Triveni Engineering And Industries Limited · NSE:TRIVENI
Triveni Engineering And Industries — Q4 FY2025 Earnings Presentation
71 slides from Triveni Engineering And Industries's earnings presentation, May 28, 2025
Slide 1: Exchange intimation letter: presentation for Q4 & FY25
.z. ..· · Plvenl ENGINEERING & INDUSTRIES L TO. '- +91 1204308100 ~ +911204311010/11 ~ www.trivenigroup.com REF TElL SE D ate: 28th M ay, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-l, Block G Dalal Street, Fort, Bandra Kurla Complex, Bandra
Slide 2: Investor Presentation Q4 / FY 25
INVESTOR PRESENTATION Q4 / FY 25 MAY 2025 1
Slide 3: Contents
CONTENTS 03 COMPANY OVERVIEW RESTRUCTURING 08 OUR FINANCIAL 13 HIGHLIGHTS OUR BUSINESSES 22 59 SHAREHOLDING PATTERN 2
Slide 4: Triveni at a Glance
TRIVENI AT A GLANCE LOCATIONS* 23 world-class facilities 70,500 >12,000 including: Tonnes per day PTB installations across 8 Sugar plants Sugarcane crushing the world 5 Distillery facilities at capacity* four locations # 860 KLPD >12,000 MLD Kilo Liter Per Day (KLPD) ~ ₹ 8,416 Crore Alcohol/Distille
Slide 5: Our Strengths
OUR STRENGTHS Strong Leadership Financial Strength Stakeholder Trust Strategic Tailwinds Market Leadership & Governance & Resilience & Ecosystem & Growth Drivers Integration • Experienced • Among the leading • Significantly • Deep-rooted • Well-positioned to management players in the India’s strengt
Slide 6: Our Business-wise Outlook
OUR BUSINESS-WISE OUTLOOK SUGAR • SS 2025-26 expected to commence earlier with favourable monsoon forecasts • Improvement in area under sugarcane expected in SS 2025-26 driven by higher spring planting • Focus on yield enhancement and crop management through a structured sugarcane development and ex
Slide 7: Our Business-wise Outlook
OUR BUSINESS-WISE OUTLOOK POWER TRANSMISSION • Outlook for the domestic product segment within high speed gears is extremely promising with robust industrial capex and economic growth • Several breakthrough qualification orders in the last 1-2 years establish acceptance by global OEMs • Overall, the
Slide 8: ESG Guiding Principles
ENVIRONTMENT, SOCIAL, GOVERNANCE (ESG) GUIDING PRINCIPLES Highest level of ethical and corporate governance standards, with stringent compliances Best-in-class sustainable processes and solutions across our operations and units Allocation of capital with focus on reducing carbon footprint and promot
Slide 9: Restructuring
3 rey aa RESTRUCTURING
Slide 10: Corporate Structure Simplification Underway
CORPORATE STRUCTURE SIMPLIFICATION UNDERWAY On 10 December 2024, the Board of Directors of Triveni Engineering & Industries Limited (TEIL/Amalgamated Company/Demerged Company), Sir Shadi Lal Enterprises Limited (SSEL/Amalgamating Company) and Triveni Power Transmission Ltd. (TPTL/ Resulting Company)
Slide 11: Existing and Resultant Structure of Entities: TEIL and SSEL
EXISTING AND RESULTANT STRUCTURE OF ENTITIES: TEIL and SSEL After Amalgamation of Before Amalgamation of SSEL with TEIL SSEL with TEIL 39.02% 38.23% 39.42% 60.98% 61.77% 60.58% Promoters Public TEIL (Promoter) Public Promoters Public ~21.89 cr shares of INR 1 each ~52.5 lakh shares of INR 10 each ~2
Slide 12: Existing and Resultant Structure of Entities: TEIL and TPTL
