Defence products will also help the business gain confidence

of key customers and expand its service offerings

Water business

This business is focused on providing world-class solutions in water and wastewater treatment to customers in

industrial and municipal segments. This business is gaining faster momentum and is getting recognition in a high

potential market as a supplier of superior quality products and services at competitive costs.

Performance

Q2 FY 24

Q2 FY 23

Change %

H1 FY 24

H1 FY 23

Change %

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

62.13 6.63 7.46 1291.05

68.25 4.47 1.95 1579.39

-9.0 48.3 282.6 -18.3

126.85 9.63 18.93 1291.05

133.51 7.02 178.74 1579.39

-5.0 37.2 -89.4 -18.3

* 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.

• Revenues declined due to delay in execution in certain projects.

• The Maldives project was inaugurated by Maldives President HE Mr. Ibrahim Mohamed Solih in August 2023

• During the quarter, the business has won the bid of RUDSICO Greater Jaipur under Joint Venture agreements

with Triveni as the lead partner. The Letter of Intent (LOI) for the same was received in October 2023. Triveni’s

share in the contract is ₹ 355 crore (including O&M, GST, etc.).

• The business is actively targeting foreign projects wherever it possesses the pre-qualifications and funding is

ensured through multilateral and reputed agencies.

• The outstanding order book as on September 30, 2023 stood at ₹ 1291.05 crore, which includes ₹ 891.95 crore

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

Outlook • After achieving success in Maldives and Bangladesh, Water business is trying to expand activities in overseas

markets.

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

to target this market.

• Business is also exploring Public Private Partnership (PPP) opportunities for Sewage Treatment Plant (STP)

recycling.

• Municipal business opportunities are looking attractive in many states

• Outlook is positive for EPC and HAM projects driven by large investments by Governments, both at state level

and at central. Market is witnessing increasingly more & more projects under Public Private Partnership (PPP) -

HAM model and the Company would widely participate in this business segment.

Attached: Details to the Announcement and Results Table

About Triveni Engineering & Industries Limited Triveni Engineering & Industries Limited (TEIL) is a diversified industrial conglomerate having core competencies in the areas of sugar, alcohol, power transmission and water. The Company holds the position of one of India's largest integrated sugar manufacturers and one of the largest ethanol manufacturers, while making significant contributions in Power Transmission and in Water & Wastewater treatment solutions. TEIL currently has seven sugar mills in operation at Khatauli, Deoband, Sabitgarh, (all in western Uttar Pradesh), Chandanpur, Rani Nangal and Milak Narayanpur (all in central Uttar Pradesh) and Ramkola (eastern Uttar Pradesh). While the Company’s Power Transmission (Gears) manufacturing facility is located at Mysuru, the Water & Wastewater treatment business is located at Noida. The Company currently operates 6 co-generation power plants located across five sugar units, with 104.5 MW grid connected co-generation capacity.

The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – 2 facilities, Sabitgarh (SBT) and Milak Narayanpur (MNP) in Uttar Pradesh aggregating to 660 KLPD. These facilities have the capability to produce Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS). The Company utilises a mix of sugarcane-based feedstocks as well as grain. Distillers Dried Grain Solubles (DDGS), a co-product produced on grain operations is also sold to premium Institutions and has been well accepted in market. The Company also manufactures Indian Made Indian Liquor (IMIL).

The Company produces premium quality multi-grade crystal sugar, raw (as per the market/export requirements), refined and pharmaceutical sugar. All of the Sugar units are FSSC 22000 certified. The sugar is supplied not only to household consumers but also to bulk consumers. The Company has supply chain relationship with leading multinational beverage, food & FMCG companies, pharmaceutical companies and leading confectionery producers. It also has a strong presence in branded sugar market through its brand “Shagun”.

The Company is a dominant market player in the engineered-to-order turbo gearbox manufacturer in India. The Power Transmission business has 3 different business segments – Gears, Defence, Built to Print. It delivers robust and reliable Gears solutions which cover a range of applications and industries to meet the ever-changing operating conditions and customers’ requirements. The Company has become a dominant supplier to all major OEMs in the country, offering solutions to all industrial segments including Oil and Gas as per AGMA, API-613 and API-677 standards. It is amongst the market leaders in high-speed Gears and Gearboxes up to 70 MW capacity and speed of 70,000 rpm. The major product portfolio includes steam turbines, gas turbines and compressor gearboxes under the High-Power High-Speed segment. In the Low-Speed segment, the Company focuses on the gearboxes used in applications such as reciprocating pumps and compressors, hydel turbines, mill and extruder drives for metal, sugar, rubber and plastic industries, marine applications, etc. Its robust and reliable products are backed by 360-degree service solutions which minimise the downtime for its customers. The Company provides health monitoring services for all types of critical gearboxes, high-speed and low-speed, as well as maintains an inventory of dimension ready sites for immediate solution.

The Company provides complete and sustainable water technology solutions across the water usage segments. Advanced Solutions offered for total water management include turnkey / EPC, customer care, operations and maintenance, life cycle models such as Design, Build Own & Operate (DBOO), Design, Build Own Operate and Transfer (DBOOT), BOOT, equipment supply for unit processes like screening, grit separation, clarification and sludge handling. The Customer Care Division offers value added services for operation management and performance optimisation. The quality service offerings are tailored to customers’ requirements, which in many cases form an integral part of the main contract - operations and maintenance, annual maintenance contracts, product & process audit, health check-up and overhauling, pilot experiments, refreshment, upgradation and automation of existing plants, spares and service consumables and chemicals and on-site training and assistance.

Triveni Brands is the FMCG Division of the Company which currently constitutes Shagun Sugar, Triveni Sugar and the Private Label Business. The mission of this division is to create innovative and high-quality products that delight customers. Our products have a strong omni-channel strategy and we are committed to growing in a sustainable manner while keeping customer at the very center.

As a result of a Scheme of Arrangement, the Company's steam turbine division was demerged into one of its wholly owned subsidiaries, Triveni Turbine Limited (TTL), and was listed on the NSE and BSE in 2011. The Company owned 21.85% of TTL's equity, until September 21, 2022 when the entire stake was divested with net proceeds of ₹ 1,593 crore.

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, Noida, Uttar Pradesh - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201 301 CJN : L15421UP1932PLC022174

Statement of Standalone Unaudited Financial Results for the Quarter and Half Year ended September 30, 2023

·4%

Parti culars

30/Sep/2023 (U n au dited )

3 Mon th s en d ed 30/7un/2 023 (U n au d ited)

6 Month s en d ed

30/S ep/2022 (A u dited) (refer n ote 4)

30/S ep/2023 (U na u dited )

30/Sep/2 022 (A u d ited )

Year ended

31/M ar/2023 (A u dited)

( in lakhs, except per share data)

l Revenue from operations

2 Other income

Total in come

3 Expenses

(a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and

work-in-progress

(a) Excise duty on sale of goods

(e) Employee benefits expense

(f)

Finance costs

(g) Depreciation and amortisation expense

(h ) Other expenses

Total exp enses

4 Profit/(loss) from con tin u in g op eration s b efore excep tion al

items an d tax

5 Exceptional items (net) - income/ (expense) 6 Profit/(loss) from con tin u in g op er ation s b efore tax 7 Tax expense

{a) Current tax (b) Deferred tax Total tax exp en se

8 Profit/(loss) from continu in g op erations after tax

9 Profit/ (loss) from discontinued operations 10 Tax expense of discontinued operations 11 Profit/ (loss) from discontinued operations (after tax) 12 Profit/(loss) for th e period

13 Other comprehensive income

A (i)

Items that will not be reclassified to profit or loss

A (ii) Inco me ta x rela ting to items tha t w ill no t be reclassified to

profit or loss Items that will be reclassified to profit or loss

B (i)

B (ii) Income tax relating to items that will be reclassified to profit

or loss

Oth er comp reh en sive income for th e p eriod , n et of tax

14 Total comprehensive income for the period 15 Paid up equity share capital (face value 1/-)

16 Other equity

17 Earnings/ (loss) per share of 1/-each (not annualised)

(a) Basic (in ) (b) Diluted (in )

See accompanying notes to the standalone financial results

161666 803 162469

12025 1042

98589

20854

8212

800

2576

14584 158682

3787 - 3787

892 83 975 2812 - - - 2812

- -

(4)

(1)

(3) 2809 2189

1.28 1.28

143158 799 143957

71348 1284

12415

23432

8630

1868

2526

13478 134981

8976

- 8976

2089 226 2315 6661 - - - 6661

47 6708 2189

3.04 3.04

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

304824 1602 306426

83373 2326

111004

44286

16842

2668

5102

28062 293663

12763

- 12763

2981 309 3290 9473 - - - 9473

44 9517 2189

4.33 4.33

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

65.70 65.70

630690 7915 638605

395153 4624

8872

69326

34702

4984

9348

56277 583286

55319

158594 213913

19680 1832 21512 192401 - - - 192401

(232)

(58)

(194)

(49)

(319) 192082 2189

263750

80.08 80.08

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Standalone Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Half year ended September 30, 2023

Particulars

·,,

30/Sep/2023 (U n au d ited) 1,

3 Month s en d ed 30/Ju n/2023 (U n au d ited )

30/Sep/2022 (A u d ited) (refer n ote 4)

