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Economic Times
28-05-2025
- Business
- Economic Times
Triveni Engineering shares rally 10% after solid Q4 earnings, upbeat sugar price outlook
Mixed full-year performance Live Events Management outlook (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Triveni Engineering & Industries climbed as much as 10.4% on Wednesday to Rs 468.20 on the BSE after the sugar and engineering company posted a double-digit rise in quarterly profit and flagged healthy sugar price trends Engineering & Industries reported a 16.2% year-on-year rise in consolidated net profit for the fourth quarter ended March 2025, to Rs 187.1 crore from Rs 161 crore a year company's board has recommended a final dividend of Rs 2.50 per equity share for FY25, subject to shareholder approval at the upcoming annual general from operations (gross) rose 24.4% YoY to Rs 1,925.3 crore, while revenue net of excise duty increased 25.1% to Rs 1,629.3 crore. The company's EBITDA jumped 21.5% YoY to Rs 317.4 crore, though the margin narrowed slightly to 19.5% from 20.1% in the same period last year. Earnings per share for the quarter improved to Rs 8.55 from Rs FY25, net revenue grew 9% YoY to Rs 5,689.2 crore, but EBITDA declined by 22.5% to Rs 533.8 crore. The company's EBITDA margin contracted to 9.4% from 13.2%, while profit after tax dropped 39.7% to Rs 238.3 sugar segment's turnover rose 2.8% from the previous year, driven by higher realisation prices, though segment profits declined 12.8% due to elevated production costs and lower recovery alcohol segment reported a 15.7% rise in turnover, aided by the commissioning of a new multi-feed distillery at Rani Nangal. However, profitability was hit due to higher volumes of lower-margin maize-based ethanol and operational shutdowns from feedstock transmission stood out, with turnover surging 26.8%. Meanwhile, the water business saw a 4.9% dip in on the results, Dhruv M. Sawhney, Chairman and Managing Director, said the company is hopeful of an improved performance in the coming year through proactive measures in our sugar and alcohol also noted favourable sugar market dynamics. 'Sugar prices have remained at healthy levels during FY25, particularly in Q4 FY25. We expect these trends to continue given the lower sugar stocks in the country on a year-on-year basis,' he said.'We believe that a continually increasing portfolio of refined sugar and pharmaceutical-grade sugar production, which now stands at 73% of overall sugar production, augurs well for sugar realisations for the company. We continue to make judicious investments in our facilities to enhance sugarcane crush rate, sugar quality and efficiencies,' Sawhney read | Sensex drops over 200 pts, Nifty below 24,800 as block deals & IPO activity weigh on markets (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
28-05-2025
- Business
- Time of India
Triveni Engineering shares rally 10% after solid Q4 earnings, upbeat sugar price outlook
Shares of Triveni Engineering & Industries climbed as much as 10.4% on Wednesday to Rs 468.20 on the BSE after the sugar and engineering company posted a double-digit rise in quarterly profit and flagged healthy sugar price trends ahead. Triveni Engineering & Industries reported a 16.2% year-on-year rise in consolidated net profit for the fourth quarter ended March 2025, to Rs 187.1 crore from Rs 161 crore a year earlier. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Investigadora argentina revela hallazgos sobre el magnesio Salud Esencial Leer más Undo The company's board has recommended a final dividend of Rs 2.50 per equity share for FY25, subject to shareholder approval at the upcoming annual general meeting. Revenue from operations (gross) rose 24.4% YoY to Rs 1,925.3 crore, while revenue net of excise duty increased 25.1% to Rs 1,629.3 crore. The company's EBITDA jumped 21.5% YoY to Rs 317.4 crore, though the margin narrowed slightly to 19.5% from 20.1% in the same period last year. Earnings per share for the quarter improved to Rs 8.55 from Rs 7.36. Mixed full-year performance For FY25, net revenue grew 9% YoY to Rs 5,689.2 crore, but EBITDA declined by 22.5% to Rs 533.8 crore. The company's EBITDA margin contracted to 9.4% from 13.2%, while profit after tax dropped 39.7% to Rs 238.3 crore. Live Events The sugar segment's turnover rose 2.8% from the previous year, driven by higher realisation prices, though segment profits declined 12.8% due to elevated production costs and lower recovery rates. The alcohol segment reported a 15.7% rise in turnover, aided by the commissioning of a new multi-feed distillery at Rani Nangal. However, profitability was hit due to higher volumes of lower-margin maize-based ethanol and operational shutdowns from feedstock shortages. Power transmission stood out, with turnover surging 26.8%. Meanwhile, the water business saw a 4.9% dip in revenue. Management outlook Commenting on the results, Dhruv M. Sawhney, Chairman and Managing Director, said the company is hopeful of an improved performance in the coming year through proactive measures in our sugar and alcohol businesses. Sawhney also noted favourable sugar market dynamics. 