Triveni Engineering reported strong H1 FY26 results with revenue up by 18.4% to over ₹3,300 crore. PBT reached ₹32 crore, a notable increase from ₹11.5 crore in the prior year. The company anticipates moderate sugar prices driven by potential export allowances and sugarcane diversions for ethanol production. Triveni also highlights improvements in distillery operations and a healthy performance in its engineering business. The business expects continued growth and improved performance for the rest of the year.
Financial Performance Overview
Triveni Engineering & Industries Limited announced its Q2 and H1 FY26 earnings, highlighting the following:
- H1 FY26 Revenue: Increased by 18.4% to over ₹3,300 crore.
- PBT: Stood at ₹32 crore compared to ₹11.5 crore in the prior year.
- PAT: Reached ₹23.5 crore against ₹8.6 crore in the previous corresponding period.
Sugar Business
The sugar business saw revenue increase of 22% in H1, backed by a 14% rise in sugar dispatches and a 4% increase in realisations. For Q2, revenues rose by 27% driven by a 15% volume growth and 5% in realisations.
The company’s sugar inventory stood at 16.9 lakh quintals valued at ₹37.4 per kilo at the end of September. Triveni expects a domestic production of about 31 million tonnes, with sales of approximately 28 million tonnes and closing stock of about 7 million tonnes. This forecast accounts for a diversion of 3.25 million tonnes of sugar into ethanol and approximately 2 million tonnes of exports.
Alcohol Business
Alcohol sales for the quarter were down by 6%, due to supply chain issues. Ethanol constituted 92% of alcohol sales in Q2. Triveni also mentioned a significant improvement in profitability due to correction of input prices, particularly maize. OMCs have secured almost the entire quantity in cycle 1 for ESY 2025-2026.
Power Transmission Business
The power transmission business experienced a subdued order book during the quarter, but the company anticipates achieving robust double-digit growth in order booking, turnover, and profitability for this fiscal year. PBT margins have improved by over 400 basis points due to product mix and cost optimization.
The business has also secured 9 new OEM customers during the first half of FY26. The business is looking at the Indian market and foresees strong investment demand and manufacturing.
Water Business
Order booking of ₹1,520 crore was achieved. Cost reductions and maximizing profitability remain top priorities. New projects in recycle, reuse and Zero Liquid Discharge are being tendered for.
Scheme of Arrangement
The proposed amalgamation with SSEL and the demerger of the Power Transmission business has been approved by the stock exchanges. Meetings of stakeholders under the NCLT process have been scheduled for the end of November and early December for the two companies.
Source: BSE