6 Mon th s en d ed

30/Sep/2023 (Unau d ited )

30/Sep/2022 (A u d ite d )

Year en d ed 31/M ar/2023 (A u d ite d )

( in lakhs)

Segmen t Revenu e (a)

Su gar & A llied Bu sin esses Sugar Distillery

(b) En gineering Bu sinesses Power transmission Water

Total Segmen t reven u e

Less : Inter segment revenue

Total Reven u e from op eration s

2 Segmen t Resu lts

(a) Sugar & Allied Businesses

Sugar Distillery

(b ) En gineering Bu sin esses

Power transmission Water

Total Segment resu lts Less : (i) (ii) Exceptional items (net) - (income)/ expense (iii) Other unallocable expenditure net of unallocable income

Finan ce costs

Total Profit/loss) before tax

3 Segmen t A ssets

(a) Sugar & Allied Businesses

Sugar Distillery

(b) En gineering Bu sin esses Pow er transmission Water

Total Segmen t assets Add : Unallocable assets Total A ssets

4 Segmen t Liab ilities

(a) Sugar & Allied Businesses

Sugar Distillery

(b) En gineering Bu sin esses

Pow er transmission Water

Total Segmen t liab iliti es Add: Unallocable liabilities Total Liab ilities

101100 55261 156361

7846 6141 13987

4390 174738 13072 161666

(2215) 5046 2831

2886 568 3454 (30) 6255

800 - 1668 3787

159688 91403 251091

19652 37958 57610 1455 310156 49356 359512

10617 8872 19489

6740 16208 22948 631 43068 48102 91170

89233 52978 142211

5409 6404 11813 3770 157794 14636 143158

4955 5102 10057

1840 378 2218 (36) 12239

1868 - 1395 8976

254320 89429 343749

20653 37704 58357 1314 403420 20239 423659

10630 7767 18397

6226 16638 22864 562 41823 109189 151012

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

190333 108239 298572

13255 12545 25800 8160 332532 27708 304824

2740 10148 12888

4726 946 5672 (66) 18494

2668 - 3063 12763

159688 91403 251091

19652 37958 57610 1455 310156 49356 359512

10617 8872 19489

6740 16208 22948 631 43068 48102 91170

205939 79212 285151

9155 13224 22379 7688 315218 32035 283183

2825 9702 12527

2987 669 3656 (453) 15730

3568 (158594) 1512 169244

154450 76943 231393

16871 34173 51044 1397 283834 190291 474125

12914 6833 19747

5667 16424 22091 623 42461 100340 142801

436195 186553 622748

22525 34898 57423 15936 696107 65417 630690

30583 21232 51815

7644 2559 10203 (801) 61217

4984 (158594) 914 213913

264700 88468 353168

21071 40087 61158 1123 415449 19121 434570

36871 6953 43824

5711 20095 25806 592 70222 98409 168631

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Standalone Statement of Assets and Liabilities

Non-current assets (a) Property, plant and equipment (b) Capital work-in-progress Investment property (c) ( d) Other intangible assets (e) Financial assets

(i) Investments (ii) Trade receivables (iii) Loans (iv) Other financial assets

(f) 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

TOTAL - 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)

143350 11712 442 209

5625 81 2901 1822 9367 175509

145441 2831 442 250

5349 211 2903 1588 1983 160998

88005

199649

31431 24290 11358 35 1409 27475 184003 359512

38462 6895 209 283 1209 26865 273572 434570

2189 266153 268342

2189 263750 265939

16021 930 2466 11164 1887 32468

13456 591

14175 1228 2219 10840 1962 30424

68068 569

805

862

13616

8347 17111 4676 100 58702 359512

40598

7872 15709 4429 100 138207 434570

a 5

3'.6'

--"

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Standalone Statem ent of Cash Flows

Cash flows from operating activities Profit before tax Adjustments 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/writ e off of inventory Net fair value losses/ (gains) on investments Mark-to-market losses/ (gains) on derivatives Credit balances written back Financial guarantee commission income Exceptional items - profit upon divestment in equity shares Unrealised losses/ (gains) from changes in foreign exchange rates Net loss/ (profit) on sale/wri te off/impairment of property, plant and equipment Net loss/ (profit) on sale/redemption of investments Interest income Dividend income Finance costs

Working capital adjustments : Change in inventories Change in trade receivables Change in oth er financial assets Change in oth er assets Change in trade payables Change in other financial liabilities Change in other liabilities Chanse in rovisions

Cash enerated from/(used in) operations Income tax Net cash inflow/(outflow) from o eratin activities

refund net

aid

Cash flows from investing activities Purchase of property, plant and equipment and intangible assets Proceeds from sale of property, plant and equipment Investment in joint venture Proceeds from disposal of investment in associate Proceeds from disposal/redemption of investments (other than in subsidiaries and associate) Loan to subsidiaries Repayments of loan by subsidiaries Decrease/ (increase) in deposits with banks Interest received Dividend received Net cash inflow/(outflow) from investin activities

Cash flows from financing activities Proceeds from long term borrowings Repayment of long term borrowings lncrease/(decrease) in short term borrowings Interest paid (other than on lease liabilities) Payment of lease liabilities (interest portion) Payment of lease liabilities (principal portion) Buy-back of equity shares Buy-back costs Tax paid on buy-back of equity shares Dividend Net cash inflow/(outflow) from financin activities

aid

Net increase/(decrease) in cash and cash equivalents Cash and cash e uivalents at the be Cash and cash equivalents at the end of the period

in of the veriod

( in lakhs)

12763

169244

213913

5102 179

7 (8) 6 (229) (15)

24 5

(314) (7) 2668

111637 6957 (966) (584) (26816) 604 1495 494 113002 5141 107861

(17147) 77 (250)

225 (10373) 88 7 (27370)

6064 (8007) (50988) (2710) (68) (273)

7114 (63096)

17395 6895 24290

4520 63

18 33 (28) (17) (9) (158594) (51) 108

(604) (1100) 3569

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

(16224) 15

159300 3 (700)

(110033) 287 1100 33748

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

64455 1822 66277

9348 (28) (32) 52 (14) 76 (213) (23) (158594) 14 164 (10) (4170) (1100) 4984

4017 (12276) (457) (1285) 6507 (123) 5193 1763 64180 20986 43194

(23587) 40

159300 43 (1200) 75 180 3938 1100 139889

4224 (13698) (58404) (4914) (148) (1513) (80000) (606) (18116) 4835 (178010)

5073 1822 6895

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Notes to the Standalone Unaudited Financial Results for the Quarter and Half Year ended September 30, 2023

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. As recommended by the Board of Directors, the shareholders at their annual general meeting held on September 8, 2023 approved a final dividend of 325 % (i.e. z 3.25 per equity share of the face value of z1 each) to the equity shareholders aggregating to z 7114 lakhs for the financial year ended March 31, 2023, and the same has been paid to all the eligible shareholders within the prescribed time.

4. 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.

5. 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 October 30 , 2023. The statutory auditors have carried out a limited review of the above financial results.

Place: Noida Date : October 30, 2023

/,~]- 1,"'0'.

. ~~\

3 0

' .'»

For Triveni Engineering & Industries Limited

Dhruv M. Sawhney

Chairman & Managing Director

TRIVENI ENGINEERING & INDUSTRIE S LIMITED Regd. Office : A-44, Hosiery Complex, Phase-II Extension, Noida, Uttar Pradesh - 201 305 Corp. Office : 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201 301 CIN : L15421UP1932PLC022174

Statement of Consolidated Unaudited Financial Results for the Quarter and Half Year ended September 30, 2023

( in lakhs, except pershare data)

Revenue from operations

2 Oth er income

Total income

3 Expenses

(a) Cost of materials consumed Purchases of stock-in-trade (b) (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress

(d) Excise duty on sale of goods Employee benefits expense (e) (f) Finance costs (g)

D ep red ation and amortisation exp en se Other ex nses

(h)

Total ex enses

4 Profit/(loss) from continuing operations before share of profil/(loss)

of associ ates an d joint ven tur es, excep tion al items an d tax

rofit/ oss) of associates and ioint ventures 5 Share of 6 Profit/(loss) from continuing operations before exceptional items

and tax

8 Profit

'loss from con tin u in

erations after tax

10 Prof 11 Profit/ (loss) from discontinued operations 12 Tax expense of discontinu ed operations 13 Profit/ loss) from discontinued o erations after tax 14 Profi

loss for the eriod

Profit/ (loss) for the period attributable to:

(i) Owners of the Company ii) Non-controlliny interests 15 Other comprehensive in come

A (i) A (ii)

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

B(@) Items that will be reclassified to profit or loss B (ii) Income tax relating to items that will be reclassified to profit

or loss

Other com rehensive income for the

eriod, net of tax

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

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

16 Total com rehensive income for the eriod

Total comprehensive income for the period attributable to:

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

17 Paid up equity share capital (face value 1/-) 18 Other equity 19 Earnings per share of 1/- each (not annualised)

(a) Basic (in &) (b) Diluted (in< )

See accompanying notes to the consolidated financial results

161738 1235 162973

12025 1042

98589

20854 8247 1019 2576 14688 159040

3933

3916

926 79 1005 2911

2911

(4)

