Triveni Engineering Q4 Review - Well Placed To Benefit From Distillery Volumes: ICICI Direct
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ICICI Direct Report
Triveni Engineering and Industries Ltd. reported Q4 FY21 results with 20.5% revenue decline.
The drop was mainly due to a dip in sugar volumes impacted by lower domestic quota and delay in exports.
Sugar segment revenue declined 27.6% with similar decline in sugar sales volumes.
The company sold 2.74 lakh tonnes of sugar at realisation of Rs 32.3/kilogram and is holding 4.7 lakh tonnes of sugar at an average price of Rs 30/kg.
However, distillery revenue increased 57.9% led by 16.5% higher distillery volumes and 7.9% increase in realisation (due to higher proportion of B-heavy ethanol).
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