Triveni Engineering & Industries Limited has informed the Exchange about Investor Presentation
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P/VIlR/ ENGINEERING & INDUSTRIES LTD.
~ +91 1204308000 ••• +91 1204311010/11 $ www.trivenigroup.com
REF TElL SE BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai - 400 001 Thru: BSE Listing Centre
e ruary,
D t 4th F b
a e: 2025 National Stock Exchange of India Limited Exchange Plaza, C-I, Block G Bandra Kurla Complex, Bandra (E) Murnbai - 400051 Thru: NEAPS
Scrip Code: 532356 Sub: Investors' brief for Q3 & 9M FY25 ended December 31,2024
S_ymbol: TRIVENI
Dear Sirs,
We send herewith a copy of investors' brief on the performance of the Company for the ended December 31, 2024 for your information. The Q3 & 9M FY25 (consolidated) 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
Enel: As above
Corporate Office: 8th Floor, Express Trade Towers, Plot 15 & 16, Sector 16-A, Noida, Uttar Pradesh - 201301, India. Registered Office: "'-44, Hosiery Complex, Phase-II Extension, Noida-201 305, Uttar Pradesh. CIN No.: L 15421 UP1932PLC02217 4
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-_ .....•... _ - - ._---
Registered office: A-44, Hosiery Complex, Phase-II Extension, Noida-201 305, Uttar Pradesh, India. Corporate office: Express Trade Towers, 8th floor, 15-16, Sector 16A, Noida 201301, Ph: 0120-4308000, Fax: 0120-4311011 CIN: L15421UP1932PLC022174
For Immediate Release
9M FY 25 Consolidated Results ended Dec 31, 2024 • Revenue from Operations (Net of excise duty) at ₹ 4060.0 crore, an increase of 3.6% • Profit Before Tax at ₹ 69.1 crore • Profit After Tax at ₹ 51.1 crore
Key Highlights:
Sugar businesses:
▪ Subdued sugar prices in Q3 FY 25, however these have firmed up recently, based on estimates of
lower net sugar production to 27 million tonnes in Sugar Season (SS) 2024-25 and announcement
of exports
▪ Trend of initial lower recoveries observed in UP in SS 2024-25 but the crop estimates in Western
UP remain unchanged
▪ Several positive policy measures announced:
•
•
The Government has allowed export of 1 million tonne of sugar in SS 2024-25. Triveni
(including SSEL) has received allocation of 31883 tonnes for sugar exports.
The Department of Food and Public Distribution (DFPD) issued directions for sale of rice in
the open market through Open Market Sale Scheme (Domestic) (OMSS (D)) for the year 2024
-25 where the reserve price of rice sold to distilleries for ethanol production was fixed at
₹2250 per quintal, thus improving the availability of feedstocks at reasonable prices.
•
The Cabinet Committee on Economic Affairs (CCEA) approved revision of ethanol
procurement price for Oil Marketing Companies (OMCs) derived from C-Heavy Molasses
(CHM) for the Ethanol Supply Year (ESY) 2024-25 from ₹ 56.28 to ₹ 57.97 per litre.
Engineering businesses:
• Order booking for Power Transmission and Water business registered strong growth in Q3
FY 25 and 9M FY 25.
• Combined closing order book of ₹ 2356.3 crore for engineering business, an increase of 52.4%
on year-on-year basis and an all-time high for the Company.
Scheme of Arrangement:
• On December 10, 2024, the Board of Directors approved a Composite Scheme of
Arrangement (Scheme) proposing 1) Amalgamation of Sir Shadi Lal Enterprises Limited
(SSEL) with Triveni Engineering & Industries Limited (TEIL). SSEL is a subsidiary of TEIL, in
which TEIL holds a 61.77% stake presently. 2) Transfer and vesting of Power Transmission
1
Business (PTB) Undertaking (as defined in the Scheme) of TEIL to Triveni Power Transmission
Limited (TPTL). TPTL is a wholly owned subsidiary of TEIL presently.
Outcome of Board Meeting:
•
The Board of Directors approved capex of ₹ 60 crore for enhancement in capacity of the
Power Transmission business.
NOIDA, February 4, 2025: Triveni Engineering & Industries Ltd. (‘Triveni’), one of the largest integrated sugar
& ethanol manufacturers & engineered-to-order turbo gearbox manufacturers in the country and a leading
player in water and wastewater management business, today announced its financial results for the third
quarter & nine months ended Dec 31, 2024 (Q3 & 9M FY 25). The Company has prepared the financial results
based on the Indian Accounting Standards (Ind AS) and as in the past, has been publishing and analyzing results
on a consolidated basis.
PERFORMANCE OVERVIEW: Q3/9M FY 25 (Consolidated Results)
In ₹ crore
Revenue from Operations (Gross) Revenue from Operations (Net of excise duty) EBITDA EBITDA Margin Share of income from Joint Venture Profit Before Tax (PBT) Profit After Tax (PAT) Other Comprehensive Income (Net of Tax) Total Comprehensive Income EPS (not annualised) (₹/share)
Q3 FY 25 Q3 FY 24
Change
%
9M FY 25
9M FY 24
1,600.3
1,553.6
3.0
4,882.7
4,603.3
1,268.3
1,311.2
-3.3
4,060.0
3,918.0
101.0 8.0%
0.1
57.6 42.6
(1.6)
214.9 16.4%
(0.2)
182.1 137.4
0.0
-53.0
-68.4 -69.0
216.4 5.3%
0.1
69.1 51.1
(6.3)
Change
%
6.1
3.6
-49.4
-77.9 -78.2
-80.9 -78.1
427.3 10.9%
(0.4)
312.3 234.1
0.5
234.6 10.70
41.0 1.94 • Net turnover declined by 3.3% in Q3 FY 25 and increased by 3.6% in 9M FY 25:
137.4 6.28
-70.2 -69.1
44.9 2.34
o Sugar revenues declined by 9.5% in Q3 FY 25 and 1.4% in 9M FY 25 due to lower sugar sales volume and
lower realization price in Q3 FY 25.
o Alcohol revenues (net of excise duty) grew by 4.4% in Q3 FY 25 and 7.9% in 9M FY 25 mainly due to
improved realisations driven by higher proportion of grain operations.
o Power Transmission business turnover grew by 3.3% and 13.1% in Q3 and 9M FY 25 respectively. The
muted growth in Q3 was due to shifting of some large orders to the next quarter.
o Water business turnover declined by 7.6% and 22.1% in Q3 FY 25 and 9M FY 25 respectively due to
lower order booking in previous quarters along with challenges in certain projects under execution.
