Triveni Engineering & Industries (TRIVENI) Q2 26/27 earnings summary

Executive summary

• H1 FY27 continuing-operations net revenue rose 5.3% YoY to ₹3,311 crore; EBITDA was ₹229 crore versus ₹97 crore and PAT was ₹97.30 crore versus a loss of ₹18.11 crore.

• Stronger sugar realisations, improved ethanol economics and lower finance costs supported the turnaround; water results were affected by slower EPC execution.

Financial highlights

• Q2 consolidated revenue was ₹2,049.06 crore; continuing-operations PAT was ₹93.65 crore versus a loss of ₹11.49 crore. H1 consolidated revenue was ₹3,999.20 crore.

• H1 continuing-operations PBT was ₹130.82 crore versus a loss of ₹24.85 crore; EPS was ₹4.42 versus a loss of ₹0.82.

• Q2 net revenue was ₹1,731 crore, up 8.4%; EBITDA was ₹165 crore versus ₹37 crore, with EBITDA margin of 9.5% versus 2.3%.

Segment performance

• H1 Sugar revenue rose 4.7% to ₹2,496.66 crore and segment results were ₹112.53 crore versus a loss of ₹4.80 crore; realisations rose 9.3% while dispatches were nearly flat.

• Q2 Sugar revenue was ₹1,261.98 crore and segment results were ₹98.75 crore; realisations rose 16.5% as dispatches fell 7.6%.

• H1 Distillery results rose to ₹73.11 crore from ₹50.82 crore; production declined 12.8% to 108,540 KL while sales fell 3.0%.

• Q2 Distillery revenue was ₹791.20 crore and segment results were ₹42.56 crore; sales rose 15.8% despite a 14.3% production decline.

• Water revenue declined 17.1% in H1 to ₹90 crore and segment results were ₹3 crore amid slower EPC execution; order book stood at ₹1,452 crore, including ₹1,048 crore of long-duration O&M contracts.