TRIVENI
Triveni Engineering & Industries share price & financials
- Price
- ₹472.15
- Market cap
- ₹5.4k Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 6
Triveni Engineering & Industries Limited Q1 FY27
What went well
- Revenues from operations grew by 2% YoY to ₹1,581 crores, supported by higher sugar sales volumes and better sugar realisation.
- EBITDA increased by 6% YoY, and Profit Before Tax (PBT) turned positive at ₹5 crores compared to a loss of ₹9 crores in Q1 FY26.
- Consolidated average cost of funds significantly reduced by 70 basis points to 6.8% during the quarter.
What to watch
- Lower alcohol offtake and slightly lower water revenue partly offset the overall revenue growth.
- Water business revenue declined by 21% YoY to ₹43 crores, with PBIT falling to ₹2 crores due to slower EPC job execution.
What Triveni Engineering & Industries Limited does
Triveni Engineering & Industries is a diversified conglomerate operating eight sugar mills across western, central and eastern Uttar Pradesh, integrated forward into five ethanol/alcohol distilleries (molasses and grain based) and bagasse-based power co-generation. It also runs a Power Transmission Business that manufactures high-speed gears, gearboxes and defence-grade propulsion/marine equipment sold domestically and exported to 90+ countries, and a Water Business that designs, builds and operates municipal and industrial water/wastewater treatment plants. Sugar by-products (molasses, bagasse, press mud) feed the alcohol, power and fertiliser value chains, while the alcohol business sells fuel-grade ethanol to oil marketing companies and IMIL/IMFL liquor brands in Uttar Pradesh. The Power Transmission Business (TPTL) is being demerged into a separately listed entity, expected by end-August 2026.
Segments
- Sugar
- Alcohol/Distillery
- Power Transmission
- Water
- Sugarcane crushing capacity
- 70,500 TCD across 8 sugar plants
- Alcohol/distillery capacity
- 860 KLPD across 5 distilleries (4 locations)
- Power co-generation capacity
- 104.5 MW
- High-speed gearbox installations
- >12,500 installations across 90+ countries
- Water & wastewater treated via Triveni projects
- >12,200 MLD (million litres/day)
- Water installations across India
- 1,200+
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 3 delivered 6 missed 6 open- Power Transmission Business Demerger Timeline delivered said Q4 FY25 Promised: Separation of the PTB business by Q4 of this fiscal year (FY26) Q1 FY27: The composite scheme of arrangement became effective from May 19, 2026, and the business was vested in TPTL from April 1, 2026. The demerger action is complete.
- Power Transmission Annual Capacity went quiet said Q4 FY25 Promised: Scale up operations to an annual capacity of approximately ₹700 crore by September 2026 Q1 FY27: No specific update on the progress towards the ₹700 crore annual capacity target. The business has been demerged into TPTL.
- TPTL Listing Timeline delayed said Q4 FY26 Promised: Listing of Triveni Power Transmissions Limited by the end of August 2026 Q1 FY27: Listing now expected in approximately four to six weeks from July 30, 2026, pushing the timeline to mid-to-late September 2026.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 2.1%, net profit up 73.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,491 | 1,268 | 1,629 | 1,548 | 1,706 +14% | 1,478 +17% | 1,408 −14% | 1,581 +2% |
| EBITDA | 5 | 77 | 308 | 37 | 66 +1343% | 150 +94% | 236 −23% | 53 +44% |
| Net profit | -22 | 43 | 187 | 2 | 21 +195% | 78 +83% | 167 −11% | 4 +74% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.8% 1Y
1Y: ₹348.8 on 10 Sept 2025 → ₹255.4. High ₹477.15 (13 Jul 2026), low ₹221.5 (31 Jul 2026).
