TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Audio recording of Analysts/ Investors Conference Call on the Unaudited Financial Results for the quarter ended September 30, 2022 TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Regulations 47 of the SEBI (LODR) Regulations, 2015 as amended, we enclose copies of the newspapers advertisement pertaining to the audited financial results of the Company for the Q2 & H1 FY23 ended Sept. 30, 2022 published in the Business Standard (English & Hindi) on 7th November, 2022. Q2FY23 Quarterly Result Announced for Triveni Engineering & Industries Ltd.
Sugar manufacturing company Triveni Engineering & Industries announced Q2FY23 results: H1FY23 consolidated: Revenue from operations (net of excise duty) at Rs 2571.56 crore, an increase of 22% Profit before exceptional items and tax at Rs113.16 crore Profit on the divestment of stake in Triveni Turbine Limited (TTL) at Rs1401.20 crore Profit after tax at Rs1454.21 crore Dhruv M Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: “Overall performance of the company during the half year ending September 30, 2022, has been satisfactory. Sugar and distillery segments witnessed higher dispatches during Q2/H1FY23 with higher realisations. The profitability in the sugar business has been impacted by the higher cost of sugar produced in the SS 2021-22, owing to increase in sugarcane price, which could not be fully compensated by increased sugar realisation prices. Similarly, the profitability of the distillery segment is somewhat subdued due to increased transfer pricing of B-heavy molasses. We have commenced production of Ethanol/ENA from the grains and have now stabilised the operations. Both the engineering businesses have performed well with strong revenue growth and have robust closing order books coupled with healthy enquiry pipelines. Like the previous season, there is an estimated surplus of around 9 million tonnes after meeting the domestic consumption. International prices are robust and it is important that the export policy for the SS 2022-23 is announced by the government at the earliest so that export contracts could be entered into, taking advantage of a favourable international pricing environment and currency depreciation. We have commenced sugarcane crushing at six sugar units and the sugar unit at Ramkola is scheduled to commence during the second week of November. As a result of the debottlenecking and modernisation carried out at our three sugar units and based on the crop position presently prevailing, our performance, both in terms of crush and recovery, is likely to be better and the refined sugar may constitute approximately 60% of the total sugar production. We presently have a total capacity of 660 KLPD under the distillery segment, which we have planned to increase to 1110 KLPD by setting up two more distilleries. As further capacity will mainly be operated on sugarcane juice and grains, it may be necessary for the government to continue to positively address the pricing of ethanol produced from these feedstocks to maintain viability and to ensure that adequate capacities are set up to meet the target of 20% EBP by 2025. It will be a game-changer for the sugar industry and the risk profile of the business will greatly improve. And it will be a win-win situation for the sugar industry, farmers and the Government. Considering the commitment of the government, we are quite optimistic that appropriate price corrections will take place in future. The engineering business continue to perform well with healthy order books and enquiry pipelines. In the Power Transmission business, strong domestic economy and focus on growth in export markets is a key growth driver. In the Water business, the Company’s focus on both domestic and international markets is yielding results with many notable recent order wins and several bids under evaluation. During the quarter, the company has divested its entire 21.85% stake in Triveni Turbine Limited for net consideration of Rs 1,593 crore unlocking significant value for shareholders. This has led to unbundling of businesses and monetisation of non-core assets. As indicated earlier, the proceeds from the divestment will be inter-alia utilised for growth and expansion of business as well as for rewarding shareholders. To this effect, the Board of Directors, subject to approval of shareholders, has approved a proposal to buy back from equity shareholders of the company upto 2,28,57,142 equity shares at a price of Rs 350 each for an aggregate amount not exceeding Rs 800 crore, through tender offer on proportionate basis in accordance with the provisions of SEBI (Buy back of Securities) Regulations, 2018, and Companies Act, 2013, and rules made thereunder. We believe the company is well-positioned across its businesseses to leverage the market opportunities with its strong capabilities and strategic focus.” Result PDF
Triveni Engineering Q2 net up to Rs 1,388 cr, board okays Rs 800-cr buyback
