Triveni Engineering recorded highest sugarcane crush and Record Sugar Production

 
NOIDA, India - June 17, 2020 - PRLog -- Achieved highest ever Revenue from Operations at Rs 4436.6 crore on a consolidated basis in FY 20, a growth of 41%; Profit before Tax at Rs 445.6 crore a growth of 66%; Highest Profit after Tax at Rs 335.1 crore, a growth of 55%
Record 8.7 MT sugarcane crushed and over 1 MT of Sugar Production for the Company in Sugar Season 2019-20; Khatauli Sugar Mill achieved highest sugarcane crush and sugar production in the Country. Gears & Water business maintained its growth trend and registered higher turnover & profitability. Outstanding order book of Rs 1147.28 crore for combined Engineering Businesses.
Commenting on the Company's financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Engineering & Industries Ltd, said: "The Company has delivered extraordinary results for the year under review. While the Engineering businesses were closed for brief periods during the lockdown, the sugar business operated without any interruption. It faced supply chain challenges but these were overcome due to the active support of both the State and Central Government. Engineering businesses have since then resumed operations in a phased manner but are still constrained by supply chain and most importantly, return of normalcy in order booking, which will be dependent on how the pandemic is controlled and how our concerned industrial segments and geographies resume their normal operations. We are proud that Triveni achieved its highest sugarcane crush of 8.75 million tonnes with a sugar production of over one million tonnes in the just concluded season. Further, our largest unit at Khatauli has also emerged as the number one sugar mill in the country in terms of sugarcane crush and sugar production. During the lockdown period, the sugar consumption has been affected due to reduced institutional demand which may affect domestic consumption by ~ 0.5 million tonnes during SS 2019-20. Likewise, fuel consumption also plummeted during the lockdown period which in turn impacted offtake of Ethanol but it was possible to work out arrangements with Oil Marketing Companies (OMCs) to deliver part of the quota of ethanol to some distant depots and consequently, the plant operated at full capacity. Despite higher production, the Company has managed its sugar inventories well through aggressive exports and production of ethanol through B-heavy molasses, which in turn led to higher domestic quota. Both the engineering businesses have performed in line with our expectation. The Gears business achieved a higher turnover of 16% over the previous year and a higher profit margin of 27% over the previous year. The Water Business has registered better performance in terms of turnover & profitability on account of healthy carry forward order book which is under execution even though the order finalization had been slow during the period under review.
https://www.trivenigroup.com

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Neha Arora
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Tags:Financial Results
Industry:Business
Location:Noida - Uttar Pradesh - India
Subject:Earnings
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