72 slides from Triveni Engineering And Industries's earnings presentation, May 2023
Slide 1: Stock exchange filing cover letter for investor presentation
• !gg.....- +91 120 4308100 0 +91120 4311010/11 ~ www.trivenigroup.com By E-filing REF·TEIL·SE· BSE Limited National Stock Exchange of India Ltd., P.J. Tower, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), MUMBAI -400 001 MUMBAI - 400 051 Thru: BSE Listing Centre Thru: NEAPS S
Slide 2: Investor Presentation Q4 & FY 23
Investor Presentation Q4 & FY 23 May 2023 1
Slide 3: Agenda
AGENDA COMPANY OUR 5-YEAR FINANCIAL BUSINESS-WISE SHAREHOLDING OVERVIEW JOURNEY RESULTS UPDATE PATTERN Q4/FY 23 2
Slide 4: Company Overview
COMPANY OUR 5-YEAR FINANCIAL BUSINESS-WISE SHAREHOLDING OVERVIEW JOURNEY RESULTS UPDATE PATTERN Q4/FY 23 3
Slide 5: Company Overview
COMPANY OVERVIEW Integrated and diversified conglomerate in areas of sugar, ethanol and engineering Located strategically in sugarcane-rich western and central belt of Uttar Pradesh Among the Top 3 manufacturers in India for sugar & second highest supplier for ethanol* Dominant market player in the
Slide 6: Business Overview
BUSINESS OVERVIEW SUGAR ALCOHOL POWER TRANSMISSION WATER SOLUTIONS • 7 FSSC 22000 certified sugar • 4 state-of-the-art alcohol • 3 business segments – Gears, • Leading solutions provider for plants in U.P., India producing facilities with Defence, Built to Print efficient water management for • ~330
Slide 7: Our Pan-India Footprint
OUR PAN-INDIA FOOTPRINT ~204K Hectare Area under Sugarcane ~330K Farmer Network ~61,000 Tonnes per day crushing capacity TEIL PLANTS TRIV ENI WATER PROJECTS Note: Map for representation purpose and not to scale OUR SERVICE LOCATIONS COMPANY OVERVIEW OUR 5-YEAR JOURNEY FINANCIAL RESULTS Q4/FY 23 BUSI
Slide 8: Founding Principles
FOUNDING PRINCIPLES STRONG ETHICS SUSTAINABILITY PRODUCT QUALITY TECHNOLOGY RELATIONSHIPS • Professional and • Leadership in all our • Best in class • Consistent R&D of • Sustainable solutions transparent business business lines with manufacturing technology to surpass that create a high practices s
Slide 9: ESG Principles
ESG PRINCIPLES Maintaining ecological balance while Best-in-class sustainable processes and ensuring business excellence solutions across our operations and units Allocation of capital with focus to reduce Fostering Community Development carbon footprint and promote energy And Social Empowerment eff
Slide 10: Our ESG Driven Approach to Business
OUR ESG DRIVEN APPROACH TO BUSINESS ENVIRONMENTAL SOCIAL GOVERNANCE • Power generation through bagasse, a renewable source • Farmer relations through continuous • Diverse Board of Directors with broad- of energy & co-product of sugar operations communication based functional and managerial • Utilisi
Slide 11: Our 5-Year Journey
COMPANY OUR 5-YEAR FINANCIAL BUSINESS-WISE SHAREHOLDING OVERVIEW JOURNEY RESULTS UPDATE PATTERN Q4/FY 23
Slide 12: 5-Year Highlights
5-YEAR HIGHLIGHTS Well Diversified and • FY 19-23 Gross Revenue CAGR 19.0% Growing Revenues • Rising revenue contribution from non-sugar business from 21% to 34% during FY 2019-23 Progressively • FY 19-23 PBIT CAGR 17.5% improving profitability • Sugar contribution progressively reducing; from 66% i
Slide 13: Well Diversified and Growing Revenue Base
WELL DIVERSIFIED AND GROWING REVENUE BASE FY 19-23 Revenue CAGR 19.0% Rising non-sugar contribution from 21% to 34% during FY 2019-23 Revenue from Operations (Gross)* Segment-wise Contribution to Revenue from Operations# ₹ Crore 2% 2% 2% 3% 3% 8% 7% 6% 6% 6,310 11% 6% 7% 9% 16% 4% 3% 3% 4% 21% 4% 4,
Slide 14: Progressively Increasing Profitability with Healthy Non-Sugar Contribution