How the price took the results
close before → close after
- Q1 FY27
- −3.2%
- 30 Jul
- Q4 FY26
- +2.7%
- 4 Jun
- Q3 FY26
- +1.5%
- 2 Feb
- Q2 FY26
- +0.9%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 3.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹5.6k Cr | ₹5.2k Cr | ₹5.7k Cr | ₹6.1k Cr |
| Operating profit | ₹615 Cr | ₹626 Cr | ₹476 Cr | ₹489 Cr |
| Operating margin | 10.9% | 12.0% | 8.4% | 8.0% |
| Interest | ₹57 Cr | ₹56 Cr | ₹83 Cr | ₹100 Cr |
| Depreciation | ₹93 Cr | ₹104 Cr | ₹126 Cr | ₹134 Cr |
| Net profit | ₹1.8k Cr | ₹395 Cr | ₹238 Cr | ₹269 Cr |
| Net margin | 31.9% | 7.6% | 4.2% | 4.4% |
| Cash from operations | ₹397 Cr | ₹100 Cr | ₹-106 Cr | ₹188 Cr |
| Free cash flow | ₹162 Cr | ₹-255 Cr | ₹-404 Cr | ₹6 Cr |
| ROCE | 18.0% | 15.0% | 9.0% | 9.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹24 Cr | ₹24 Cr | ₹22 Cr | ₹22 Cr | ₹22 Cr | ₹22 Cr |
| Reserves | ₹1.5k Cr | ₹1.9k Cr | ₹2.6k Cr | ₹2.9k Cr | ₹3.1k Cr | ₹3.3k Cr |
| Borrowings | ₹990 Cr | ₹1.6k Cr | ₹929 Cr | ₹1.4k Cr | ₹768 Cr | ₹2.2k Cr |
| Other liabilities | ₹1.1k Cr | ₹815 Cr | ₹865 Cr | ₹799 Cr | ₹837 Cr | ₹1.0k Cr |
| Total liabilities | ₹3.6k Cr | ₹4.3k Cr | ₹4.5k Cr | ₹5.1k Cr | ₹4.7k Cr | ₹6.5k Cr |
| Fixed assets | ₹1.1k Cr | ₹1.1k Cr | ₹1.5k Cr | ₹1.5k Cr | ₹2.3k Cr | ₹2.4k Cr |
| Capital work in progress | ₹22 Cr | ₹257 Cr | ₹28 Cr | ₹226 Cr | ₹82 Cr | ₹14 Cr |
| Investments | ₹146 Cr | ₹193 Cr | ₹6 Cr | ₹55 Cr | ₹10 Cr | ₹7 Cr |
| Other assets | ₹2.4k Cr | ₹2.8k Cr | ₹3.0k Cr | ₹3.3k Cr | ₹2.3k Cr | ₹4.1k Cr |
| Total assets | ₹3.6k Cr | ₹4.3k Cr | ₹4.5k Cr | ₹5.1k Cr | ₹4.7k Cr | ₹6.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +1.48 pp while DIIs trimmed −1.23 pp. The shareholder count shrank 9% to 96,867.
- Promoters
- 60.6%
- FIIs
- 7.7%
- DIIs
- 7.6%
- Public
- 24.1%
Since Jun 2025
- FIIs +1.48 pp
- DIIs −1.23 pp
- Promoters −0.40 pp
How it drifted, 12 quarters
Over this window FIIs went from 4.3% to 7.7% — +3.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 61.0%, FIIs 4.3%, DIIs 8.5%, Public 26.2%.Dec '23: Promoters 61.0%, FIIs 4.4%, DIIs 8.5%, Public 26.1%.Mar '24: Promoters 61.0%, FIIs 4.9%, DIIs 8.6%, Public 25.5%.Jun '24: Promoters 61.0%, FIIs 4.8%, DIIs 8.8%, Public 25.4%.Sep '24: Promoters 61.0%, FIIs 4.7%, DIIs 10.0%, Public 24.4%.Dec '24: Promoters 61.0%, FIIs 5.2%, DIIs 9.7%, Public 24.1%.Mar '25: Promoters 61.0%, FIIs 5.6%, DIIs 9.5%, Public 24.0%.Jun '25: Promoters 61.0%, FIIs 6.2%, DIIs 8.9%, Public 23.9%.Sep '25: Promoters 61.0%, FIIs 5.7%, DIIs 8.3%, Public 25.0%.Dec '25: Promoters 61.0%, FIIs 7.0%, DIIs 8.5%, Public 23.5%.Mar '26: Promoters 61.0%, FIIs 7.4%, DIIs 8.2%, Public 23.4%.Jun '26: Promoters 60.6%, FIIs 7.7%, DIIs 7.6%, Public 24.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Hara Global Capital Master Fund I Ltd FPI fund +0.22 pp 1.32% held
The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Triveni Engineering & Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Stfl Trading And Finance Private Limited | 36.16% | −0.24 pp |
| Dhruv Manmohan Sawhney | 8.29% | −0.05 pp |
| Nikhil Sawhney | 5.89% | unchanged |
| Tarun Sawhney | 5.67% | unchanged |
| DSP Small Cap Fund Mutual fund | 4.51% | −0.43 pp |
| Anil Kumar Goel | 3.54% | unchanged |
| Rati Sawhney | 2.83% | unchanged |
| Man Mohan Sawhney Huf | 1.73% | unchanged |
| Hara Global Capital Master Fund I Ltd FPI fund | 1.32% | +0.22 pp |
| Sona India Investments Llc FPI fund | 1.11% | unchanged |
| Manohar Devabhaktuni | 1.06% | unchanged |
| Seema Goel | 1.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Triveni Engineering & Industries Limited
Guides on how to read this kind of business and the numbers that matter.