'Sugar prices have remained at healthy levels during FY25, particularly in Q4 FY25. We expect these trends to continue given the lower sugar stocks in the country on a year-on-year basis,' he said. 'We believe that a continually increasing portfolio of refined sugar and pharmaceutical-grade sugar production, which now stands at 73% of overall sugar production, augurs well for sugar realisations for the company. We continue to make judicious investments in our facilities to enhance sugarcane crush rate, sugar quality and efficiencies,' Sawhney added. Also read | Sensex drops over 200 pts, Nifty below 24,800 as block deals & IPO activity weigh on markets
Business Standard
28-05-2025
- Business
- Business Standard
Triveni Engg spurts after Q4 PAT rises 14% YoY to Rs 183 cr
Triveni Engineering & Industries surged 9.17% to Rs 462.95 after the company's consolidated net profit rose 13.63% year-on-year (YoY) to Rs 183 crore in Q4 FY25, compared to Rs 161.04 crore in Q4 FY24. Revenue from operations (excluding excise duty) grew 25.12% YoY to Rs 1,629.29 crore during the quarter ended 31 March 2025. Profit before tax from continuing operations stood at Rs 255.17 crore in Q4 FY25, up 17.73% from Rs 216.74 crore in the same quarter last year. In Q4 FY25, EBITDA stood at Rs 317.4 crore, recording growth of 21.51% from Rs 261.2 crore posted in the same quarter last year. However, the EBITDA margin contracted to 19.5% in Q4 FY25 from 20.1% in Q4 FY24. Revenue from the sugar business grew by 16.29% to Rs 1,078.69 crore in Q4 FY25 from Rs 927.51 crore in Q4 FY24. The alcohol (distillery) business reported revenue (net of excise duty) of Rs 451.55 crore during the quarter, marking a growth of 38.1% compared to Rs 326.81 crore in Q4 FY24. Production increased by 29.9% year-on-year to 63,732 KL, while sales volumes rose 38.7% to 62,256 KL in Q4 FY25 as against Q4 FY24. Revenue from the power transmission business increased by 58.30% to Rs 139.59 crore in Q4 FY25, up from Rs 88.18 crore in the same quarter last year. The outstanding order book reached an all-time high of Rs 389.4 crore as on 31 March 2025, which includes long-duration orders worth Rs 178.3 crore. Further, revenue from the water business soared 41.76% to Rs 94.02 crore in Q4 FY25 from Rs 66.32 crore in Q4 FY24. The outstanding order book as on 31 March 2025 stood at Rs 1,600.8 crore, which includes Rs 1,120 crore towards O&M contracts for a longer period of time. Dhruv M. Sawhney, chairman and managing director of Triveni Engineering & Industries, 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 waterlogging in certain regions, and the 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 an intensive continued push for a varietal substitution programme to reduce the proportion of the 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 and 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 overall sugar production, augurs well for sugar realizations for the company. We continue to make judicious investments 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 the 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 feedstocksmaize, SFG, and damaged food grains (DFG)we are aiming to be nimble to seize all opportunities to lower procurement costs. We are also hopeful that the government will address the feedstock and profitability challenges in various feedstocks as it remains committed to the Ethanol Blended Petrol (EBP) program with the formation of an inter-ministerial group to work on a 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 Rs 700 crore (up from Rs 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 that 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. Meanwhile, the companys board has recommended a dividend of Rs 2.50 per equity share for the financial year ended 31 March 2025, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). The board has also fixed Monday, 1 September 2025, as the record date for the purpose of ascertaining the entitlement of members/beneficial owners to the said dividend. Triveni Engineering & Industries (TEIL) is a diversified industrial conglomerate having core competencies in the areas of sugar, alcohol, power transmission, and water. The company is 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.
