Triveni Engineering & Industries Limited has informed the Exchange about Investor Presentation
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Plvenl ENGINEERING & INDUSTRIES L TO.
'- +91 1204308100 lit +91 1204311010/11 e www.trivenigroup.com
REF TElL SE BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai - 400001 Thru: BSE Listing Centre
ay,
2025
D t 27th M
a e: National Stock Exchange of India Limited Exchange Plaza, C-l, Block G Bandra Kurla Complex, Bandra (E) Mumbai - 400 051 Thru: NEAPS
Scrip Code: 532356 Sub: Investors' brief for Q4 & FY25 ended March 31,2025
Symbol: TRIVENI
Dear Sirs,
We send herewith a copy of investors' brief on the performance of the Company for the Q4 & FY25 (consolidated) ended March 31,2025 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
Encl: As above
Corporate Office: 8'h Floor, Express Trade Towers, Plot 15 & 16, Sector 16-A, Noida, Uttar Pradesh - 201301, India. Registered Office: A-44, Hosiery Complex, Phase-II Extenslon, Noida-201 305, Uttar Pradesh. CIN No.: L 15421 UP1932PLC02217 4
GEETA BHALLADigitally signed by GEETA BHALLA Date: 2025.05.27 19:43:44 +05'30' Registered office: A-44, Hosiery Complex, Phase-II Extension, Noida-201 305, Uttar Pradesh, India. Corporate office: Express Trade Towers, 8th floor, 15-16, Sector 16A, Noida 201301, Ph: 0120-4308000, Fax: 0120-4311011 CIN: L15421UP1932PLC022174
For Immediate Release
FY 25 Consolidated Results ended Mar 31, 2025
• 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 • Board recommended a final dividend of ₹ 2.50 per equity share
Annual Performance Highlights:
▪ Net turnover is higher by 9%, driven by higher Sugar, Alcohol and Power Transmission business
revenues. However, Profit Before Tax (PBT) is lower by 39% due to reduced profitability in Sugar
and Alcohol businesses.
▪ 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.
▪ A new multi-feed distillery was commissioned during the year at Rani Nangal. There was no
change in the ethanol prices for the Ethanol Supply Year (ESY) 2024-25 except for ethanol
produced from C-heavy Molasses. In view of firm sugar realisation prices, all sugar units’
operations (except one) were switched to C-heavy molasses from B-heavy molasses in the latter
part of the season.
▪ 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.
▪ Turnover of Water business declined due to slow execution in certain projects but order booking
during the year was strong at ₹ 586.2 crore, with a closing order book of ₹ 1600.8 crore at the
end of the financial year, up 30.8% y-o-y.
1
Outcome of the Board Meeting:
▪ The Board of Directors of the Company has recommended a final dividend of 250% (₹ 2.50 per
equity share of the face value of ₹ 1 each) for the FY 2024-25, which is subject to the shareholder's
approval in the ensuing annual general meeting.
NOIDA, May 27, 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 fourth
quarter & full year ended Mar 31, 2025 (Q4 & 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: Q4/FY 25 (Consolidated Results)
Q4 FY 25 Q4 FY 24 Change %
FY 25
FY 24
Change %
In ₹ crore
Revenue from Operations (Gross)
1,925.3
1,548.1
24.4
6,807.9
6,151.4
10.7
Revenue from Operations (Net of excise duty)
1,629.3
1,302.1
25.1
5,689.2
5,220.1
9.0
EBITDA
317.4
261.2
21.5
533.8
688.4
-22.5
EBITDA Margin
19.5%
20.1%
Share of income from Joint Venture
0.0
Profit Before Tax (PBT)
Profit After Tax (PAT)
255.2
187.1
0.5
216.7
161.0
Other Comprehensive Income (Net of Tax)
(0.4)
9.7
Total Comprehensive Income
186.8
170.7
EPS (not annualised) (₹/share)
8.55
7.36
9.4%
13.2%
0.1
0.2
324.2
529.0
238.3
395.2
(6.6)
10.1
-50%
-38.7
-39.7
231.6
405.3
10.88
18.05
-42.8
-39.7
17.7
16.2
9.4
16.1
• Net turnover for FY 25 is higher by 9%, driven by higher revenues across Sugar, Alcohol and Power
Transmission businesses. Sugar business reported 2.8% increase in turnover over the previous year mainly
due to higher realisation prices. The net turnover of Alcohol business increased 15.7% due to
commissioning of a new multi-feed distillery at Rani Nangal and improved average realizations. Power
Transmission business reported strong growth of 26.8% in its turnover. The turnover of water business
declined marginally by 4.9%.
• Profit Before Tax is 38.7% lower at ₹ 324.2 crore and Profit after Tax is at ₹ 238.3 crore.
• Segment profits (PBIT) of Sugar business declined by 12.8% over the previous year 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.
2
• The profitability of the Alcohol business was adversely affected 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. Further, the segment profits are net of segment loss of Sir Shadi Enterprises Limited
(SSEL).
• Power Transmission and Water business reported 18.4% and 4.4% growth in segment profits.
• The gross debt as on March 31, 2025, on a standalone basis has increased to ₹ 1689.1 crore as compared
to ₹ 1324.7 crore as on March 31, 2024. Standalone debt at the end of the period under review, comprises
term loans of ₹ 328.44 crore, out of which loans of ₹ 201.8 crore are with interest subvention. On a
consolidated basis, the gross debt is at ₹ 1969.2 crore as on March 31, 2025 as compared to ₹ 1411 crore
as on March 31, 2024, including ₹ 202.6 crore pertaining to the subsidiary SSEL. Overall average cost of
funds (standalone) is at 6.9% during FY 25 as against 6.5% in the previous year.
Commenting on the Company’s financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing
Director, Triveni Engineering & Industries Ltd, said:
“The year gone by presented several profitability challenges to the Company especially in the Sugar and Alcohol
businesses while our Power Transmission business delivered another year of stellar performance in revenues,
profitability and order booking. The Company is hopeful of an improved performance in the coming year through
proactive measures in our Sugar and Alcohol businesses.