(1)

(3)

2908

2189

1.33 1.33

143226 1221 144447

71348 1284

12415

23432 8669 2083 2526 13587 135344

9103

9100

2113 226 2339 6761

6761

6808

2189

3.09 3.09

147162 1171 148333

15217 686

92654

12573 8418 1716 2341 13076 146681

1652

796

2448

140120 142568

7890 4098 3792 138776

138776

253

(199)

(41)

138807

2418

57.40 57.40

304964 2456 307420

83373 2326

111004

44286 16916 3102 5102 28275 294384

13036

13016

3039 305 3344 9672

9672

9716

2189

4.42 4.42

283310 2157 285467

84121 1975

115076

26154 16217 3881 4520 23840 275784

9683

1633

11316

140120 151436

9717 3702 6015 145421

145421

253

(431)

(99)

143

(143)

145278

2418

60.15 60.15

631010 8041 639051

395153 4624

8872

69326 34828 5674 9348 56615 584440

54611

1633

56244

140120 196364

179180

(232)

(58)

(256)

(55)

375

(375)

178805

2189 264336

74.58 74.58

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Consolidated Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Half year ended Sep 30, 2023

Segm en t Reven u e

(a)

(b)

Sugar & Allied Businesses Sugar Distillery

En gin eeri n g Bu sin esses Power transmission Water

Total Se men t reven u e Less : Inter sement revenue Total Revenue from o erations

2 Segmen t Resu lts

(a)

(b )

Sugar & Allied Businesses Sugar Distillery

Engineering Businesses Power transmission Water

Finan ce costs

Total Se ment results Less: (i) (ii) Exceptional items (net) - (income)/ expense (iii) Share of (profit)/loss of associates and joint ventures (iv) Other unallocable expenditure net of unallocable income

TotalProfi

loss before lax

3 Segm en t A ssets

(a)

Sugar & Allied Businesses Sugar Distillery

(b)

Engineering Businesses

Po w er transmissio n Water

en t assets

Total Se Add : Unallocable assets Total A ssets

4 Segmen t Liab ilities

(a)

Sugar & Allied Businesses Sugar Distillery

(b )

Engineering Businesses

Power transmission

Water

Total Se men l li abilities Add : Unallocable liabilities Total Liab ilities

101100 55261 156361

7846 6213 14059 4390 174810 13072 161738

(2215) 5046 2831

2886 663 3549 (30) 6350

1019

1398 3916

159688 91403 251091

19652 55082 74734 1455 327280 43386 370666

10617 8872 19489

6740 17759 24499 631 44619 56920 101539

89233 52978 142211

5409 6472 11881 3770

157862 14636 143226

4955 5102 10057

1840 300 2140 (36) 12161

2083

975

9100

254320 89429 343749

20653 55260 75913 1314 420976 13968 434944

10630 7767 18397

6226 18274 24500 562 43459 118152 161611

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

190333 108239 298572

13255 12685 25940 8160 332672 27708 304964

2740 10148 12888

4726 963 5689 (66) 18511

3102

2373

13016

159688 91403 251091

19652 55082 74734 1455 327280 43386 370666

10617 8872 19489

6740 17759 24499 631 44619 56920 101539

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

436195 186553 622748

22525 35217 57742 15936

696426 65416 631010

30583 21232 51815

7644 2428 10072 (801) 61086

5674 (140120) (1633)

801

196364

264700 88468 353168

21071 57178 78249 1123 432540 12904 445444

36871 6953 43824

5711 21773 27484 592 71900 107019 178919

es.R' {/ 6. .

€

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Consolidated Statement of Assets and Liabilities

Non-current assets (a) Property, plant and equipm ent (b) Capital work-in-progress (c) Investment property (d) Goodwill (e) Other intangible assets () Investments accounted for using equity method (g)

Financial assets (i) Investments (ii) Trade receivables (iii) Loans (iv) Other financial assets

(h) Deferred tax assets (net) (i) 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

TOTA L - A S S ET S

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)

145441 2831 1210 68 250

616 17109 3 1538 36 2145 171247

143350 11712 1214 68 209 230

621 16608 1 2147 40 9573 185773

88005

199649

32318 24846 11398 35 1929 26362 184893 370666

2189 266938 269127

24243 930 2466 11196 3265 42100

14282 591

805

13622

8032 17331 4676 100 59439 370666

39197 7201 754 58 1726 25612 274197 445444

2189 264336 266525

22240 1228 2219 10872 3394 39953

68890 569

862

40606

7562 15948 4429 100 138966 445444

( in lakhs)

13016

151436

196364

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Consolidated Statement of Cash Flows

Cash fl ows from operati ng activiti es Profi t before tax Adjus tments for:

Share of net loss/ (profit) of associate accounted for us ing the equity method Depreciation and amortisation expense Bad debts wri tten off/impairment loss allowance {net of reversals) on assets Provision for non moving/ obs olete inventory (net of reversals) Loss on sale/ write off of inventory Net fair value losses/ (gains) on investments M ark-to -mar ket losses/ (gains) on derivatives Credit balances wri tten back Exceptional items - profit upon divestment in equity shares Unrealised losses/ (gains) from changes in foreign exchange rates Net loss/(profit) on sale/wr ite off/impairm ent of property, plant and equipment Net loss/{profit) on sale/redemption of investments Interest income Dividend income Finance costs

Working capital adjus tments : Change in inventori es Ch ange in tr ade receivables Change in other financial assets Change in oth er assets Ch ange in trade payables Change in other financial liabilities Ch ange in oth er liabilities Ch an e in rovisions

Cash enerated from/( used in) o Income tax Net cas h inf low/(outflow) from o erati n activities

refun d net

aid

Cash fl ows from investing activiti es Purchase of property , plant and equipment and intangible assets Proceeds from sale of property, plant and equipment Investment in joint venture Proceeds from disposal of investments in associate Pr oceeds from dis posal/redemption of investments {other than in subsidiaries and associates) Purchase of investment property Decrease/ {increase) in deposits with banks Interest received Dividend received from associate Other dividends received Net cash infl ow/(outflow) from investin activities

Cash fl ows from fi nancing acti viti es Proceeds from long term borrowings Repayment of long term borrowings Increase/ (decrease) in short term bor rowings Interest paid {other than on lease liabilities) Payment of lease liabilities (interest portion) Payment of lease liabilities (principal portion) Buy-back of equity shares Buy-back costs Tax paid on buy-back of equity shares Dividend Net cash infl ow/(outflow) from fi nancin activities

aid

Net increase/(decrease) in cash and cash equivalents Cash and cash e uivalents at the be inniny of the eriod Cash and cash equivalents at the end of the period

20 5102 179

7 (8) 6 (229)

24 5

(1186) (7) 3102

111637 7179 (881) (710) (26818) 604 1420 494 112956

(1633) 4520 63

18 33 (28) (17) (140120) (51) 108

(1023) (5) 3881

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

107699

108797

(17147) 77 (250)

3 (4) (10364) 994

7 (26684)

6635 (8418) (50988) (3144) (68) (273)

7114 (63370)

17645 7201 24846

(16224) 15

159300 3

(110031) 476 1095 5 34639

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

64371 2328 66699

(1633) 9348 (28) (32) 52 (14) 76 (213) (140120) 14 164 (10) (5409) (5) 5674

4017 (13155) (368) (3605) 6507 (123) 5152 1763 60890 21146 39744

(23587) 40

159300 43

(311) 4780 1095 5 141365

7524 (14534) (58404) (5604) {148) (1513) (80000) (606) (18116) 4835 (176236)

4873 2328 7201

('"~e, #»\%A-3. 59A

TRIVENI ENGINEERING & INDUSTRIES LIMITED

Notes to the Consolidated Unaudited Financial Results for the Quarter and Half Year ended September 30, 2023

In view of the seasonality of the Sugar Business, the performance results may vary from quarter to quarter.

3. As recommended by the Board of Directors, the shareholders at their annual general meeting held on September 8, 2023 approved a final dividend of 325% (i.e. 3.25 per equity share of the face value of 1each) to the equity shareholders aggregating to 7114 lakhs for the financial year ended March 31, 2023, and the same has been paid to all the eligible shareholders within the prescribed time.

4. The standalone audited 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 :

3 Months ended

6 Months ended

(in lakhs) Year ended

30-Sep-2023 (Unaudited)

30-June-2023 (Unaudited)

30-Sep-2022 (Audited) (refer note 5)

30-Sep-2023 (Unaudited)

30-Sep-2022 (Audited)

31-Mar-2023 (Audited)

161666

143158

147140

304824

283183

630690

3787

2812

8976

161280

12763

169244

213913

6661

152868

9473

158825

192401

2809

6708

152927

9517

158738

192082

Particulars

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

5. 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.

6. 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 October 30, 2023. The statutory auditors have carried out a limited review of the above financial results.

