Triveni Engineering & Industries Ltd net sales up 31% in H1 FY 2010
Written by James   
Tuesday, 11 May 2010
New Delhi: Triveni Engineering & Industries Ltd has registered an increase in net sales by 31% to Rs. 1081 crore in H1 FY 2010 over H1 FY 2009. It's Profit after tax (PAT) has gone up by 42% at Rs. 87.8 crore. The Engineering businesses achieved a growth of 41% in turnover with 37% growth in PBIT in Q2 FY 2010 over Q2 FY 2009.

"All the three engineering businesses showed improved performance during the current quarter and half year under review with strong increase of 40% and 33% in turnover and profitability over the previous first half. The total order book of Rs. 854 crore, is higher by 14% when compared with the beginning of the year," said Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd.

"Further, during the current quarter under review, the turbines business achieved robust order booking in the face of stiff competition. With all our three engineering businesses having healthy order book which will be executed in the coming quarters, we believe that the growth in these business segments should be strong going forward," he added.

"With the two major business initiatives undertaken during this period viz., approval for demerger of turbines business into a separate company and a joint venture with GE Oil & Gas, we believe our turbines business is getting into higher growth trajectory in the years to come and our endeavor will be to create value to shareholders in future through appropriate actions in our other businesses as well," he said.

Triveni is one of India's leading companies engaged in the manufacture of sugar and engineered-to-order mechanical equipment, such as steam turbines, high speed gears and water and wastewater treatment equipment. The Company's turbine manufacturing and gear manufacturing facilities are located at Bengaluru and Mysore respectively while the Water & Waste water treatment business is located at Noida.

The Company is one amongst the largest sugar manufacturers in India, and the market leader in its engineering businesses comprising steam turbines, high speed gears, gearboxes, and water treatment solutions. Triveni currently has seven sugar mills in operation at Khatauli, Deoband, Sabitgarh, (all in western Uttar Pradesh), Chandanpur, Raninagal and Milak Narayanpur (all in central Uttar Pradesh) and Ramkola (eastern Uttar Pradesh). Triveni's sugar crushing capacity is 61,000 TCD. The Company also has a total co-generation capacity of 68 MW located in two of its major facilities viz., Khatauli (46 MW) & Deoband (22 MW) and a 160,000 litre per day capacity distillery at Muzaffarnagar.

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