EXISTING AND RESULTANT STRUCTURE OF ENTITIES: TEIL and TPTL After Amalgamation of SSEL with TEIL and After PTB Demerger before PTB Demerger 27.64% 39.42% 39.42% 42.48% 72.36% Total 60.58% Promoter 60.58% Holding 100.00% 29.88% Promoters Public TEIL (Promoter) Existing Promoters of TEIL (Promoter) Pr
Slide 13: Rationale for Demerger of Power Transmission Business & Ratio of Issue
RATIONALE FOR DEMERGER OF POWER TRANSMISSION BUSINESS & RATIO OF ISSUE OF EQUITY SHARES BY TPTL Sharpened focus The transfer of the PTB Undertaking (as defined in the Scheme) into TPTL will enable each business to sharpen its focus and organize its activities and resources to improve its offerings t
Slide 14: Our Financial Highlights
OUR FINANCIAL HIGHLIGHTS
Slide 15: Our Long-Term Highlights
OUR LONG-TERM HIGHLIGHTS 03 Strong balance sheet position Well Diversified and Growing Revenues 01 • Improved leverage and cost of funds over the period • FY 20-25 Gross Revenue CAGR 8.9% • ICRA Long Term Credit Rating of AA+ $ • Rising revenue contribution from non- sugar business from 21% to 38% d
Slide 16: Robust Financial Performance
ROBUST FINANCIAL PERFORMANCE ₹ Crore Revenue from Operations (Gross)* Profit Before Interest and Tax (PBIT) 6808 603 6310 6151 576 584 505 4703 4694 510 4437 408 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Robust revenue growth of 8.9% p.a. during FY 2020-2025 with increa
Slide 17: Strong Balance Sheet Position
STRONG BALANCE SHEET POSITION Total Consolidated Debt (₹ Crore) Total Consolidated Debt To Equity (x times) 1969 1.16 1558 1568 1411 0.82 994 914 0.64 0.49 0.63 0.35 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Average Cost of Debt (Standalone) Long-term credit rating ICRA
Slide 18: Creating Shareholder Value
CREATING SHAREHOLDER VALUE Funds Dividends & Retained for Capital Cash Generation Buybacks (incl. Working Expenditure* during FY 20-25 taxes) Capital ₹ 1,176 crore ₹ 4,202 crore ₹ 1,574 crore ₹ 1,452 crore (28% of cash (37% of cash (35% of cash generation) generation) generation) Healthy mix of inve
Slide 19: Enhancing Shareholder Returns Through Buybacks & Dividends
ENHANCING SHAREHOLDER RETURNS THROUGH COMBINATION OF BUYBACKS & DIVIDENDS Buyback of Shares (₹ Crore) Dividend (₹ Crore) Dividend Payout Ratio (%) 800 12% 125.9 21% 20% 22% 15% 17% 100 78.6 10% 65 71.1 42.3 54.7 27.3 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 20 FY 21 FY 23 FY 20 FY 21 FY 22 FY 23 FY 24
Slide 20: FY 25: Overall Lower Profitability; Power Transmission Stellar
FY 25: OVERALL LOWER PROFITABILITY; POWER TRANSMISSION BUSINESS CONTINUED ITS STELLAR PERFORMANCE 03 Power Transmission Business Updates • Power Transmission business reported record turnover and profitability – turnover increased Revenues & Profitability 01 by 26.8% and segment profits by 18.4%. •
Slide 21: FY 25: Segment-wise Contribution to Revenues and Profits
FY 25: SEGMENT-WISE CONTRIBUTION TO REVENUES AND PROFITS (PBIT) FY 25: Segment-wise Revenues and Contribution* FY 25: Segment-wise PBIT and Contribution 27% 9% 57% 7% 62% 4% 27% 3% 7% Sugar Distillery (net of Excise) Sugar Distillery Power transmission Water Power transmission Water Others Rising re
Slide 22: Consolidated Financial Highlights Q4 / FY 25
