Triveni Engineering & Industries (TRIVENI) Q4 24/25 earnings summary

Executive summary

• FY25 consolidated revenue grew to ₹6,807.94 crore, with net profit after tax at ₹238.26 crore, and a final dividend of ₹2.50 per share (250%) recommended, subject to shareholder approval.

• Power Transmission business delivered record turnover, profitability, and order booking, while sugar and alcohol segments faced margin pressures from higher costs and lower yields.

• Major corporate restructuring includes the amalgamation of SSEL, demerger of Power Transmission, and acquisition of Sir Shadi Lal Enterprises Limited.

• Audited standalone and consolidated financial results for Q4 and FY25 were approved, with unmodified audit opinions issued by statutory auditors.

• The 89th AGM is scheduled for September 8, 2025, via video conferencing.

Financial highlights

• Sugar business turnover increased 2.8% YoY, but segment profits declined 12.8% due to higher production costs and lower recovery rates.

• Alcohol business net turnover grew 15.7% YoY, but PBIT declined 78.1% due to lower margins on maize-based ethanol and operational challenges.

• Power Transmission revenue rose 26.8% YoY, with PBIT up 18.4% and order booking up 26.6% YoY.

• Water business revenues declined, but PBIT increased 4.4% YoY and order booking was strong, with a closing order book above ₹1,600 crore.

• Consolidated gross debt as of March 31, 2025, was ₹1,969 crore, while standalone total liabilities were ₹2,573.40 crore.

Outlook and guidance

• Sugar prices expected to remain range-bound but slightly higher, with improved area under cultivation and yield enhancement anticipated for FY26.

• Ethanol production projected at 23–24 crore liters for FY26, with capacity utilization at 95% based on current feedstock mix.

• Power Transmission capacity expansion to ₹700 crore annual capacity expected by September 2026.

• Water business sees new opportunities in recycling, ZLD, and international projects, supported by government funding.