Following the general trend of lower sugarcane crush and recoveries in the state of Uttar Pradesh, the sugarcane
crush for the Company (on a standalone basis) in the just concluded Sugar Season (SS) 2024-25 was marginally
lower at 8.19 million tonnes. The decline in crush took place in four sugar units: Rani Nangal, Milak Narayanpur
and Chandanpur in the Central UP and Ramkola in the Eastern UP. The chief reasons are the climatic factors,
such as, heavy rainfall and water logging in certain regions & spread of pests and red rot disease, which reduced
the yields and recovery considerably. The sugarcane development teams have chalked out multi-pronged
strategy to improve performance through intensive continued push for varietal substitution programme to
reduce the proportion of vulnerable variety Co238, especially in low-lying/ water-logging prone areas and to
substitute it by other high sucrose and high yield varieties. In addition, our focus would also be on crop protection
through rigorous surveillance and large-scale preventives, extensive farmer engagement especially on nurtured
demo plots to showcase higher yields, through superior agronomic practices.
Sugar prices have remained at healthy levels during FY 25, particularly in Q4 FY 25. We expect these trends to
continue given the lower sugar stocks in the country on a year-on-year basis. We believe that a continually
increasing portfolio of refined sugar and pharmaceutical-grade sugar production, which now stands at 73% of
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overall sugar production, augurs well for sugar realisations for the Company. We continue to make judicious
investment in our facilities to enhance sugarcane crush rate, sugar quality and efficiencies.
In our Alcohol business, the Company commissioned a new multi-feed distillery during the year at Rani Nangal
which boosted production over the previous year. However, the profitability was severely affected majorly due
to low margin maize operations, lower sales volume of ethanol produced from molasses and non-recovery of
fixed expenses during the period the distilleries remained closed due to shortage of feedstocks. In view of firm
sugar prices, we switched operations in our sugar units (except one) to C-heavy molasses in the latter part of the
season. While this strategy improves the overall profitability of the Company, it reduces the profitability of
Alcohol business due to lower sales volume of ethanol. We are focusing on improving the sugarcane crush which
will also help in increasing molasses availability and address supply chain issues relating to grain operations to
improve the margin structure. With the option of three grain feedstocks – maize, SFG and Damaged Food Grains
(DFG) – we are aiming to be nimble to seize all opportunities to lower procurement cost. We are also hopeful
that the Government will address the feedstock and profitability challenges in various feedstocks as it remains
committed to Ethanol Blended Petrol (EBP) programme with the formation of an inter-ministerial group to work
on roadmap beyond EBP-20 i.e. 20% blending targets by 2025-26.
In our Engineering businesses, the Power Transmission business reported remarkable performance with new
milestones achieved with respect to revenues, profitability and order booking in FY 25. During the year, the
Company also secured multiple breakthrough qualification orders across targeted geographies and industries in
Gears, enhancing its competitive positioning and supporting its strategic objective of expanding its global
footprint. The business is also executing expansions to scale up operations to an annual capacity in the Gears
segment alone to ₹ 700 crore (up from ₹ 400 crore presently) by September 2026. Our intensified marketing
efforts globally coupled with the capacity enhancement programme are positioning us well for sustained growth.
In the Water business, the year went by was muted in terms of market activity and finalization of orders. We
expect this to improve in the coming years and the business is well-placed in terms of bids and credentials.
The proposed Scheme for amalgamation with SSEL and demerger of the Power Transmission business is awaiting
approval of stock exchanges / SEBI. The Scheme 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
Q4/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 (%)
Sugarcane Crush (Million Tonnes) Gross Recovery (%) Net Recovery (%) Sugar Production (Tonnes)
8.19 10.80 10.13 829204
8.26 11.49 10.78 890126
-0.8
-6.8
SSEL:
Sugar Season 2024-25
Sugarcane Crush (Million Tonnes) Gross Recovery (%) Net Recovery (%) Sugar Production (Tonnes)
0.86 10.79 10.12 86856
Consolidated:
Sugar Season 2024-25
Sugar Season 2023-24
Change (%)
Sugarcane Crush (Million Tonnes) Gross Recovery (%) Net Recovery (%) Sugar Production (Tonnes)
9.05 10.80 10.13 916060
8.26 11.49 10.78 890126
9.6
2.9
Triveni:
Q4 FY 25
Q4 FY 24
Change %
FY 25
FY 24
Change %
Sugar Dispatches (Tonnes)
- Domestic - Exports - Total
Average Blended Realisation (₹/MT)* Revenue (₹ crore) PBIT (₹ crore)
196700 - 196700 40433 986.0 201.1
198204 - 198204 38429 927.5 158.3
-0.8
-0.8 5.2 6.3 27.1
850158 - 850158 39216 3802.9 265.0
841084 14531 855615 38175 3857.9 305.6
1.1
-0.6 2.7 -1.4 -13.3
*including export realisations as applicable
5
SSEL (considered for consolidation):
Sugar Dispatches (Tonnes)
- Domestic
Average Blended Realisation (₹/MT)
Revenue (₹ crore) PBIT (₹ crore)
Consolidated:
Q4 FY 25
FY 25
18896
40002
92.7 22.5
36400
38646
164.0 1.5
Sugar Dispatches (Tonnes)
Q4 FY 25
Q4 FY 24
Change %
FY 25
FY 24
Change %
- Domestic - Exports - Total
215595 - 215595 40395 1078.7 223.6 *including export realisations as applicable
Average Blended Realisation (₹/MT)* Revenue (₹ crore) PBIT (₹ crore)
198204 - 198204 38429 927.5 158.3
8.8
8.8 5.1 16.3 41.3
886558 - 886558 39192 3967.0 266.5
841084 14531 855615 38175 3857.9 305.6
5.4
3.6 2.7 2.8 -12.8
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.
• 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.
•
Income through third party exports – ₹ 15.4 crore at TEIL and ₹ 1.5 crore at SSEL
• 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.
• Co-generation operations (including incidental co-generation) achieved 5% lower external sales at ₹ 54.3
crore.
Industry Scenario – Domestic
• SS 2024-25 sugar production estimates: As of May 15, 2025, India’s net sugar production for the SS 2024-
25 stood at 25.7 million tonnes with two sugar factories operational in Tamil Nadu. To augment production,
several factories in South Karnataka and Tamil Nadu are expected to resume operations during the special
crushing season, which typically runs from June/July to September. The estimated total sugar production
for the season is likely to be close to 26.4 million tonnes. As of April 30, 2025, 2.7 million tonnes of sugar
had already been redirected for ethanol production, with another 0.6 to 0.7 million tonnes expected to be
diverted by season-end. This implies a gross sugar production of 29.9 million tonnes for SS 2024-25, a
decline of ~12% over the previous season.
