Triveni Engineering & Industries Limited has informed the Exchange about Investor Presentation
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Plvenl
·
ENGINEERING & INDUSTRIES L TO.
REF TElL SE BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai - 40000 I Thru: BSE Listing Centre
'- +91 1204308100 ~ +911204311010/11 ~ www.trivenigroup.com
ay,
D
2025
28th M
ate: National Stock Exchange of India Limited Exchange Plaza, C-l, Block G Bandra Kurla Complex, Bandra (E) Mumbai - 400051 Thru:NEAPS
Scrip Code: 532356 Sub: Presentation for Q4 & FY25 ended March 31, 2025
Symbol: TRIVENI
Dear Sirs,
We send herewith a copy of investors' Presentation on the performance of the Company for the Q4 & FY25 (con sol idated) ended March 3 I, 2025 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
Ene!: As above
Corporate Office: 81h 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-20' 305, Uttar Pradesh. CIN No.: L 15421 UP1932PLC02217 4
GEETA BHALLADigitally signed by GEETA BHALLA Date: 2025.05.28 11:20:24 +05'30'INVESTOR PRESENTATION Q4 / FY 25 MAY 2025
1
CONTENTS
03
COMPANY OVERVIEW
RESTRUCTURING
08
13
OUR FINANCIAL HIGHLIGHTS
OUR BUSINESSES
22
59
SHAREHOLDING PATTERN
2
TRIVENI AT A GLANCE
LOCATIONS* 23 world-class facilities including: 8 Sugar plants 5 Distillery facilities at four locations #
~ ₹ 8,416 Crore Market Capitalization
39.02% Free Float
70,500 Tonnes per day Sugarcane crushing capacity*
860 KLPD Kilo Liter Per Day (KLPD) Alcohol/Distillery capacity#
104.5 Mega Watt Power Co-generation
>12,000 PTB installations across the world
>12,000 MLD Water & Wastewater treated through Triveni projects
Note: Market Capitalization and Free Float as on March 31, 2025 for Triveni Engineering & Industries Ltd. (TEIL) * Including Sir Shadi Lal Enterprises Ltd. (SSEL) which is a subsidiary of TEIL # Not including SSEL’s distillery of 100 KLPD
3
OUR STRENGTHS
Strong Leadership & Governance
Market Leadership
Financial Strength & Resilience
Stakeholder Trust & Ecosystem Integration
Strategic Tailwinds & Growth Drivers
•
•
Experienced management team with a proven track record of value creation across diverse sectors.
Robust corporate governance with a majority- independent board comprising members with diverse and distinguished backgrounds.
•
•
Among the leading players in the India’s sugar industry with best- in-class infrastructure and forward integration into distilleries. Dominant position in high-speed gearboxes domestically and expanding international footprint.
• Operating in industries
with high entry barriers and long gestation periods, ensuring sustainable competitive advantage.
•
•
•
Significantly strengthened balance sheet over the past five years, enhancing the Company’s risk- return profile.
Demonstrated ability to incubate and scale businesses, reflecting strategic foresight and execution capability.
Deep-rooted relationships with external stakeholders, including suppliers, customers, and regulatory bodies, fostering long-term stability and growth.
• Well-positioned to benefit from rising rural prosperity and increasing Government focus on agriculture and rural development.
•
Import substitution opportunities in both ethanol (biofuel) and engineering segments, aligning with national priorities.
4
OUR BUSINESS-WISE OUTLOOK
SUGAR
• • •
• •
SS 2025-26 expected to commence earlier with favourable monsoon forecasts Improvement in area under sugarcane expected in SS 2025-26 driven by higher spring planting Focus on yield enhancement and crop management through a structured sugarcane development and extensive farmer engagement programme Continued push for varietal substitution reduce the proportion of vulnerable variety Co238 Plant improvements over the last few years leading to higher crush rates, higher percentage of refined sugar production and lower steam consumption in most units. These include conversion of existing extraction cum condensing turbines to backpressure turbines to further enhance bagasse savings.
ALCOHOL
•
•
•
•
Focus on profitability enhancement in Alcohol segment driven by optimizing costs through a robust grain feedstock procurement and warehousing programme Formation of an inter-ministerial group to work on roadmap beyond EBP-20 i.e. 20% blending targets by 2025-26 showcases Government’s continued commitment towards ethanol and hopeful that feedstock and profitability challenges will be addressed. In IMIL, continue to enhance market position and focus on improving profitability through combination of topline growth and enhancing contribution margins. In IMFL, focus is to strengthen distribution channels to enhance market presence and accessibility.
5
OUR BUSINESS-WISE OUTLOOK
POWER TRANSMISSION
• Outlook for the domestic product segment within high speed gears is extremely promising with robust industrial
capex and economic growth Several breakthrough qualification orders in the last 1-2 years establish acceptance by global OEMs
• • Overall, the Gears business remains focused on exports to support its strategic objective of expanding its global
footprint Traction in Defence business gaining momentum as large orders nearing decision, positive developments across multiple product lines with orders received in last few months Increasing footprint to capture high-growth opportunities for Aftermarket segment
•
•
WATER
•
•
Supported by funding from Central & State governments including from external sources, new opportunities are emerging in recycle, reuse and Zero Liquid Discharge kind of business on EPC as well as PPP 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 select international opportunities 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.