• The profitability was impacted in Q3 FY 25 and 9M FY 25 due to:
o Lower contribution margins as subdued sugar prices could not fully offset higher cost of sugar (due to
increase in sugarcane price) produced in the preceding season SS 2023-24.
2
o Lower initial recoveries in the ongoing SS 2024-25 which resulted in inventory write down in view of
high cost of production. It is expected to moderate in the remaining period of the season.
o Consolidation of the sugar results (losses) of the subsidiary, Sir Shadi Lal Enterprises Ltd (SSEL), which
were impacted due to lower production in the SS 2023-24 and extensive repairs carried out. It includes
loss of ₹ 13.3 crore and ₹ 21.0 crore in Q3 FY 25 and 9M FY 25 respectively, from June 21, 2024 i.e. for
the period post becoming a subsidiary of the Company.
o Lower profitability of Alcohol business due to:
a) Lower sales volume of high margin ethanol produced from molasses in Q3 FY 25 and 9M FY 25 due
to shortage of molasses-based feedstock resulting from the policy decision of GoI restricting
diversion of sugar to B-Heavy Molasses (BHM) and sugarcane juice in the SS 2023-24. Apart from
lower contribution, it also led to non-recovery of fixed expenses during the period the distilleries
remained closed due to shortage of feedstocks.
b) High margin FCI rice as a feedstock was substituted by maize in July 2023, consequent to a policy
decision to stop supplies of FCI rice for the production of ethanol. Thus, there was a higher
proportion of low margin maize operation in the overall grain operations – 97% in Q3 FY 25 and
89% in 9M FY 25.
c) Consolidation of loss of ₹ 2.8 crore and ₹ 5.8 crore in Q3 FY 25 and 9M FY 25 pertaining to distillery
operations of the subsidiary SSEL.
o The profitability of Power Transmission business increased by 9% in 9M FY 25 but declined by 10.6% in
Q3 FY 25 mainly due to increase in infrastructure expenses as required for the proposed increased
capacity.
o Profitability of Water business improved in Q3 FY 25 and 9M FY 25 by 67.3% and 24.5% respectively
due to reversal of provisions made in the earlier years, upon receipt of favourable arbitration award.
The net debt, after considering operations surplus funds held as fixed deposits, on a standalone basis as on
December 31, 2024 increased to ₹ 753.9 crore as compared to ₹ 145.5 crore as on December 31, 2023.
Standalone debt at the end of the period under review, comprises term loans of ₹ 225.7 crore, almost all such
loans are with interest subvention. On a consolidated basis, the net debt after considering surplus funds held is
at ₹ 960.4 crore as on December 31, 2024 as compared to ₹ 233.9 crore as on December 31, 2023, including
₹126.3 crore pertaining to the subsidiary SSEL. Overall average cost of funds (standalone) is at 5.6% during Q3
FY 25 as against 5.3% 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 profitability of the Company during the nine-month ended December 31, 2024 was subdued, mainly
impacted by lower margins in Sugar and Alcohol businesses. Initial recovery trends in the ongoing sugar season
are on the lower side due to inclement weather and inherent degeneration in Co0238 variety of sugarcane. We
are intensifying our efforts to reduce the proportion of sugarcane variety Co0238 from 50-55% in the current
3
season to 30-35% in the next season. Engineering businesses reported a combined closing order book of ₹ 2356.3
crore, which increased by 52.4% on year-on-year basis and reached an all-time high for the Company.
On the sugar realisation and profitability front, we believe the recent announcement by the Government
permitting sugar exports of 1 million tonne and a favourable domestic sugar balance sheet, should lead to
improvement from current levels and for which early signs are already visible. The industry also keenly awaits
revision to Minimum Selling Price (MSP) of Sugar which is vital for the sustainability of the industry. The MSP
has remained unchanged since 2019, while input costs, particularly the Sugarcane Price (FRP and SAP), have
risen significantly.
In the Alcohol business, we welcome the Government’s announcements pertaining to 1) procurement of rice
through Open Market Sale Scheme (Domestic) (OMSS (D)) by distilleries for ethanol production at a fixed price
of ₹ 2250/quintal, for the year 2024-25; 2) revision of ethanol price derived from C-Heavy Molasses (CHM) for
the Ethanol Supply Year 2024-25 from ₹ 56.28 per litre to ₹ 57.97 per litre. Both these announcements are
positive steps but more needs to be done in terms of ethanol price to make the grain operations viable for
existing and future capacities to achieve Ethanol Blended Petrol (EBP) Programme on a sustainable basis.
In our Engineering businesses, the Power Transmission business continues to progress well with healthy demand
from traditional segments and markets while making strides with new customers especially in global markets
along with diversification of its solutions portfolio. In the Water business, we continue to selectively focus on
projects with healthy returns, both in domestic and international markets. Water business has participated in
many tenders and expects to receive orders of substantial value.
In December 2024, the Company announced the Scheme for amalgamation with SSEL and demerger of the
Power Transmission business, which is expected to enhance value discovery and operational efficiencies. This
development reflects an ongoing commitment to delivering sustainable growth and long-term returns to our
stakeholders.”
4
Q3/9M FY 25: 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 eight sugar units located in the state
of Uttar Pradesh of which seven sugar units are FSSC 22000 certified.
