Triveni Engineering & Industries Limited (TEIL) has reported a robust 15.2% year-on-year increase in consolidated revenue for the second quarter of fiscal year 2026, reaching ₹2,014.50 crore. The company's performance was driven by strong growth across its sugar and allied businesses, as well as its engineering segment.

Financial Highlights

• Consolidated revenue for Q2 FY26 stood at ₹2,014.50 crore, up from ₹1,748.30 crore in Q2 FY25.
• Net profit after tax improved significantly, reaching ₹21.40 crore compared to a loss of ₹22.40 crore in the same quarter last year.
• EBITDA surged by 373.2% to ₹86.70 crore, with the EBITDA margin expanding to 5.1% from 1.2% in Q2 FY25.

Segment Performance

Sugar and Allied Businesses

The sugar segment saw a substantial increase in revenue, with domestic sugar dispatches rising by 14.6% to 2,76,225 tonnes. The average realization improved by 5.1% to ₹40,583 per tonne. However, the segment reported a loss of ₹12.40 crore, albeit an improvement from the ₹35.40 crore loss in Q2 FY25.

Alcohol (Distillery) Business

The distillery segment showed strong growth with alcohol production increasing by 51.8% to 59,551 KL. Despite a slight decrease in sales volume and average realization, the segment's profitability improved significantly, reporting a profit of ₹27.70 crore compared to a loss of ₹5.80 crore in the previous year.

Engineering Businesses

The Power Transmission Business (PTB) reported a marginal increase in revenue and profitability. The Water business, while experiencing growth in revenue, saw a decrease in profitability for the quarter.

Expansion Plans and Future Outlook

Triveni Engineering has outlined plans for diversified growth across its sugar, distillery, and water businesses. The company plans to invest over ₹1,000 crores to expand its ethanol capacity to 860 KLPD. This expansion aligns with the government's Ethanol Blended Petrol (EBP) program and is expected to strengthen Triveni's position in the alcohol segment.

The engineering division aims to double its revenue through water infrastructure projects and turbine exports. The company is focusing on green transition and value chain integration as part of its growth strategy.

Corporate Actions

The Board of Directors has approved a final dividend of 250% (₹2.50 per equity share) for FY25, which has been paid to eligible shareholders. Additionally, the company is proceeding with a composite scheme of arrangement for the amalgamation of Sir Shadi Lal Enterprises Limited (SSEL) with TEIL and the demerger of its Power Transmission Business into Triveni Power Transmission Limited (TPTL).

Management Commentary

Dhruv M. Sawhney, Chairman and Managing Director of Triveni Engineering & Industries Ltd, commented on the results: "Despite a seasonally weak quarter, I am happy to share a significant improvement in financial performance for the quarter majorly led by improved operations of Distillery. We have recently commenced sugarcane crush for the new sugar season and initial indications are encouraging – both in terms of crush and recovery."

He further added, "We are making timely technology interventions at our plants to further improve process efficiencies and support our profitability journey. The proposed scheme of amalgamation with SSEL and the demerger of the Power Transmission business is expected to unlock value and drive operational efficiencies."

As Triveni Engineering continues to execute its growth strategies and operational improvements, the company appears well-positioned to capitalize on opportunities in its key business segments.

Triveni Engineering & Industries , a prominent player in the sugar and engineering sectors, has received a significant regulatory approval for its composite scheme of arrangement. The National Company Law Tribunal (NCLT) Allahabad Bench has approved the second motion petition for the company's restructuring plan, marking a crucial step forward in the corporate reorganization process.

NCLT Approval Details

The NCLT Allahabad Bench, through its order dated December 16, 2025, has allowed the second motion petition under Company Petition No. 37/ALD/2025 connected with Company Application No. 29/ALD/2025. The tribunal's decision paves the way for the next phase of the composite scheme implementation.

Composite Scheme Structure

The approved scheme involves a complex corporate restructuring with two main components:

Amalgamation Component

• Sir Shadi Lal Enterprises Limited (SSEL) will be amalgamated into Triveni Engineering & Industries Limited (TEIL)
• This merger will consolidate operations and streamline the corporate structure

Demerger Component

• The Power Transmission Business (PTB Undertaking) of TEIL will be demerged into Triveni Power Transmission Limited (TPTL)
• This separation will create a focused entity for the power transmission operations

Regulatory Process and Next Steps

Following the NCLT approval, the tribunal has directed comprehensive notice requirements to various statutory authorities including:

• Central Government through Ministry of Corporate Affairs
• Income Tax authorities for all three companies
• Stock exchanges (BSE Limited and National Stock Exchange)
• Regional Directors and Registrar of Companies

All authorities have been given 30 days from receipt of notice to file representations, if any. The scheme must also be published in prominent national dailies - Financial Express (English) and Jansatta (Hindi) in all editions.

Previous Financial Performance

The company had earlier reported mixed results for Q2 with total consolidated revenue of ₹2,014.46 crore and net profit of ₹21.38 crore. The diversified business model showed varying segment performance:

Strategic Implications

This NCLT approval represents a significant milestone in Triveni Engineering's corporate restructuring journey. The composite scheme, once fully implemented, is expected to optimize the company's operational efficiency and create distinct value propositions for different business verticals. The final hearing scheduled for February 5, 2026, will determine the complete approval and implementation timeline for this strategic reorganization.