Triveni Engineering & Industries has reported a robust performance for the first half of fiscal year 2026, with revenues from operations surging by 18.4% to over ₹3,300 crore. The company's financial results demonstrate significant growth across its key business segments, particularly in sugar and allied businesses.

Financial Highlights

• Profit Before Tax (PBT) stood at ₹32.00 crore, nearly tripling from ₹11.50 crore in the previous corresponding period.
• Profit After Tax (PAT) reached ₹23.50 crore, up from ₹8.60 crore in the same period last year.
• The Sugar and allied businesses saw a 21% increase, while Engineering Businesses grew by 8%.

Segment-wise Performance

Sugar Business

• Revenues for H1 increased by 22%, supported by a 14% increase in sugar dispatches and a 4% rise in realizations.
• The company's sugar inventory as of September 30, 2025, stood at 16.90 lakh quintals, valued at ₹37.40 per kilo.

Alcohol Business

• The Distillery operations showed significant improvement in profitability, driven by corrections in input prices and a focus on cost optimization.
• Ethanol constituted 92% of alcohol sales in Q2 FY26.

Power Transmission Business

• Secured healthy quarterly results with PBIT margins improving by more than 400 basis points.
• The improvement was attributed to better product mix and cost optimization efforts.
• Registered 9 new OEM customers in the product segment during H1 FY26.

Outlook and Strategic Initiatives

Tarun Sawhney, Vice Chairman and Managing Director, commented on the company's performance and future prospects:

"We remain optimistic about delivering an improved performance in FY26, given the various situations that our business segments are encountering. The company has implemented a series of strategic and well-considered initiatives to tackle key challenges across all our business segments."

Key points for the outlook include:

1. Expectations of substantial increase in sugar production due to higher cane availability and projected recovery improvements.
2. Positive sentiment regarding sugar recovery rates, supported by favorable weather conditions and disease management.
3. Anticipated growth in the Power Transmission Business, with a strong focus on large gearboxes and diversification beyond steam turbines.
4. Ongoing digital transformation initiatives across the group, including ERP migration and implementation of CRM systems.

Corporate Actions

The proposed scheme of arrangement for the amalgamation with SSEL and demerger of the Power Transmission business has been approved by stock exchanges. NCLT stakeholder meetings are scheduled for the end of November and early December, keeping the process on track for culmination in Q4 of the current fiscal year.

Triveni Engineering & Industries continues to navigate the dynamic market conditions, with its diversified portfolio and strategic initiatives positioning it well for sustained growth in the coming quarters.

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.