Performance
Triveni:
Sugar Season 2024-25
Sugar Season 2023-24
Change (%)
Oct - Dec 2024
3.2 9.1 286227
Oct - Dec 2023
3.3 9.8 324959
-5.5 -6.9 -11.9
Sugar Season 2024-25
Oct - Dec 2024
0.2 8.8 14867
Sugar Season 2024-25
Sugar Season 2023-24
Change (%)
Oct - Dec 2024
3.4 9.1 301094
Oct - Dec 2023
3.3 9.8 324959
3.0 -7.0 -7.3
Sugarcane Crush (Million Tonnes) Net Recovery (%) Sugar Production (Tonnes)
SSEL:
Sugarcane Crush (Million Tonnes) Net Recovery (%) Sugar Production (Tonnes)
Consolidated:
Sugarcane Crush (Million Tonnes) Net Recovery (%) Sugar Production (Tonnes)
Triveni:
Q3 FY 25
Q3 FY 24
Change %
9M FY 25
9M FY 24
Change %
Sugar Dispatches (Tonnes)
- Domestic - Exports - Total
Average Blended Realisation (₹/MT)* Revenue (₹ crore) PBIT (₹ crore)
189109 - 189109 38907 874.1 55.2
*including export realisations as applicable
210861 - 210861 39524 1027.0 119.9
5
-10.3
-10.3 -1.6 -14.9 -53.9
653458 - 653458 38849 2816.9 63.9
642880 14531 657411 38099 2930.4 147.3
1.6
-0.6 2.0 -3.9 -56.6
SSEL:
Sugar Dispatches (Tonnes)
- Domestic
Average Blended Realisation (₹/MT)
Revenue (₹ crore) PBIT (₹ crore)
Consolidated:
Sugar Dispatches (Tonnes)
Q3 FY 25
9M FY 25
13619
36874
55.4 -13.3
17504
37182
71.3 -21.0
Q3 FY 25
Q3 FY 24
Change %
9M FY 25
9M FY 24
Change %
- Domestic - Exports - Total
202728 0 202728 38770 929.5 41.83 *including export realisations as applicable
Average Blended Realisation (₹/MT)* Revenue (₹ crore) PBIT (₹ crore)
210861 - 210861 39524 1027.0 119.9
-3.9 0
-3.9 -1.9 -9.5 -65.1
670962 0 670962 38806 2888.3 42.9
642880 14531 657411 38099 2930.4 147.3
4.4 0 2.1 1.9 -1.4 -70.9
Note: Consolidated includes SSEL for the period from June 21, 2024 i.e. for the period post becoming a subsidiary of
the Company and resultantly, the figures for the current periods are not comparable with previous periods.
• SS 2024-25 had a delayed start relative to SS 2023-24, for the Company.
•
•
Lower contribution margins as subdued sugar realisations could not fully offset higher cost of sugar (due
to increase in sugarcane price) produced in the preceding season SS 2023-24.
Lower initial recoveries in the ongoing SS 2024-25 which resulted in inventory write down in view of high
cost of production. It is expected to moderate in the remaining period of the season.
• Sugar Production pertaining to SS 2023-24 during the current year 2024-25 was much lower in view of early
closure of SS 2023-24. It has resulted in higher charge of off-season expenses in 9M FY 25 by ₹ 20.5 crore.
• The results of the subsidiary, Sir Shadi Lal Enterprises Ltd (SSEL), which were impacted due to lower
production in the SS 2023-24 and extensive repairs carried out. SSEL unit is now operating consistently at
full capacity including the quarter under review.
• The sugar inventory as on December 31, 2024 was 29.46 lakh quintals, which is valued at ₹ 38.8/kg
• Co-generation operations (including incidental co-generation) achieved external sales of ₹ 26 crore during
9M FY 25 as against ₹ 30.6 crore in 9M FY 24, a decline of 15%.
Industry Scenario – Domestic
•
Lower Sugar Production: As of January 31, 2025, sugar production in India has seen a notable decline, with
the total production falling to 16.5 million tonnes this season, down 12% from 18.8 million tonnes during
the same period last season.
6
• Exports in SS 2024-25: On January 20, 2025 the Government announced decision to allocate export quota
of 1 million tonne of sugar for Sugar Season (SS) 2024-25. Triveni (including SSEL) has received allocation of
31883 tonnes as its export quota.
• Sugar balance sheet for Sugar Season (SS) 2024-25: With an estimated opening balance as on October 1,
2024 of around 8.4 million tonnes, sugar production of around 27 million tonnes, domestic sales of around
28 million tonnes, exports of around 1 million tonne, the closing stock is expected above 6.4 million tonnes.
This is after considering diversion of about 4.0 million tonnes of sugar equivalent into ethanol.
Industry Scenario – International
• Global Sugar Balance Sheet pointing to deficit: As per international reports, Global Sugar Balance Sheet for
2024-25 shifted from balanced last month to a deficit of 721,000 tonnes due to downward revision in global
production. For 2025-26, the deficit decreased by 514,000 tonnes.
•
Lower Production in key export countries: CS Brazil’s mills have processed around 614 million tonnes of
sugarcane till mid-December, down by 4.75% y-o-y. This yielded around 39.78 million tonnes of sugar, a
decrease of 5.42% over last year, according to UNICA data. This coupled with lower production in India, has
pushed the Global Sugar balance to a deficit.
•
International sugar prices: International sugar prices recently hit a low of US 17.79 cents/lb for NY #11,
while London #5 prices dropped to $466.4 per tonne on January 21, 2025. However, expectation of tighter
global stocks has led to a recent rally and as on January 29, 2025, the NY #11 front month contract was
trading at US 19.3 cents/lb while London #5 was trading at $516.4 per tonne.
720
680
640
600
560
520
480
440
400
NY#11 & London#5 Price Trend
Post announcement of Indian sugar exports
26 25 24 23 22 21 20 19 18 17 16 15 14 13
n a J - 1
n a J - 6 1
n a J - 1 3
b e F - 5 1
r a M - 1
r a M - 6 1
r a M - 1 3
r p A - 5 1
r p A - 0 3
y a M - 5 1
y a M - 0 3
n u J - 4 1
n u J - 9 2
l
u J - 4 1
l
u J - 9 2
g u A - 3 1
g u A - 8 2
p e S - 2 1
p e S - 7 2
t c O - 2 1
t c O - 7 2
v o N - 1 1
v o N - 6 2
c e D - 1 1
c e D - 6 2
n a J - 0 1
n a J - 5 2
London #5
NY #11
Note: London #5 on left hand side (LHS) in $/tonne; NY #11 on right hand side (RHS) in US cents/lb
7
Alcohol (Distillery) business
The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – 2 facilities, Sabitgarh (SBT),
Milak Narayanpur (MNP), Rani Nangal (RNG) and Shamli in Uttar Pradesh. 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 as well as grain-based feedstocks. 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) and Indian Made Foreign Liquor (IMFL) at its
MZN facility.