6
ENVIRONTMENT, SOCIAL, GOVERNANCE (ESG) GUIDING PRINCIPLES
Highest level of ethical and corporate governance standards, with stringent compliances
Best-in-class sustainable processes and solutions across our operations and units
Allocation of capital with focus on reducing carbon footprint and promoting energy efficiency
Maintaining ecological balance while ensuring business excellence
Harnessing co-products to become raw materials for other products, thus promoting circular economy
Fostering community development and social empowerment
7
RESTRUCTURING
CORPORATE STRUCTURE SIMPLIFICATION UNDERWAY
On 10 December 2024, the Board of Directors of Triveni Engineering & Industries Limited (TEIL/Amalgamated Company/Demerged Company), Sir Shadi Lal Enterprises Limited (SSEL/Amalgamating Company) and Triveni Power Transmission Ltd. (TPTL/ Resulting Company) have approved a Composite Scheme of Arrangement (Scheme).
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.
Transfer and vesting of PTB Undertaking (as defined in the Scheme) of TEIL to Triveni Power Transmission Limited (TPTL). TPTL is a wholly- owned subsidiary of TEIL presently.
Note: Please see Annexures for more details
9
EXISTING AND RESULTANT STRUCTURE OF ENTITIES: TEIL and SSEL
Before Amalgamation of SSEL with TEIL
After Amalgamation of SSEL with TEIL
39.02%
60.98%
38.23%
39.42%
61.77%
60.58%
Promoters
Public
TEIL (Promoter)
Public
Promoters
Public
~21.89 cr shares of INR 1 each
~52.5 lakh shares of INR 10 each
~22.04 cr shares of INR 1 each
• •
Shareholding held by TEIL in SSEL (i.e. SSEL Promoter Shareholding) shall get cancelled pursuant to the Scheme SSEL shall stand dissolved without following the procedure of winding up, upon the Scheme becoming effective
10
EXISTING AND RESULTANT STRUCTURE OF ENTITIES: TEIL and TPTL
After Amalgamation of SSEL with TEIL and before PTB Demerger
After PTB Demerger
39.42%
60.58%
39.42%
27.64%
42.48%
100.00%
60.58%
29.88%
72.36% Total Promoter Holding
Promoters
Public
TEIL (Promoter)
Promoters
Public
Existing Promoters of TEIL (Promoter) TEIL (Promoter) Public
~22.04 cr shares of INR 1 each
~3.13 cr shares of INR 2 each
~22.04 cr shares of INR 1 each
~10.48 cr shares of INR 2 each
11
RATIONALE FOR DEMERGER OF POWER TRANSMISSION BUSINESS & RATIO OF ISSUE OF EQUITY SHARES BY TPTL
Sharpened focus
The transfer of the PTB Undertaking (as defined in the Scheme) into TPTL will enable each business to sharpen its focus and organize its activities and resources to improve its offerings to their respective customers. This would help to improve its competitiveness, operational efficiency, agility and strengthen its position in relevant markets resulting in more sustainable growth and competitive advantage
Competitive position and market penetration
PTB has attained a significant size, scale and has a large headroom for growth in its market. As PTB is entering the next phase of growth, the transfer and vesting of the PTB Undertaking into the Resulting Company pursuant to this Scheme would result in focused management attention and efficient administration to maximize its potential
Value unlocking
Further, as PTB has separate growth trajectories, risk profile and capital requirement, the segregation of the PTB Undertaking and the Residual Business will enable independent value discovery and lead to unlocking of value for each business
TPTL will issue 1 equity share of face value INR 2 each to shareholders of TEIL for every 3 equity shares of face value INR 1 each held in TEIL, provided that the Existing Equity Shares held by TEIL shall continue to be held by TEIL in TPTL.
12
OUR FINANCIAL HIGHLIGHTS
OUR LONG-TERM HIGHLIGHTS
• •
•
•
•
Well Diversified and Growing Revenues
01
FY 20-25 Gross Revenue CAGR 8.9% Rising revenue contribution from non- sugar business from 21% to 38% during FY 2020-25
Key Business Highlights
02
Judicious investment in Sugar facilities to enhance sugarcane crush rate, sugar quality and efficiencies. Enhanced Alcohol distillation capacities over the years in alignment with Government’s Ethanol Blended Petrol Program Power Transmission Business continues its long term growth journey with FY 25 as another record year in terms of revenues, profits and order booking
$ Placed on ratings watch with developing implications on December 19, 2024.
03
Strong balance sheet position
• Improved leverage and cost of funds
over the period
• ICRA Long Term Credit Rating of AA+ $
04
Consistent focus on returns
• Long history of returning cash through combination of dividend and buybacks including record buyback of ₹ 800 crore in FY 23 and sustained dividends over the years
Focused on Value Creation
05
•
•
•
Restructuring aimed at corporate structure simplification and value creation Divested 21.85% stake in Triveni Turbine Limited to monetize non-core assets and unbundle businesses in Sep 2022 Announced Amalgamation of SSEL and Demerger of PTB in Dec 2024
14
ROBUST FINANCIAL PERFORMANCE
Revenue from Operations (Gross)*
Profit Before Interest and Tax (PBIT)
₹ Crore
6310
6151
6808
4437
4703
4694
576
603
584
505
510
408
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
Robust revenue growth of 8.9% p.a. during FY 2020-2025 with increasing contribution from non-sugar businesses
Note: * Revenue from Operations (Gross) include Excise duty of ₹ 1118.7 crore in FY 25, ₹ 931.31 crore in FY 24, ₹ 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
15
STRONG BALANCE SHEET POSITION
Total Consolidated Debt (₹ Crore)
Total Consolidated Debt To Equity (x times)
1558
994
1568
1411
914
1969
1.16
0.64
0.82
0.35
0.49
0.63
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
Average Cost of Debt (Standalone)
Long-term credit rating
6.3%
6.1%
5.0%
5.1%
6.5%
6.9%
ICRA AA- (Stable)
ICRA AA- (Stable)
ICRA AA (Stable)
ICRA AA (Stable)*
ICRA AA+ (Stable)*
ICRA AA+ 3
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
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. Upgraded to ICRA AA+ (Stable) on March 27, 2024. $ Placed on ratings watch with developing implications on December 19, 2024.
