Triveni Engineering & Industries Limited has informed the Exchange about Transcript
TRIVENI · price
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Triveni Engineering reported Q1 FY26 consolidated revenue of ₹1,598 crore (up 23% YoY), but profit after tax was a thin ₹2.1 crore with PBT of just ₹2.9 crore, as the sugar segment's profit plunged 80% to ₹7.6 crore due to a 69 basis points drop in sugar recoveries (10.8% vs 11.49% last year). The alcohol business had its highest-ever quarterly output of 6.5 crore litres (sales up 53% YoY), but margins were hurt by 27% of volumes coming from low-margin FCI rice. The Power Transmission business posted a record ₹423 crore order book (up 38% YoY), with overall engineering order book at ₹1,975 crore (up 32%). Consolidated gross debt rose to ₹1,688 crore from ₹1,280 crore a year ago. Management expects the demerger of Power Transmission and merger with Sir Shadi Lal to complete by Q1 of next fiscal year. The government has approved 27% ethanol blending, which is expected to significantly boost the distillery business.
The Q1 results were weak with sugar profitability hit hard by lower cane recoveries and distillery margins dragged by FCI rice procurement misstep, which is likely to weigh on near-term sentiment. However, the strong order book growth in Power Transmission, improving alcohol realisations as FCI rice burden halves in Q2, and the government's 27% ethanol blending announcement are positive medium-term catalysts for the stock.