Place: Naida Date : October 30, 2023

For Triveni Engineering & Industries Limited

Dhruv M. Sawhney

Chairman & Managing Director

22»2\ e %dz, , .$>

I :

Investor Presentation Q2 / H1 FY 24

November 2023

AGENDA

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

COMPANY OVERVIEW

Integrated and diversified conglomerate in areas of sugar, ethanol and engineering

Located strategically in sugarcane-rich western and central belt of Uttar Pradesh

Among the Top 3 sugar manufacturers in India & a leading supplier for ethanol

Dominant market player in the engineered-to-order turbo gearbox industry

Efficient, sustainable and complete water/wastewater treatment solutions provider, across the water cycle

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

BUSINESS OVERVIEW

SUGAR

ALCOHOL

POWER TRANSMISSION

WATER SOLUTIONS

• Flexibility of feedstock and

installations globally

• 7 FSSC 22000 certified sugar

plants in U.P., India

• 335K+ farmer associates • 2,10,000+ Hectare area under

Sugarcane

• State-of-the-art alcohol producing facilities with capacity of 660 KLPD

product mix

• Multi-grade - Large, Medium and

• Products include Fuel-Grade

Small White Crystal Sugar, Refined Sugar, Raw Sugar (for export based on market dynamics)

Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit

• Overall capacity to be further

expanded to 1110 KLPD

• Pharmaceutical-grade Sugar • Refined sugar 60% of overall portfolio fetching higher realisations

• 6 power generation plants with

~104.5 MW grid capacity

• 3 business segments – Gears,

• Leading solutions provider for

Defence, Built to Print

• 12,000+ high speed gearbox

• Among the largest engineered to order turbo gears manufacturers • Unmatched world-class delivery time, reputation for reliability & product excellence

• Our Defence Portfolio: Propulsion

Gearboxes and other critical gearboxes, Critical Turbo and Motor- driven Pumps, Gas Turbine Generators for auxiliary power, Fin Stabilisers, Propulsion system integration, propulsion Shafting

efficient water management for industrial/municipal/ urban applications

• 12,000+ Million Litres Per Day

(MLD) of water treated • Full range of innovative

water/wastewater treatment solutions across all major water usage segments

• Customised, sustainable EPC

solutions/services • Efficient total water

management across the water cycle

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

OUR PAN-INDIA FOOTPRINT

210K+

Hectare Area under Sugarcane

335K+

Farmer Network

~61,000 Tonnes per day crushing capacity

Note: Map for representation purpose and not to scale

TEIL FACILITIES TRIV ENI WATER PROJECTS

OUR SERVICE LOCATIONS

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

FOUNDING PRINCIPLES

ETHICS

SUSTAINABILITY

PRODUCT QUALITY

TECHNOLOGY

STRONG RELATIONSHIPS

• Professional and

transparent business practices

• Strong focus on

Environmental, Social and Governance (ESG)

• Leadership in all our business lines with sustainability at the core

• Enabling

Environmentally responsive operations

• Best in class manufacturing

• Internationally

benchmarked on quality standards

• Consistent R&D of

technology to surpass customer needs

• Experienced team with an Innovation forward mindset

• Sustainable solutions that create a high degree of value for our customers

• Strong networks in place

to enable smooth business operations

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

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ESG PRINCIPLES

Highest level of ethical and corporate governance standards, with stringent compliances

Maintaining ecological balance while ensuring business excellence

Harnessing co-products to become raw materials for other products, thus promoting circular economy

Allocation of capital with focus on reducing carbon footprint and promoting energy efficiency

Best-in-class sustainable processes and solutions across our operations and units

Fostering community development and social empowerment

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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OUR ESG DRIVEN APPROACH TO BUSINESS

ENVIRONMENTAL

SOCIAL

GOVERNANCE

• Environment conservation is a key element of our ESG focus.

• Along with sustained economic performance, we believe in the importance of social stewardship.

• We have in place a robust corporate governance framework.

• We strive to go beyond

compliance to address the various risks that threaten the natural eco-system.

• We are cognisant of the

importance of sustainable sourcing as a key driver of our environmental sustainability journey.

•

It is our continuous endeavour to strengthen our social relationships, including those with our customers, employees and the communities around our operations, to make a positive difference to their lives.

• The framework is centred around the principles of integrity, transparency, fairness, responsibility and ethics.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

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5-YEAR HIGHLIGHTS

Well Diversified and Growing Revenues

Progressively improving profitability

Strong balance sheet position

Consistent focus on returns

• •

FY 19-23 Gross Revenue CAGR 19.0% Rising revenue contribution from non-sugar business from 21% to 34% during FY 2019-23

FY 19-23 PBIT CAGR 17.5% Sugar contribution progressively reducing; from 66% in FY 2020 to 49% in FY 2023

Improved leverage and cost of funds over the 5-year period ICRA reaffirmed Long Term Credit Rating of AA (Stable) in Mar 2023

Long history of returning cash through combination of dividend and buybacks In FY 23, Buyback of ₹ 800 crore and Final Dividend of 325% per equity share distributed

FY 23 – a year of many milestones

Record sugarcane crush, record turnover across all businesses

• • Healthy financial and operational metrics •

Buyback of ₹ 800 crore following monetisation of Triveni Turbine Limited stake

FY 23 has further solidified our long-term history of financial & operational excellence

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

WELL DIVERSIFIED AND GROWING REVENUE BASE

FY 19-23 Revenue CAGR 19.0%

Rising non-sugar contribution from 21% to 34% during FY 2019-23

Revenue from Operations (Gross)*

Segment-wise Contribution to Revenue from Operations#

₹ Crore

6,310

2% 8%

2% 6%

11%

4,437

4,703

4,694

3,152

79%

3% 6%

21%

66%

16%

71%

FY 19

FY 20

FY 21

FY 22

FY 23

FY 19

FY 20

FY 21

FY 22

FY 23

Sugar

Alcohol

Power Transmission

Water

Others

Revenue growth of 19.0% p.a. during FY 2019-2023 with increasing contribution from non-sugar businesses

Note: * Revenue from Operations (Gross) include Excise duty of ` 693.26 crore in FY 23, ` 403.10 crore in FY 22 and ` 29.18 crore in FY 21 on account of IMIL sales # Percentages calculated on Net Revenue from Operations excluding aforesaid excise duty. Intersegmental revenue adjusted from Sugar as these are largely due to sale of sugar by-products

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

PROGRESSIVELY INCREASING PROFITABILITY WITH HEALTHY CONTRIBUTION FROM NON-SUGAR BUSINESSES

FY 19-23 PBIT CAGR 17.5%

Sugar contribution progressively reducing; 49% in FY 2023

Profit Before Interest and Tax (PBIT)

Segment-wise PBIT Contribution

₹ Crore

576

603

510

505

316

11%

38%

49%

4% 9%

21%

5% 8% 19%

66%

69%

5% 10%

24%

61%

13%

35%

49%

FY 19

FY 20

FY 21

FY 22

FY 23

FY 19

Sugar

FY 20

Alcohol

FY 21

FY 22

Power Transmission

FY 23

Water

PBIT growth of 17.5% p.a. during FY 2019-2023

Note: In FY 19, distillery profitability was higher due to increase in operating days and higher capacity utilisation which resulted in higher production by 80% and corresponding increase in sales volume. The higher profitability was also contributed by lower raw material prices.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

STRONG BALANCE SHEET POSITION

Total Consolidated Debt (₹ Crore)

Total Consolidated Debt To Equity (x times)

1,725.9

1,558.2

1,568.0

994.0

913.8

1.51

1.16

0.64

0.82

FY 19

FY 20

FY 21

FY 22

FY 23

FY 19

FY 20

FY 21

FY 22

Average Cost of Debt (Standalone)

Long-term credit rating

0.32

FY 23

7.9%

6.3%

6.1%

5.0%

5.1%

ICRA AA- (Stable)

ICRA AA (Stable) *

FY 19

FY 20

FY 21

FY 22

FY 23

FY 19

FY 20

FY 21

FY 22

FY 23

Note: Lower debt to equity in FY 23 due to substantial exceptional income during the year

Note: *Upgraded to ICRA AA- (Positive) on April 6, 2021 and further upgraded to ICRA AA (Stable) on November 23, 2021. Reaffirmed on March 24, 2023

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

CREATING SHAREHOLDER VALUE

Cash Generation during FY 19-23

₹ 3581 crore

Capital Expenditure*

₹ 929 crore (26% of cash generation)

Dividends & Buybacks (incl. taxes)

Funds Retained for Working Capital

₹ 1,415 crore (40% of cash generation)

₹ 1,237 crore (34% of cash generation)

Healthy mix of investments in business for future growth and returns to shareholders

Note: Based on Standalone Statement of Cash Flows from FY 19 to FY 23 *Capital Expenditure: Purchase of property, plant and equipment and intangible assets, net of term loans availed/paid

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

ENHANCING SHAREHOLDER RETURNS THROUGH COMBINATION OF BUYBACKS & DIVIDENDS

Buyback of Shares

Dividend

Dividend Payout Ratio (%)

800

₹ Crore

100

18.1

27.3

42.3

78.6

71.1

21%

17%

15%

10%

FY 20

FY 21

FY 23

FY 19

FY 20

FY 21

FY 22

FY 23

FY 19

FY 20

FY 21

FY 22

FY 23

Past history of returning cash through combination of dividend and buybacks In FY 23, Buyback of ₹ 800 crore and Final Dividend of 325% per equity share distributed

Dividend Policy: Payout ratio of the dividend is in the range of 15-25% of the normal business income after deduction of tax