Business Standard
12-05-2025
- Business
- Business Standard
Triveni Turbine zooms as Q4 PAT jumps 24% YoY to Rs 95 cr
Triveni Turbine surged 9.63% to Rs 565.45 after the company's consolidated net profit jumped 24.14% to Rs 94.60 crore on 17.44% rise in revenue from operations to Rs 538 crore in Q4 FY25 over Q4 FY24. Domestic sales increased by 8% YoY to Rs 260 crore while export sales grew by 27% YoY to Rs 280 crore during the period under review. Profit before tax stood at Rs 100.90 crore in the March 2025 quarter, up 30.92% from Rs 100.90 crore posted in the corresponding quarter last year. EBITDA surged 31.24% year on year to Rs 140.30 crore in the quarter ended 31 March 2025. EBITDA margin improved to 26.1% in Q4 FY25 as against 23.3% recorded in the corresponding quarter last year. The company achieved an order booking of Rs 630 crore in Q4 FY25, registering a 44% year-on-year growth. Export order booking declined 27% YoY to Rs 190 crore, while domestic order booking surged 150% YoY to Rs 440 crore, driven by Rs 290 crore worth of orders from NTPC for setting up a Long Duration Energy Storage (LDES) system at Kudgi, Karnataka. On its outlook, the company stated that Triveni Turbines, as a globally trusted energy innovator, is well-positioned to sustain healthy near-term performance following a strong showing in FY25. This positive outlook is underpinned by a robust order backlog in the API and IPG (Industrial Power Generation) turbine segments, along with market expansion in high-potential regions such as the USA. A strong domestic supply chain further strengthens competitiveness and supports business continuity. The company also highlighted strong growth potential in its Aftermarket business, driven by an expanded range of offeringsincluding spare parts, services, and refurbishmentstargeting a broader customer base across various rotating equipment, including steam turbines, gas turbines, utility turbines, and geothermal turbines. Triveni Turbines growing global presence, coupled with rising demand for renewable energy, energy efficiency, waste-to-energy (WtE), and decentralized power solutions, continues to offer significant growth opportunities. The company remains confident that by leveraging these trends both in India and internationally, it will be able to sustain its growth and profitability in the years ahead. Dhruv M. Sawhney, chairman and managing director, Triveni Turbine, said: In FY25, Triveni Turbines sustained its strong track record of outstanding financial performance and surpassed previous highs of annual revenues, profitability and order booking. Revenue from operations grew 21% over the previous year to reach record level of Rs 20.06 billion. EBITDA and profit before tax (PBT) grew faster at 36% and 37% YoY and stood at Rs 5.18 billion and Rs 4.88 billion respectively. Profit after tax (PAT) stood at Rs 3.59 billion, representing an increase of 33% over last year. Higher EBITDA and profits were achieved through a combination of efficient cost management, operating leverage and an improved revenue mix. Order booking for the year reached a record Rs 23.63 billion, up 26% YoY supported by increased domestic and product-led demand. This is despite downward adjustments of Rs 1.4 billion in order booking due to slow moving orders while having customer advances. The aftermarket segment witnessed a notable increase in new, repeat, and referral orders. At end of 31 March 2025 the closing order book stood at a record Rs 19.09 billion, an increase of 23% YoY. A robust closing order book ensures healthy visibility for the medium term, positioning the company well for continued momentum. Demand for the Companys products remained strong with Product order booking achieving an impressive growth of 38% YoY to Rs 17.41 billion in FY25. Key drivers of growth in product order booking were finalisation of orders in the renewable energy sector, industrial clients, power producers and API turbines. Domestically, product order booking was also supported by the Companys strategic foray in CO₂ energy storage solutions. In the API segment, the enquiry base expanded geographically, resulting in order finalisations for both drive and power turbines across the Middle East, Southeast Asia, Central & South America and Europe. As a result, the company achieved its highest-ever annual Product order booking for the fourth consecutive year, representing a key milestone in its pursuit of sustainable and innovative solutions. The company continues to see good international demand which is reflected in export order booking which grew 23% YoY to Rs 12.59 billion during the year. This includes orders secured across broad power ranges from key regions including the Middle East, Europe, North America, Southeast Asia, and Africa. The enquiry pipelines in both product and aftermarket segments remain robust and globally diversified. In FY25, the international enquiry pipeline grew by 30% while the domestic enquiry growth was even more impressive at 120%, providing strong visibility for the coming year. By diversifying across various geographies and product/aftermarket segments, we also aim to mitigate the risks associated with market volatility. Our strategic initiatives are underpinned by a robust culture of innovation, customer centricity, operational excellence, safety, and quality assurance. This lays a solid foundation for Triveni Turbines for future opportunities and sustained value creation for all stakeholders. The board of directors has recommended payment of final dividend Rs 2 per equity share of Rs 1 each) for the financial year 2024-25, subject to approval of shareholders. Triveni Turbine is primarily engaged in business of manufacture and supply of power generating equipment and solutions.
