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 reported mixed results for the second quarter ended September 30, 2025. The company's performance shows varied outcomes across its business segments, with losses in sugar operations balanced by gains in engineering and distillery businesses.

Key Financial Highlights

• Revenue: Total consolidated revenue reached ₹2,014.46 crore, while standalone revenue stood at ₹1,930.76 crore.
• Net Profit: The company posted a consolidated net profit of ₹21.38 crore and a standalone profit of ₹31.88 crore.
• Segment Performance:

  Segment	Profit/Loss (₹ crore)
  Sugar	-7.02
  Distillery	29.26
  Power Transmission	45.97
  Water	2.37

Other Notable Developments

• A power tariff revision effective April 1, 2024, added ₹16.81 crore to the current quarter's results.
• The company paid a final dividend of 250% (₹2.50 per share), totaling ₹54.72 crore for the financial year ended March 31, 2025.
• A composite scheme for amalgamation with Sir Shadi Lal Enterprises Limited and demerger of the power transmission business is pending regulatory approvals, with shareholder meetings scheduled for December 7, 2025.

Segment Analysis

Sugar Business

Despite overall positive results, the sugar segment faced challenges, reporting losses for the quarter.

Distillery Operations

This segment showed strong performance, contributing significantly to the company's profitability.

Engineering Businesses

Both power transmission and water segments performed well, with power transmission being a major profit contributor.

Outlook

Triveni Engineering's Q2 results reflect a complex business environment with varying performances across segments. The losses in the sugar business were effectively offset by strong showings in distillery and engineering operations. The company's diversified business model appears to provide some resilience against sector-specific challenges.

Investors and market watchers may keep a close eye on how the company navigates the sugar sector's volatility while capitalizing on the strengths of its engineering and distillery businesses. The pending regulatory approvals for the composite scheme could also be a significant factor in the company's future structure and performance.

Note: All figures are based on results for Q2 ended September 30, 2025, unless otherwise stated.