Triveni Engineering And Industries Limited · NSE:TRIVENI
Triveni Engineering And Industries — Q4 FY26 Earnings Presentation
68 slides from Triveni Engineering And Industries's earnings presentation, May 29, 2026
Slide 1: Cover letter to stock exchanges
.,... . \. +91 1204308000 ~ +91 1204311010/11 IE"::N~':~~ INDUSTRIES LTD. ; www.trivenigroup.com REF TElL SE Date: 29th M ay, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-l, Block G Dalal Street, Fort, Bandra Kurla Complex, Bandra (E) Mumbai -
Slide 2: Investor Presentation Q4 FY26
INVESTOR PRESENTATION Q4 FY 26 29 May 2026 1
Slide 3: Contents
CONTENTS 03 COMPANY OVERVIEW RESTRUCTURING 08 OUR FINANCIAL 13 HIGHLIGHTS OUR BUSINESSES 20 56 SHAREHOLDING PATTERN 2
Slide 4: Triveni at a Glance
TRIVENI AT A GLANCE LOCATIONS 23 world-class facilities 70,500 >12,500+ including: Tonnes per day PTB installations across 8 Sugar plants Sugarcane crushing the world 5 Distillery facilities at capacity* four locations # 860 KLPD >12,200+ MLD Kilo Liter Per Day (KLPD) ~ ₹ 8,305 Crore Alcohol/Distill
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 • Continued push for varietal substitution of vulnerable Co238 – all units /areas which were subject to substantial red rot decease have fully controlled Co238 in planting in total area. • Intensive crop protection and integrated pest and disease control program acros
Slide 7: Our Business-wise Outlook
OUR BUSINESS-WISE OUTLOOK POWER TRANSMISSION • Outlook for the domestic product segment within high-speed gears is promising with robust industrial capex and economic growth. • Significant uptick in our enquiry levels. Product enquiries in FY26 have doubled and in Aftermarket segment, have grown by
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
a aoe FROM RESTRUCTURING =.=]
Slide 10: Corporate Structure Simplification – Scheme Approved
CORPORATE STRUCTURE SIMPLIFICATION – SCHEME APPROVED 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
Slide 11: Existing and Resultant Structure of Entities: TEIL & SSEL
EXISTING AND RESULTANT STRUCTURE OF ENTITIES: TEIL & 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 ~22.
Slide 12: Existing and Resultant Structure of Entities: TEIL & TPTL
EXISTING AND RESULTANT STRUCTURE OF ENTITIES: TEIL & TPTL After Amalgamation of SSEL with TEIL After PTB Demerger and 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) Prom
Slide 13: Rationale for Demerger of Power Transmission Business
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 01 • Improved leverage and cost of funds Revenues over the period • FY 21-26 Gross Revenue CAGR 10.1% • ICRA Long Term Credit Rating of AA+ • Rising revenue contribution# from non-sugar business from 20% to 46% du
Slide 16: Robust Financial Performance
ROBUST FINANCIAL PERFORMANCE ₹ Crore Revenue from Operations (Gross)* Profit Before Interest and Tax (PBIT) 7621 603 584 6808 6310 6151 510 576 480 4703 4694 408 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Robust revenue growth of 10.1% p.a. during FY 2021-2026 with incre
Slide 17: Strong Balance Sheet Position
STRONG BALANCE SHEET POSITION Total Consolidated Debt (₹ Crore) Total Consolidated Debt To Equity (x times) 1969 2147 0.82 0.49 1568 1411 0.64 0.63 0.65 994 914 0.35 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Average Cost of Debt (Standalone) Long-term credit rating ICRA
Slide 18: Creating Shareholder Value