PROGRESSIVELY INCREASING PROFITABILITY WITH HEALTHY CONTRIBUTION FROM NON-SUGAR BUSINESSES FY 19-23 PBIT CAGR 17.5% Sugar contribution progressively reducing; 49% in FY 2023 Profit Before Interest and Tax (PBIT) Segment-wise PBIT Contribution 2% 4% 5% 5% 4% ₹ Crore 11% 9% 8% 10% 13% 21% 19% 576 603
Slide 15: Strong Balance Sheet Position
STRONG BALANCE SHEET POSITION Total Consolidated Debt (₹ Crore) Total Consolidated Debt To Equity (x times) 1,725.9 1,558.2 1,568.0 1.51 994.0 913.8 1.16 0.64 0.82 0.32 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 Average Cost of Debt (Standalone) Long-term credit rating ICRA AA ICRA
Slide 16: Creating Shareholder Value
CREATING SHAREHOLDER VALUE Cash Generation during FY 19-23 ₹ 3581 crore Capital Dividends & Buybacks Funds Retained for Expenditure* (incl. taxes) Working Capital ₹ 929 crore ₹ 1,415 crore ₹ 1,237 crore (26% of cash (40% of cash (34% of cash generation) generation) generation) Healthy mix of investm
Slide 17: Enhancing Shareholder Returns Through Buybacks & Dividends
ENHANCING SHAREHOLDER RETURNS THROUGH COMBINATION OF BUYBACKS & DIVIDENDS ₹ Crore Buyback of Shares Dividend Dividend Payout Ratio (%) 800 100 78.6 71.1 21% 65 15% 17% 42.3 10% 10% 27.3 18.1 FY 20 FY 21 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 Past history of returning cash
Slide 18: Financial Results Q4/FY 23
= COMPANY OUR 5-YEAR FINANCIAL BUSINESS-WISE SHAREHOLDING OVERVIEW JOURNEY RESULTS UPDATE PATTERN Q4/FY 23 17
Slide 19: FY 23: A Year of Many Milestones
FY 23: A YEAR OF MANY MILESTONES • Highest-ever turnover for the Company Record Turnover • Record turnover across business segments • Combined engineering business turnover crosses ₹ 500 crore to reach revenues of ₹ 577 crore Impressive • Highest-ever EBITDA for the Company • Combined engineering bu
Slide 20: Financial Highlights Q4 / FY 23
FINANCIAL HIGHLIGHTS Q4 / FY 23 ₹ Crore Q4 FY 23 Q4 FY 22 Change (%) FY 23 FY 22 Change (%) Revenue from Operations (Gross) 1,818.3 1,192.1 52.5 6,310.1 4,694.0 34.4 Revenue from Operations (Net of excise duty) 1,582.6 1,070.0 47.9 5,616.8 4,290.9 30.9 EBITDA 284.8 177.7 60.3 696.3 656.6 6.1 EBITDA
Slide 21: SS 2022-23: Record Sugarcane Crush in the Season
SS 2022-23: RECORD SUGARCANE CRUSH IN THE SEASON Sugarcane Crushed (Million Tonnes) Sugar Production (Tonnes) Net Recovery (%) +10.9% +7.5% 9.33 10.55 953436 10.23 8.41 887171 SS 2021-22 SS 2022-23 SS 2021-22 SS 2022-23 SS 2021-22 SS 2022-23 Record crush in SS 2022-23 owing to continued investments
Slide 22: Sugar: Higher Dispatches and Realisations
SUGAR: HIGHER DISPATCHES AND REALISATIONS Sugar Dispatches (Tonnes) Average Blended Realization (₹/MT) +21.2% +4.2% +3.9% 1023041 844159 +36.6% 117349 38066 36345 36070 905692 34994 34603 267770 806093 195953 55303 195953 212467 4Q FY 22 4Q FY 23 FY 22 FY 23 4Q FY 22 4Q FY 23 FY22 FY23 Domestic Expo
Slide 23: Sugar: Higher Revenues; Profitability Impacted in FY 23
SUGAR: HIGHER REVENUES; PROFITABILITY IMPACTED IN FY 23 ₹ Crore REVENUE PBIT -20.9% +25.6% +33.9% +38.3% 386.51 4,361.95 3,473.85 305.83 163.89 1,170.92 122.44 846.81 Q4 FY 22 Q4 FY 23 FY 22 FY 23 Q4 FY 22 Q4 FY 23 FY 22 FY 23 • Revenues boosted by higher sales volumes and sugar realisations • Profi
Slide 24: Sugar: Healthy Domestic Prices Supported by Premium Product Mix
SUGAR: HEALTHY DOMESTIC SUGAR PRICES SUPPORTED BY PREMIUM PRODUCT MIX Triveni Sugar Realization (Domestic) (₹/Quintal) FY 2021 FY 2022 FY 2023 3,900 FY 2024 3,800 3,732 3,761 3,717 3,700 3,639 3,653 3,593 3,620 3,615 3,517 3,570 3,568 3,539 3,511 3,600 3,523 3,526 3,505 3,527 3,521 3,513 3,478 3,488
Slide 25: Alcohol: Highest Ever Alcohol Production in FY 23