• Comfortable closing stocks of 5.8 million tonnes for SS 2024-25: With an opening balance of around 8.4
million tonnes as on October 1, 2024, net sugar production of around 26.4 million tonnes, and domestic
6
sales of around 28 million tonnes, allowed exports of 1 million tonne, the closing stock is expected at a
comfortable 5.8 million tonnes. The net sugar production measure takes into consideration diversion of
about 3.5 million tonnes of sugar equivalent into ethanol (as stated above).
Industry Scenario – International
• Global Sugar Balance Sheet pointing to deficit: As per recent estimates from Datagro, the global sugar
balance is estimated to be in surplus of ~1.53 million tonnes in 2025-26 after a global deficit of ~4.67 million
tonnes in 2024-25. This is on account of improved supplies from key producing nations, such as Brazil and
Thailand, along with sufficient production in India. Datagro forecasts Brazil’s CS sugar production in 2025-
26 to reach 42.04 million tonnes, up from 40.17 million tonnes the previous season. India’s output is
projected to grow to 31.6 million tonnes from 26 million tonnes, while Thailand’s production is expected to
rise to 11.18 million tonnes from 10.05 million tonnes.
•
International sugar prices: On an average, the international sugar prices declined by 20% during FY 25.
Prices have trended downwards due to emergence of expectations of a global sugar surplus, apart from
varying regional trends. As on May 15, 2025, the NY #11 front month contract was trading at US 17.9
cents/lb, the lowest in sixteen quarters, while London #5 was trading at $499.5 per tonne.
NY#11 & London#5 Price Trend From 01 Jan 2024 - 15 May 2025
720
680
640
600
560
520
480
440
400
26 25 24 23 22 21 20 19 18 17 16 15 14 13
4 2 n a J 1 0
4 2 n a J 6 1
4 2 n a J 1 3
4 2 b e F 5 1
4 2 r a M 1 0
4 2 r a M 6 1
4 2 r a M 1 3
4 2 r p A 5 1
4 2 r p A 0 3
4 2 y a M 5 1
4 2 y a M 0 3
4 2 n u J 4 1
4 2 n u J 9 2
4 2
l
u J 4 1
4 2
l
u J 9 2
4 2 g u A 3 1
4 2 g u A 8 2
4 2 p e S 2 1
4 2 p e S 7 2
4 2 t c O 2 1
4 2 t c O 7 2
4 2 v o N 1 1
4 2 v o N 6 2
4 2 c e D 1 1
4 2 c e D 6 2
5 2 n a J 0 1
5 2 n a J 5 2
5 2 b e F 9 0
5 2 b e F 4 2
5 2 r a M 1 1
5 2 r a M 6 2
5 2 r p A 0 1
5 2 r p A 5 2
5 2 y a M 0 1
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
Alcohol (Distillery) business
The Company has state-of-the-art distilleries spread across Muzaffarnagar (MZN) – 2 facilities, Sabitgarh (SBT),
Milak Narayanpur (MNP) and Rani Nangal (RNG) 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.
7
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)
Q4 FY 25 Q4 FY 24
Change %
FY 25
FY 24
Change %
63732 62256 62.9
14.8
747.5 451.7 24.0
49069 44878 61.1
11.8
572.8 326.8 42.0
29.9 38.7 2.9
25.7
30.5 38.2 -42.8
200083 200568 62.6
55.7
2586.0 1467.3 46.1
184351 182707 59.0
44.7
2204.9 1273.6 180.9
8.5 9.8 6.1
24.5
17.3 15.2 -74.5
Q4 FY 25 Q4 FY 24
Change %
FY 25
FY 24
Change %
63732 62256 62.9
14.8
747.5 451.6 23.3
49069 44878 61.1 11.8
572.8 326.8 42.0
29.9 38.7 2.9
25.7
30.5 38.2 -44.4
200083 201568 62.6
55.7
2592.2 1473.5 39.7
184351 182707 59.0
44.7
2204.9 1273.6 180.9
8.5 10.3 6.1
24.5
17.6 15.7 -78.1
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. Further,
the distillery of SSEL has not operated in the SS 2024-25 in view of extensive repairs
• During the year, net turnover in Alcohol business increased 15.7% due to commissioning a multi-feed
distillery at Rani Nangal distillery and improved average realisations in view of product-mix having larger
proportion of maize as a feedstock.
•
•
IMIL business also contributed to the turnover driven by 24.5% higher dispatches (55.7 lakh cases in FY 25
as compared to 44.7 lakh cases in FY 24).
In view of firm sugar prices, the sugar operations were carried out largely with C-heavy molasses in the later
part of the season 2024-25.
• The profitability of the Alcohol business was adversely affected 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. Further, the segment profits (PBIT) are including segment loss of ₹ 6.5 crore pertaining
to SSEL distillery, which did not operate during the Sugar Season 2024-25.
8
• Ethanol constituted 92% of alcohol sales during FY 25, as compared to 93% last year.
• 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).
Domestic Industry Scenario
• For Ethanol Supply Year (ESY) 2024-25 (Nov-Oct), Oil Marketing Companies (OMCs) have executed contracts
for ~997 crore litres as compared to supplied quantities of 673 crore litres in ESY 2023-24, representing a
~48% y-o-y increase.
• The proportion of ethanol from grain-based feedstocks contracted in current ESY tender is 66% of which
maize itself is 49% which is higher than ethanol from all sugarcane-based feedstocks put together.
• The achieved blending percentage in ESY 2024-25 as of March 31, 2025, stood at 18.36%, while blending
percentage for the month of April 2025 stood at 19.70%.
• There was no change in the ethanol prices for the Ethanol Supply Year (ESY) 2024-25 except for ethanol
produced from C-heavy Molasses which remains a concern for the industry.
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
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.
Performance
Q4 FY 25
Q4 FY 24
Change %
FY 25
FY 24
Change %
Revenue (₹ crore) PBIT (₹ crore) Order Booking (₹ crore) Closing Order Book (₹ crore)*
139.6 46.5 155.7 389.4
88.2 33.4 135.0 287.4
58.3 39.2 15.3 35.5
369.9 126.8 475.4 389.4
291.8 107.1 375.4 287.4
26.8 18.4 26.6 35.5
*including long duration orders
•
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%
• A strong share of aftermarket has been sustained thus helping to maintain the overall profitability of
the business
9
• 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.
