Profit before tax from continuing operations stood at Rs 255.17 crore in Q4 FY25, up 17.73% from Rs 216.74 crore in the same quarter last year.

In Q4 FY25, EBITDA stood at Rs 317.4 crore, recording growth of 21.51% from Rs 261.2 crore posted in the same quarter last year. However, the EBITDA margin contracted to 19.5% in Q4 FY25 from 20.1% in Q4 FY24.

Revenue from the sugar business grew by 16.29% to Rs 1,078.69 crore in Q4 FY25 from Rs 927.51 crore in Q4 FY24.

The alcohol (distillery) business reported revenue (net of excise duty) of Rs 451.55 crore during the quarter, marking a growth of 38.1% compared to Rs 326.81 crore in Q4 FY24. Production increased by 29.9% year-on-year to 63,732 KL, while sales volumes rose 38.7% to 62,256 KL in Q4 FY25 as against Q4 FY24.

Revenue from the power transmission business increased by 58.30% to Rs 139.59 crore in Q4 FY25, up from Rs 88.18 crore in the same quarter last year. The outstanding order book reached an all-time high of Rs 389.4 crore as on 31 March 2025, which includes long-duration orders worth Rs 178.3 crore.

Further, revenue from the water business soared 41.76% to Rs 94.02 crore in Q4 FY25 from Rs 66.32 crore in Q4 FY24. The outstanding order book as on 31 March 2025 stood at Rs 1,600.8 crore, which includes Rs 1,120 crore towards O&M contracts for a longer period of time.

Dhruv M. Sawhney, chairman and managing director of Triveni Engineering & Industries, said, “The year gone by presented several profitability challenges to the company, especially in the sugar and alcohol businesses, while our power transmission business delivered another year of stellar performance in revenues, profitability, and order booking. The company is hopeful of an improved performance in the coming year through proactive measures in our sugar and alcohol businesses.

Following the general trend of lower sugarcane crush and recoveries in the state of Uttar Pradesh, the sugarcane crush for the company (on a standalone basis) in the just concluded Sugar Season (SS) 2024-25 was marginally lower at 8.19 million tonnes. The decline in crush took place in four sugar units: Rani Nangal, Milak Narayanpur and Chandanpur in the Central UP and Ramkola in the Eastern UP. The chief reasons are the climatic factors, such as heavy rainfall and waterlogging in certain regions, and the spread of pests and red rot disease, which reduced the yields and recovery considerably. The sugarcane development teams have chalked out multi-pronged strategy to improve performance through an intensive continued push for a varietal substitution programme to reduce the proportion of the vulnerable variety Co238, especially in low-lying/water-logging-prone areas and to substitute it by other high-sucrose and high-yield varieties. In addition, our focus would also be on crop protection through rigorous surveillance and large-scale preventives and extensive farmer engagement, especially on nurtured demo plots to showcase higher yields through superior agronomic practices.

Sugar prices have remained at healthy levels during FY 25, particularly in Q4 FY 25. We expect these trends to continue given the lower sugar stocks in the country on a year-on-year basis. We believe that a continually increasing portfolio of refined sugar and pharmaceutical-grade sugar production, which now stands at 73% of overall sugar production, augurs well for sugar realizations for the company. We continue to make judicious investments in our facilities to enhance sugarcane crush rate, sugar quality, and efficiencies.

In our alcohol business, the company commissioned a new multi-feed distillery during the year at Rani Nangal, which boosted production over the previous year. However, the profitability was severely affected, majorly due to low-margin maize operations, lower sales volume of ethanol produced from molasses and non-recovery of fixed expenses during the period the distilleries remained closed due to shortage of feedstocks. In view of firm sugar prices, we switched operations in our sugar units (except one) to C-heavy molasses in the latter part of the season. While this strategy improves the overall profitability of the company, it reduces the profitability of the alcohol business due to lower sales volume of ethanol. We are focusing on improving the sugarcane crush, which will also help in increasing molasses availability and address supply chain issues relating to grain operations to improve the margin structure. With the option of three grain feedstocks—maize, SFG, and damaged food grains (DFG)—we are aiming to be nimble to seize all opportunities to lower procurement costs. We are also hopeful that the government will address the feedstock and profitability challenges in various feedstocks as it remains committed to the Ethanol Blended Petrol (EBP) program with the formation of an inter-ministerial group to work on a roadmap beyond EBP-20, i.e., 20% blending targets by 2025-26.

In our engineering businesses, the power transmission business reported remarkable performance with new milestones achieved with respect to revenues, profitability and order booking in FY 25. During the year, the company also secured multiple breakthrough qualification orders across targeted geographies and industries in Gears, enhancing its competitive positioning and supporting its strategic objective of expanding its global footprint. The business is also executing expansions to scale up operations to an annual capacity in the Gears segment alone to Rs 700 crore (up from Rs 400 crore presently) by September 2026. Our intensified marketing efforts globally, coupled with the capacity enhancement programme are positioning us well for sustained growth. In the water business, the year that went by was muted in terms of market activity and finalization of orders. We expect this to improve in the coming years, and the business is well-placed in terms of bids and credentials.

The proposed scheme for amalgamation with SSEL and demerger of the power transmission business is awaiting approval of stock exchanges/SEBI. The scheme is expected to enhance value discovery and operational efficiencies. This development reflects an ongoing commitment to delivering sustainable growth and long-term returns to our stakeholders.”

Meanwhile, the company’s board has recommended a dividend of Rs 2.50 per equity share for the financial year ended 31 March 2025, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). The board has also fixed Monday, 1 September 2025, as the record date for the purpose of ascertaining the entitlement of members/beneficial owners to the said dividend.

Triveni Engineering & Industries (TEIL) is a diversified industrial conglomerate having core competencies in the areas of sugar, alcohol, power transmission, and water. The company is one of India's largest integrated sugar manufacturers and one of the largest ethanol manufacturers, while making significant contributions in power transmission and in water & wastewater treatment solutions.