ALCOHOL: HIGHEST EVER ALCOHOL PRODUCTION IN FY 23 Alcohol Production (KL) +68.4% Alcohol Sales (KL) +53.1% +72.8% 181194 +98.4% 180423 107604 117837 49576 53197 28736 26818 Q4 FY 22 Q4 FY 23 FY 22 FY 23 Q4 FY 22 Q4 FY 23 FY 22 FY 23 Avg. Realisation (₹/litre) • Higher average realization due to incr
Slide 26: Alcohol: Sales Growth Driven by Additional Capacities and Realisations
ALCOHOL: SALES GROWTH DRIVEN BY ADDITIONAL DISTILLATION CAPACITIES AND HIGHER REALISATIONS ₹ Crore NET REVENUE* PBIT +42.2% +75.4% 1172.27 +120.3% +113.2% 212.32 668.5 149.36 356.11 161.33 65.16 30.57 Q4 FY 22 Q4 FY 23 FY 22 FY 23 Q4 FY 22 Q4 FY 23 FY 22 FY 23 * Revenue net of excise duty • Addition
Slide 27: Power Transmission Continues Its Growth Path
POWER TRANSMISSION CONTINUES ITS GROWTH PATH ₹ Crore REVENUE PBIT +22.0% +19.1% +9.9% 225.25 +5.9% 184.63 76.44 64.16 66.59 73.18 24.11 25.53 Q4 FY 22 Q4 FY 23 FY 22 FY 23 Q4 FY 22 Q4 FY 23 FY 22 FY 23 • Increase in FY 23 turnover and profitability driven by product sales across OEMs • In FY 23, the
Slide 28: Power Transmission Closing Order Book Up 17.7% Y-o-Y
POWER TRANSMISSION CLOSING ORDER BOOK UP 17.7% Y-O-Y ₹ Crore Order Booking Closing Order Book +5.1% +17.7% -5.0% 251.04 263.88 260.42 221.34 74.26 70.51 Q4 FY 22 Q4 FY 23 FY 22 FY 23 FY 22 FY 23 • FY 23 order booking and closing order book growth driven by both product and aftermarket segments where
Slide 29: Water: Record Revenues in FY 23
WATER: RECORD REVENUES IN FY 23 ₹ Crore REVENUE PBIT -21.7% +30.3% +7.7% +13.1% 352.17 31.01 270.21 24.28 101.49 114.80 9.52 8.84 Q4 FY 22 Q4 FY 23 FY 22 FY 23 Q4 FY 22 Q4 FY 23 FY 22 FY 23 • Revenues increased by 30.3% driven by better execution • The orders received in FY 23 stood at ₹ 192.08 cror
Slide 30: Water Business Order Booking Remains Robust
WATER BUSINESS ORDER BOOKING REMAINS ROBUST ₹ Crore Closing Order Book** -7.9% 1,512.80 1,393.41 FY 22 FY 23 • The business is actively targeting foreign projects wherever it possesses the pre- qualifications and funding is ensured through multilateral and reputed agencies • Long duration O&M orders
Slide 31: Business-wise Update
COMPANY OUR 5-YEAR FINANCIAL BUSINESS-WISE SHAREHOLDING OVERVIEW JOURNEY RESULTS UPDATE PATTERN Q4/FY 23 30
Slide 32: Sugar
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Slide 33: Global Sugar Outlook
GLOBAL SUGAR OUTLOOK • International Sugar Organization (ISO), expects a substantially reduced surplus of 0.852 million tonnes, down from 4.151 million tonnes in February 2023 in the current season. • Changes were driven by increase in production in Brazil, however the smaller increase in Thailand a
Slide 34: Domestic Sugar Outlook
DOMESTIC SUGAR OUTLOOK • With an opening balance as on October 1, 2022 of around 5.5 million tonnes, estimated sugar production for SS 2022-23 of around 32.8 million tonnes, exports of 6.15 million tonnes, and estimated domestic sales of around 27.2 million tonnes, the closing balance as on Septembe
Slide 35: The Indian Sugar Industry Is Moving Away from Cyclicality
THE INDIAN SUGAR INDUSTRY IS MOVING AWAY FROM CYCLICALITY • Structural shift from a cyclical industry into more secular and consistent performance-based industry driven by timely and predictable Government intervention • Consistent production much above the consumption levels, has led to a surplus a
Slide 36: India Sugar Balance Sheet: Closing Stocks of ~5 Million Tonnes
INDIA SUGAR BALANCE SHEET: CLOSING STOCKS OF ~5 MILLION TONNES EXPECTED FOR SS 2022-23 +2.0 million tonnes* +3.4 million tonnes* +4.0 million tonnes* India Sugar Balance Sheet (million tonnes) 40.0 35.8 31.2 32.8 30.0 26.6 27.3 27.2 20.0 10.7 11.1 10.0 8.2 7.2 6.2 8.2 # # 5.5 5.5 5.0 - Opening Stock