16
CREATING SHAREHOLDER VALUE
Cash Generation during FY 20-25 ₹ 4,202 crore
Dividends & Buybacks (incl. taxes) ₹ 1,574 crore (37% of cash generation)
Funds Retained for Working Capital ₹ 1,452 crore (35% of cash generation)
Capital Expenditure* ₹ 1,176 crore (28% 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 20 to FY 25 *Capital Expenditure: Purchase of property, plant and equipment and intangible assets, net of term loans availed/paid
17
ENHANCING SHAREHOLDER RETURNS THROUGH COMBINATION OF BUYBACKS & DIVIDENDS
Buyback of Shares (₹ Crore)
Dividend (₹ Crore)
Dividend Payout Ratio (%)
800
100
65
27.3
42.3
125.9
78.6
71.1
54.7
10%
15%
21%
17%
20%
22%
FY 20 FY 21 FY 22 FY 23 FY 24 FY 25
12%
FY 20
FY 21
FY 23
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
Interim + Final
Special
Past history of returning cash through combination of dividend and buybacks Concluded record buyback of ₹ 800 crore in FY 23
• • • Dividend of ₹ 2.50 per equity share for FY 25 • 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 crore, ₹ 65 crore and ₹ 800 crore 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 FY 24 Dividend payout ratio of 12% represents special dividend of ₹ 2.25 per equity share FY 25 Dividend is subject to approval from shareholders
18
FY 25: OVERALL LOWER PROFITABILITY; POWER TRANSMISSION BUSINESS CONTINUED ITS STELLAR PERFORMANCE
•
• •
•
•
Revenues & Profitability
Revenue from Operations (Net of excise duty) at ₹ 5689.2 crore, an increase of 9.0% Profit Before Tax at ₹ 324.2 crore Profit After Tax at ₹ 238.3 crore
SS 2024-25 Updates
01
02
There was a general trend of lower yields and recovery in UP in the Sugar Season (SS) 2024-25 wherein overall crush was lower by ~3% and recovery lower by 90 basis points, according to the Company’s estimates. Relatively, the Company (on a standalone basis) achieved sugarcane crush almost at the same level as previous season with gross recovery lower by 69 basis points. Khatauli sugar unit achieved the highest sugarcane crush and sugar production in India this year and has also overtaken its previous highest historical crush. Deoband sugar unit also achieved its second highest historical crush.
03
Power Transmission Business Updates
•
•
Power Transmission business reported record turnover and profitability – turnover increased by 26.8% and segment profits by 18.4%. Order booking for the year stood at ₹ 475.4 crore, up 26.6% y-o-y while closing order book grew 35.5% and stood at ₹389.4 crore as on March 31, 2025.
Water Business Updates
04
• Water business closing order book of ₹ 1600.8
crore at the end of the financial year, up 30.8% y-o-y.
05
Outcome of Board Meeting
•
The Board of Directors recommended final dividend of 250% (₹ 2.50 per equity share) for the financial year 2024-25)
19
FY 25: SEGMENT-WISE CONTRIBUTION TO REVENUES AND PROFITS (PBIT)
FY 25: Segment-wise Revenues and Contribution*
FY 25: Segment-wise PBIT and Contribution
27%
7% 4%
3%
62%
57%
9%
27%
7%
Sugar
Distillery (net of Excise)
Sugar
Distillery
Power transmission Water
Power transmission
Water
Others
Rising revenue and profit contribution from non-sugar business to 38% and 43% in FY 25
* Percentages calculated on Net Revenue from Operations excluding excise duty. Intersegmental revenue adjusted from Sugar segment as these are largely due to sale of sugar by-products
20
CONSOLIDATED FINANCIAL HIGHLIGHTS Q4 / FY 25
Q4 FY 25 Q4 FY 24
Change %
FY 25
FY 24
Change %
₹ Crore
Revenue from Operations (Gross)
1,925.3
1,548.1
Revenue from Operations (Net of excise duty)
EBITDA
EBITDA Margin
Profit Before Tax (PBT)
Profit After Tax (PAT)
1,629.3
1,302.1
317.4
261.2
19.5%
20.1%
255.2
216.7
187.1
161.0
EPS (not annualised) (₹/share)
8.55
7.36
24.4
25.1
21.5
17.7
16.2
16.1
6,807.9
6,151.4
10.7
5,689.2
5,220.1
9.0
533.8
688.4
-22.5
9.4%
13.2%
324.2
529.0
238.3
395.2
10.88
18.05
-38.7
-39.7
-39.7
21
OUR BUSINESSES
SUGAR
OUR SUGAR BUSINESS PROFILE Strategic Manufacturing Presence
2
3
1
4
CENTRAL UP
1. Rani Nangal (Sulphitation)#
2. Milak Narayanpur (Refined)
2
3. Chandanpur (Sulphitation)*#
1
3
1
EASTERN UP
1. Ramkola (Sulphitation)
WESTERN UP
1. Deoband (Refined Sugar)
