Triveni Engineering & Industries (TRIVENI) Q3 25/26 earnings summary

Executive summary

• Revenues from operations for the nine months reached ₹5,787.20 crore, up 18.5% year-over-year, with consolidated PAT at ₹101.3 crore, both showing strong growth despite exceptional costs and reflecting robust performance in sugar and distillery segments.

• Non-sugar businesses now contribute 38% of revenue, up from 21% in FY20, highlighting successful diversification.

• Major corporate restructuring is underway, including the amalgamation of SSEL and demerger of the Power Transmission Business, with NCLT approval pending.

• Unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, were approved and released, with no material misstatements found.

• An interim dividend of ₹1.50 per share (150%) was declared for FY26.

Financial highlights

• Consolidated Q3 FY26 revenue from operations: ₹1,818.28 crore (up from ₹1,600.30 crore in Q3 FY25); 9M FY26: ₹5,787.20 crore (up from ₹4,882.66 crore in 9M FY25).

• Consolidated Q3 FY26 net profit after tax: ₹77.78 crore (up from ₹42.57 crore in Q3 FY25); 9M FY26: ₹101.26 crore (up from ₹51.14 crore in 9M FY25).

• EBITDA for 9M FY26: ₹338.1 crore (+56.2% YoY); Q3 FY26: ₹174.9 crore (+73.2% YoY).

• Exceptional item of ₹22.4 crore recognized for estimated impact of new labour codes.

• Strong balance sheet: consolidated debt reduced to ₹914 crore (FY25) with debt/equity at 0.49x.

Outlook and guidance

• Sugarcane crop in Uttar Pradesh is healthy, while Maharashtra and Karnataka are expected to see lower production, supporting robust sugar prices.

• Ethanol blending program is progressing, with industry blending at nearly 20% and further government impetus expected.

• Power Transmission and Water businesses anticipate increased order inflows, especially in export and niche water treatment segments.

• Results may vary quarter to quarter due to seasonality in the sugar business.