Slide 37: Stellar Sugar Business Performance Year After Year
STELLAR SUGAR BUSINESS PERFORMANCE YEAR AFTER YEAR Area under Sugarcane (Lakh Hectares) Sugarcane Crushed (LQ) 932 2.06 874 854 841 837 1.98 798 1.96 1.94 1.92 1.83 640 1.67 1.67 513 1.57 452 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2014-15 2015-16 2016-17 2017-18 2018
Slide 38: The Triveni USP
THE TRIVENI USP • Strategic Location: Presence in Western and Central UP which has one of the best cane area with high yields and water availability. Strong farmer relations, timely cane payment resulting in high drawl rates and good cane productivity • Strong recovery: The Company has one of the be
Slide 39: Our Sugar Business Initiatives
OUR SUGAR BUSINESS INITIATIVES Ongoing: • Expansion in the capacity of one of the existing sugar units at Sabitgarh by 2000 TCD (from 7000 TCD to 9000 TCD). With the proposed expansion, the total crushing capacity of the Company will stand augmented to 63,000 TCD • Process change to at Milak Narayan
Slide 40: Cane Development Programme
CANE DEVELOPMENT PROGRAMME • Significant focus on Yield improvement through various agronomic interventions (e.g. wide spacing, trench planting, etc.) • Emphasis on before wheat planting has led to an overall increase in its area, providing higher time in the field to the spring planted cane • Activ
Slide 41: Triveni Brands: Getting Future Ready
TRIVENI BRANDS: GETTING FUTURE READY • Triveni sees a bright future for branded sugar in India, set to grow at double digit CAGRs over the next 5 years • Tremendous scope to bring to market higher grade and quality offerings with premiumization trends • Focus on high quality products under trustwort
Slide 42: Alcohol
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Slide 43: Alcohol Segment Driven by Ethanol Demand
ALCOHOL SEGMENT DRIVEN BY ETHANOL DEMAND Ethanol Demand Drivers • Government actively promoting the production and blending of fuel ethanol with petrol, and has targeted 20% blending under Ethanol Blended Petrol (EBP) Programme by 2025 or EBP20 need for renewable fuel for cleaner • To achieve the ta
Slide 44: Sugarcane - The Mainstay of the Ethanol Blending Programme
SUGARCANE - THE MAINSTAY OF THE ETHANOL BLENDING PROGRAMME • Ethanol from sugarcane route 86% 86% 83% 83% continues to dominate and 81% contributes 83-85% of total supplied 73% quantities, despite having a lower share for last two years in terms of contracted quantity. • We believe sugarcane will re
Slide 45: Continued Ethanol Pricing Improvements
CONTINUED ETHANOL PRICING IMPROVEMENTS • Government has been incentivizing the industry through supportive ethanol prices under the EBP Programme • Prices were revised for Ethanol Supply Year (ESY) 2022-23, however we believe that to achieve the aggressive blending targets more support is needed esp
Slide 46: Our Alcohol Business Strengths
OUR ALCOHOL BUSINESS STRENGTHS • Flexibility of both feedstock (grain/sugarcane based) and product mix (ethanol/ENA/Rectified Spirit, etc.) to optimize production and profitability based on economics • High operational efficiencies with continuous focus on the same to further improve recoveries and
Slide 47: Timely and Efficient Investments to Increase Distillation Capacities
TIMELY AND EFFICIENT INVESTMENTS TO INCREASE DISTILLATION CAPACITIES In KLPD • Triveni has been at the forefront of setting up distillation capacities in a ₹ 460 CRORE 1400 timely and efficient manner ₹ 100 CRORE 1110 1200 1000 • Short timeframe in setting ₹ 250 CRORE 650 800 up large scale distille
Slide 48: Our Alcohol Business Initiatives