Performance
Triveni:
Operational details Production (KL) Sales (KL) Avg. Realisation (₹/ ltr) IMIL Sales (Lakh Cases)
Financial details Gross Revenue (₹ crore) Revenue Net of Excise Duty (₹ crore) PBIT (₹ crore)
Consolidated:
Operational details Production (KL) Sales (KL) Avg. Realisation (₹/ ltr) IMIL Sales (Lakh Cases)
Financial details Gross Revenue (₹ crore) Revenue Net of Excise Duty (₹ crore) PBIT (₹ crore)
Q3 FY 25 Q3 FY 24
Change %
9M FY 25
9M FY 24
Change %
42492 42505 62.3
16.4
652.9 320.9 5.7
44313 43828 59.1 11.7
549.7 307.3 37.4
-4.1 -3.0 5.5
40.3
18.8 4.4 -84.9
136351 138312 62.5
40.9
1838.3 1015.6 22.1
135281 137830 58.3
33.0
1632.1 946.8 138.9
0.8 0.4 7.3
24.1
12.6 7.3 -84.1
Q3 FY 25 Q3 FY 24
Change %
9M FY 25
9M FY 24
Change %
42492 42505 62.3 16.4
652.8 320.9 2.8
44313 43828 59.1 11.68
549.7 307.3 37.4
-4.1 -3.0 5.5 40.3
18.8 4.4 -92.4
136351 139312 62.5 40.9
1844.7 1021.9 16.3
135281 137830 58.3
32.98
1632.1 946.8 138.9
0.8 1.1 7.3 24.1
13 7.9 -88.2
Note: Consolidated includes SSEL for the period from June 21, 2024 i.e. for the period post becoming a subsidiary of
the Company and resultantly, the figures for the current periods are not comparable with previous periods.
• The profitability of the Alcohol business was adversely affected in 9M FY 25 due to:
a) Lower sales volume of high margin ethanol produced from molasses in Q3 FY 25 and 9M FY 25 due to
shortage of molasses-based feedstock resulting from the policy decision of GoI restricting diversion of
sugar to B-Heavy Molasses (BHM) and sugarcane juice in the SS 2023-24. Apart from lower contribution,
8
it also led to non-recovery of fixed expenses during the period the distilleries remained closed due to
shortage of feedstocks.
b) High margin FCI rice as a feedstock was substituted by maize in July 2023, consequent to a policy
decision to stop supplies of FCI rice for the production of ethanol. Thus, there was a higher proportion
of low margin maize operation in the overall grain operations – 97% in Q3 FY 25 and 89% in 9M FY 25.
c) Consolidation of loss of ₹ 2.8 crore and ₹ 5.8 crore in Q3 FY 25 and 9M FY 25 pertaining to distillery
operations of the subsidiary SSEL.
• Alcohol from molasses-based feedstocks formed 48% and 49% of total sales in Q3 FY 25 and 9M FY 25 as
against 73% and 67% in the corresponding periods of previous year. These primarily consist of relatively
high-margin ethanol. On the other hand, the sales volume of low margin ethanol produced from maize
operations increased substantially.
• Ethanol constituted 89% and 91% of alcohol sales during Q3 FY 25 and 9M FY 25, as compared to 92% and
93% in corresponding previous periods, respectively.
Domestic Industry Scenario
• For Ethanol Supply Year (ESY) 2024-25 (Nov-Oct), Oil Marketing Companies (OMCs) have executed contracts
for 930 crore litres as compared to supplied quantities of 672 crore litres in ESY 2023-24, representing a
~38% y-o-y increase.
• The proportion of ethanol from grain-based feedstocks contracted in current ESY tender is 64% of which
maize itself is 52% which is higher than ethanol from all sugarcane-based feedstocks put together.
• The achieved blending percentage in ESY 2024-25 as of December 31, 2024, stood at 16.4%, while blending
percentage for the month of December 2024 stood at 18.2%.
• On January 17, 2025, the Department of Food and Public Distribution (DFPD) issued directions for sale of
rice in the open market through Open Market Sale Scheme (Domestic) (OMSS (D)) for the year 2024 -25
where the reserve price of rice sold to distilleries for ethanol production was fixed at ₹2250 per quintal,
thus improving the availability of feedstocks at reasonable prices.
• On January 29, 2025, the Cabinet Committee on Economic Affairs (CCEA) approved revision of ethanol
procurement price for Public Sector Oil Marketing Companies (OMCs) for the Ethanol Supply Year (ESY)
2024-25 under the Ethanol Blended Petrol (EBP) Programme of the Government of India. Accordingly, the
administered ex-mill price of ethanol for the EBP Programme derived from C Heavy Molasses (CHM) for the
ESY 2024-25 has been fixed at ₹ 57.97 per litre from ₹ 56.28 per litre.
Power Transmission Business
Triveni Power Transmission Business (PTB) based at Mysuru involves manufacturing of high-speed gears and
gearboxes up to 70MW capacity with speeds of 70,000 rpm and Defence products and solutions for the Indian
Navy. This business was founded in 1976 to meet the increasing demand for high-speed gears for Steam Turbine
Generator (STG) applications. Today, this business is synonymous with cutting-edge technology, knowledge,
and expertise, covering installations in 80+ countries across a wide range of applications. The business has
9
extensive expertise in the design and development of all sorts of gears and gearboxes, as well as a modern,
globally benchmarked manufacturing facility. PTB has grown to become one of the leading turbo gears
manufacturing companies in India with over 45 years of track record and a rich history. It has carved a niche for
itself by being ubiquitous across industry segments and application spectrums.
Performance
Q3 FY 25
Q3 FY 24
Change %
9M FY 25
9M FY 24
Change %
Revenue (₹ crore) PBIT (₹ crore) Order Booking (₹ crore) Closing Order Book (₹ crore)*
73.4 23.7 105.0 377.1
71.1 26.5 85.6 297.2
3.3 -10.6 23.1 26.9
230.3 80.4 319.7 377.1
203.6 73.7 240.5 297.2
13.1 9.0 32.9 26.9
*including long duration orders
• Revenue growth in Q3 FY 25 was subdued at 3.3% due to shifting of certain large orders to next 1-2
quarters. Revenue growth in 9M FY 25 was relatively higher at 13.1%.
• During Q3 FY 25, defence business received a second order for 42 propulsion gearboxes for Fast Patrol
Vessels (FPVs) from Mazagon Dock Shipbuilders Ltd. (MDL).
• Order booking grew 23.1% during the quarter with some slowdown witnessed in the domestic product
segment.
• Order booking for 9M FY 25 grew at 32.9% to ₹ 319.7 crore driven by both product and aftermarket
segments.
• Overall, the business is witnessing strong growth in exports driven by increased engagement with
customers and receiving qualification orders across product lines.
• The outstanding order book reached an all-time high of ₹ 377.1 crore as on December 31, 2024 including
long duration orders of ₹ 136.6 crore.
