Triveni Engineering Q2 Review - Distillery Segment Continues To Deliver Healthy Growth: Dolat Capital

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Dolat Capital Report

Triveni Engineering and Industries Ltd.'s revenues de-grew by 8.6% YoY to Rs 10.7 billion impacted by lower sugar dispatches which were down by 21% YoY on account on lower monthly sugar quota allocation.

Gross margins improved by 632 basis points YoY to 26.1% led by higher proportion of B-heavy ethanol sales and higher sugar realisations.

Triveni Engineering's Ebitda grew by 37.8% YoY to Rs 1.1 billion resulting in an Ebitda margin expansion of 338 bps YoY to 10%.

Higher share of profits from associate coupled with lower tax rate at 23.9% (versus 39% in Q2 FY21) resulted in profit after tax growth of 197% YoY to Rs 925 million.

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