Q4FY22 Quarterly Result Announced for Triveni Engineering & Industries Ltd.
Triveni Engineering & Industries declares Q4FY22 result: Revenue from Operations (Net of excise duty) at Rs 4,290.9 crore Highest ever profitability with Profit before Tax at Rs 573.75 crore, a growth of 24.8% Profit after Tax at Rs 424.06 crore, a growth of 43.9% Board recommends final dividend of Rs 2 per equity share (200%) for the Financial year 2021-22 Sugar Businesses: Crushing continues at three of seven units in Sugar Season (SS) 2021-22 with total sugarcane crushed at 8.2 million tonnes with gross recovery of ~ 11.67% as on May 13, 2022 Diversion of sugar to ethanol in SS 2021-22 is estimated at ~93000 tonnes against 75148 tonnes in the previous season Despite lower sales volumes, sugar profitability has been maintained in FY 22 due to better realizations Increase in net turnover and profitability of Alcohol business by 30% and 48% during FY 22, is driven by increased sales volumes along with higher realization prices and better efficiencies. On April 4, 2022, the Company commenced operations of its new multi-feed distillery with a capacity of 160 KLPD at its Milak Narayanpur sugar mill in U.P. Achieved overall capacity of 520 KLPD with enhancement of operations at Sabitgarh from 160 KLPD to 200 KLPD Engineering Businesses: Engineering businesses reported 16% increase in turnover driven by power transmission business Water business registered marked improvement in profitability and order booking during the year Power Transmission business reported highest ever annual revenues and record profitability Outstanding order book of Rs 1734.15 crore for combined Engineering Businesses Commenting on the Company’s financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: “The Company has delivered extraordinary results for the year under review. All the businesses have contributed to improved profitability during the year. Increase in sugar realization prices by 7% largely compensated for the lower sales volumes by 23%. We estimate the country’s sugar production at 35.6 million tonnes after diversion of 3.4 million tonnes to ethanol. The increase in production during the season, will be largely absorbed by the increased levels of exports of 9.5 million tonnes. Closing inventories at the end of the SS 2021-22 are expected to be lower than the previous closing by approximately 1.5 million tonnes. It augurs well for the sugar prices. However, it is important that during the ensuing sugar season, additional diversion to ethanol and exports should take care of the additional production (over consumption) so that the closing inventories remain at reasonable levels. It is estimated that our crush level during the ongoing season will be almost at the same level as last year but the gross recoveries (including sugar diverted to ethanol) could be lower by about 20-25 basis points. The recoveries had been impacted due to excessive late rains and due to severe heat conditions since March’22." Result PDF15-05-2022