CREATING SHAREHOLDER VALUE Funds Dividends & Retained for Cash Capital Buybacks (incl. Working Expenditure* Generation taxes) Capital ₹ 1,495 crore during FY 21-26 ₹ 1,501 crore ₹ 1,241 crore (36% of cash ₹ 4,237 crore (35% of cash (29% 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% 23% 15% 17% 65 78.6 71.1 54.7 60.4 42.3 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 21 FY 23 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Int
Slide 20: Consolidated Financial Highlights Q4 FY26
CONSOLIDATED FINANCIAL HIGHLIGHTS Q4 FY 26 ₹ Crore Q4 FY26 Q4 FY25 Change % FY 26 FY 25 Change % Revenue from Operations (Gross) 1,834 1,925 (4.8) 7,621 6,808 11.9 Revenue from Operations 1,508 1,629 (7.4) 6,291 5,689 10.6 (Net of excise duty) EBITDA 286 317 (10.0) 624 534 16.9 EBITDA Margin 18.9% 1
Slide 21: Our Businesses
OUR BUSINESSES
Slide 22: Sugar
SUGAR
Slide 23: 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 2 2 3. Chandanpur (Sulphitation)*# can be customised as per user
Slide 24: Sugar Business Performance Over the Years
2016-17 1.67 2016-17 71 2017-18 1.83 2017-18 95 2018-19 1.94 2018-19 94 2019-20 2019-20 1.92 101 2020-21 94 2020-21 1.96 2021-22 89 2021-22 1.98 2022-23 95 2022-23 2.04 2023-24 89 2023-24 2.06 Sugar Produced (Lakh Quintals) Area under Sugarcane (Lakh Hectares) 2024-25 92 2024-25 2.14 2025-26 91 2025
Slide 25: Sugar Realisations Set to Strengthen
SUGAR REALISATIONS SET TO STRENGTHEN Triveni Sugar Realisation (Domestic) (INR per Quintal) 4,200 4,118 4,120 4,137 4,140 4,100 4,089 4,102 4,099 4,109 4,058 4,008 4,014 4,062 4,098 3,986 4,088 4,000 3,956 3,931 3,934 3,932 3,989 3,917 3,912 3,879 3,872 3,855 3,855 3,840 3,851 3,816 3,800 3,737 3,76
Slide 26: Sugar Industry: Structural Shift Driving Margin Stability
Sugar Industry: Structural Shift Driving Margin Stability We believe Sugar Industry has undergone significant changes in last few years, which has in turn significantly reduced the cyclical nature of the industry Sugar Segment EBIT Margin Fair and Remunerative Price (FRP) of Max: 11.1% sugarcane 10.
Slide 27: Sugar: Volumes and Realisations Drive Topline Growth
SUGAR: VOLUMES AND REALISATIONS DRIVE TOPLINE GROWTH Domestic Sugar Dispatches (Tonnes) Average Realisation (₹/MT) +10.4% +1.1% +3.8% +4.5% 9,79,195 40,820 8,86,558 40,395 39,192 40,679 2,15,595 2,25,194 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 FY 25 FY 26 • FY26 witnessed a volume growth of 10.4
Slide 28: Sugar: Profitability Impacted by Higher Costs
SUGAR: PROFITABILITY IMPACTED BY HIGHER COSTS ₹ Crore REVENUE PBIT +2.1% +12.8% -15.3% 272 4,477 267 -2.5% 3,967 224 189 1,079 1,052 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q3 FY 26 FY 25 FY 26 • Despite increase in cane price by Rs 300/MT, the improvement in profitability is due to higher sales volume,
Slide 29: India Sugar Balance Sheet: Deficit in 2024-25, Surplus in 25-26
INDIA SUGAR BALANCE SHEET: IN DEFICIT IN 2024-25 BUT SURPLUS IN 25-26 in million tonnes +2.0* +3.5* +3.4* 31.9 29.0 26.127.8 27.6 27.5 7.9 7.9 5.1 5.0 5.6 4.6 0.1 0.8 0.7 Opening Stock as Production Internal Exports Closing Stock as on on 1st Oct Consumption 30th Sep 2023-24 2024-25 2025-26e • SS 20
Slide 30: 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 Comp
Slide 31: Alcohol
ALCOHOL
Slide 32: 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 33: Alcohol Business Performance Over the Years