Outlook
•
India’s economic growth is likely to continue its momentum with major investments towards
infrastructure. Thus, Steel, Cement, Oil & Gas and other process industries are likely to fuel growth in
addition to India becoming an attractive manufacturing hub for the global majors.
•
•
In addition to the overall economic growth providing growth potential, market share gains and
venturing into new product applications are likely to be the major driver for growth.
International markets offer high potential for aftermarket business as well and especially in retrofitting
of existing installations.
• The Government of India’s continuing thrust on Atmanirbhar Bharat and Make-In-India programme
directly opens plethora of opportunities for indigenisation of imported gearbox installations and expect
this to be growth driver for Aftermarket business as well as Defence.
•
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
10
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
Water Business Group (WBG) of Triveni is one of India’s leading businesses today in the market offering
complete range of Water & Wastewater solutions, through innovative technologies and the latest equipment
range. The business has strong management and innovation skills in handling EPC projects of varying
complexities up to large scale across sectors and regions. It provides turnkey execution and Operations &
Maintenance (O&M) of water and wastewater treatment facilities for both the municipal and industrial sectors.
The business has engineering roots and constantly invests in new technologies to ensure quality with faster
deliveries at an optimised cost for its products & services. The business has carried out successful execution of
more than 100 projects of varying magnitude and complexities across municipal and industrial sectors with
quality and commitment to timely delivery. Cost Management & Efficiencies are in business’ DNA which helps
it to maintain a prominent position in this segment.
Performance
Q3 FY 25
Q3 FY 24
Change %
9M FY 25
9M FY 24
Change %
Revenue (₹ crore) PBIT (₹ crore) Orders Received (₹ crore) Closing Order Book (₹ crore)* * including long duration orders for Operations & Maintenance (O&M)
53.2 6.2 10.2 1248.8
49.1 10.4 142.8 1979.2
-7.6 67.3
58.5
140.2 19.7 604.2 1979.2
180.0 15.8 29.1 1248.8
-22.1 24.5
58.5
• The above results are based on consolidated results including wholly owned SPVs executing (i) Mathura
PPP/HAM Project awarded by UP Jal Nigam, funded by National Mission of Clean Ganga (NMCG) under
Namami Gange Programme and (ii) Pali ZLD Pvt. Ltd.
• Revenues declined due to delay in receipt of new orders and slow execution in certain projects.
• Order booking grew substantially both in Q3 and 9M FY 25 over the previous corresponding periods.
• The outstanding order book as on December 31, 2024 stood at ₹ 1979.2 crore, which includes ₹ 1122.6 crore
towards O&M contracts for a longer period of time.
Outlook
• The business anticipates a surge in business opportunities and new funding is expected to flow from both
Central and State Governments, now post elections including in key focus states.
• Due to significant gap between demand and current availability of water & wastewater treatment plants,
the water sector has a positive outlook and offers significant opportunities.
11
• New opportunities are emerging in recycle, reuse and Zero Liquid Discharge kind of business on EPC as well
as HAM model and wherever industries are available as off-takers for buying treated sewage, this model is
expected to emerge significantly predominantly in thermal power sector.
• The Company is also evaluating various international opportunities and intends to participate in several
tenders in Water & Wastewater treatment projects mostly wherever it possesses pre-qualifications
preferably on its own and funding is assured through multilateral and reputed agencies, etc.
12
Attached: Details to the Announcement and Results Table
About Triveni Engineering & Industries Limited Triveni Engineering & Industries Limited (TEIL) is a diversified industrial conglomerate having core competencies in the areas of sugar, alcohol, power transmission and water. The Company holds the position of one of India's largest integrated sugar manufacturers and one of the largest ethanol manufacturers, while making significant contributions in Power Transmission and in Water & Wastewater treatment solutions. TEIL currently has eight sugar mills in operation at Khatauli, Deoband, Sabitgarh, Shamli (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), Milak Narayanpur (MNP), Rani Nangal (RNG) and Shamli in Uttar Pradesh. 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 the market. The Company also manufactures Indian Made Indian Liquor (IMIL) and Indian Made Foreign Liquor (IMFL).
The Company produces premium quality multi-grade crystal sugar, raw (as per the market/export requirements), refined and pharmaceutical-grade sugar. Seven 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.
The Company is one of leading market players in the engineered-to-order turbo gearbox industry in India. The Power Transmission business has two different business segments – Gears and Defence. 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 major 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 customers 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.
On March 11, 2024, the Company acquired 25.43% equity stake in Sir Shadi Lal Enterprises Limited, (SSEL), followed by further acquisition of additional 36.34% stake on June 20, 2024. Consequently, SSEL has become a subsidiary of the Company with effect from June 20, 2024. The Company currently holds 61.77% equity stake in SSEL. SSEL is engaged in the business of manufacturing sugar, ethanol/alcohol with two manufacturing units in Uttar Pradesh.