Outlook
•
India’s economic growth is likely to sustain its momentum, with major investments being realised in
infrastructure development. Thus, Steel, Cement, Oil & Gas and other process industries are likely to
fuel growth, even as India is emerging as an attractive manufacturing hub for the global majors.
Geopolitical factors are also favouring India’s growth story.
• PTB’s growth is being realised not only from the growing economy and India’s emergence as a
manufacturing hub but also from the gain in the overseas market share, as well as forays into new
product applications.
•
In FY 25, Triveni amplified its focus on exports by leveraging its own technology and the fact that its
products are qualified by all major global OEM customers. The diligence process included stringent
qualification criteria, and the successful qualifications achieved through execution of initial orders
during the year underlined Triveni’s growing acceptance in the international market. Triveni’s
competitive technology, along with its cost and quality leadership, are the major drivers of its leadership
position, not just in the domestic market but also in the high potential export markets from where
Triveni expects major growth in the coming years.
• The Government of India’s continuing thrust on Atmanirbhar Bharat and Make in India programmes
directly opens up a plethora of opportunities for indigenisation of imported gearbox installations in all
the public sector units. This is expected to be a growth driver for the Aftermarket business as well as
Defence.
•
In Defence, Triveni’s presence in multiple product lines and partnerships positions it ideally for
participation in many upcoming ship building projects of Indian Navy and Indian Coast Guard. Further,
Triveni’s strength in providing complex engineered products and solutions, developed over the last
many decades, shall be leveraged to venture into very diverse product lines and other services as well
in the future.
Water business
Water Business Group (WBG) of Triveni is one of India’s leading businesses 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 across municipal and industrial sectors. The business has engineering roots and
10
constantly invests in new technologies to ensure quality with faster deliveries at an optimised lifecycle cost for
its products & services. The business has carried out successful execution of more than 100 turnkey projects
and over 1500 equipment installations pan-India, 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
Q4 FY 25
Q4 FY 24
Change %
FY 25
FY 24
Change %
Revenue (₹ crore) PBIT (₹ crore) Orders Received (₹ crore) Closing Order Book (₹ crore)* * including long duration orders for Operations & Maintenance (O&M)
94.0 13.1 - 1,600.8
66.3 15.6 9.5 1,223.4
41.8 -16.1
30.8
234.2 32.8 586.2 1,600.8
246.3 31.4 38.6 1,223.4
-4.9 4.4 1418.7 30.8
• 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 slow execution in certain projects and delay in receipt of new projects.
• PBIT stood at ₹ 32.8 crore 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.
• PBIT margins stood at 14.0% for the year, up ~124 bps y-o-y
• Order booking during the year was strong at ₹ 586.2 crore excluding a project Letter of award which was
revoked recently due to administrative reasons which is being pursued for favourable consideration.
• 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.
Outlook
• Supported by extensive funding support from Central & State Governments including from external sources,
new opportunities are also 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 provide good size opportunities.
• 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.
11
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) and Rani Nangal (RNG) 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.
12
For further information on the Company, its products and services please visit www.trivenigroup.com
Surabhi Chandna/ Himanshu Sharma 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.
13
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Regd. Office: A-44, Hosiery Complex, Phase-Il Extension, Noida, Uttar Pradesh - 201305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 CIN : L15421UP1932PLC022174
Statement of Standalone Audited Financial Results for the Quarter and Year ended March 31, 2025
I
Particulars
1 Revenue from operations
2 Other income
Total income
3 Expenses
(a) Cost of materials consumed
(h) 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 ProfiV(loss) from continuing operations before exceptional items and tax 5 Exceptional items (net) - income/ (expense)
6 ProfiV(loss) from continuing operations before tax 7 Tax expense
(a) Current tax (h) Deferred tax Total tax expense
8 ProfiV(loss) from continuing operations after tax 9 Profit/ (loss) from discontinued operations 10 Tax expense of discontinued operations 11 Profit/ (1055) from discontinued operations (after tax) 12 ProfiV(loss) for the period
13 Other comprehensive income
I
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
B (i) Items that will be reclassified to profit or loss B (ii) Income tax relating to items that will be reclassified to profit or loss
Other 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 armualised for the quarters)
(a) Basic (in~) (h) Diluted (in ~)
See accompanying notes to the standalone financial results
3 Months ended
31jDer/2024 (Unaudited)
31/Marj2025 (Audited) (refer note 5)
31/Marj2024 (Audited) (refer note 5)
(" in crores, except per share data)
Year ended
31/Marj2025 (Audited)
31/Mar/2024 (Audited)
1845.29 11.67 1856.96
1982.67 7.86
(1026.84)
295.99 122.47 24.01 30.86
180.76 1617.78 239.18 - 239.18
52.59 11.55 64.14 175.04 - - - 175.04
(1.22) (0.31) 0.82 0.20 (0.29)
174.75 21.89
8.00 8.00
1548.00 18.16 1566.16
1389.43 8.14
(533.47)
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
- - (1.00) (0.24) (0.76) 55.93 21.89
2.59 2.59
1547.52 11.42 1558.94
1788.85
16.63
(1024.77)
245.99 108.58 15.94 26.94
165.86 1344.02 214.92 - 214.92
52.02 3.08 55.10 159.82 - - - 159.82
10.62 1.10 0.18 0.05 9.65 169.47 21.89
7.30 7.30
6655.40 44.95 6700.35
4082.25 27.08
(83.11)
1118.70 415.37 67.80 120.00
614.62 6362.71 337.64 - 337.64
74.75 14.47 89.22 248.42 - - - 248.42
(6.56) (0.92) (0.28) (0.07) (5.85) 242.57 21.89 3084.72
11.35 11.35
6149.14 45.29 6194.43
3968.45 57.09
(426.10)
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
17.89 17.89
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Standalone Audited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Year ended March 31, 2025
Particulars
3 Months ended 31/Decj2024 (Unaudited)
31/Mar/2025 (Audited) (refer note 5)