2. Khatauli (Refined Sugar)*
3. Sabitgarh (Refined, Pharmaceutical Sugar)
4. Shamli (SSEL) (Sulphitation)
* Bonsucro Certified # Largely selling to institutional clients
WE MANUFACTURE
Refined sugar for high-grade end users
Various grades of pharmaceutical sugar, which can be customised as per user requirements
White crystal sugar
OUR USPs
Strategic Location
Strong Sugar Recoveries
Product Mix and Price Benefit
Prestigious Customer base
360K+ farmer relationships
24
SUGAR BUSINESS PERFORMANCE OVER THE YEARS
Area under Sugarcane (Lakh Hectares)
Sugarcane Crushed (LQ)
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
8 9 . 1
2 2 - 1 2 0 2
4 0 . 2
6 0 . 2
3 2 - 2 2 0 2
4 2 - 3 2 0 2
4 1 . 2
5 2 - 4 2 0 2
0 4 6
7 1 - 6 1 0 2
2 5 4
6 1 - 5 1 0 2
7 3 8
8 1 - 7 1 0 2
8 9 7
9 1 - 8 1 0 2
4 7 8
4 5 8
1 4 8
0 2 - 9 1 0 2
1 2 - 0 2 0 2
2 2 - 1 2 0 2
2 3 9
3 2 - 2 2 0 2
Sugar Produced (Lakh Quintals)
Gross Recovery (%)
1 7
7 1 - 6 1 0 2
9 4
6 1 - 5 1 0 2
5 9
4 9
8 1 - 7 1 0 2
9 1 - 8 1 0 2
1 0 1
0 2 - 9 1 0 2
4 9
5 9 9 8
9 8
2 9
1 2 - 0 2 0 2
2 2 - 1 2 0 2
3 2 - 2 2 0 2
4 2 - 3 2 0 2
5 2 - 4 2 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
7 4 . 1 1
3 2 - 2 2 0 2
5 2 8
4 2 - 3 2 0 2
9 4 . 1 1
4 2 - 3 2 0 2
5 0 9
5 2 - 4 2 0 2
0 8 . 0 1
5 2 - 4 2 0 2
Note: Data for Sugar Seasons; Gross recoveries (after adjustment on account of B-heavy molasses and syrup diversion) SS 2024-25 depicted for Triveni on consolidated basis i.e. including SSEL Recent crush and recoveries impacted by climatic factors across the state of UP
25
SUGAR REALISATIONS SET TO STRENGTHEN
Triveni Sugar Realisation (Domestic) (₹/Quintal)
4,200
4,000
4,100
4,099
3,956
3,917
3,879
3,800
3,717
3,600
3,523
3,400
3,200
3,000
3,394
3,224
3,685
3,570
3,340
3,168
3,840
3,713
3,931
3,737
3,593
3,696
3,526
3,505
3,339
3,478
3,986
3,934
3,851 3,851
3,732
3,568
3,761
3,620
4,062
3,912
3,615
3,639
3,932
3,816
3,653
3,527
3,989
3,872
4,088
4,098
3,855
3,855
3,521
3,539
3,511
3,517
3,488
3,513
3,307 3,289
3,276
3,333
3,327
3,274
3,311
3,263
3,257
3,267
3,203
April
May
June
July
August
September October
November December
January
February
March
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
• •
Sugar realisations have remained robust in FY 25 Expect strengthening given improvement in Sugar Balance sheet
26
SS 2024-25: TREND OF LOWER RECOVERIES
Sugarcane Crushed (Million Tonnes)
Gross Recovery (%)
Sugar Production (Tonnes)
+9.6%
8.26
9.05
-69 bps
9 4 . 1 1
0 8 . 0 1
+2.9%
6 2 1 0 9 8
0 6 0 6 1 9
SS 2023-24 SS 2024-25
SS 2023-24 SS 2024-25
SS 2023-24 SS 2024-25
•
•
•
Trend of lower yield and recoveries observed in UP in SS 2024-25 with recoveries in the state declining by an estimated 90 bps
Triveni has fared relatively better with gross recovery declining by 69 bps
For Triveni (including SSEL), sugarcane crush during Sugar Season (SS) 2024-25 is 9.6% higher at 9.05 million tonnes
Note: Consolidated include 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
27
SUGAR: IMPROVED BLENDED REALISATIONS IN FY 25
Sugar Dispatches (Tonnes)
Average Blended Realisation (₹/MT)*
+8.8% (Total)
198204 198204
215595 215595
Q4 FY 24
Q4 FY 25
+3.6% (Total)
855615
886558
14531
841084
886558
+5.1%
+2.7%
40395
38429
38175
39192
FY 24
FY 25
Q4 FY 24
Q4 FY 25
FY 24
FY 25
Domestic
Exports
Total
•
•
Blended sugar realisations improved 2.7% y-o-y to ₹ 39,192/tonne in FY 25
Income through third party exports – ₹ 15.4 crore at TEIL and ₹ 1.5 crore at SSEL
*including export realisations as applicable Note: Consolidated include 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
28
SUGAR: LOWER PROFITABILITY DUE TO HIGHER COST OF PRODUCTION
₹ Crore
REVENUE
PBIT
+2.8%
+41.3%
-12.8%
+16.3%
3857.9
3967.0
927.5
1078.7
266.5
305.6
223.6
158.3
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 FY 24
Q4 FY 25
FY 24
FY 25
•
•
Consolidated segment PBIT declined 12.8% y-o-y at ₹ 266.5 crore due to higher cost of sugar sold during the year resulting from (a) higher cost of sugar produced in SS 2023-24 factoring in increased sugarcane price, and (b) higher cost of production of sugar produced in Sugar Season (SS) 2024-25 on account of lower recovery by 69 bps.