13
For further information on the Company, its products and services please visit www.trivenigroup.com
Surabhi Chandna Triveni Engineering & Industries Ltd Ph: +91 120 4308000 E-mail: ir@trivenigroup.com
Gavin Desa/ Rishab Barar CDR India Ph: +91 22 6645 1237 / 1235 E-mail: gavin@cdr-india.com|rishab@cdr-india.com
Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Triveni Engineering & Industries Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
14
TRIVENI ENGINEERING & INDUSTRIES LIMITED Regd. Office: A-44, Hosiery Complex, Phase-Il Extension, Noida, Uttar Pradesh - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201301
CIN: L15421UPI932PLC022174
Statement of Standalone Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2024
Particulars
1 Revenue from operations 2 Other income Total income
3 Expenses
(a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-
progress
(d) Excise duty on sale of goods
(e) Employee benefits expense
(f) Finance costs
(g) Depreciation and amortisation expense
(h) Other expenses
Total expenses
4 Profit/(Ioss) from continuing operations before exceptional items and tax 5 Exceptional items (net) - income/ (expense) 6 Profit/floss) from continuing operations before tax 7 Tax expense
(a) Current tax (b) Deferred tax Total tax expense
8 Profit/(Ioss) from continuing operations after tax 9 Profit/ (loss) from discontinued operations 10 Tax expense of discontinued operations 11 Profit/ (loss) from discontinued operations (after tax) 12 Profit/(Ioss) for the period 13 Other comprehensive income
A (i) Items that will not be reclassified to profit or loss A (ii) Income tax relating to items that will not be reclassified to profit or loss
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
Other comprehensive income for the period, net of tax
14 Total comprehensive income for the period 15 Paid up equity share capital (face value ~ 1/-) 16 Other equity 17 Earnings/ (loss) per share of ~ 1/- each (not annualised)
(a) Basic (in t) (b) Diluted (in ~)
See accompanying notes to the standalone financial results
3 Months ended
9 Months ended
Year ended
31/Deq2024 3OjSep/2024 31/Deq2023 31/Deq2024 31/Deq2023 31/Mar/2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)
(Audited)
(f in crores, except per share data)
1548.00 18.16 1566.16
1728.48 8.37 1736.85
1553.38 17.85 1571.23
4810.11 33.28 4843.39
1389.43 8.14
229.33 2.67
1345.87 17.20
2099.58 19.22
4601.62 33.87 4635.49
2179.60 40.46
6149.14 45.29 6194.43
3968.45 57.09
(533.47)
967.19
(511.37)
943.73
598.67
(426.10)
257.38
242.46
331.98
106.42
6.28
30.44
150.99 1490.21 75.95 - 75.95
16.88 2.38 19.26 56.69 - - - 56.69
91.31
13.18
30.05
164.83 1755.94 (19.09) - (19.09)
(4.33) (0.58\ (4.9i' (14.18\ - - - (14.18)
-
-
- (1.00)
(0.24) (0.76) 55.93 21.89
- (0.20)
(0.06) (0.14) (14.32) 21.89
96.33
4.34
26.16
168.80 1389.79 181.44 - 181.44
39.81 4.66 44.47 136.97 - - - 136.97
-
-
0.06
0.01
0.05 137.02 21.89
822.71
292.90
43.79
89.14
433.86 4744.93 98.46 - 98.46
22.16 2.92 25.08 73.38 - - - 73.38
(5.34)
(0.61)
(1.10)
(0.27)
(5.56) 67.82 21.89
685.32
264.75
31.02
77.18
449.42 4326.42 309.07 - 309.07
69.62 7.75 77.37 231.70 - - - 231.70
-
-
0.65
0.16
0.49 232.19 21.89
931.31
373.33
46.96
104.12
615.28 5670.44 523.99 - 523.99
121.64 10.83 132.47 391.52 - - - 391.52
10.62
1.10
0.83
0.21
10.14 401.66 21.89 2869.51
2.59 2.59
(0.65) (0.65)
6.26 6.26
3.35 3.35
10.58 10.58
17.89 17.89
Standalone Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Nine Months ended December 31, 2024
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Particulars
3 Months ended
9 Months ended
Year ended
31/Deq'2024 30/Sep/2024 31/Deq'2023 31/Deq'2024 31/Deq'2023 31/Marj2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)
(Audited)
(f in crores)
1 Segment Revenue
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(c) Others
Total Segment revenue Less: Inter segment revenue Total Revenue from operations
2 Segment Results
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(c) Others
Total Segment results Less:
(i) F inanee cos ts (ii) Exceptional items (net) - (income)/ expense (iii) Other unallocable expenditure net of unallocable income
Total Profil/(Ioss) before tax
3 Segment Assets
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(e) Others
Total Segment assets Add: Unallocable assets Total Assets
4 Segment Liabilities
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(c) Others
Total Segment liabilities Add: Unallocable liabilities Total Liabilities
/"--;;--:".. /,,\\~Y_ Ul 'illY'\. I ",tQ"/ "",\:Vu>\
1!k:2g1
e-1
~
'/.;..1. * ~'a"\' -
874.06 652.87 1526.93
73.41 49.18 122.59
52.43
1701.95 153.95 1548.00
943.39 663.07 1606.46
102.11 39.89 142.00
47.48
1795.94 67.46 1728.48
55.16 5.65 60.81
23.65 10.80 34.45
(0.16)
95.10
6.28 -
12.87 75.95
2251.57 1263.60 3515.17
309.46 409.02 718.48
10.93
4244.58 379.24 4623.82
401.46 121.97 523.43
78.63 133.62 212.25
2.37
738.05 953.92 1691.97
(28.32) (3.10) (31.42)
38.50 4.04 42.54
(0.27)
10.85
13.18 - 16.76 (19.09)
1717.05 1035.40 2752.45
272.84 389.74 662.58
10.27
3425.30 422.35 3847.65
102.73 91.97 194.70
73.88 124.80 198.68
2.54
395.92 575.81 971.73
1027.03 549.71 1576.74
71.08 52.90 123.98
51.05
1751.77 198.39 1553.38
119.92 37.42 157.34
26.46 6.53 32.99
(0.09)
2816.93 1838.32 4655.25
230.30 139.72 370.02
147.69
5172.96 362.85 4810.11
63.92 22.13 86.05
80.35 21.12 101.47
(0.48)
2930.36 1632.10 4562.46
203.63 178.35 381.98
132.65
5077.09 475.47 4601.62
147.32 138.90 286.22
73.72 15.99 89.71
(0.75)
190.24
187.04
375.18
4.34 - 4.46 181.44
43.79 - 44.79 98.46
31.02 -
35.09 309.07
2124.82 994.58 3119.40
209.29 382.67 591.96
11.00
3722.36 561.27 4283.63
454.22 90.51 544.73
65.03 160.35 225.38
2.19
772.30 690.90 1463.20
2251.57 1263.60 3515.17
309.46 409.02 718.48
10.93
4244.58 379.24 4623.82
401.46 121.97 523.43
78.63 133.62 212.25
2.37
738.05 953.92 1691.97
2124.82 994.58 3119.40
209.29 382.67 591.96
11.00
3722.36 561.27 4283.63
454.22 90.51 544.73
65.03 160.35 225.38
2.19
772.30 690.90 1463.20
3857.87 2204.90 6062.77
291.81 244.07 535.88
182.11
6780.76 631.62 6149.14
305.60 180.86 486.46
107.09 31.52 138.61
(0.67)
624.40
46.96 -
53.45 523.99
3131.15 1014.73 4145.88
226.42 372.60 599.02
11.86
4756.76 252.87 5009.63
302.84 81.45 384.29
73.06 152.77 225.83
2.39
612.51 1505.72 2118.23
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Notes to the Standalone Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2024
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) and relevant guidelines issued by the Securities and Exchange Board of India (SEBI).
2.
In view of the seasonality of the Sugar Business, the performance results may vary from quarter to quarter.