31/Mar/2024 (Audited) (refer note 5)
(~ in crores)
Year ended
31/Mar/2025 (Audited)
31/Mar/2024 (Audited)
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) Finance costs (ii) Other unallocable expenditure net of unallocable income
Total Profit/(Ioss) before tax
3 Segment Assets
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses
Power transmission Water
(c) 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
985.97 747.64 1733.61
139.59 93.66 233.25
52.11
2018.97 173.68 1845.29
201.12 24.01 225.13
46.45 13.16 59.61
0.48
285.22
24.01 22.03 239.18
3270.19 1186.29 4456.48
372.66 447.13 819.79
9.47
5285.74 394.27 5680.01
324.06 97.63 421.69
103.93 168.47 272.40
2.28
696.37 1877.03 2573.40
874.06 652.87 1526.93
73.41 49.18 122.59
52.43
1701.95 153.95 1548.00
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
927.51 572.80 1500.31
88.18 65.72 153.90
49.46
1703.67 156.15 1547.52
158.28 41.96 200.24
33.37 15.53 48.90
0.08
249.22
15.94 18.36 214.92
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
3802.90 2585.96 6388.86
369.89 233.38 603.27
199.80
7191.93 536.53 6655.40
265.04 46.14 311.18
126.80 34.28 161.08
0.00
472.26
67.80 66.82 337.64
3270.19 1186.29 4456.48
372.66 447.13 819.79
9.47
5285.74 394.27 5680.01
324.06 97.63 421.69
103.93 168.47 272.40
2.28
696.37 1877.03 2573.40
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
Standalone Statement of Assets and Liabilities
Particulars
ASSETS 1 Non-current assets
(a) Property, plant and equipment (b) Capital work-in-progress (c) Investment property (d) Other intangible assets (e) Financial assets (i) Investments (ii) Trade receivables (iii) Loans (iv) Other financial assets (f) Other non-current assets
2 Current assets (a) Inventories (b) Financial assets
(i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than cash and cash equivalents (iv) Loans (v) Other financial assets
(c) Other current assets
TOTAL - ASS ETS
EQUITY AND LIABILITIES EQUITY
(a) Equity share capital (b) Other equity
LIABILITIES 1 Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities
(b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities
2 Current liabilities
(a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables
- total outstanding dues of micro enterprises and
small enterprises
- total outstanding dues of creditors other than
micro enterprises and small enterprises
(iv) Other financial liabilities
(b) Other current liabilities (c) Provisions (d) Current tax liabilities (net)
TOTAL- EQUITY AND LIABILITIES
(~ in crores)
As at 31/Marj2025 (Audited)
As at 31/Marj2024 (Audited)
1865.88 31.02 3.75 2.32
149.32 0.82 157.59 22.98 35.61 2269.29
1501.69 225.70 4.42 2.05
102.51 0.82 29.04 20.47 45.35 1932.05
2564.57
2419.94
511.59 32.32 0.44 1.50 13.22 287.08 3410.72 5680.01
336.52 71.11 1.41 0.53 10.95 237.12 3077.58 5009.63
21.89 3084.72 3106.61
21.89 2869.51 2891.40
240.22 8.13 17.92 134.02 17.89 418.18
171.24 7.57 15.40 120.54 16.83 331.58
1448.89 2.88
1153.37 5.40
8.55
8.23
395.05
94.53 145.21 57.44 2.67 2155.22 5680.01
348.23
88.73 125.19 45.22 12.28 1786.65 5009.63
_
.s ~ 1& Noida ~·I '1_1.;J. * 'il'O~.
.~ cY ~
.~.
r-;
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Standalone Statement of Cash Flows
Particulars
Cash flows from operating activities Profit before tax Adjustments for:
Depreciation and amortisation expense Bad debts written off - trade receivables carried at amortised cost Bad debts written off - other financial assets carried at amortised cost Impairment loss allowance on trade receivables and other financial assets (net of reversals) Bad debts written off - non financial assets Impairment loss allowance on non financial assets (net of reversals) Provision for non moving/ obsolete inventory (net of reversals) Loss on sale/write off of inventory Net fair value (gains)/Iosses on investments Mark-to-market (gains)/Iosses on derivatives Credit balances written back Financial guarantee commission income Profit on sale of investment property Unrealised (gains)/Iosses from changes in foreign exchange rates Loss on sale/write off/impainnent of property, plant and equipment Net (profit)/Ioss on sale/redemption of investments Interest income Dividend income Finance costs
Working capital adjustments : Change in inventories Change in trade receivables Change in other financial assets Change in other assets Change in trade payables Change in other financial liabilities Change in other liabilities Change in provisions
Cash generated fronl/(used in) operations Income tax paid (net) Net cash inflow/(outflow) from operating activities
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets Proceeds from sale of property, plant and equipment Advance received against assets held for sale Investments in subsidiaries and joint ventures Investments (other than subsidiaries and joint ventures) Proceeds from disposal/redemption of investments (other than subsidiaries and joint ventures) Proceeds from sale of investment property
Loan to subsidiaries Repayment of loan by subsidiaries Decrease/ (increase) in deposits with banks Interest received Dividend received Net cash inflow/(outflow) from investing activities
Cash flows from financing activities Proceeds (rom long term borrowings Repayments of long term borrowings Increase/(decrease) in short term borrowings Interest paid (other than on lease liabilities) Payment of lease liabilities (interest portion) Payment of lease liabilities (principal portion) Buy-back costs Dividend paid Net cash inflow/(outflow) from financing activities
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year
(f in crores)
Year ended 31/Mar,fi025 (Audited)
Year ended 31/Mar/1024 (Audited)
337.64
523.99
120.00 1.00 - (1.04) 0.19 (7.60) (0.48) 0.25 (1.18) 0.35 (1.56) (0.32) (1.11) 0.44 3.05 (0.28) (11.03)
(0.06) 67.80
(144.41) (175.33) (0.30) (42.41) 47.74 10.15 20.22 13.52 235.24 (81.54 153.70
(286.01) 1.54 0.93 (51.16) - 0.47 1.47 (129.50) - (0.37) 7.91 0.06 (454.66)
168.00 (117.37) 313.79 (67.98) (0.99) (5.92) - (27.36\ 262.17
(38.79) 71.11 32.32
104.12 1.57 0.11 1.27 0.24 (0.28) 0.55 0.11 0.03 0.53 (4.60) (0.31) - (0.09) 0.53 (0.10) (18.62) (0.07) 46.96
(424.10) 46.41 1.39 32.16 (53.74) (2.78) (30.44) (6.70 218.14 (115.16 102.98
(356.56) 0.96 - (2.50) (35.00) 0.21 - - 2.25 0.33 15.04 0.07 (375.20)
136.44 (159.72) 523.00 (48.72) (1.26) (5.63) (0.08) (169.65 274.38
2.16 68.95 71.11
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Notes to the Standalone Audited Financial Results for the Quarter and Year ended March 31, 2025
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 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 ('TEIL'), 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.