The sugar inventory as on March 31, 2025 was 60.4 lakh quintals (including sugar inventory of 3.6 lakh quintals pertaining to SSEL), which is valued at ₹ 37.62/kg.
29
SUGARCANE DEVELOPMENT PROGRAMME – KEY HIGHLIGHTS
A Structured Varietal Substitution Programme for the mutual benefit of the Company and the farmers
Active engagement with farmers through model demonstration (demo) plots
Crop Protection from different Pests & Diseases using a structured surveillance programme
Various digital initiatives towards sugarcane development programme
V
Significant focus on Yield improvement through various agronomic interventions
Soil Health Improvement for application of balanced dosage of fertilizers & nutrients as per soil analysis reports and recommendations
Farm implements and mechanization for enhancing inter-cultural operations, etc.
30
INDIA SUGAR BALANCE SHEET: COMFORTABLE CLOSING STOCKS OF 5.8 MILLION TONNES FOR SS 2024-25
in million tonnes
+3.8*
+2.0*
+3.5*
32.8
31.9
26.4
27.9
29.0
28.0
7.0
5.6
8.4
Opening Stock as on 1st Oct
Production
Internal Consumption
6.4
0.1
1.0
Exports
8.4
5.8
5.6
Closing Stock as on 30th Sep
2022-23
2023-24
2024-25e
•
SS 2024-25: Lower sugar production, allowed exports of 1 million tonne resulting in expectations of lower closing stocks
Note: Opening stock for SS 2022-23 revised as per GOI numbers *Sugar diversion to ethanol production in million tonnes
31
ALCOHOL
OUR ALCOHOL BUSINESS PROFILE Strategic Manufacturing Presence
1
2
WESTERN UP
1. Muzaffarnagar 2 Facilities: Molasses 200 KLPD and Grain 60 KLPD
2. Sabitgarh Facility: Molasses 200 KLPD
1
CENTRAL UP
1. Rani Nangal Facility: Multi-feed 200 KLPD
Bio-ethanol
WE PRODUCE
2
2. Milak Narayanpur Facility: Multi- feed 200 KLPD
Extra Neutral Alcohol (ENA), Rectified Spirit (RS) and Denatured Spirit (SDS)
Co-products such as DDGS, Potash-rich ash, CO2,
OUR STRENGTHS
Integrated Operations
Flexibility of feedstock
High Operational Efficiencies
Modern & Efficient Technology
Focus on Environment, Health and Safety
High-quality by-products
Note: Not including SSEL’s distillery of 100 KLPD as it has not operated in the SS 2024-25 in view of extensive repairs
33
ALCOHOL BUSINESS PERFORMANCE OVER THE YEARS
Alcohol Production (in KL)
Alcohol Sales (in KL)
6 2 8 3 9
0 2
Y F
7 2 0 7 0 1
1 2
Y F
4 0 6 7 0 1
2 2
Y F
4 9 1 1 8 1
3 2
Y F
1 5 3 4 8 1
4 2
Y F
3 8 0 0 0 2
5 2
Y F
6 6 5 4 8
0 2
Y F
7 3 6 3 0 1
1 2
Y F
7 3 8 7 1 1
2 2
Y F
3 2 4 0 8 1
3 2
Y F
7 0 7 2 8 1
4 2
Y F
8 6 5 1 0 2
5 2
Y F
Average Realisation (₹/ ltr)
IMIL Sales (Lakh Cases)
46.1
48.9
54.1
57.3
59.0
62.6
0 2
Y F
1 2
Y F
2 2
Y F
3 2
Y F
4 2
Y F
5 2
Y F
55.7
44.7
33.4
17.8
2 2
Y F
3 2
Y F
4 2
Y F
5 2
Y F
•
Enhanced alcohol distillation capacity over the years in alignment with Ethanol Blended Petrol (EBP) Programme
34
AMONG TOP 5 PLAYERS IN UP IN INDIAN MADE INDIAN LIQUOR BUSINESS
• We produce premium-quality molasses-based IMIL (Indian Made Indian Liquor) and grain-based UPML (UP Made Liquor), catering to the Uttar Pradesh market through an extensive distributor and retail network.
•
•
Following capex announcements in FY 25, enhanced our capacity to produce 7.5 lac cases per month/ 90 lac cases per annum.
In a short duration of 3 years, the Company has garnered a healthy market share in UP. It is also the fastest-growing IMIL liquor Company in UP and among the top 5 players in the industry, committed to quality, innovation, and market leadership.