ALCOHOL BUSINESS PERFORMANCE OVER THE YEARS Alcohol Production (in KL) Alcohol Sales (in KL) 236510 200083 213453 181194 201568 184351 180423 182707 107604 107027 117837 FY 21 103637 FY 26 FY 22 FY 23 FY 21 FY 24 FY 25 FY 22 FY 26 FY 23 FY 25 FY 24 Average Realisation (₹/ ltr) IMIL Sales (Lakh Cases
Slide 34: 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 35: Indian Made Foreign Liquor Wins Multiple Awards in 1st Year
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 34
Slide 36: Alcohol: Increased Volumes Driven by Capacity Addition
ALCOHOL: INCREASED VOLUMES DRIVEN BY CAPACITY ADDITION Alcohol Production (KL) Alcohol Sales (KL) Avg. Realisation (₹/litre) +18.2% -4.2% -2.6% +5.9% -28.9% -11.1% 2,36,510 2,13,453 2,01,568 2,00,083 62.9 62.6 60.2 61.0 56,645 44,284 62,256 63,732 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 FY 25 FY
Slide 37: Alcohol: Profitability Improved
ALCOHOL: PROFITABILITY IMPROVED ₹ Crore NET REVENUE* PBIT +5.4% +200.8% 1,474 1,552 -26.3% +60.6% 119 23 452 333 38 40 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 FY 25 FY 26 * Revenue net of excise duty • Improvement in the profitability is due to lower procurement cost of maize, higher sales volum
Slide 38: EBP Programme Driving Ethanol Demand
EBP PROGRAMME DRIVING ETHANOL DEMAND Ethanol Supplied (Cr. Litres) 20.0 19.2 1000 20.0 900 18.0 800 14.6 16.0 700 12.1 719 14.0 600 10.0 12.0 500 8.1 402 10.0 400 137 8.0 72 300 4.9 5.0 6.0 4.2 41 273 200 2.1 10 361 369 4.0 16 261 270 321 100 151 179 157 150 2.0 0 67 0.0 2016-17 2017-18 2018-19 2019
Slide 39: Power Transmission
POWER TRANSMISSION
Slide 40: 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 41: Power Transmission Business Highlights
POWER TRANSMISSION BUSINESS HIGHLIGHTS One of the Largest domestic market share One of the few Reliable aftermarket largest across OEMs & patronised by companies globally services throughout the engineered-to- global OEMs across application catering to AGMA & API product life cycle at the order turb
Slide 42: Serving a Multitude of Industries
SERVING A MULTITUDE OF INDUSTRIES Industries We Serve Power Refinery & Chemical & Generation Oil & Gas Sugar Petrochemicals Fertilisers (IPPs) Rubber & Cement Steel Marine Plastics Note: Sample list 41
Slide 43: 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 42
Slide 44: Our Power Transmission Business Clientele
OUR POWER TRANSMISSION BUSINESS CLIENTELE Steam Turbines Gas Turbines Compressors Pumps Fans and Blowers Defence 43
Slide 45: Our Power Transmission Business Clientele
OUR POWER TRANSMISSION BUSINESS CLIENTELE Other Key Clients 44
Slide 46: 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 47: 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 46
Slide 48: Power Transmission Business Performance Over the Years
POWER TRANSMISSION BUSINESS PERFORMANCE OVER THE YEARS ₹ crore 5Y Revenue CAGR of 21% between FY 21-26 5Y PBIT CAGR of 24% between FY 21-26 34.8% 36.7% 34.3% 35.4% 40.0% 140.0 33.9% 31.4% 35.0% 370 120.0 30.0% 340 127 292 100.0 120 25.0% 107 80.0 20.0% 225 15.0% 185 60.0 76 130 64 10.0% 40.0 5.0% 41
Slide 49: Power Transmission: Impacted by Global Uncertainties
POWER TRANSMISSION: IMPACTED BY GLOBAL UNCERTAINTIES ₹ Crore REVENUE PBIT -8.1% -5.0% -28.6% 370 340 -27.5% 127 120 140 47 100 34 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 FY 25 FY 26 • Decline in turnover is attributable to deferment in deliveries due to ongoing geopolitical tensions as well as s