CONSOLIDATED FINANCIAL HIGHLIGHTS Q4 / FY 25 ₹ Crore Q4 FY 25 Q4 FY 24 Change % FY 25 FY 24 Change % Revenue from Operations (Gross) 1,925.3 1,548.1 24.4 6,807.9 6,151.4 10.7 Revenue from Operations 1,629.3 1,302.1 25.1 5,689.2 5,220.1 9.0 (Net of excise duty) EBITDA 317.4 261.2 21.5 533.8 688.4 -22
Slide 23: Our Businesses
OUR BUSINESSES
Slide 24: Sugar
SUGAR
Slide 25: Our Sugar Business Profile
OUR SUGAR BUSINESS PROFILE Strategic Manufacturing Presence WE MANUFACTURE CENTRAL UP 1. Rani Nangal (Sulphitation)# Refined sugar for high-grade end users 1 1 2. Milak Narayanpur (Refined) Various grades of pharmaceutical sugar, which can 2 2 3. Chandanpur (Sulphitation)*# be customised as per user
Slide 26: Sugar Business Performance Over the Years
2015-16 1.57 2015-16 49 2016-17 1.67 2016-17 71 2017-18 1.83 2017-18 95 2018-19 2018-19 1.94 94 2019-20 101 2019-20 1.92 2020-21 94 2020-21 1.96 2021-22 89 2021-22 1.98 2022-23 95 2022-23 2.04 Sugar Produced (Lakh Quintals) Area under Sugarcane (Lakh Hectares) 2023-24 89 2023-24 2.06 2024-25 92 2024
Slide 27: Sugar Realisations Set to Strengthen
SUGAR REALISATIONS SET TO STRENGTHEN Triveni Sugar Realisation (Domestic) (₹/Quintal) 4,200 4,100 4,099 4,088 4,098 4,062 3,986 3,934 3,989 4,000 3,956 3,931 3,932 3,917 3,912 3,879 3,851 3,872 3,855 3,855 3,840 3,816 3,800 3,717 3,713 3,737 3,761 3,685 3,696 3,732 3,653 3,593 3,620 3,615 3,570 3,56
Slide 28: SS 2024-25: Trend of Lower Recoveries
SS 2024-25: TREND OF LOWER RECOVERIES Sugarcane Crushed (Million Tonnes) Gross Recovery (%) Sugar Production (Tonnes) -69 bps +9.6% +2.9% 11.49 10.80 916060 890126 8.26 9.05 SS 2023-24 SS 2024-25 SS 2023-24 SS 2024-25 SS 2023-24 SS 2024-25 • Trend of lower yield and recoveries observed in UP in SS 2
Slide 29: Sugar: Improved Blended Realisations in FY 25
SUGAR: IMPROVED BLENDED REALISATIONS IN FY 25 Sugar Dispatches (Tonnes) Average Blended Realisation (₹/MT)* +3.6% (Total) +2.7% +5.1% +8.8% (Total) 886558 855615 14531 40395 841084 886558 39192 198204 215595 38429 38175 198204 215595 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Domest
Slide 30: Sugar: Lower Profitability Due to Higher Cost of Production
SUGAR: LOWER PROFITABILITY DUE TO HIGHER COST OF PRODUCTION ₹ Crore REVENUE PBIT +2.8% +41.3% -12.8% 266.5 +16.3% 3857.9 3967.0 305.6 223.6 158.3 927.5 1078.7 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 FY 24 Q4 FY 25 FY 24 FY 25 • Consolidated segment PBIT declined 12.8% y-o-y at ₹ 266.5 crore due to higher c
Slide 31: Sugarcane Development Programme – Key Highlights
SUGARCANE DEVELOPMENT PROGRAMME – KEY HIGHLIGHTS A Structured Varietal Active engagement Crop Protection from Various digital Substitution Programme for with farmers through different Pests & Diseases initiatives towards the mutual benefit of the model demonstration using a structured sugarcane deve
Slide 32: India Sugar Balance Sheet: Closing Stocks of 5.8 Million Tonnes
INDIA SUGAR BALANCE SHEET: COMFORTABLE CLOSING STOCKS OF 5.8 MILLION TONNES FOR SS 2024-25 in million tonnes +3.8* +2.0* +3.5* 32.8 31.9 27.9 29.0 28.0 26.4 7.0 5.6 8.4 6.4 5.6 8.4 5.8 0.1 1.0 Opening Stock as on Production Internal Exports Closing Stock as on 1st Oct Consumption 30th Sep 2022-23 20
Slide 33: Alcohol
ALCOHOL