4. The Board of Directors of the Company has recommended a final dividend of 250% (~ 2.50 per equity share of the face value of ~ 1 each) for the FY 2024-25, which is subject to the shareholder's approval in the ensuing annual general meeting.
5. The figures of the quarter ended March 31, 2025 and March 31, 2024 are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto the third quarter of the respective financial year(s), which were subjected to a limited review by the Statutory Auditors of the Company.
6. The figures of the previous year under various heads have been regrouped to the extent necessary.
7. The above audited standalone financial results of the Company for the quarter and year ended March 31, 2025 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 May 27, 2025. The results have been subjected to audit by the Statutory Auditors of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, who have issued an unmodified opinion on the same.
For Triveni Engineering & Industries Limited
Place: Noida Date : May 27, 2025
Dhruv M. Sawhney Chairman & Managing Director
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, U.P - 201301 CIN: L15421UP1932PLC022174
Statement of Consolidated Audited Financial Results for the Quarter and Year ended March 31, 2025
3 Months ended
Year ended
(" in crores, except per share data)
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 ProfiV(loss) from continuing operations before share of profiV(loss) of joint ventures,
exceptional items and tax
5 Share of profit/ (loss) of joint ventures 6 ProfiV(loss) from continuing operations before exceptional items and tax
7 Exceptional items (net) - income/(expense) 8 ProfiV(loss) from continuing operations before tax 9 Tax expense
(a) Current tax (b) Deferred tax
Total tax expense
10 ProfiV(loss) 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 ProfiV(loss) for the period
Profit/ (loss) for the period attributable to :
(i) Owners of the Company (ii) Non-controlling interests
I r 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 B (i) Items that will be reclassified to profit or loss B (ii) Income tax relating to items that w -ill be reclassified to profit or loss
Other comprehensive income for the period, net of tax Other comprehensive income for llie period, net of tax attributable to:
(i) Owners of the Company (ii) Non-controlling interests
16 Total comprehensive income for the period
Total comprehensive income for the period attributable to:
(i) Owners of the Company (ii) Non-controlling interests
17 Paid up equity share capital (face value ~ 1/-) 18 Other equity 19 Eamings/floss) per share of ~ 1/- each (not annualised for the quarters)
(a) Basic (in~) (b) Diluted (in ~)
See accompanying notes to the consolidated financial results
31/Mar/2025 31/Decf2024 31/Marf2024 31/Mar/2025 31/Mar/2024 (Audited) (refer note 7)
(Audited) (refer note 7)
(Unaudited)
(Audited)
(Audited)
1925.28 9.25 1934.53
2173.82 7.86 (1180.58) 295.99 131.38 30.11 32.11 188.69 1679.38
255.15
0.02 255.17 - 255.17
52.93 15.12 68.05 187.12 - - - 187.12
183.00 4.12
(1.36) (0.57) 0.81 0.39 (0.37)
(0.34) (0.03) 186.75
182.66 4.09 21.89
1600.30 23.90 1624.20
1449.63 8.14 (544.10) 331.98 114.16 10.55 33.02 163.38 1566.76
1548.12 15.55 1563.67
1788.85 16.63 (1024.77) 245.99 108.96 18.01 26.94 166.86 1347.47
57.44
0.12 57.56 - 57.56
17.16 (2.17) 14.99 42.57 - - - 42.57
48.12 (5.55)
(0.99) - (1.00) (0.44) (1.55)
(1.25) (0.30) 41.02
46.87 (5.85\ 21.89
216.20
0.54 216.74 - 216.74
52.24 3.46 55.70 161.04 - - - 161.04
161.04 -
10.62 1.10 0.18 0.05 9.65
9.65 - 170.69
170.69 - 21.89
8.55 8.55
1.94 1.94
7.36 7.36
6807.94 57.64 6865.58
4332.59 27.08 (227.06) 1118.70 438.52 83.45 126.16 642.00 6541.44
324.14
0.09 324.23 - 324.23
75.75 10.22 85.97 238.26 - - - 238.26
243.19 (4.93)
(7.60) (1.18) (0.29) (0.07) (6.64)
(6.34) (0.30)
231.62
236.85 (5.23) 21.89 3089.28
10.88 10.88
6151.40 62.02 6213.42
3968.45 57.09 (426.10) 931.31 374.81
55.50 104.11 619.44 5684.61
528.81
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 2879.02
18.05 18.05
Consolidated Audited Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Year ended March 31, 2025
TRIVENI ENGINEERING & INDUSTRIES LIMITED
3 Months ended
Year ended
(~ in crores)
Particulars
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) Finance costs (ii) Share of (profit)/loss of joint ventures (iii) Other unallocable expenditure net of unallocable income Total Profit/(loss) before tax
(3 Segment Assets
(a) Sugar & Allied Businesses
Sugar Distillery
(b) Engineering Businesses Power transmission Water
(c) 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
31/Mar/2025 31jDec,l2024 31/Mar/2024 31/Mar/2025 31/Mar/2024 (Audited) (refer note 7)
(Audited) (refer note 7)
(Unaudited)
(Audited)
(Audited)
1078.69 747.54 1826.23
139.59 94.02 233.61
52.11
2111.95 186.67 1925.28
223.58 23.34 246.92
46.45 13.07 59.52
0.48
306.92
30.11 (0.02) 21.66 255.17
3738.57 1358.35 5096.92
372.66 617.01 989.67
9.48
6096.07 146.10 6242.17
523.72 114.76 638.48
103.93 182.42 286.35
2.28
927.11 2155.44 3082.55
929.50 652.83 1582.33
73.41 49.12 122.53
52.43
1757.29 156.99 1600.30
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
960.34 1157.53 2117.87
927.51 572.80 1500.31
88.18 66.32 154.50
49.46
1704.27 156.15 1548.12
158.28 41.96 200.24
33.37 15.58 48.95
0.08.
