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Home arrow Business News arrow Triveni's gear and water business order book at Rs 520 crore
Triveni's gear and water business order book at Rs 520 crore Print E-mail
Written by Viswanath   
Wednesday, 30 November 2011
New Delhi: Triveni Engineering & Industries Ltd., a manufacturer of engineered-to-order high speed gears & gearboxes and a leading player in water and waste water management business, recorded a 17 percent increase in net sales and 15% PBT growth in its Engineering Businesses, for the financial year 2011 and fourth quarter ended 30th September 2011.

"The company's performance of two engineering businesses has also been good, especially in the current economic scenario. Both gears and water businesses witnessed growth in turnover as well as profitability and is carrying a strong order book of Rs 520 crore into FY 12,"said Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd.

"Our engineering businesses are geared up to take advantage of any economic turnaround. The long term technology tie-ups concluded in our gears business will not only help us in consolidating our position in the existing line of business, but also help us to enhance our product portfolio and geographies considerably which will lead to enhanced potential for profitable growth going forward," he said.

The company has entered the niche low speed gear manufacturing sector with Technology License Agreement with Lufkin.

The Scheme of Arrangement involving demerger of the Steam Turbine Business to Triveni Turbine Limited (TTL) has become effective on 21.04.2011 from the appointed date on 01.10.2010. The financials of the quarter and year ended 30.09.2011 do not include the financials of Steam Turbine Business and are not comparable with the previous periods.

The company is also one of the largest integrated sugar producers in the country with 61000 TCD sugarcane crushing capacity, 68 MW of co-generation, 160KLPD of distillery.

"FY 11 witnessed a good performance despite difficult year for the sugar business. Sugar Businesses registered a profit before interest and tax at Rs 52.9 crore as against a loss of Rs 22.2 crore in the previous financial year. Even though the cane price announced by Uttar Pradesh Government will bring additional burden on the industry in terms of higher cost of production, the Government's announcement of export of one million tonne of sugar and withdrawal of the stock limits for sugar are two positive moves, which in our belief should help in strengthening the sugar prices. A healthy and stable sugar prices with integrated operations of co-generation and distillery will help the industry to maintain its profitability and allow it to pay remunerative prices to farmers for their produce," said Dhruv M. Sawhney.

 
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