Slide 50: Power Transmission: Record Closing Order Book
POWER TRANSMISSION: RECORD CLOSING ORDER BOOK ₹ Crore ORDER BOOKING CLOSING ORDER BOOK -1.7% +24.7% 29.6% 475 467 485 389 210 162 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 • Overall enquiries in FY26 doubled compared to FY25. Significant increase in enquiry flow of Products in Q4 FY26 (higher by 1
Slide 51: 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. GEARING Investments towards new bay (grinder/ hobber/ equipment) for both power FOR FUTURE transmission
Slide 52: Water Solutions
WATER SOLUTIONS
Slide 53: 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 54: 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 55: Promising Long-Term Growth Outlook for Water Treatment in India
PROMISING LONG-TERM GROWTH OUTLOOK FOR WATER TREATMENT IN INDIA Strong Increasing Increasing Demand for Resurgence of Regulatory Push Urbanization with Recycled Water Traditional Industrial Focus on Quality Segments Increased Sewage Industrial Wastewater Desalination Opportunity Treatment Capacities
Slide 56: Water: Healthy Closing Order Book
WATER: HEALTHY CLOSING ORDER BOOK ₹ Crore REVENUE PBIT CLOSING ORDER BOOK* -5.5% +14.6% 9.2% -6.1% +4.7% 269 32.8 31.0 234 94 98 13.1 14.3 1601 1503 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 FY 25 FY 26 Q4 FY25 Q4 FY26 • The outstanding order book as on 31 March 2026 stood at ₹ 1,503 crores, which
Slide 57: Shareholding Pattern
SHAREHOLDING PATTERN
Slide 58: Shareholding Pattern as on 31 March 2026
SHAREHOLDING PATTERN AS ON 31 MARCH 2026 Foreign Portfolio Investors, 7.44% Mutual Funds + AIF, 8.21% Promoter Group, 60.98% Resident Individuals, 18.77% Corporate Bodies, 1.97% NRI, 1.97% Others, 0.66% Total number of outstanding equity shares is 21,88,97,968 of Face Value of ₹ 1/- each 57
Slide 59: Annexures
ANNEXURES
Slide 60: Rationale for TEIL Amalgamation with SSEL & Swap Ratio
RATIONALE FOR TEIL AMALGAMATION WITH SSEL & SWAP RATIO Synergies The proposed amalgamation will create and provide Reducing compliance related costs operational synergies, economies of scale, optimum utilization It will result in reduction of multiplicity of entities, thereby of resources, simplific
Slide 61: Rationale for Demerger of Power Transmission Business
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 62: 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 63: Investor Contact
INVESTOR CONTACT Kumar Sunit Gavin Desa/ Rishab Brar Head – Investor Relations & Value Creation 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 62
Slide 64: 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 65: 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 Alcohol constituent of potable spirits, industrial solvent and as fuel API American Petroleum Institute ASP Acti
Slide 66: 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 67: Commonly Used Terms
COMMONLY USED TERMS Term Definition Distillery producing Ethanol / Alcohol using various feedstocks such as sugarcane juice/syrup, B-Heavy Multi-feed distillery molasses, C-Heavy molasses, grains such as maize, surplus rice, broken rice and other damaged food grains NGT National Green Tribunal O&M O
Slide 68: Thank You
YOU
Triveni Engineering & Industries — Q4 FY26 Earnings Presentation on 6ix