Slide 34: Our Alcohol Business Profile
OUR ALCOHOL BUSINESS PROFILE Strategic Manufacturing Presence WE PRODUCE CENTRAL UP 1. Rani Nangal Facility: Multi-feed 200 Bio-ethanol KLPD 1 Extra Neutral Alcohol (ENA), Rectified Spirit (RS) 2. Milak Narayanpur Facility: Multi- 1 2 feed 200 KLPD and Denatured Spirit (SDS) Co-products such as DDGS
Slide 35: Alcohol Business Performance Over the Years
ALCOHOL BUSINESS PERFORMANCE OVER THE YEARS Alcohol Production (in KL) Alcohol Sales (in KL) 200083 201568 184351 181194 182707 180423 107604 107027 117837 103637 93826 FY 20 84566 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 Average Realisation (₹/ ltr) IMIL Sales (Lakh Cases)
Slide 36: Among Top 5 Players in UP in IMIL Business
AMONG TOP 5 PLAYERS IN UP IN INDIAN MADE INDIAN LIQUOR BUSINESS • We produce premium-quality molasses-based IMIL (Indian Made Indian Liquor) and grain-based UPML (UP Made Liquor), catering to the Uttar Pradesh market through an extensive distributor and retail network. • Following capex announcement
Slide 37: Indian Made Foreign Liquor Wins Multiple Awards
INDIAN MADE FOREIGN LIQUOR WINS MULTIPLE AWARDS IN 1st YEAR OF LAUNCH MATSYA AWARDS Spiritz Achievers Awards 2024 INDSPIRIT 2025 World Whiskies Award Design THE CRAFTER STAMP Spiritz Achievers Awards 2024 World Whiskies Award Design 36
Slide 38: Alcohol: Increased Volumes Driven by Capacity Addition
ALCOHOL: INCREASED VOLUMES DRIVEN BY CAPACITY ADDITION Alcohol Production (KL) Alcohol Sales (KL) Avg. Realisation (₹/litre) +8.5% +10.3% +6.1% +2.9% +29.9% +38.7% 200083 201568 184351 182707 62.9 62.6 61.1 59.0 62256 63732 44878 49069 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 F
Slide 39: Alcohol: Profitability Impacted
ALCOHOL: PROFITABILITY IMPACTED ₹ Crore NET REVENUE* PBIT +15.7% -78.1% 1473.5 +38.2% 1273.6 -44.4% 180.9 39.7 326.8 451.6 23.3 42.0 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 FY 24 Q4 FY 25 FY 24 FY 25 * Revenue net of excise duty • The profitability of the Alcohol business was adversely affected in FY due t
Slide 40: EBP Programme Driving Ethanol Demand
EBP PROGRAMME DRIVING ETHANOL DEMAND Ethanol Supplied (Cr. Litres) Contracted Quantity for ESY 2024-25 ➔ 996.7 1000 18.4 20.0 900 18.0 800 14.6 16.0 700 12.1 14.0 600 10.0 12.0 500 8.1 402 10.0 137 400 72 8.0 300 4.9 5.0 6.0 4.2 41 188.5 200 2.1 10 361 369 4.0 16 261 270 100 151 179 157 181 2.0 0 67
Slide 41: Continued Ethanol Pricing Improvements
CONTINUED ETHANOL PRICING IMPROVEMENTS • Government has been incentivizing the industry through supportive ethanol prices under the EBP Programme • In ESY 2024-25, prices have been revised for ethanol produced from C-heavy molasses • In ESY 2023-24, prices were revised for ethanol produced from Maiz
Slide 42: Power Transmission
POWER TRANSMISSION
Slide 43: Diverse Product & Solutions Portfolio
DIVERSE PRODUCT & SOLUTIONS PORTFOLIO OUR GEARS PORTFOLIO • 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 mixe
Slide 44: Power Transmission Business Highlights
POWER TRANSMISSION BUSINESS HIGHLIGHTS One of the largest Largest domestic market share One of the few companies Reliable aftermarket engineered-to- across OEMs & patronised by globally catering to AGMA services throughout the order turbo gear global OEMs across application & API standards and produ
