Triveni Engineering & Industries Limited (TRIVENI) — Financial Results
Investor Takeaways
Overall Tone: Positive
Key Financial Highlights
| Metric | Value | YoY Change |
|---|---|---|
| Revenue | ₹6,291 Cr | +10.6% |
| Net Profit | ₹268.7 Cr | +12.8% |
| EPS | ₹7.36 | +12.8% |
| OPM | Not available | N/A |
What Changed
Triveni Engineering & Industries reported Q4 FY26 results showing revenue of ₹6,291 crore (+10.6% YoY) and net profit of ₹268.7 crore (+12.8% YoY). The company declared a final dividend of ₹1.25 per share. ICRA reaffirmed the AA+ credit rating, reflecting stable financial standing. The board approved ₹340 crore CapEx for expansion, including a new defence manufacturing facility. Sugar revenue grew 13% YoY, contributing to improved profitability, while distillery revenue reached ₹1,550 crore. Power Transmission faced short-term delays but secured a landmark defence order and a ₹500 crore order book (+25% YoY), providing revenue visibility. The TPTL demerger remains on track, with share allotment scheduled for June 3, 2026, and a listing expected by end-August 2026. Ethanol policy discussions for "Beyond E20" are advancing, and sugar recovery improved to 11.06% (up 26 basis points). Maize-based ethanol production now accounts for 33% of grain feedstock, supporting margin resilience. Anticipated higher sugar pricing at ₹42.20 per kg is expected to further benefit margins. The company’s CapEx of ₹340 crore will be deployed in three tranches, with ₹231 crore already incurred by March 2026 and ₹109 crore to be spent in Q4 FY26 and Q1 FY27. The water business order book stands at ₹1,500 crore, of which ₹1,077 crore is from long-term O&M contracts. These developments position the company for sustained growth in high-margin segments and enhanced shareholder value creation.
Peer Comparison
| Company | P/E | ROE | ROCE | Market Cap (₹ Cr) |
|---|---|---|---|---|
| Triveni Engineering & Industries | 38.57 | Not available | Not available | 8,190.07 |
| Hindustan Unilever Limited | 36.79 | 29.38% | 27.39% | 5,33,874.13 |
| ITC Limited | 11.06 | 50.02% | 38.91% | 3,87,724.39 |
| Nestle India Limited | 84.59 | 81.33% | 93.64% | 2,75,845.36 |
Triveni’s P/E ratio of 38.57 is higher than ITC and comparable to Hindustan Unilever, but significantly lower than Nestle India. However, peer ROE and ROCE data are not provided for Triveni, limiting direct profitability and efficiency comparison. The company’s market capitalization is ₹8,190.07 Cr, placing it below large-cap peers like Hindustan Unilever and Nestle India but above mid-cap benchmarks.
Risks & Concerns
Quarterly Trend
| Quarter | Revenue (₹ Cr) | Net Profit (₹ Cr) | OPM% |
|---|---|---|---|
| Q3FY25 | 1,600.3 | 42.57 | 4.82 |
| Q2FY25 | 1,748.33 | -22.42 | 0.27 |
| Q1FY25 | 1,534.03 | 30.99 | 5.62 |
| Q4FY24 | 1,548.12 | 161.04 | 15.86 |
The company’s profitability showed significant improvement in Q4 FY24 with an OPM of 15.86%, up from 5.62% in Q1 FY25 and a loss of ₹22.42 Cr in Q2 FY25. This indicates strong recovery and margin expansion, particularly driven by sugar and distillery segments. However, the latest reported OPM for Q4 FY26 is not provided in the data.
About Triveni Engineering & Industries Limited (TRIVENI)
Fast Moving Consumer Goods · Agricultural Food & other Products · Listed on NSE
Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.