Note: The Company completed buyback of ₹ 100 crores, ₹ 65 crores and ₹ 800 crores in August 2019, August 2020 and February 2023 respectively. Buybacks under FY 20 and FY 21 were announced in preceding year. Dividend and buyback amounts are excluding taxes

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

Q2/ H1 FY 24: HEALTHY ALL-ROUND PERFORMANCE

Higher Blended Sugar Realisations

Robust Alcohol Sales

Improved Revenue and Profitability in Power Transmission

Water business wins the bid of RUDSICO, Greater Jaipur

•

Blended sugar realisations have increased by 5.8% in H1 FY 24 over corresponding previous period due to high domestic and export realisations

Alcohol sales of 9.4 crore litres, an increase of 11.1% over corresponding previous period resulting in increase in net turnover of Alcohol business by 20.5% during H1 FY 24

• Highest-ever quarterly revenue and profitability in Power Transmission business in Q2 FY 24, driving robust H1 FY 24 growth of 44.8% and 58.2% respectively, over previous corresponding period to reach ₹ 132.55 crore and ₹ 47.26 crore in half-year revenues and segment results

•

During the quarter, Water business has won the bid of RUDSICO Greater Jaipur under Joint Venture agreements with Triveni as the lead partner. The Letter of Intent (LOI) for the same was received in October 2023. Triveni share in the contract is ₹ 355 crore (including O&M, GST, etc.)

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

FINANCIAL HIGHLIGHTS Q2 / H1 FY 24

Q2 FY 24 Q2 FY 23

Change % H1 FY 24

H1 FY 23

Change %

₹ Crore

Revenue from Operations (Gross)

1,617.38

1,471.62

Revenue from Operations (Net of excise duty)

1,408.84

1,345.89

9.9

4.7

3,049.64

2,833.10

2,606.78

2,571.56

7.6

1.4

EBITDA

EBITDA Margin

Share of income from Associates

75.28

57.09

31.9

212.40

180.84

17.5

5.3%

(0.17)

4.2%

7.96

8.1%

(0.20)

7.0%

16.33

Profit Before Tax (PBT) Before Exceptional Items

39.16

24.48

60.0

130.16

113.16

15.0

Exceptional Items- income/(expense)

1,401.20

Profit Before Tax (PBT) After Exceptional Items

39.16

1,425.68

-97.3

130.16

1,514.36

-91.4

Profit After Tax (PAT)

29.11

1,387.76

-97.9

96.72

1,454.21

-93.3

Other Comprehensive Income (Net of Tax)

(0.03)

0.31

0.44

(1.43)

Total Comprehensive Income

29.08

1,388.07

-97.9

97.16

1,452.78

-93.3

EPS (not annualised) (₹/share)

1.33

57.40

-97.7

4.42

60.15

-92.7

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

SUGAR: IMPROVED BLENDED REALISATIONS

Sugar Dispatches (Tonnes)

Average Blended Realization (₹/MT)

-5.9% (Total)

259895

244503

259895

244503

-10.6% (Total)

499435

446550

14531

432019

+6.0%

+5.8%

37568

37426

35447

35373

Q2 FY 23

Q2 FY 24

H1 FY 23

H1 FY 24

Q2 FY 23

Q2 FY 24

H1 FY 23

H1 FY 24

Domestic

Exports

Total

• Lower domestic dispatches due to lower allocations as compared to previous corresponding

period.

• Blended sugar realisations increased by ~6% both in quarter and half year over corresponding

previous periods due to high domestic and export (only in H1 FY 24) realisations

• The sugar inventory as on September 30, 2023 was 18.99 lakh quintals, which is valued at

around ₹ 33.6/kg

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

SUGAR: IMPROVED PROFITABILITY

REVENUE

-7.6%

+0.3%

PBIT

-3.0%

₹ Crore

+11.5%

28.25

27.40

1,007.70 1,011.00

-25.04

-22.15

2,059.39 1,903.33

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

• Lower turnover in the Sugar business of 7.6% in H1 FY 24 due to lower domestic dispatches as

compared to previous corresponding period.

• Additional liability against levy molasses has been provided in Q2 FY 24. Out of the total impact of

₹ 18.2 crore for the full year (net of provisions previously made for estimated increase), impact

of ₹ 12.1 crore has been considered up to September 30, 2023.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

SUGAR: HEALTHY DOMESTIC SUGAR REALISATIONS SUPPORTED BY PREMIUM PRODUCT MIX

Triveni Sugar Realisation (Domestic) (₹/Quintal)

3,900

3,800

3,700

3,600

3,500

3,400

3,300

3,200

3,100

3,000

3,717

3,523

3,685

3,570

3,394

3,340

3,224

3,168

3,696

3,713

3,737

3,593

3,526

3,505

3,478

3,851

3,732

3,568

3,761

3,620

3,639 3,615

3,653

3,527

3,539

3,521

3,511

3,517

3,488

3,513

3,307

3,289

3,276

3,339

3,333

3,327

3,274

3,311

3,263

3,203

3,257

3,267

April

May

June

July

August

September October

November December

January

February

March

•

Improved realisations over last two years; strong realisations in H1 FY 24

FY 2021

FY 2022

FY 2023

FY 2024

• Expect sugar prices to stay firm during the year

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

ALCOHOL: ROBUST SALES VOLUMES

Alcohol Production (KL)

+6.6%

-5.9%

43068

40520

85345

90968

Alcohol Sales (KL)

+11.1%

+12.8%

45709

51545

84611

94002

Q2 FY 23

Q2 FY 24

H1 FY 23

H1 FY 24

Q2 FY 23

Q2 FY 24

H1 FY 23

H1 FY 24

Avg. Realisation (₹/litre)

• Higher alcohol sales due to full year impact and

+0.9%

-0.1%

stabilization of new grain distilleries commissioned in the

58.10

58.63

57.96

57.87

previous period(s)

•

Sale of alcohol produced from sugarcane-based

feedstocks (majorly B-heavy molasses) constitutes 65%

and 64% of the total alcohol sales for Q2 and H1 FY 24

with balance being from grain-based feedstocks

Q2 FY 23

Q2 FY 24

H1 FY 23

H1 FY 24

•

Commenced ethanol production from maize in Q2 FY 24

Note: Q2 / H1 FY 23 realisation includes relief announced by Oil Marketing Companies from June 1, 2022

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

ALCOHOL: IMPROVED TURNOVER

₹ Crore

NET REVENUE*

+20.5%

+19.8%

639.53

530.58

287.16

344.07

PBIT

+4.6%

97.02

101.48

+7.0%

47.18

50.46

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

* Revenue net of excise duty

• Net turnover was boosted by higher alcohol sales, higher Distillers Dried Grain Solubles (DDGS)

sales and higher volumes in the IMIL business

• Ethanol constituted 94% and 93% of alcohol sales during Q2 FY 24 and H1 FY 24 respectively, as

compared to 95% and 95% in the corresponding periods last year

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

POWER TRANSMISSION: CHARTING NEW HIGHS

₹ Crore

REVENUE

+44.8%

PBIT

+58.2%

+28.4%

61.12

78.46

132.55

91.55

+36.8%

21.10

28.86

47.26

29.87

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

•

Increase in H1 FY 24 turnover and profitability (PBIT) by 44.8% and 58.2% respectively driven

by domestic sales across OEMs

• Defence business received an order worth ₹ 18 crore for supply of propulsion gearboxes for

the Fast Patrol Vessels of Indian Guard. This marks the entry of this business in the marine

gearbox segment.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

POWER TRANSMISSION H1 FY 24 ORDER BOOKING UP 36.1% Y-O-Y

Order Booking

+36.1%

Closing Order Book

+14.8%

₹ Crore

+49.4%

89.48

59.90

154.85

113.78

245.16

281.52

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

Q2 / H1 FY 23

Q2 / H1 FY 24

• Growth in order booking during the quarter is driven by growth witnessed across key sectors

such as steel, oil & gas and customer segments such as steam turbines, compressors, pumps

• Outstanding order book as on September 30, 2023 stood at ₹ 281.52 crore including long

duration orders of ₹ 138.94 crore

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

WATER: CLOSING ORDER BOOK REMAINS ROBUST

REVENUE

-5.0%

PBIT

+37.2%

+48.3%

Closing Order Book*

₹ Crore

-9.0%

68.25

62.13

133.51 126.85

6.63

7.02

4.47

9.63

1,579.39

1,291.05

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

Q2 FY 23 Q2 FY 24

H1 FY 23 H1 FY 24

Q2 / H1 FY 23

Q2 / H1 FY 24

• Revenues declined due to delay in execution in certain projects • The business is actively targeting foreign projects wherever it possesses the pre-qualifications

and funding is ensured through multilateral and reputed agencies

• Long duration O&M orders in hand as on September 30, 2023: ₹ 891.95 crore

Note: These 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. *Including long duration orders for Operations & Maintenance (O&M)

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

SUGAR

GLOBAL SUGAR OUTLOOK

• Global Sugar Balance Sheet pointing to deficit : International Sugar Organisation (ISO) forecasts a global sugar deficit of 2.12 million tonnes in SS 2023-24.