3. During the quarter, the Company has incorporated a new wholly owned subsidiary viz. Triveni Power Transmission Limited and subscribed to 3.13 crores equity shares of ~ 2 each aggregating to ~ 6.26 crores.
4. The Board at its meeting held on December 10, 2024 has, subject to necessary approvals, considered and approved a Composite Scheme of Arrangement amongst Triveni Engineering & Industries Limited ('TElL'), Sir Shadi Lal Enterprises Limited ('SSLEL') and Triveni Power Transmission Limited ('TPTL') and their respective shareholders and their respective creditors under Section 230 to 232 and other applicable provisions, if any, of the Companies Act, 2013 read with the rules made thereunder (the "Scheme") for amalgamation of SSLEL into TElL and demerger of Power Transmission Business ('PTB') of TElL into TPTL. The approvalj no-objection of Stock Exchanges to the Scheme on the application filed by the Company is awaited.
5. The figures of the previous period under various heads have been regrouped to the extent necessary.
6. The above unaudited standalone financial results of the Company for the quarter and nine months ended December 31, 2024 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 February 4,2025. The Statutory Auditors have carried out a limited review of the above financial results.
For Triveni Engineering & Industries Limited
Place: Naida
Date : February 4, 2025
Dhruv M. Sawhney
Chairman & Managing Director
TRIVENI ENGINEERING & INDUSTRIES LIMITED Regd. Office: A-44, Hosiery Complex, Phase-II Extension, Noida, Uttar Pradesh - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, Uttar Pradesh - 201 301 CIN: Ll5421UP1932PLC022174
Statement of Consolidated Unaudited Financial Results for the Quarter and Nine Months ended December 31,2024
Particulars
1 Revenue from operations
2 Other income Total income
3 Expenses
(a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-
progress
(d) Excise duty on sale of goods (e) Employee benefits expense (f) (g) Depreciation and amortisation expense (h) Other expenses
Finance costs
Total expenses
3 Months ended
9 Months ended
31/Deq'2024 (Unaudited)
30/Sepj2024 31/Deq'2023 (Unaudited) (Unaudited)
31/Deq'2024 (Unaudited)
31/Deq'2023 (Unaudited)
Year ended 31/Marj2024 (Audited)
(t' in crores, except per share data)
1600.30 23.90 1624.20
1449.63 8.14
1748.33 13.68 1762.01
1553.64 21.91 1575.55
4882.66 48.39 4931.05
4603.28 46.47 4649.75
6151.40 62.02 6213.42
228.33 2.68
1345.87 17.20
2158.77 19.22
2179.60 40.46
3968.45 57.09
(544.10)
987.61
(511.37)
953.52
598.67
(426.10)
331.98 114.16 10.55 33.02 163.38 1566.76
257.38 96.95 16.38 32.14 170.74 1792.21
242.46 96.69 6.47 26.16 169.82 1393.30
822.71 307.14 53.34 94.05 453.31 4862.06
685.32 265.85 37.49 77.18 452.57 4337.14
931.31 374.81 55.50 104.12 619.43 5684.61
4 Profit/(Ioss) from continuing operations before share of profit/(Ioss) of joint
ventures, exceptional items and tax
57.44
(30.20)
182.25
312.61
528.81
5 Share of profit/ (loss) of joint ventures 6 Profit/(Ioss) from continuing operations before exceptional items and tax 7 Exceptional items (net) - income/ (expense) 8 Profit/(Ioss) from continuing operations before tax 9 Tax expense
(a) Current tax (b) Deferred tax
Total tax expense
10 Profit/(Ioss) from continuing operations after tax 11 Profit/ (loss) from discontinued operations 12 Tax expense of discontinued operations 13 Profit/ (loss) from discontinued operations (after tax) 14 Profit/(Ioss) for the period
Profit/ (loss) for the period attributable to :
(a) Owners of the Company (b) Non-controlling interests
15 Other comprehensive income
0.12 57.56 - 57.56
17.16 (2.17) 14.99 42.57 - - - 42.57
48.12 (5.55)
(0.06) (30.26) - (30.26)
(4.19) (3.65) (7.84) (22.42) - - - (22.42)
(19.20) (3.22)
Items that will not be reclassified to profit or loss
A (i) A(ii) Income tax relating to items that will not be reclassified to profit or loss
(0.99)
0.09
B(i) B (ii)
Items that will be reclassified to profit or loss Income tax relating to items that will be reclassified to profit or loss
Other comprehensive income for the period, net of tax Other comprehensive income for the period, net of tax attributable to:
(a) Owners of the Company (b) Non-controlling interests
16 Total comprehensive income for the period
Total comprehensive income for the period attributable to:
(a) Owners of the Company (b) Non-controlling interests
17 Paid up equity share capital (face value ~ 1/-) 18 Other equity 19 Earnings per share of ~ 1/ - each (not annuaJised)
(a) Basic (in~) (b) Diluted (in ~)
See accompanying notes to the consolidated financial results
- (1.00)
(0.44) (1.55)
(1.25) (0.30) 41.02
46.87 (5.85) 21.89
- (0.20)
(0.05)
(0.06)
(0.09) 0.03 (22.48)
(19.29) (3.19) 21.89
(0.16) 182.09 - 182.09
40.02 4.67 44.69 137.40 - - - 137.40
137.40 -
- - 0.05
0.01
0.04
0.04 - 137.44
137.44 - 21.89
68.99
0.07 69.06 - 69.06
22.82 (4.90) 17.92 51.14 - - - 51.14
60.19 (9.05)
(6.24)
(0.61) (1.10)
(0.46)
(6.27)
(6.00) (0.27) 44.87
54.19 (9.32) 21.89
(0.36) 312.25 - 312.25
70.41 7.72 78.13 234.12 - - - 234.12
234.12 -
-
- 0.65
0.16 0.49
0.49 - 234.61
234.61 - 21.89
0.18 528.99 - 528.99
122.65 11.18 133.83 395.16 - - - 395.16
395.16 -
10.62
1.10 0.83
0.21 10.14
10.14 - 405.30
405.30 - 21.89 2879.01
18.05 18.05
1.94 1.94
(1.02) (1.02)
6.28 6.28
2.34 2.34
10.70 10.70
Consolidated Unaudited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Nine Months ended December 31, 2024
TRIVENI ENGINEERING & INDUSTRIES LIMITED
(t in erores)
3 Months ended
Year ended 31/Deq'2024 30/Sep/2024 31/Deq'2023 31/Deq'2024 31/Deq'2023 31/Mar/2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)
9 Months ended
(Audited)
Particulars
1 Segment Revenue
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(e) Others
Total Segment revenue Less: Inter segment revenue Total Revenue from operations
2 Segment Results
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(e) Others
Finance costs
Total Segment results Less: (i) (ii) Exceptional items (net) - (income)/expense (iii) Share of (profit)/loss of joint ventures (iv) Other unallocable expenditure net of unallocable income
I
Total ProfiV(loss) before tax
3 Segment Assets
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(e) Others
Total Segment assets Add: Unallocable assets Total Assets
4 Segment Liabilities
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(e) Others
Total Segment liabilities Add: Unallocable liabilities Total Liabilities
.......:-:.nR~ /_Q~\\~II}<x'-..