35
INDIAN MADE FOREIGN LIQUOR WINS MULTIPLE AWARDS IN 1st YEAR OF LAUNCH
MATSYA AWARDS
Spiritz Achievers Awards 2024
INDSPIRIT 2025
World Whiskies Award Design
THE CRAFTER STAMP
Spiritz Achievers Awards 2024
World Whiskies Award Design
36
ALCOHOL: INCREASED VOLUMES DRIVEN BY CAPACITY ADDITION
Alcohol Production (KL)
Alcohol Sales (KL)
Avg. Realisation (₹/litre)
+8.5%
1 5 3 4 8 1
3 8 0 0 0 2
+29.9%
9 6 0 9 4
2 3 7 3 6
+38.7%
8 7 8 4 4
6 5 2 2 6
+10.3%
+2.9%
+6.1%
7 0 7 2 8 1
8 6 5 1 0 2
61.1
62.9
62.6
59.0
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 FY 24 Q4 FY 25
FY 24
FY 25
•
Sale of Ethanol / ENA produced from grain-based feedstocks contributed 51% to the total alcohol sales (33% for FY 24),
surpassing sale of Ethanol/ENA from sugarcane-based feedstocks (majorly B-heavy) which constituted 49% of the total
alcohol sales for FY 25 (67% for FY 24).
Note: The above include 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.
37
ALCOHOL: PROFITABILITY IMPACTED
NET REVENUE*
+15.7%
1473.5
+38.2%
1273.6
-44.4%
326.8
451.6
42.0
23.3
₹ Crore
PBIT
-78.1%
180.9
39.7
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 FY 24 Q4 FY 25
FY 24
FY 25
* Revenue net of excise duty
•
The profitability of the Alcohol business was adversely affected in FY due to higher sales volume of ethanol produced from
maize where margins were lower that substituted Surplus Food Grains (SFG), which was available till July 2023 at ₹ 20 per
kg; lower sales volume of ethanol produced from molasses due to lower sugarcane crush and higher operations with C-
heavy molasses and non-recovery of fixed expenses during the period the distilleries remained closed due to shortage of
feedstocks and increase in internal transfer price of molasses.
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.
38
EBP PROGRAMME DRIVING ETHANOL DEMAND
Ethanol Supplied (Cr. Litres)
Contracted Quantity for ESY 2024-25 ➔
996.7
1000 900 800 700 600 500 400 300 200 100 0
4.2
151
4.9
10 179
5.0
16 157
2.1
67
10.0
72
361
8.1
41
261
12.1
137
369
14.6
402
270
18.4
188.5
181
20.0 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0
2016-17
2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
Ethanol from Sugarcane-based feedstocks
Ethanol from Grain-based feedstocks
Blending % achieved
• Under EBP Programme, ethanol blending with petrol increased from ~189 crore litres in ESY 2018-19 to more than 670 crore
litres in ESY 2023-24 with corresponding increase in blending percentage from 5% in ESY 2018-19 to approximately 14.6% in ESY 2023-24.
• NITI Aayog coordinating Inter-ministerial group working on roadmap beyond EBP 20 reinforces Government’s commitment
Note: Data pertains to Ethanol Supply Year (ESY)
39
CONTINUED ETHANOL PRICING IMPROVEMENTS
• Government has been incentivizing the industry through supportive ethanol prices under the EBP Programme • •
In ESY 2024-25, prices have been revised for ethanol produced from C-heavy molasses In ESY 2023-24, prices were revised for ethanol produced from Maize and C-heavy molasses
India Ethanol Pricing (₹/litre)
75.00
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 23-24*
ESY 24-25
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 * Above ethanol prices for ESY refer to the last revised prices in that year
40
POWER TRANSMISSION
DIVERSE PRODUCT & SOLUTIONS PORTFOLIO
OUR GEARS 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
42
POWER TRANSMISSION BUSINESS HIGHLIGHTS
One of the largest engineered-to- order turbo gear manufacturers in India
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
Reliable aftermarket services throughout the product life cycle at the lowest cost, thus maximising uptime and performance
Cost and Quality leadership are the major differentiators
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
43
SERVING A MULTITUDE OF INDUSTRIES
Industries We Serve
Power Generation (IPPs)
Oil & Gas
Refinery & Petrochemicals
Chemical & Fertilisers
Sugar
Cement
Rubber & Plastics
Steel
Marine
Note: Sample list
44
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
45
OUR POWER TRANSMISSION BUSINESS CLIENTELE
Steam Turbines
Gas Turbines
Compressors
Pumps
Fans and Blowers
Defence
46
OUR POWER TRANSMISSION BUSINESS CLIENTELE
Other Key Clients
47
FORAY INTO DEFENCE
OUR DEFENCE PORTFOLIO
OUR DEFENCE ADVANTAGE
• Marine Propulsion Gearboxes and other
critical gearboxes
Special Application Pumps
Special Application Motor-driven Pumps
•
•
• Gas Turbine Generators for Auxiliary Power
• Complex Turbo-Auxiliaries
• Propulsion System Integration
• Propulsion Shafting for Surface Ships
• Propulsion Shafting for Submarines
•
Solutions for Steering Systems / Stabilisers
• Winches and Deck Machinery
• Aero Auxiliary Transmission
R&D expertise on critical turbo products
Stringent adherence to quality standards
Design, engineering & analysis capability
Best-in-class manufacturing infrastructure
Compliance with dynamic defence market demands in india
Technological prowess
Experience in reverse engineering, retrofitting & customisation
Note: Sample list
48
OUR MARINE PRODUCT PROFILE
Propulsion Shafting System
Engine
Winches and Deck Machinery
Propeller
Gearbox
Gas Turbine Generator
Fin Stabiliser
Steering Gear
Rudder
49
POWER TRANSMISSION BUSINESS PERFORMANCE OVER THE YEARS
Revenue CAGR of 19% p.a. between FY 20-25
PBIT CAGR of 21% p.a. between FY 20-25
370
292
225
185
154
130
31.5%
31.4%
34.8%
33.9%
36.7%
34.3%
127
107
76
64
49
41
140.0
120.0
100.0
80.0
60.0
40.0
20.0
₹ crore
40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0%
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
Profit Before Interest & Tax (PBIT)
PBIT Margin
Order Booking CAGR of 25% p.a. between FY 20-25
475
375
251
264
157
158
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
50
POWER TRANSMISSION: STELLAR PERFORMANCE IN FY 25
REVENUE
+26.8%
PBIT
+18.4%
+58.3%
+39.2%
369.9
291.8
107.1
126.8
88.2
139.6
33.4
46.5
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 FY 24 Q4 FY 25
FY 24
FY 25
•
•
Increase in FY 25 turnover by 26.8% on y-o-y basis driven by growth in both product and aftermarket segments.
