Triveni Engineering says no demerger plans, focus on expanding ethanol capacity
In an interview with CNBC-TV18, Tarun Sawhney, Vice Chairman and Managing Director of Triveni Engineering and Industries clarified that the board has not considered any demerger discussions for the company's engineering segment.
Triveni Engineering and Industries has no plans for demerging its engineering business, said Tarun Sawhney, the Vice Chairman and Managing Director. In an interview with CNBC-TV18, Sawhney clarified that the board has not considered any demerger discussions for the company's engineering segment.
He said, “The board has not considered any demerger of any of our businesses. We have a buoyant engineering business. In fact, our engineering business PBIT for the first time in our history went above Rs 100 crore for the year, but there are no plans for a demerger.”
Triveni Engineering and Industries has been actively focusing on expanding its ethanol capacity. Sawhney highlighted that in FY23-24, the company anticipates its ethanol production capacity to reach 21 crore liters.
Looking forward to the subsequent fiscal year, FY25, Triveni aims to further elevate its ethanol capacity to 31 crore liters. This strategic decision aligns with the company's commitment to contribute to the renewable energy sector by leveraging the potential of ethanol production.
Despite these developments, the company still recognises the potential for sugar exports. Triveni Engineering and Industries sees scope in capitalizing on the international sugar market. With global demand for sugar persisting, the company anticipates opportunities to export its sugar products.
Moreover, the sugar industry is experiencing positive trends in terms of realisations. Sawhney stated that sugar realizations can climb up to Rs 37,000 per tonne. This upward movement in prices can significantly impact Triveni's sugar division, contributing to higher revenues and profitability.
The company, on Wednesday, reported a healthy 30 percent quarter-on-quarter (QoQ) increase in net profit at Rs 189 crore for the fourth quarter that ended on March 31, 2023.
Also Read | Triveni Engineering Q4 | Net profit jumps 30% to Rs 189 crore, revenue up 8% to Rs 1,835 crore
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