249.27
18.01 (0.54) 15.06 216.74
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
73.06 167.34 240.40
2.39
627.08 1590.32 2217.40
3966.95 2592.19 6559.14
369.89 234.23 604.12
199.80
7363.06 555.12 6807.94
266.50 39.67 306.17
126.80 32.78 159.58
(0.00)
465.75
83.45 (0.09) 58.16 324.23
3738.57 1358.35 5096.92
372.66 617.01 989.67
9.48
6096.07 146.10 6242.17
523.72 114.76 638.48
103.93 182.42 286.35
2.28
927.11 2155.44 3082.55
3857.87 2204.90 6062.77
291.81 246.33 538.14
182.10
6783.01 631.61 6151.40
305.60 180.86 486.46
107.09 31.41 138.50
(0.67)
624.29
55.50 (0.18) 39.98 528.99
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
73.06 167.34 240.40
2.39
627.08 1590.32 2217.40
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Consolidated Statement of Assets and Liabilities
Particulars
ASSETS
1 Non-current assets
(a) Property, plant and equipment (b) Capital work-in-progress
Investment property
(c) (d) Goodwill (e) Other intangible assets
(f)
Investments accounted for using equity method
(g) Financial assets
(i) Investments (ii) Trade receivables (iii) Loans (iv) Other financial assets
(h) Deferred tax assets (net)
(i) Other non-current assets
2 Current assets
Inventories
(a) (b) Financial assets
(i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than cash and cash equivalents (iv) Loans (v) Other financial assets
(c) Other current assets
TOTAL - ASSETS
EQUITY AND LIABILITIES
EQUITY
(a) Equity share capital
(b) Other equity
Equity attributable to owners of the Company Non-controlling interests
LIABILITIES
1 Non-current liabilities
(a) Financial liabilities
(i) Borrowings (ii) Lease liabilities
(b) Provisions
(c) Deferred tax liabilities (net) (d) Other non-current liabilities
2 Current liabilities
(a) Financial liabilities
(i) Borrowings (ii) Lease liabilities (iii) Trade payables
- total outstanding dues of micro enterprises and small enterprises - total outstanding dues of creditors other than micro enterprises and small enterprises
(iv) Other financial liabilities
(b) Other current liabilities
Provisions
(c) (d) Current tax liabilities (net)
TOTAL- EQUITY AND LIABILITIES
(f in crores)
As at 31/Mar/2025 (Audited)
As at 31/Mar/2024 (Audited)
2319.79 31.60 11.30 0.68 2.40 2.77
7.01 149.73 0.09 23.12 33.29 38.35 2620.13
1501.69 225.70 12.14 0.68 2.05 2.68
52.47 161.07 0.04 22.48 0.38 47.47 2028.85
2737.81
2419.94
519.81 46.08 8.65 0.50 16.59 292.60 3622.04 6242.17
21.89 3089.28 3111.17
48.45 3159.62
397.27 8.13 29.85 134.76 30.14 600.15
344.70 76.40 1.44 0.53 15.99 230.46 3089.46 5118.31
21.89 2879.02 2900.91 -
2900.91
248.79 7.57 15.39 121.22 30.09 423.06
1571.76 2.88
1162.17 5.40
8.55
8.23
550.99
111.75 150.09 83.50 2.88 2482.40 6242.17
348.31
85.74 126.98 45.22 12.29 1794.34 5118.31
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Consolidated Statement of Cash Flows
Particulars
Cash flows from operating activities
Profit before tax
Adjustments for:
Share of net (profit)/loss of joint venture accounted for using the equity method Depreciation and amortisation expense Sad debts written off - trade receivables carried at amortised cost Sad debts written off - other financial assets carried at amortised cost Impairment loss allowance on trade receivables and other financial assets (net of reversals) Sad debts written off - non financial assets Impairment loss allowance on non financial assets (net of reversals) Provision for non moving/ obsolete inventory (net of reversals) Loss on sale/write off of inventory Net fair value (gains)/losses on investments Mark-to-market (gains)/losses on derivatives Credit balances written back Profit on disposal of investment property Unrealised (gains)/losses from changes in foreign exchange rates Loss on sale/write off/impairment of property, plant and equipment Net (profit)/loss on salej' redemption of investments Interest income
Dividend income
Finance costs
Working capital adjustments:
Change in inventories
Change in trade receivables Change in other financial assets Change in other assets Change in trade payables Change in other financial liabilities Change in other liabilities Change in provisions
Cash generated from/(used in) operations Income tax paid (net) Net cash inflow/(outflow) from operating activities
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets Proceeds from sale of property, plant and equipment Advance received against assets held for sale Investments in subsidiaries and joint ventures Investments (other than subsidiaries and joint ventures) Proceeds from disposal/ redemption of investments (other than subsidiaries and joint ventures) Purchase of investment property Proceeds from sale of investment property Decrease/ (increase) in deposits with banks Interest received
Dividends received Net cash inflow/(outflow) from investing activities
Cash flows from financing activities Proceeds from long term borrowings Repayments of long term borrowings Increase/ (decrease) in short term borrowings Interest paid (other than on lease liabilities) Payment of lease liabilities (interest portion) Payment of lease liabilities (principal portion) Acquisition of non-controUing interests Buy-back costs Dividend paid Net cash inflow/(outflow) from financing activities
Net increase'/ (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the acquisition date of subsidiary Cash and cash equivalents at the end of the year
(~ in crores)
Year ended 31-Mar-2025 (Audited)
Year ended 31-Mar-2024 (Audited)
324.23
528.99
(0.09) 126.16 0.89 0.11 (1.04) 0.01 (7.56) 0.27 0.29 (1.18) 0.35 (1.57) (1.39) 0.44 3.38 (0.28) (24.42) (0.06) 83.45
(289.72) (159.90) 2.07 (49.45) (65.42) 4.25 17.77 14.71 (23.70) (82.66 (106.36)
(299.57) 1.74 1.05 (44.84) - 0.47 - 1.90 (8.51) 24.32 0.06 (323.38)
231.11 (135.71) 416.04 (82.36) (0.99) (5.92) (0.00) - (27.37) 394.80
(34.94) 76.40 4.62 46.08
(0.18) 104.11 1.57 0.11 1.27 0.24 (0.28) 0.55 0.11 0.03 0.53 (4.60) - (0.09) 0.53 (0.10) (35.70) (0.07) 55.50
(424.10) 54.33 3.20 26.38 (53.74) (2.78) (32.13) (6.70 216.98 (116.73 100.25
(356.56) 0.96 - (2.50) (35.00) 0.21 (0.04) - 0.45 33.22 0.07 (359.19)
142.29 (168.08) 523.00 (57.26) (1.26) (5.63) - (0.08) (169.65 263.33
4.39 72.01 - 76.40
TRIVENI ENGINEERING & INDUSTRIES LIMITED
Notes to the Consolidated Audited Financial Results for the Quarter and Year ended March 31, 2025
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 had during the previous year acquired 25.43% paid-up equity share capital of Sir Shadi Lal Enterprises Limited ('SSLEL') from certain members of the promoter group of SSLEL, under a share purchase agreement dated January 30, 2024. During the current year, the Company has further acquired 36.34% paid up equity share capital of SSLEL on June 20, 2024 from the balance members of the Promoter group under a share purchase agreement and also completed an open offer for acquisition of up to 26% voting share capital of SSLEL in compliance with applicable laws including SEBI (SAST) Regulations 2011. The Company now cumulatively holds 61.77% of the total shareholding of SSLEL and SSLEL has become a subsidiary of the Company w.e.f. June 20, 2024. Accordingly, as per Ind AS 103. "Business Combinations", the identified assets and liabilities of SSLEL as on June 20, 2024 have been consolidated at their respective fair values based upon the valuation reports obtained from registered valuers. Consequent thereto, a capital reserve to the extent of ~ 0.78 crore, being the excess of fair values of net assets acquired over the fair value of the consideration paid, has been recognised by the Company.