PBIT for the business grew at 18.4% to ₹ 126.8 crore with PBIT margins of 34.3%
₹ Crore
51
POWER TRANSMISSION: RECORD CLOSING ORDER BOOK
ORDER BOOKING
CLOSING ORDER BOOK
₹ Crore
+26.6%
475.4
375.4
+15.3%
135.0
155.7
+35.5%
389.4
287.4
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 / FY 24
Q4 / FY 25
FY 25 order booking grew 26.6% to ₹ 475.4 crore while closing order book increased 35.5% over the last year.
• • 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 ₹ 389.4 crore as on March 31, 2025 including long duration orders of ₹ 178.3 crore.
52
POWER TRANSMISSION BUSINESS INITIATIVES
The Power Transmission business is executing capacity additions that would take the Gears capacity (not including Defence) to ₹700 crore by September 2026. The existing capacity is ₹400 crore.
GEARING FOR FUTURE GROWTH
Investments towards new bay (grinder/ hobber/ equipment) for both power transmission & defence products
Expansions include setting up dedicated Aftermarket bay at existing facility
Expansions include setting up a new multi-modal facility, dedicated to Defence products
53
WATER SOLUTIONS
OUR WATER BUSINESS PROFILE
• A water solutions platform, with capabilities across the water and wastewater treatment value chain – EPC projects,
products, solutions, concessions and O&M
• The division has been operating for 40+ years, with a history of inhouse product development, relationships with key Indian
institutions and global partnerships
Business Highlights
12,000+ MLD Wastewater treated
100+ Projects executed
1,500+ Pan-India Installations
Wastewater Treatment • Municipal sewage Industrial effluent • Sludge treatment • • Biogas handling
Key Offerings
Water Treatment • Municipal water • •
Sea water Industrial process water
• High purity water Intake works •
Water Recycle, ZLD & Desalination
• Municipal sewage
•
recycling Industrial wastewater recycling
• Water desalination
55
OUR WATER BUSINESS HIGHLIGHTS
• Offers a complete range of water & wastewater treatment solutions to both industrial & municipal segments in EPC and PPP
models
• Undertakes specialized projects across desalination, recycling, ZLD and utility management for water & sewerage networks
• Recurring revenue streams via long-term O&M contracts
• Key Project Offerings:
•
EPC: End to End Turnkey offerings (100+ projects)
• DBO: EPC and operational management (60+ projects)
•
PPP: Portfolio of 2 HAM projects operational
• Key Industries: Municipal STP/WTP, Power, Oil & Gas, Chemicals, Textiles, Steel, Non-ferrous and Desalination Industries
• Key Regions: India, SAARC, Middle East, Europe and Africa
•
Inhouse manufacturing capacity in NCR for specific equipment manufacturing
56
PROMISING LONG-TERM GROWTH OUTLOOK FOR WATER TREATMENT IN INDIA
Strong Regulatory Push
Increasing Urbanization with Focus on Quality
Increasing Demand for Recycled Water
Resurgence of Traditional Industrial Segments
Increased Sewage Treatment Capacities
Industrial Wastewater Treatment Compliance
Desalination Opportunity
57
WATER: HEALTHY CLOSING ORDER BOOK
REVENUE
PBIT
CLOSING ORDER BOOK*
₹ Crore
-4.9%
+4.4%
+30.8%
+41.8%
-16.1%
246.3
234.2
66.3
94.0
15.6
13.1
31.4
32.8
1223.4
1600.8
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 FY 24 Q4 FY 25
FY 24
FY 25
Q4 / FY 24
Q4 / FY 25
•
•
•
Revenues declined due to delay in slow execution in certain projects and delay in receipt of new projects.
PBIT stood at ₹ 32.8 crores in FY 25, higher by 4.4 % y-o-y. The higher profitability was driven by cost optimization /savings
in various projects executed during the year.
The outstanding order book as on March 31, 2025 stood at ₹ 1600.8 crore, which includes ₹ 1120 crore towards O&M
contracts for a longer period of time.