Sugar firm Triveni Engineering & Industries Ltd on Saturday reported a multi-fold jump in its consolidated profit to Rs 1,387.76 crore for the quarter ended September on one-off gains. Its net profit stood at Rs 92.47 crore in the year-ago period. Total income rose to Rs 1,483.33 crore in the second quarter of this fiscal from Rs 1,163.66 crore in the corresponding period of the previous year, according to a regulatory filing. "The company has divested its entire stake of 21.85 per cent in the associate company, Triveni Turbine Ltd, and accordingly exceptional income of Rs 1,401.20 crore has been recognized," the filing said. The company also announced a proposal to buy back up to 2,28,57,142 equity shares from shareholders at a price of Rs 350 per share for an aggregate amount not exceeding Rs 800 crore. Triveni Engineering is one of the largest integrated sugar producers in the country. It also has presence in engineered-to-order high speed gears and gearboxes, besides water .. TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Announcement under Regulation 30 (LODR)-Investor Presentation
We send herewith a copy of investors' brief on the performance of the Company for the H1 FY2023 (consolidated) ended Sept. 30, 2022 for your information. The same is also being made available on the Company's website www.trivenigroup.com. TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Announcement Pursuant To Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended ('SEBI LODR Regulations') - Outcome Of Board Meeting
The Board of Directors of the Company at its meeting held today i.e. Nov. 5, 2022, has , subject to approval of shareholders, approved a proposal to buyback from equity shareholders of the Company up to 2,28,57,142 equity shares of Re.1/- each at a price of Rs.350/- per share for an aggregate amount not exceeding Rs.800 crores through tender offer on proportionate basis in accordance with SEBI (Buyback of Securities) Regulations, 2018 and Companies Act, 2013. TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Board Meeting Outcome for Announcement Of Outcome Of Board Meeting Pursuant To Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended ('SEBI LODR Regulations')
The Board of Directors of the Company at its meeting held today i.e. Nov. 5, 2022, has considered and approved the audited standalone and consolidated financial results of the Company for the second quarter and half-year ended September 30, 2022. Copies of said financial results along with Reports of Auditors and newspaper publication are enclosed. The Board of Directors has also, subject to approval of shareholders, approved a proposal to buyback from equity shareholders of the Company up to 2,28,57,142 equity shares of Re.1/- each at a price of Rs.350/- per share for an aggregate amount not exceeding Rs.800 crores through tender offer on proportionate basis in accordance with SEBI (Buyback of Securities) Regulations, 2018 and Companies Act, 2013. TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Announcement Of Outcome Of Board Meeting Pursuant To Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended ('SEBI LODR Regulations')
The Board of Directors of the Company at its meeting held today i.e. Nov. 5, 2022, has considered and approved the audited standalone and consolidated financial results of the Company for the second quarter and half-year ended September 30, 2022. Copies of said financial results along with Reports of Auditors and newspaper publication are enclosed. The Board of Directors has also, subject to approval of shareholders, approved a proposal to buyback from equity shareholders of the Company up to 2,28,57,142 equity shares of Re.1/- each at a price of Rs.350/- per share for an aggregate amount not exceeding Rs.800 crores through tender offer on proportionate basis in accordance with SEBI (Buyback of Securities) Regulations, 2018 and Companies Act, 2013. TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, this is to inform you that the Company will organize its Q2 & H1 FY 23 Results Conference Call for analysts and investors on Monday, November 07, 2022 at 12.30 p.m. IST. Details of the conference call are enclosed. TRIVENI ENGINEERING & INDUSTRIES LTD. - 532356 - Board Meeting Intimation for Intimation Under Regulation 29 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
TRIVENI ENGINEERING & INDUSTRIES LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/11/2022 ,inter alia, to consider and approve Pursuant to Regulation 29 of the SEBI Listing Regulations, this is to inform you that a meeting of the board of directors of the Company (the 'Board of Directors') will be held on November 05, 2022, inter alia, to consider and approve: (i) the audited standalone and consolidated financial results of the Company for the half-year ended September 30, 2022, and; (ii) a proposal for buyback of the equity shares of the Company, including matters related / incidental thereto ('Buyback').