OUR ALCOHOL BUSINESS INITIATIVES Ongoing: • Overall capacity will be further expanded to 1110 KLPD • Enhancement of cane availability: Higher cane crush will boost availability of sugarcane derived feedstock for distillery operations • Enhancing various value adding propositions through sale of DDGS
Slide 49: Our Value Added Proposition: DDGS
OUR VALUE ADDED PROPOSITION: DISTILLERS DRIED GRAIN SOLUBLES (DDGS) Facilities at Milak Narayanpur & Muzaffarnagar to help us enhance our value proposition through their partial/full operations on grains • The by-product of grain-based operations, DDGS, is a protein rich product derived from grains
Slide 50: Our Value Added Proposition: Fly Ash
OUR VALUE ADDED PROPOSITION: FLY ASH The process of conversion of molasses to ethanol generates spent wash (an effluent) which upon concentration is called Slop, further used as fuel in the Incineration boilers which leads to fly ash generation which is rich in potash We supply this fly ash for addi
Slide 51: Our Value Added Proposition: CO2
OUR VALUE ADDED PROPOSITION: CO 2 • In the fermentation process of alcohol manufacturing, carbon dioxide is generated as a by-product. This carbon dioxide can be captured, purified, liquified and put into cylinders or converted into dry ice. • The Company has a carbon dioxide capturing unit at its S
Slide 52: Power Transmission
POWER TRANSMISSION
Slide 53: Diverse Product Portfolio Addressing a Multitude of Industries
DIVERSE PRODUCT PORTFOLIO ADDRESSING A MULTITUDE OF INDUSTRIES • High power & high speed gears designed for steam turbines, gas turbines, compressors, pumps, blowers, and other special purpose industry applications • Niche low speed gearboxes for mini hydel turbines, steel mills, sugar mills, rubber
Slide 54: Multi-Pronged Strategy in Power Transmission Business
MULTI-PRONGED STRATEGY IN POWER TRANSMISSION BUSINESS Pillars of our strategic approach: • World-class technology • Automation & Digitalisation • Associations & tie-ups • Cost management & efficiencies COMPANY OVERVIEW OUR 5-YEAR JOURNEY FINANCIAL RESULTS Q4/FY 23 BUSINESS-WISE UPDATE SHAREHOLDING P
Slide 55: Foray into Defence
FORAY INTO DEFENCE Our Defence Portfolio: • Propulsion Gearboxes and other critical gearboxes • Critical Turbo and Motor-driven Pumps • Gas Turbine Generators for auxiliary power • Steam Turbines to complex Turbo-Auxiliaries • Fin Stabilisers • Propulsion System Integration • Propulsion Shafting • S
Slide 56: Power Transmission Business Highlights
POWER TRANSMISSION BUSINESS HIGHLIGHTS • Among the largest engineered to order turbo gear manufacturer • Largest domestic market share across OEMs & Patronised by global OEMs across application spectrum like STG/GTG/ Compressor / Pumps / Blower / ID-FD Fans • One of the few companies globally cateri
Slide 57: Our Power Transmission Business Initiatives
OUR POWER TRANSMISSION BUSINESS INITIATIVES Ongoing: • Ongoing expansion of power transmission business at an aggregate cost of ₹ 180 crore for setting up a new multi-modal facility, dedicated to Defence products; a new bay proposed to be set up along with a large grinder, hobber and other supportin
Slide 58: Power Transmission Business Outlook
POWER TRANSMISSION BUSINESS OUTLOOK • Outlook for the domestic product segment within high speed gears is extremely promising as industrial CapEx in sectors like sugar, distillery, oil & gas, cement, steel is growing and have been supported by policies and robust economic growth • Focus on market sh
Slide 59: Water Solutions
ENGINEERING & INDUSTRIES LTD. WATER SOLUTIONS
Slide 60: Water & Wastewater Opportunities and the Way Forward