Note: These 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. *Including long duration orders for Operations & Maintenance (O&M)
58
SHAREHOLDING PATTERN
SHAREHOLDING PATTERN
Promoter Group, 60.98%
Foreign Portfolio Investors, 5.58%
Mutual Funds + AIF, 9.47%
Resident Individuals, 19.36%
Corporate Bodies, 1.96%
NRI, 1.95%
Others, 0.70%
Note: As at end of the quarter ending March 31, 2025. Others comprise of Clearing members, HUF, Trust, IEPF, Key Managerial Personnel, Banks, NBFCs, Insurance Companies, etc.
60
ANNEXURES
RATIONALE FOR TEIL AMALGAMATION WITH SSEL & SWAP RATIO
Synergies The proposed amalgamation will create and provide operational synergies, economies of scale, optimum utilization of resources, simplification of business processes, elimination of duplication and rationalization of administrative expenses, which will lead to savings in the costs
Reducing compliance related costs It will result in reduction of multiplicity of entities, thereby reducing compliance cost of multiple entities viz., statutory filings, regulatory compliances, labour law/ establishment related compliances
Consolidation of Operations Both the companies have manufacturing verticals of sugar and distillery; therefore, the proposed amalgamation of the Amalgamating Company into the Amalgamated Company would lead to the consolidation of all operations pertaining to the manufacture of the sugar, alcohol, ethanol in one entity
Value Creation It will help in achieving consolidation, greater integration and flexibility that will maximize overall shareholder's value and improve the competitive position and negotiating power of the combined entity
(A) TEIL will issue 100 equity shares of face value of INR 1 each to shareholders of SSEL for every 137 equity shares held in SSEL of
face value of INR 10 each
(B) Shareholding held by TEIL in SSEL (i.e. SSEL Promoter Shareholding) shall get cancelled pursuant to the Scheme
62
RATIONALE FOR DEMERGER OF POWER TRANSMISSION BUSINESS & RATIO OF ISSUE OF EQUITY SHARES BY TPTL
Sharpened Focus The PTB and the Residual Business (defined in the Scheme) address different market segments with unique opportunities and dynamics in terms of business strategy, customer set, geographic focus, competition, capabilities set, talent needs and distinct capital requirements. The transfer of the PTB Undertaking into the Resulting Company will enable each business to sharpen its focus and organize its activities and resources to improve its offerings to their respective customers. This would help to improve its competitiveness, operational efficiency, agility and strengthen its position in relevant markets resulting in more sustainable growth and competitive advantage
Competitive Position and Market Penetration PTB has attained a significant size, scale and has a large headroom for growth in its market. As PTB is entering the next phase of growth, the transfer and vesting of the PTB Undertaking into the Resulting Company pursuant to this Scheme would result in focused management attention and efficient administration to maximize its potential
Value Unlocking Further, as PTB has separate growth trajectories, risk profile and capital requirement, the segregation of the PTB Undertaking and the Residual Business will enable independent value discovery and lead to unlocking of value for each business
TPTL will issue 1 equity share of face value INR 2 each to shareholders of TEIL for every 3 equity shares of face value INR 1 each held in TEIL, provided that the Existing Equity Shares held by TEIL shall continue to be held by TEIL in TPTL.
63
CHRONOLOGICAL TRANSACTION MILESTONES
• Approval of the Board of Directors on recommendation of Audit Committee & Independent Directors to
the Scheme
• Filing of Application with Stock Exchanges for No Objection • Filing the Scheme along with Application with NCLT for issuance of summons for directions on convening/ conducting/ dispensing meetings of shareholders and creditors; Hearing and receipt of the NCLT order
• Meetings of shareholders & creditors (where required) • Filing of petition with NCLT for sanction of the Scheme • Listing of matter before NCLT and Issuing of Notices to relevant statutory authorities and publication in
the newspapers
• Filing of replies/NOC by the relevant statutory authorities • Final hearing of NCLT for approval of Scheme • Filing of NCLT order with Registrar of Companies • Filing of Listing Application with the Stock Exchanges for listing and trading of shares allotted pursuant to
the Scheme
• Listing and Trading of Equity shares of Resulting Company and new shares of Amalgamated Company
[Kindly note that these consist of only the key steps of the process involved in the Scheme, and is not exhaustive in nature]
64
INVESTOR CONTACT
Surabhi Chandna/Himanshu Sharma 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
65
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.
66
COMMONLY USED TERMS
Term
AGMA
Alcohol
API
ASP
Bagasse
B-Heavy Molasses
Bio-ethanol
BNR
BOD
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
These are molasses produced from 2nd stage (B-massecuite) pan boiling during production of sugar
Ethanol used for blending in low concentration in gasoline
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.
67
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
Grain distillery
GTG
HAM
ID-FD
IMIL
MBBR
MEE
MoEF & CC
Molasses
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
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
Hybrid Annuity Model
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
68
COMMONLY USED TERMS
Term
Definition
Multi-feed distillery
NGT
O&M
OMC
Distillery producing Ethanol / Alcohol using various feedstocks such as sugarcane juice/syrup, B-Heavy molasses,
C-Heavy molasses, grains such as maize, surplus rice, broken rice and other damaged food grains
National Green Tribunal
Operations & Maintenance
Oil Marketing Companies
Potable alcohol
Highly purified alcohol with very neutral odor and taste
Rectified spirit
RO
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
69
70