• Robust sugarcane crop and sugar production expected in

Brazil: For the 2023-24 season, International reports estimate sugar production (April-March) to be well over 40 million tonnes, which is expected to keep the global trade balanced.

•

International sugar prices at all-time highs: As on October 25, 2023 the NY #11 front month contract was trading at record levels of US 27.8 cents/lb. London #5 prices are also the highest in the last ten years and currently trading at $749.40 per tonne.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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Source:

DOMESTIC SUGAR OUTLOOK

• Healthy acreage and rainfall in Uttar Pradesh: In SS 2023-24, area under sugarcane in Uttar Pradesh is up 3% Y-o-Y and with satisfactory rainfall along with good condition of the crop, yields are expected to improve for the season.

• Lower Production expected in Maharashtra and Karnataka:

However, poor rainfall patterns have led to large cane acreage abandonment in other major sugarcane producing states of Maharashtra and Karnataka, which is likely to result in lower sugarcane output in these states.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

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Source:

OUR SUGAR BUSINESS PROFILE

Strategic Manufacturing Presence

We manufacture

Deoband (District Saharanpur)

Khatauli

(District Muzaffarnagar)

Sabitgarh

(District Bulandshahr)

WESTERN UP

EASTERN UP

CENTRAL UP

Rani Nangal

(District Moradabad)

Refined sugar for high-grade end users

Milak Narayanpur

(District Rampur)

Chandanpur

(District Amroha)

Various grades of pharmaceutical sugar, which can be customised as per user requirements

Ramkola

(District Kushinagar)

We supply to

Multinational soft drink companies

Confectionery manufacturers

Breweries

Pharmaceutical companies

Dairies and ice cream producers

We also supply high-quality crystal sugar from some of our non-refinery units to large institutions, which fetches a premium for the Company.

COMPANY OVERVIEW

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THE TRIVENI USP

• Strategic Location: Presence in Western and Central UP which

has one of the best cane area with high yields and water availability. Strong farmer relations, timely sugarcane payment resulting in high drawl rates and good cane productivity

• Strong recovery: The Company has one of the best recoveries in

the state of Uttar Pradesh

• Product Mix and Price Benefit: Production capacity of ~60% refined sugar, coupled with the high-grade pharmaceutical quality sugar produced, helps secure higher realisations

• Prestigious Customer base: Key supplier to major multinational soft drink companies, leading confectionery manufacturers, breweries, pharmaceutical companies, dairies and leading ice cream producers.

• 335K+ farmer relationships

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

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BUSINESS-WISE UPDATE

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STELLAR SUGAR BUSINESS PERFORMANCE YEAR AFTER YEAR

Area under Sugarcane (Lakh Hectares)

Sugarcane Crushed (LQ)

7 6 . 1

5 1 - 4 1 0 2

7 5 . 1

6 1 - 5 1 0 2

7 6 . 1

7 1 - 6 1 0 2

3 8 . 1

8 1 - 7 1 0 2

4 9 . 1

9 1 - 8 1 0 2

2 9 . 1

0 2 - 9 1 0 2

6 9 . 1

1 2 - 0 2 0 2

Sugar Produced (Lakh Quintals)

1 2 . 5 9

8 1 - 7 1 0 2

3 0 . 4 9

9 1 - 8 1 0 2

7 7 . 0 7

7 1 - 6 1 0 2

2 9 . 0 0 1

0 2 - 9 1 0 2

0 8 . 3 9

1 2 - 0 2 0 2

5 0 . 9 4

5 1 - 4 1 0 2

5 8 . 8 4

6 1 - 5 1 0 2

8 9 . 1

2 2 - 1 2 0 2

5 7 . 8 8

2 2 - 1 2 0 2

6 0 . 2

3 2 - 2 2 0 2

4 3 . 5 9

3 2 - 2 2 0 2

3 1 5

5 1 - 4 1 0 2

2 5 4

6 1 - 5 1 0 2

0 4 6

7 1 - 6 1 0 2

7 3 8

8 1 - 7 1 0 2

8 9 7

9 1 - 8 1 0 2

4 7 8

0 2 - 9 1 0 2

4 5 8

1 4 8

1 2 - 0 2 0 2

2 2 - 1 2 0 2

Gross Recovery (%)

7 5 . 9

5 1 - 4 1 0 2

0 8 . 0 1

6 1 - 5 1 0 2

6 0 . 1 1

7 1 - 6 1 0 2

8 3 . 1 1

8 1 - 7 1 0 2

9 7 . 1 1

9 1 - 8 1 0 2

7 9 . 1 1

0 2 - 9 1 0 2

6 8 . 1 1

1 2 - 0 2 0 2

0 7 . 1 1

2 2 - 1 2 0 2

2 3 9

3 2 - 2 2 0 2

7 4 . 1 1

3 2 - 2 2 0 2

Note: Data for Sugar Seasons; Gross recoveries (after adjustment on account of B-heavy molasses and syrup diversion) Recent crush and recoveries impacted by climatic factors across the state of UP; Triveni amongst the leaders in peer group

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SUGARCANE DEVELOPMENT PROGRAMME

• Significant focus on Yield improvement through various agronomic

interventions (e.g. wide spacing, trench planting, etc.)

• Emphasis on before wheat planting has led to an overall increase in its area,

providing higher time in the field to the spring planted sugarcane

• Active engagement with farmers: Development of very large number of

model demonstration (demo) plots with 40-50% higher yields, for neighbouring farmer visits to understand know-how on yield enhancement activities, which can be replicated in own plots with an objective on yield and thereby income enhancements

• Soil Health Improvement: Application of balanced dosage of fertilizers &

nutrients as per soil analysis reports and recommendations

• Crop Protection from different Pests & Diseases using a structured surveillance programme. Farm implements and mechanization for enhancing inter-cultural operations, etc.

• Various digital initiatives towards sugarcane development programme

COMPANY OVERVIEW

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OUR SUGAR BUSINESS INITIATIVES

Increased our refined sugar production capability from ~40% to ~60% of total sugar production

Efficiency enhancements resulted in reduced process steam consumption, giving a major push to our sustainable growth agenda

How we invested in Sugar business growth in FY 23

Completed the modernisation and debottlenecking of three of our largest sugar units – Khatauli, Deoband and Sabitgarh, to drive enhanced crushing efficiency. This led to a record sugarcane crush for the Company

Sabitgarh unit reported a record pharmaceutical sugar production of nearly 0.03 million tonne as a result of enhancement of production capacity

Expansion in the capacity at Sabitgarh sugar unit by 2000 TCD (from 7000 TCD to 9000 TCD). With the proposed expansion, the total crushing capacity of the Company will stand augmented to 63,000 TCD

Structured Sugarcane Development Programme for varietal substitution to gradually replace the star Co-0238 variety by other high sugared and high yielding sugarcane varieties

Ongoing Activities

Process change to DRP (Refining process) at Milak Narayanpur

Modernisation, debottlenecking & efficiency improvements at various sugar units towards cost optimisation

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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TRIVENI BRANDS: GETTING FUTURE READY

• Triveni sees a bright future for branded sugar in India, set to

grow at double digit CAGRs over the next 5 years

• Tremendous scope to bring to market higher grade and quality

offerings with premiumization trends

• Focus on high quality products under trustworthy brands with an omni channel sales & distribution strategy while maintaining a lean structure

• Triveni Sugar brings to market Premium White Crystal Sugar, High Grade Brown Sugar and SweetLite (A stevia blended product) – all in the premium priced zone

• North India’s largest contract manufacturing business around

private label sugar

• FY 23 revenue of Triveni brands @ ₹ 133 crore

COMPANY OVERVIEW

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ALCOHOL

ALCOHOL SEGMENT DRIVEN BY ETHANOL DEMAND

• Government actively promoting the production

and blending of fuel ethanol with petrol, and has targeted 20% blending under Ethanol Blended Petrol (EBP) Programme by 2025 or EBP20

• To achieve the target of 20% blending by 2025, ~1,000+ crore litres of ethanol will be required. With ~300+ crore litres for other usage, there is need to create capacity of ~1,700 crore litres, assuming plants operate at 80% efficiency.*

Ethanol Demand Drivers

need for renewable fuel for cleaner environment

increasing mobility

reducing trade deficit by lowering foreign exchange outgo

employment generation in rural areas

financial viability of sugar mills

utilising wide array of feedstocks that are surplus in the country like grain, rice, etc.

* Source: May 2023 comments from Food and Consumer Affairs Ministry

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

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SUGARCANE - THE MAINSTAY OF THE ETHANOL BLENDING PROGRAMME • Ethanol from sugarcane route continues to dominate and contributes higher percentage in terms of supplied quantities as compared to contracted quantities.

India Ethanol Scenario

86%

81%

70%

86%

83%

76%

• We believe sugarcane will remain the major contributor to the production of ethanol under EBP20.

