Triveni Engineering & Industries (TRIVENI) Q4 25/26 earnings summary

Executive summary

• Composite scheme of arrangement, including SSEL amalgamation and PTB demerger, became effective in May 2026 following NCLT approval.

• FY26 consolidated revenue reached ₹7,620.85 crore, up from ₹6,807.94 crore YoY, with net profit at ₹268.71 crore.

• Board recommended a final dividend of ₹1.25 per share, with an interim dividend of ₹1.50 per share for FY26.

• Non-sugar business contribution rose to 46% by FY26, reflecting diversification.

• Strong balance sheet with improved leverage and ICRA AA+ (Stable) credit rating.

Financial highlights

• FY26 gross revenue grew 11.9% YoY to ₹7,621 crore; net revenue up 10.6% YoY to ₹6,291 crore.

• EBITDA for FY26 was ₹624 crore, with margin at 16.9%; PAT at ₹268.71 crore, EPS at ₹12.19.

• Consolidated debt reduced to ₹914 crore in FY26; debt-to-equity ratio at 0.35x.

• Exceptional charge of ₹14 crore for retroactive labor code impact.

• Cash generation of ₹4,237 crore in FY21–26, with 35% returned via dividends/buybacks.

Outlook and guidance

• Sugar: Higher realization prices and improved recoveries expected, but subdued exports due to global prices.

• Distillery: Further ethanol allocations expected as legal hurdles resolve; government push for ethanol blending.

• Power Transmission: Robust domestic demand, doubled enquiries in FY26, strong export outlook.

• Water: New opportunities in recycling and ZLD, with international expansion under evaluation.