Slide 45: Serving a Multitude of Industries
SERVING A MULTITUDE OF INDUSTRIES Industries We Serve Power Refinery & Chemical & Oil & Gas Sugar Generation (IPPs) Petrochemicals Fertilisers Cement Rubber & Plastics Steel Marine Note: Sample list 44
Slide 46: Enabling OEMs Consistently
ENABLING OEMS CONSISTENTLY >50,000 MW globally installed gears capacity Steam Turbines Gas Turbines Centrifugal Compressors Reciprocating Compressors Centrifugal Pumps Fans and Blowers Hydel Turbines 45
Slide 47: Our Power Transmission Business Clientele
OUR POWER TRANSMISSION BUSINESS CLIENTELE Steam Turbines Gas Turbines Compressors Pumps Fans and Blowers Defence 46
Slide 48: Our Power Transmission Business Clientele
OUR POWER TRANSMISSION BUSINESS CLIENTELE Other Key Clients 47
Slide 49: Foray into Defence
FORAY INTO DEFENCE OUR DEFENCE PORTFOLIO OUR DEFENCE ADVANTAGE • Marine Propulsion Gearboxes and other R&D expertise on critical turbo products critical gearboxes • Special Application Pumps Stringent adherence to quality standards • Special Application Motor-driven Pumps • Gas Turbine Generators fo
Slide 50: Our Marine Product Profile
OUR MARINE PRODUCT PROFILE Propulsion Engine Winches and Deck Machinery Shafting System Propeller Gearbox Gas Turbine Fin Stabiliser Generator Steering Gear Rudder 49
Slide 51: Power Transmission Business Performance Over the Years
POWER TRANSMISSION BUSINESS PERFORMANCE OVER THE YEARS ₹ crore Revenue CAGR of 19% p.a. between FY 20-25 PBIT CAGR of 21% p.a. between FY 20-25 34.8% 36.7% 34.3% 40.0% 140.0 33.9% 31.5% 31.4% 35.0% 370 120.0 30.0% 127 25.0% 292 100.0 107 80.0 20.0% 225 76 15.0% 185 60.0 154 64 10.0% 130 40.0 49 41 5
Slide 52: Power Transmission: Stellar Performance in FY 25
POWER TRANSMISSION: STELLAR PERFORMANCE IN FY 25 ₹ Crore REVENUE PBIT +26.8% +18.4% +58.3% +39.2% 369.9 291.8 126.8 107.1 139.6 88.2 33.4 46.5 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 FY 24 Q4 FY 25 FY 24 FY 25 • Increase in FY 25 turnover by 26.8% on y-o-y basis driven by growth in both product and afterma
Slide 53: Power Transmission: Record Closing Order Book
POWER TRANSMISSION: RECORD CLOSING ORDER BOOK ₹ Crore ORDER BOOKING CLOSING ORDER BOOK +26.6% +35.5% +15.3% 389.4 475.4 375.4 287.4 155.7 135.0 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 / FY 24 Q4 / FY 25 • FY 25 order booking grew 26.6% to ₹ 475.4 crore while closing order book increased 35.5% over the last
Slide 54: Power Transmission Business Initiatives Gearing for Future Growth
POWER TRANSMISSION BUSINESS INITIATIVES The Power Transmission business is executing capacity additions that would take the Gears capacity (not including Defence) to ₹700 crore by September 2026. The existing capacity is ₹400 crore. GEARING FOR Investments towards new bay (grinder/ hobber/ equipment
Slide 55: Water Solutions
WATER SOLUTIONS
Slide 56: Our Water Business Profile
OUR WATER BUSINESS PROFILE • A water solutions platform, with capabilities across the water and wastewater treatment value chain – EPC projects, products, solutions, concessions and O&M • The division has been operating for 40+ years, with a history of inhouse product development, relationships with
Slide 57: Our Water Business Highlights
