Triveni Engineering FY25 Revenue Rises 9 Percent to INR 5,689 Crore, Profit at INR 238 Crore

Triveni Engineering & Industries Ltd. announced its financial results for the fourth quarter and full year ended March 31, 2025 (Q4 and FY25), reporting a consolidated revenue from operations (net of excise duty) of INR 5,689.2 crore, a 9 percent increase from the previous year.

However, the company’s profitability took a hit, with Profit Before Tax (PBT) at INR 324.2 crore and Profit After Tax (PAT) at INR 238.3 crore, reflecting a decline of approximately 39 percent year-on-year. This dip in profitability was mainly attributed to reduced margins in the Sugar and Alcohol businesses.

Despite this, the Board has recommended a final dividend of INR 2.50 per equity share, subject to shareholder approval. The annual performance was supported by growth in the Sugar, Alcohol, and Power Transmission segments. The company noted that the sugar season of 2024-25 witnessed lower yields and recoveries across Uttar Pradesh, with overall sugarcane crush declining by around 3 percent and recovery rates dropping by 90 basis points. Nevertheless, the firm managed to maintain its sugarcane crush levels on a standalone basis, with a gross recovery reduction limited to 69 basis points. Notably, the Khatauli sugar unit achieved the highest sugarcane crush and production in India for the season, surpassing its previous record, while the Deoband unit reported its second-highest crush ever.

The Alcohol segment saw the commissioning of a new multi-feed distillery at Rani Nangal, contributing to a 15.7 percent increase in turnover. However, profitability suffered due to a shift to maize-based ethanol production, which has lower margins compared to surplus food grains that were discontinued after July 2023. Lower availability of molasses, a switch to C-heavy molasses due to favorable sugar prices, and under-recovery of fixed expenses during shutdown periods further impacted the segment.

On the other hand, the Power Transmission business had a standout year, with a 26.8 percent growth in turnover and an 18.4 percent rise in segment profits. Order booking for the segment rose by 26.6 percent to INR 475.4 crore, and the closing order book grew 35.5 percent to INR 389.4 crore.

The company’s gross debt on a consolidated basis rose to INR 1,969.2 crore from INR 1,411 crore the previous year, including INR 202.6 crore attributable to its subsidiary, Sir Shadi Lal Enterprises Ltd. The average cost of funds also edged up to 6.9 percent from 6.5 percent in the prior year. Chairman and Managing Director Dhruv M. Sawhney acknowledged the challenges posed by climatic factors such as heavy rainfall, waterlogging, and disease outbreaks that affected sugarcane yields.