Triveni Engineering and Industries Q3 Results Review - Sugar And Gear Segments Shine; Maintain Buy: Systematix

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Report.Triveni Engineering and Industries Ltd.'s revenues slipped 6% YoY to Rs 15.5 billion, 11% more than our estimate. Revenue fell due tolower sugar sales,operational delays in certain projects in the water business, which caused 49% YoY decrease in segment turnover.However, healthy 17% YoY revenue growth in the Power Transmission Business and 8% YoY growth in the distillery (net of excise) segment on higher sales volumes offset the decline to an extent. Ebitda was flat YoY at Rs 1.9 billion, but 17% above our estimate of Rs 1.7 billion.Ebitda margin expanded 76 basis points YoY to 12.4% on improved profitability in the sugar and gear segments. Other income fell by 41% YoY to Rs 219 million, finance cost declined 20% YoY to Rs 65 millon and depreciation increased by 10% YoY. Consequently, profit before tax fell 8% YoY to Rs 1.8 billion. Profit after tax dropped 7% YoY to Rs 1.4 billion (30% above our estimate).Net debt (consolidated) as on December 31 2023 increased to Rs 2.3bn versus Rs 1 billion as on September 30 2023. TRE has acquired 25.43% stake in Sir Shadi Lal Enterprises and has given an open offer to acquire additional 26% shares. SSLE has an installed cane crushing capacity of 7,500 TCD and crushed 0.998 million tonne of cane during FY23 at a recovery rate of 10.15%. It also has a 100 kilo litres per day distillery..Click on the attachment to read the full report:.PNC Infratech Q3 Results Review - Inline; SPA Signed For Asset Monetisation: Centrum Broking.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Triveni Engineering and Industries Q3 Results Review - Sugar And Gear Segments Shine; Maintain Buy: Systematix

Sugar division – Uptick in realizations improved profitability

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Triveni Engineering and Industries Q3 Results Review - Sugar And Gear Segments Shine; Maintain Buy: Systematix

Sugar division – Uptick in realizations improved profitability

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