OUR WATER BUSINESS HIGHLIGHTS • Offers a complete range of water & wastewater treatment solutions to both industrial & municipal segments in EPC and PPP models • Undertakes specialized projects across desalination, recycling, ZLD and utility management for water & sewerage networks • Recurring reven
Slide 58: Promising Long-Term Growth Outlook for Water Treatment in India
PROMISING LONG-TERM GROWTH OUTLOOK FOR WATER TREATMENT IN INDIA Strong Regulatory Increasing Urbanization Increasing Demand for Resurgence of Push with Focus on Quality Recycled Water Traditional Industrial Segments Increased Sewage Treatment Industrial Wastewater Desalination Opportunity Capacities
Slide 59: Water: Healthy Closing Order Book
WATER: HEALTHY CLOSING ORDER BOOK ₹ Crore REVENUE PBIT CLOSING ORDER BOOK* +4.4% +30.8% -4.9% +41.8% -16.1% 31.4 32.8 1600.8 246.3 234.2 1223.4 94.0 15.6 13.1 66.3 Q4 FY 24 Q4 FY 25 FY 24 FY 25 Q4 / FY 24 Q4 / FY 25 Q4 FY 24 Q4 FY 25 FY 24 FY 25 • Revenues declined due to delay in slow execution in
Slide 60: Shareholding Pattern
SHAREHOLDING PATTERN
Slide 61: Shareholding Pattern
SHAREHOLDING PATTERN Foreign Portfolio Promoter Group, 60.98% Investors, 5.58% Mutual Funds + AIF, 9.47% Resident Individuals, 19.36% Corporate Bodies, 1.96% NRI, 1.95% Others, 0.70% Note: As at end of the quarter ending March 31, 2025. Others comprise of Clearing members, HUF, Trust, IEPF, Key Mana
Slide 62: Annexures
ANNEXURES
Slide 63: Rationale for TEIL Amalgamation with SSEL & Swap Ratio
RATIONALE FOR TEIL AMALGAMATION WITH SSEL & SWAP RATIO Synergies The proposed amalgamation will create and provide operational Reducing compliance related costs synergies, economies of scale, optimum utilization of resources, It will result in reduction of multiplicity of entities, thereby simplific
Slide 64: Rationale for Demerger of Power Transmission Business & Ratio of Issue
RATIONALE FOR DEMERGER OF POWER TRANSMISSION BUSINESS & RATIO OF ISSUE OF EQUITY SHARES BY TPTL Competitive Position and Market Penetration Sharpened Focus PTB has attained a significant size, scale and has a large The PTB and the Residual Business (defined in the headroom for growth in its market.
Slide 65: Chronological Transaction Milestones
CHRONOLOGICAL TRANSACTION MILESTONES • Approval of the Board of Directors on recommendation of Audit Committee & Independent Directors to the Scheme • Filing of Application with Stock Exchanges for No Objection • Filing the Scheme along with Application with NCLT for issuance of summons for directio
Slide 66: Investor Contact
INVESTOR CONTACT Surabhi Chandna/Himanshu Sharma 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 65
Slide 67: 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 68: 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 69: 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 70: Commonly Used Terms
COMMONLY USED TERMS Term Definition Distillery producing Ethanol / Alcohol using various feedstocks such as sugarcane juice/syrup, B-Heavy molasses, Multi-feed distillery C-Heavy molasses, grains such as maize, surplus rice, broken rice and other damaged food grains NGT National Green Tribunal O&M O
Slide 71: Thank You
YOU
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