• Triveni: Sale of alcohol produced from

grain commenced in FY 23 and accounted for 25% and 36% of total sales volumes in FY 23 and H1 FY 24, with the balance from sugarcane- based feedstocks

30%

19%

14%

24%

17%

14%

Grain - % of Contracted Quantity

Grain - % of Supplied Quantity

Sugarcane - % of Contracted Quantity

Sugarcane - % of Supplied Quantity

ESY 20-21

ESY 21-22

ESY 22-23*

Note: *ESY 22-23 is Dec-22 to Oct-23 i.e. 11 months. Data for ESY 22-23 till October 16, 2023)

COMPANY OVERVIEW

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CONTINUED ETHANOL PRICING IMPROVEMENTS

• Government has been incentivizing the industry through supportive ethanol prices under the EBP Programme

•

Prices were revised for Ethanol Supply Year (ESY) 2022-23, including two revisions in August 2023 for Damaged Food Grains and Maize, following the suspension of Surplus Rice from FCI

• We believe that to achieve the aggressive blending targets more support is needed especially for sugarcane juice/syrup and grain as

feedstocks

India Ethanol Pricing (₹/litre)

70.00

65.00

60.00

55.00

50.00

45.00

40.00

Sugarcane Juice / Sugar / Sugar Syrup

B-Heavy Molasses C-Heavy Molasses

Damaged Food Grain

Surplus Rice sourced from FCI

Maize

ESY 21-22

ESY 22-23

ESY 22-23 (First Revision)

ESY 22-23 (Second Revision)

Note: Ethanol Supply Year (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

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

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OUR ALCOHOL BUSINESS STRENGTHS

• Flexibility of both feedstock (grain/sugarcane based) and

product mix (ethanol/ENA/Rectified Spirit, etc.) to optimize production and profitability based on economics

• High operational efficiencies with continuous focus on the

same to further improve recoveries and reduce supplementary fuel

• Full capacity utilization to maximize production

• High adherence to Environment, Health, Safety and

Sustainability standards

• Modern & Efficient Technology employed to achieve Zero

Liquid Discharge (ZLD)

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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TIMELY AND EFFICIENT INVESTMENTS TO INCREASE DISTILLATION CAPACITIES • Triveni has been at the forefront of setting up distillation capacities in a timely and efficient manner

₹ 100 CRORE

In KLPD

₹ 460 CRORE

1110

• Short timeframe in setting up large scale distilleries utilizing the entire range of established feedstocks has been a key strength

₹ 250 CRORE

320

520

160

320

660

200

400

650

400

FY 21

FY 22

FY 23

Planned

Molasses-based

Grain-based

Dual-feed

Total Capacity

COMPANY OVERVIEW

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FINANCIAL RESULTS Q2 / H1 FY 24

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OUR ALCOHOL BUSINESS INITIATIVES

How we maximised Alcohol potential in FY 23

Scaled up our distillation capacities to 660 KLPD to meet the increased demand for ethanol and meet our production targets for FY 23

Enhanced potential for using grain as feedstock through a dedicated grain facility and a multi-feed distillery

MNP distillery unit was commissioned in time, leading to 100% capacity ramp-up

On time commissioning of the MZN grain distillery, helping to leverage the product flexibility to produce Ethanol as well as superior quality ENA, which was supplied to IMFL manufacturers across U.P. and also utilised for captive consumption

Our ongoing initiatives in Alcohol business

Overall capacity will be further expanded to 1110 KLPD through two new multi- feed distilleries in Rani Nangal and Sabitgarh

Focus on maximising production with different feedstocks be it grain, maize, molasses, etc.

Enhancing various value adding propositions through sale of DDGS, potash- rich fly ash, CO2

Enhancement of sugarcane availability: Higher sugarcane crush will boost availability of sugarcane derived feedstock for distillery operations

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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OUR VALUE ADDED PROPOSITION: DISTILLERS DRIED GRAIN SOLUBLES (DDGS) Facilities at Milak Narayanpur & Muzaffarnagar to help us enhance our value proposition through their partial/full operations on grains

• The by-product of grain-based operations, DDGS, is a protein rich

product derived from grains after converting starch in fermentation with yeast to produce Ethanol

•

It provides a good amount of protein, fibres and other nutrients, and is a food supplement for poultry, cattle feed, livestock, aquatic products, etc.

• With no branded DDGS currently in the market, the potential for boosting our revenues and enabling profitability with high quality DDGS

•

Income from DDGS as a by-product translates to contribution of ₹ 8-12/liter of alcohol leading to significant offset of raw material and conversion cost

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OUR VALUE ADDED PROPOSITION: FLY ASH

• The process of conversion of molasses to ethanol generates spent wash (an effluent) which upon concentration is called Slop, further used as fuel in the Incineration boilers which leads to fly ash generation which is rich in potash

• We supply this fly ash rich in potash for additional

revenues, wherein the customer converts the same to produce Potash derived from Molasses (PDM) and sells as potassic fertilizer as per Fertilizer Control Order.

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OUR VALUE ADDED PROPOSITION: CO2

•

In the fermentation process of alcohol manufacturing, carbon dioxide is generated as a by-product. This carbon dioxide can be captured, purified, liquified and put into cylinders or converted into dry ice.

• The Company has a carbon dioxide capturing unit at its

Sabitgarh distillery on a BOO basis for which we are paid for the raw carbon dioxide to earn additional revenues. Exploring the possibilities of installing 2 more plants in units

• This is an initiative towards Environment, reduction of emission of Green House Gases (GHG). New opportunities on carbon sequestration by capturing CO2 and storing / injecting underground for mineral value are also being explored

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POWER TRANSMISSION

DIVERSE PRODUCT & SOLUTIONS PORTFOLIO

• High power & high speed gears designed for steam

turbines, gas turbines, compressors, pumps, blowers, and other special purpose industry applications

• Niche low speed gearboxes for mini hydel turbines,

steel mills, sugar mills, rubber mixers and extruders, cement mills, thermal plants, plastics etc.

• Marine gearing solutions

• Spares and Aftermarket solutions

• Naval and Defence products

Integrally Geared Compressors & Blowers

Centrifugal Pumps

Centrifugal Blowers

Centrifugal Compressors

Reciprocating Pumps & Compressors

Applications for which gearboxes are supplied

FD & ID Fans

Generators

Low-Speed Industrials

Test Rigs

Marine Propulsion

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

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SERVING A MULTITUDE OF INDUSTRIES

Industries We Serve

Oil & Gas

Refinery & Petrochemical

Chemical & Fertiliser

Sugar

Cement

Rubber & Plastics

Steel

Marine

Power Generation (IPPs)

Note: Sample list

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OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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ENABLING OEMS CONSISTENTLY

>50,000 MW globally installed gears capacity

Steam Turbines

Gas Turbines

Centrifugal Compressors

Reciprocating Compressors

Centrifugal Pumps

Fans and Blowers

Hydel Turbines

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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MULTI-PRONGED STRATEGY IN POWER TRANSMISSION BUSINESS

Pillars of our strategic approach:

• World-class technology

• Automation & Digitalisation

• Associations & tie-ups

• Cost management & efficiencies

COMPANY OVERVIEW

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FINANCIAL RESULTS Q2 / H1 FY 24

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FORAY INTO DEFENCE

Our Defence Portfolio:

• Propulsion Gearboxes and other critical gearboxes

• Critical Turbo and Motor-driven Pumps

• Gas Turbine Generators for auxiliary power

• Steam Turbines to complex Turbo-Auxiliaries

• Propulsion System Integration

• Propulsion Shafting

• Solutions for Steering Systems / Stabilisers

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POWER TRANSMISSION BUSINESS HIGHLIGHTS

• Among the largest engineered to order turbo gear manufacturer

• Largest domestic market share across OEMs & Patronised by

global OEMs across application spectrum like STG/GTG/ Compressor / Pumps / Blower / ID-FD Fans

• One of the few companies globally catering to AGMA & API

standards and supplying gearboxes to hazardous and sub-zero temperatures

• Centred on Operational Excellence: Integrated plant located in

Mysuru, Karnataka with state of the art infrastructure

•

Industry leading Product delivery cycle: Ranging from few weeks to 6 months for full gearboxes

• Strong focus on value engineering, low cost manufacturing, R&D

for new product and expertise in reverse engineering & replacement solutions

• Providing critical technology and engineered solutions on multiple fronts to Indian Navy and Indian Defence industry

COMPANY OVERVIEW

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POWER TRANSMISSION BUSINESS INITIATIVES

Gearing for future growth

Ongoing expansion of power transmission business at cost of ₹ 180 crore for setting up a new multi-modal facility, dedicated to Defence products

Investment in technology and customer acquisition

New bay proposed to be set up along with a large grinder, hobber and other supporting machines & equipment for power transmission and defence products etc. to enhance the capacity from ₹ 250 crore to ₹ 400 crore

Expansion includes establishment of a new bay for a new gear shaft at the existing facility at Mysuru, to expand the total capacity

COMPANY OVERVIEW

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FINANCIAL RESULTS Q2 / H1 FY 24

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POWER TRANSMISSION BUSINESS OUTLOOK

Outlook for the domestic product segment within high speed gears is extremely promising as industrial CapEx in sectors like sugar, distillery, oil & gas, cement, steel is growing and have been supported by policies and robust economic growth

Focus on market share gains in product segment, especially from the international market through greater promotion of our technology and focus on new and existing customer relationships.