11:1' I~ Noida ~') '1_1.!J. * ~'O"\'. -
~-
If}
929.50 652.83 1582.33
73.41 49.12 122.53
52.43
1757.29 156.99 1600.30
959.28 669.44 1628.72
102.11 40.04 142.15
47.48
1818.35 70.02 1748.33
41.83 2.84 44.67
23.65 10.37 34.02
(0.16)
78.53
10.55 - (0.12) 10.54 57.56
2320.47 1318.84 3639.31
309.46 576.14 885.60
10.93
4535.84 425.08 4960.92
591.23 140.47 731.70
78.63 147.64 226.27
2.37
(35.40) (5.79) . (41.19\
38.50 3.23 41.73
(0.27)
0.27
16.38 - 0.06 14.09 (30.26)
1761.28 1093.44 2854.72
272.84 558.52 831.36
10.27
3696.35 510.85 4207.20
352.58 111.09 463.67
73.88 140.59 214.47
2.54
960.34 1157.53 2117.87
680.68 724.47 1405.15
1027.03 549.71 1576.74
71.08 53.16 124.24
51.05
1752.03 198.39 1553.64
119.92 37.42 157.34
26.46 6.20 32.66
(0.09)
2888.26 1844.65 4732.91
230.30 140.21 370.51
147.69
5251.11 368.45 4882.66
2930.36 1632.10 4562.46
203.63 180.01 383.64
132.65
5078.75 475.47 4603.28
42.92 16.33 59.25
80.35 19.71 100.06
(0.48)
147.32 138.90 286.22
73.72 15.83 89.55
(0.75)
3857.87 2204.90 6062.77
291.81 246.33 538.14
182.11
6783.02 631.62 6151.40
305.60 180.86 486.46
107.09 31.41 138.50
(0.67)
189.91
158.83
375.02
624.29
6.47 - 0.16 1.19 182.09
2124.82 994.58 3119.40
209.29 553.15 762.44
11.00
3892.84 500.35 4393.19
454.22 90.51 544.73
65.03 175.42 240.45
2.19
787.37 777.11 1564.48
53.34 - (0.07) 36.50 69.06
37.49 - 0.36 24.92 312.25
55.50 - (0.18) 39.98 528.99
2320.47 1318.84 3639.31
309.46 576.14 885.60
10.93
4535.84 425.08 4960.92
591.23 140.47 731.70
78.63 147.64 226.27
2.37
960.34 1157.53 2117.87
-
2124.82 994.58 3119.40
209.29 553.15 762.44
11.00
3892.84 500.35 4393.19
454.22 90.51 544.73
65.03 175.42 240.45
2.19
787.37 777.11 1564.48
3131.15 1014.73 4145.88
226.42 348.01 574.43
11.86
4732.17 386.14 5118.31
302.84 81.45 384.29
73.06 167.35 24D.41
2.39
627.09 1590.32 2217.41
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Notes to the Consolidated Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2024
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) and relevant guidelines issued by the Securities and Exchange Board of India (SEBI).
2.
In view of the seasonality of the Sugar Business, the performance results may vary from quarter to quarter.
3. The Company is in the process of making final determination of fair values of the identified assets and liabilities of Sir Shadi Lal Enterprises Limited ('SSLEL'), a subsidiary of the Company, as per Ind AS 103 "Business Combinations", pending which the business combination has been accounted based on book values. The above financial results include the results of SSLEL for the period from June 21,2024 to December 31,2024 (i.e., for the period post becoming a subsidiary of the Company) and resultantly, the figures for the current periods are not comparable with previous periods.
4. The Board at its meeting held on December 10, 2024 has, subject to necessary approvals, considered and approved a Composite Scheme of Arrangement amongst Triveni Engineering & Industries Limited ('TElL'), Sir Shadi Lal Enterprises Limited ('SSLEL') and Triveni Power Transmission Limited ('TPTL') and their respective shareholders and their respective creditors under Section 230 to 232 and other applicable provisions, if any, of the Companies Act, 2013 read with the rules made thereunder (the "Scheme") for amalgamation of SSLEL into TElL and demerger of Power Transmission Business ('PTB') of TElL into TPTL. The approval/no-objection of Stock Exchanges to the Scheme on the application filed by the Company is awaited.
5.
The figures of the previous period under various heads have been regrouped to the extent necessary.
6.
The standalone unaudited financial results of the Company are available on the Company's website (www.trivenigroup.com), website of BSE (www.bseindia.com) and NSE (www.nseindia.com). Summarised standalone financial performance of the Company is as under:
3 Months ended
9 Months ended
(~in crores
Year ended
Particulars
31-Dec-2024 (Unaudited)
30-Sep-2024 (Unaudited)
31-Dec-2023 31-Dec-2024 31-Dec-2023 31-Mar-2024 (Unaudited)
(Unaudited)
(Unaudited)
(Audited)
Income from operations Profit/ (loss) before (after tax exceptional items) Profit/ (loss) after tax (after exceptional items) Total comprehensive income
1548.00
1728.48
1553.38
4810.11
4601.62
6149.14
75.95
(19.09)
181.44
98.46
309.07
523.99
56.69
(14.18)
136.97
73.38
231.70
391.52
55.93
(14.32)
137.02
67.82
232.19
401.66
7.
The above unaudited consolidated financial results of the Company for the quarter and nine months ended December 31, 2024 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 February 4,2025. The Statutory Auditors have carried out a limited review of the above financial results.
For Triveni Engineering & Industries Limited
Place: Noida Date : February 4, 2025
Dhruv M. Sawhney Chairman & Managing Director