The above financial results include the results of SSLEL for the period from June 21, 2024 to March 31,2025 (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 Board of Directors of the Company has recommended a final dividend of 250% (~ 2.50 per equity share of the face value of ~ 1 each) for the FY 2024-25, which is subject to the shareholder's approval in the ensuing annual general meeting.
6. The standalone audited financial results of the Company are available on the Company's website (www.trivenigroup.com), website of BSE (www.bseindia.com) and NSE (www.nseindia.com). Summarised standalone financial performance of the Company is as under:
Particulars
Income from operations Profit! (loss) before tax (after exceptional items) Profit/ (loss) after tax (after exceptional items) Total comprehensive income
31/Mar/2025 (Audited) (refer note 7) 1845.29
239.18
175.04
174.75
3 Months ended
31/Dec/2024 (Unaudited)
1548.00
75.95
56.69
55.93
7.
(~ in crores)
Year ended
31/Mar/2025 (Audited)
31/Mar/2024 (Audited)
31/Mar/2024 (Audited) (refer note 7) 1547.52
214.92
6655.40
337.64
159.82
248.42
169.47
242.57
6149.14
523.99
391.52
401.66
8. The figures of the previous year under various heads have been regrouped to the extent necessary.
9. The above audited consolidated financial results of the Company for the quarter and year ended March 31, 2025 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 May 27, 2025. The results have been subjected to audit by the Statutory Auditors of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, who have issued an unmodified opinion on the same.
For Triveni Engineering & Industries Limited
Place: N oida Date : May 27, 2025
Dhruv M. Sawhney Chairman & Managing Director
TRIVENI ENGINEERING & INDUSTRIES LIMITED Regd. Office: A-44, Hosiery Complex, Phase-If Extension, Noida, Uttar Pradesh - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 Website: www.trivenigroup.com CIN: L15421UP1932PLC022174
Statement of Consolidated Audited Financial Results for the Quarter and Year ended March 31, 2025
Particulars
Total Income trom operations
Net Protit/{loss) tor the period (before tax and Exceptional items)
Net Profit/(Ioss) for the period before tax (after Exceptional items)
Net Profit/{Ioss) for the period after tax (after Exceptional items]
Total comprehensive income for the period [Comprising Profit/{Ioss) for the period (after tax) and other comprehensive income (after tax)] Equity share capital
Other equity
Earnings/{Ioss) per share of ~ 1/- each (notannualised for the quarters)
(a) Basic (in ~)
(b) Diluted (in ~)
Notes:
(to in crores, except per share data)
3 Months ended
Year ended
3l/Mar/1025 3l/Marj2024 3l/Marj2025 3l/Marj2024
(Audited)
(Audited)
(Audited)
(Audited)
1925.28 255.17 255.17 187.12 186.75
1548.12 216.74 216.74 161.04 170.69
21.89
21.89
8.55 8.55
7.36 7.36
6807.94 324.23 324.23 238.26 231.62
21.89 3089.28
10.88 10.88
6151.40 528.99 528.99 395.16 405.30
21.89 2879.02
18.05 18.05
1. Summarised Standalone Audited Financial Performance of the Company is as under;
Particuhrs
Total Income from operations
Profil/ (loss) before tax (after exceptional items) Profit/{Ioss) after tax (after exceptional items) Total comprehensive income
(~ in crores)
3 Months ended
Year ended
3l/Marj202S 3l/Mar/2024 31/Marj202S 31/Marj2024
(Audited)
(Audited)
(Audited)
(Audited)
1845.29 239.18 175.04 174.75
1547.52 214.92 159.82 169.47
6655.40 337.64 248.42 242.57
6149.14 523.99 391.52 401.66
2. The above financial results include the results of Sir Shadi Lal Enterprises Limited for the period from June 21. 2024 to March 31, 2025 (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.
3. 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 e nder Section 230 to 232 and o·thcr 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 Oil the application filed by the Company is awaited.
4. The above is an extract of the detailed format of Financial Results for the quarter and year ended March 31, 2025 filed with the Stock Exchanges
under Regulation 33 of the SEBI (LODR) Regulations, 2015. The full format of the Financial Results for the quarter and year ended March 31, 2025 are available on the websites of Stock Exchange(s) (www.lrivcnigroup.com).
and on the website of Company
and www.nseindia.com)
(www.bseindia.com
5. The Board of Directors of the Company has recommended a final dividend of 250% ( t 2.50 per equity share of the face value of f 1 each) for the FY
2024-25, which is subject to the shareholder's approval in the ensuing annual general meeting.
For Triveni Engineering & Industries Limited
Place ; Noida Date; May 27, 2025
Dhruv M Sawhney Chairman & Managing Director