In the Defence segment, the business expects increased order booking from key segments of Gas Turbines packaging, gearboxes and special application pumps where the key activities of qualifications and Request For Proposal (RFP) have progressed considerably in the last couple of years

Increasing footprint to capture high-growth opportunities for Aftermarket segment through a combination of own efforts and expanding the agents’ network

Responding to growth opportunities

Setting up of dedicated multi-modal facility for Defence products will also help the business gain confidence of key customers and expand its service offerings

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

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WATER SOLUTIONS

WATER & WASTEWATER OPPORTUNITIES AND THE WAY FORWARD • Global water crisis: Increased demand for water resources, more than 2 billion people globally live in water stressed countries. Situation is getting worse with climate change

• Water is undervalued, and proper incentives are not in place to

use water resources efficiently

•

Indian Government along with State Governments focusing on making country’s water secure

• Surface wastewater discharge norms revised as per National

Green Tribunal (NGT) order and high potential for rehabilitation of existing & new STP’s

• Promulgation & promotion on PAN India Government policies to utilize tertiary treated water from sewage / effluent treatment plants

• Desalination being promoted in coastal regions of Tamil Nadu,

Gujarat and water deficit coastal Regions

COMPANY OVERVIEW

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FINANCIAL RESULTS Q2 / H1 FY 24

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LEADING SOLUTIONS PROVIDER FOR EFFICIENT WATER MANAGEMENT FOR INDUSTRIAL, MUNICIPAL, URBAN APPLICATIONS

We are committed to contributing sustainable solutions that lead to environmental protection with an enhanced quality of life.

Advanced Solutions

Key Highlights

Water Treatment

Water & Wastewater Network Management

Wastewater/Sewage Treatment

Desalination for seawater & brackish water

• Wide range of innovative water/wastewater treatment solutions

across all major water usage segments Customised, sustainable solutions/services

• • Modes of Operation:

• • •

End-to-end Turnkey / EPC offerings Build, Own, Operate, Transfer (BOOT) model Private Public Partnership (PPP)

• •

Efficient total water management across the water cycle Track record of executing some of the largest projects in India

12,000+ Million Litres Per Day (MLD) Water treated

1,200+ installations successfully operating across India

Recycle & Zero Liquid Discharge

Operations & Maintenance

More than 100 projects in municipal and industrial areas successfully executed

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

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SERVING A WIDE VARIETY OF INDUSTRIES

Municipal WTP/STP

CETP/ZLD for Industrial clusters

Refineries

Steel Plants

Non-ferrous Industries

Oil & Gas

Thermal Power Plants

Hydro Power Plant

Sugar & Allied Industries

Coal

Sand Processing Plant

Desalination

Note: Sample list

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

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WATER BUSINESS GROWTH DRIVERS

Government investments in EPC and HAM projects

Increasing domestic opportunities in recycle, reuse, zero liquid discharge business

Emerging opportunities in sewage recycling

Attractive municipal business opportunities in many key states

More PPP/HAM opportunities arising from Water Boards and ULBs

Identifying growth potential

Focus of NMCG (National Mission for Clean Ganga) on Ganga tributaries to trigger opportunities in STP

Schemes like AMRUT, JJM driving growth

Exim Bank of India’s funding in Asia & Africa

COMPANY OVERVIEW

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FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

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SELECT ON GOING WATER & WASTEWATER PROJECTS

• Awarded the Pali HAM/PPP project

• Awarded an EPC Project in Bangladesh under a joint-venture with

a local company

• Awarded the Bhiwadi 6 MLD Zero Liquid Discharge project

• 205 MLD STP (3 Phases) at Kondli based upon new NGT norms for

Delhi Jal Board funded by JICA, under YAP(III) package K3

• 210 MLD WTP at Greater Noida for Greater Noida Industrial

Development Authority

• Water & Sewerage system for 6 Islands in Maldives including RO

for Govt Of Maldives funded by Exim Bank of India

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

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WATER & WASTEWATER DEVELOPMENTS AND THE WAY FORWARD

• After achieving success in Maldives and Bangladesh, Water business is trying to expand activities in overseas markets • Domestic market opportunities are increasing in Recycle &

Reuse of wastewater and water business is equipped to target this market.

• Business is also exploring Public Private Partnership (PPP) opportunities for Sewage Treatment Plant (STP) recycling.

• Municipal business opportunities are looking attractive in many 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.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

60.98%

4.32%

8.47%

20.73%

2.56%

1.93%

1.01%

Promoter Group

Foreign Portfolio Investors Mutual Funds + AIF

Resident Individuals

Corporate Bodies

NRI

Others

Note: For the quarter ending Sep 30, 2023. Others comprise of Clearing members, HUF, Trust, IEPF, Key Managerial Personnel, etc.

COMPANY OVERVIEW

OUR 5-YEAR JOURNEY

FINANCIAL RESULTS Q2 / H1 FY 24

BUSINESS-WISE UPDATE

SHAREHOLDING PATTERN

INVESTORS CONTACT

Surabhi Chandna Triveni Engineering & Industries Ltd. Tel. +91 120 430 8000 Fax : +91 120 431 1010 ir@trivenigroup.com www.trivenigroup.com

Gavin Desa/ Rishab Brar Citigate Dewe Rogerson Tel: +91 22 66451237/1235 gavin@cdr-india.com / rishab@cdr-india.com

SAFE HARBOUR/LEGAL DISCLAIMER

Some of the statements in this presentation that are not historical facts are forward looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate.

These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.

Further, this presentation may make references to reports and publications available in the public domain. Triveni Engineering & Industries Ltd. makes no representation as to their accuracy or that the company subscribes to those views / findings.

COMMONLY USED TERMS

Term

AGMA

Alcohol

API

ASP

Bagasse

Definition

American Gear Manufacturers Association (AGMA)

Colourless liquid produced by natural fermentation of sugary feedstocks and used as an intoxicating constituent of

potable spirits, industrial solvent and as fuel

American Petroleum Institute

Activated Sludge Process

Cane fibre leaving cane mill after extraction of juice

B-Heavy Molasses

These are molasses produced from 2nd stage (B-massecuite) pan boiling during production of sugar

BNR

BOD

Biological Nutrient Removal

Biological oxygen demand

Cane development

Activities for improving quality and quantity of cane in sugarcane command area of factory

Cane yield

Cane produced per acre/hectare

C-Heavy Molasses

COD

Co-product

Also known as final molasses, blackstrap molasses, treacle. This is the end by-product of the processing in the

sugar factory.

Chemical oxygen demand

Products of the sugar industry essentially e.g. bagasse, press cake, molasses, simultaneously produced during

sugar production

Co-generation

Production of electricity and usable steam in same plant

CSR

DDGS

Corporate Social Responsibility

Distillers Dried Grain Solubles. A co-product of a grain ethanol facility which contains higher protein and is sold as

an animal feed, poultry and swine feed.

COMMONLY USED TERMS

Term

Definition

Denatured spirit

Ethanol that has additives to make it poisonous, bad tasting, foul smelling or nauseating to discourage its

recreational consumption.

Distillation

Process of separating alcohol from water via evaporation and condensation

EBP

EHS

ENA

Fly ash

Ethanol Blended Petrol. The EBP programme seeks to achieve blending of ethanol with petrol with a view to

reducing pollution, conserve foreign exchange and increase value addition in the sugar industry enabling them to

clear cane price arrears of farmers.

Environment, Health & Safety

Extra Neutral Alcohol. Colourless food grade alcohol without any impurity, used in alcoholic beverages.

Fine solid particles of ashes, dust and soot carried out from burning fuel

Fuel grade ethanol or fuel ethanol Ethanol used for blending in low concentration in gasoline

Grain distillery

GTG

ID-FD

IMIL

MBBR

MEE

MoEF & CC

Molasses

Distillery producing Ethanol / Alcohol using grain as a feedstock. Starch available in grain is converted with

enzymes to sugar and fermented with yeast to produce grain alcohol

Gas Turbine Generator

Induced Draft/Forced Draft

Indian Made Indian Liquor

Moving Bed Biofilm Reactor

Multi Effect Evaporator

Ministry of Environment, Forests & Climate Change

A co-product/by-product of sugar manufacturing process used mainly for ethanol production

COMMONLY USED TERMS

Term

Definition

Multi-feed distillery

NGT

O&M

OMC

Distillery producing Ethanol / Alcohol using various feedstocks such as sugarcane juice/syrup, grains, B-Heavy

molasses, C-Heavy molasses

National Green Tribunal

Operations & Maintenance

Oil Marketing Companies

Potable alcohol

Highly purified alcohol with very neutral odor and taste

Rectified spirit

SBR

SLOP

Steam cycle

STG

STP

Sugarcane juice

Sugarcane syrup

WTP

ZLD

Alcohol of 95% concentration which is used for Industrial purpose as well as for manufacturing Potable Alcohol &

Ethanol

Reverse Osmosis

Sequencing Batch Reactor

Slop is the concentrated spent-wash which is an effluent generated during alcohol manufacturing in distilleries,

which is used as fuel in incineration boilers

A process in which steam is generated in a boiler, produced steam is expanded through a turbine to extract

mechanical work, steam is condensed into water and water is feed to the boiler to produce steam.

Steam Turbine Generator

Sewage Treatment Plant

Juice obtained from sugarcane after crushing it in mills

Sugar solutions of higher concentration obtained after evaporating water of juice in evaporators

Water Treatment Plant

Zero Liquid Discharge

THANK YOU

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