WATER & WASTEWATER OPPORTUNITIES AND THE WAY FORWARD • Global water crisis: Increased demand for water resources, more than 2 billion people globally live in water stressed countries. Situation is getting worse with climate change • Water is undervalued, and proper incentives are not in place to use
Slide 61: Water: Customised and Sustainable Futuristic Solutions
WATER: TRIVENI‘S CUSTOMISED AND SUSTAINABLE FUTURISTIC SOLUTIONS CUSTOMERS • Industrial • Municipal • Specialized projects MODES OF OPERATION • End-to-end Turnkey / EPC offerings • Build, Own, Operate, Transfer (BOOT) model • Private Public Partnership (PPP) TYPES OF PROJECTS • Water treatment (Raw,
Slide 62: Water Business Highlights
WATER BUSINESS HIGHLIGHTS • EPC solutions for water/wastewater treatment and recycling of water, for industrial and municipal applications • ~10,000 Million Liters Per Day (MLD) water treated • >2,000 process equipment supplied and commissioned • Executed some of the largest projects in India COMPAN
Slide 63: Select Ongoing Water & Wastewater Projects
SELECT ON GOING WATER & WASTEWATER PROJECTS • Awarded the Pali HAM/PPP project • Awarded an EPC Project in Bangladesh under a joint-venture with a local company • Awarded the Bhiwadi 6 MLD Zero Liquid Discharge project • 205 MLD STP (3 Phases) at Kondli based upon new NGT norms for Delhi Jal Board f
Slide 64: Water & Wastewater Developments and the Way Forward
WATER & WASTEWATER DEVELOPMENTS AND THE WAY FORWARD • After achieving success in Maldives and Bangladesh, Water business is trying to expand activities in overseas markets • Domestic market opportunities are increasing in Recycle & Reuse of wastewater and water business is equipped to target this ma
Slide 65: Shareholding Pattern
COMPANY OUR 5-YEAR FINANCIAL BUSINESS-WISE SHAREHOLDING OVERVIEW JOURNEY RESULTS UPDATE PATTERN Q4/FY 23
Slide 66: Shareholding Pattern
SHAREHOLDING PATTERN 4.67% 7.98% 18.79% 60.98% 4.25% 1.85% 1.47% Promoter Group Foreign Portfolio Investors Mutual Funds + AIF Resident Individuals Corporate Bodies NRI Others Note: For the quarter ending March 31, 2023. Others comprise of Clearing members, HUF, Trust, IEPF, etc. BUSINESS-WISE UPDAT
Slide 67: Investors Contact
INVESTORS CONTACT Surabhi Chandna Gavin Desa/ Rishab Brar Triveni Engineering & Industries Ltd. Citigate Dewe Rogerson Tel. +91 120 430 8000 Fax : +91 120 431 1010 Tel: +91 22 66451237/1235 ir@trivenigroup.com gavin@cdr-india.com / rishab@cdr-india.com www.trivenigroup.com 66
Slide 68: Safe Harbour/Legal Disclaimer
SAFE HARBOUR/LEGAL DISCLAIMER Some of the statements in this presentation that are not historical facts are forward looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concern
Slide 69: Commonly Used Terms
COMMONLY USED TERMS Term Definition AGMA American Gear Manufacturers Association (AGMA) Colourless liquid produced by natural fermentation of sugary feedstocks and used as an intoxicating constituent of Alcohol potable spirits, industrial solvent and as fuel API American Petroleum Institute ASP Acti
Slide 70: Commonly Used Terms
COMMONLY USED TERMS Term Definition Ethanol that has additives to make it poisonous, bad tasting, foul smelling or nauseating to discourage its Denatured spirit recreational consumption. Distillation Process of separating alcohol from water via evaporation and condensation Ethanol Blended Petrol. Th
Slide 71: Commonly Used Terms
COMMONLY USED TERMS Term Definition Distillery producing Ethanol / Alcohol using various feedstocks such as sugarcane juice/syrup, grains, B-Heavy Multi-feed distillery molasses, C-Heavy molasses NGT National Green Tribunal O&M Operations & Maintenance Potable alcohol Highly purified alcohol with ve
Slide 72: Thank You
Hd vem JENGINEERING & INDUSTRIES LTO.