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

Executive summary

• Revenue from operations for FY25 rose 9% to ₹5,689.2 crore; consolidated revenue reached ₹6,807.94 crore, with PAT at ₹238.3 crore, reflecting a 39.7% decline due to lower sugar profitability.

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

• Board recommended a final dividend of 250% (₹2.50 per share) for FY25, subject to shareholder approval.

• Major acquisition of 61.77% of Sir Shadi Lal Enterprises Limited, making it a subsidiary from June 20, 2024.

• Corporate restructuring and demerger scheme progressing, pending regulatory approvals, expected completion in FY26.

Financial highlights

• Q4 FY25 revenue from operations (gross) up 24.4% year-over-year; consolidated net profit after tax for FY25 was ₹238.26 crore, down from ₹395.16 crore in FY24.

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

• Alcohol business net turnover grew 15.7% year-over-year, but PBIT declined 78.1% due to lower margins on maize-based ethanol and feedstock shortages.

• Power transmission business turnover increased 27%, with profitability up nearly 19% and order booking at record high.

• Water business revenues declined due to project delays, but order book rose 30.8% to ₹1,600.8 crore.

Outlook and guidance

• Sugar segment expects improved area under cultivation and yield enhancement in SS 2025-26, with better cost absorption and improved recoveries.

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

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

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