CORPORA RPORATE TE PRESE RESENT NTATION TION FEBRUARY 2020
Triveni Group Organisation Structure Triveni Group Triveni Triveni Turbine Engineering & Ltd. (TTL) Industries Ltd. TEIL holds 21.8% of the equity in TTL (TEIL) 50% plus one share Sugar GE Triveni Ltd. Sugar Co-generation Distillery Businesses (GETL) Business Business Business Triveni Triveni Turbines Triveni Triveni Turbines Europe Pvt. Engineering Gears Water Turbines Turbines DMCC Ltd. Businesses Business Business Africa Pty Ltd DMCC (TTEPL) (TTD) (TTD) 2
Triveni Group Fact Sheet Two Independent Listed Companies Triveni Engineering is one of the with total FY 19 gross revenue of INR largest integrated sugar 39.92 billion (USD 570 million) manufacturers in India and market – Triveni Engineering & Industries Ltd. leader in its engineering and Triveni Turbine Ltd. businesses comprising high speed gears, gearboxes, and water & waste water treatment solutions Listed in both National Stock Exchange & Bombay Stock Triveni Turbine Ltd. is one of the Exchange world’s largest manufacturers of steam turbines up to 30 MW Promoter driven, professionally range for providing industrial & managed companies with eminent renewable power solutions and independent Board of Directors 3
Financial Performance – TEIL (Consolidated) In ` million Change Change Q3 FY 20 Q3 FY 19 9M FY 20 9M FY 19 (%) (%) Gross Revenue 10693 9031 18% 29426 22975 28% EBITDA (before exceptional items) 946 1053 (10%) 3855 2511 54% EBIDTA Margin 9% 12% 13% 11% Share of income from Associates 53 40 31% 164 126 31% Profit Before Tax (PBT) 666 887 (25%) 2814 1786 58% Profit After Tax (PAT) Consolidated 452 671 (33%) 1975 1366 45% Other Comprehensive Income (Net of Tax) (2) 16 (10) 6 Total Comprehensive Income 450 687 (34%) 1965 1372 43% EPS (not annualized) ( ` /share) 1.82 2.60 7.81 5.29 4
Engineering Businesses Triveni Gears Market leader in High speed gears & gear boxes upto 70 MW capacity and speed of 70,000 rpm Triveni Water A leading player in the high technology water & wastewater management business 5
Engineering Businesses – Revenue Growth 4000 3824 3500 3009 2874 3000 2734 2524 2500 ` in millions 2000 1500 1000 453 500 255 153 175 70 0 FY 15 FY 16 FY 17 FY 18 FY 19 Revenue PBIT Note: For FY 16, FY 17, & FY 18 revenue figures are including excise duty 6
Triveni eni Ge Gears s 7
Gears Business - Overview Design, manufacture and marketing of customised gears and gearboxes (both high speed and niche low speed gears) State-of-the-art design and manufacturing facility at Mysore conforming to international standards 8
Gears Business - Overview Strong presence Benchmarked to More than 31,500 MW global quality in Replacement and 7800 gearboxes in practices and 5S market operation A D E B C F Leading Turbo Gears Preferred partner Fully integrated company in India and to Domestic and plant with all SE Asia, market share Multinational OEMs critical operations of >80% in High in-house with Speed Segment state-of-the-art infrastructure 9
Gears Business – Financial Performance 1,331 1400 1199 1118 1200 1033 1000 922 800 ` in millions 600 381 314 292 400 292 180 200 0 FY 15 FY 16# FY 17# FY 18# FY 19 Net Sales PBIT #revenue figures are including excise duty The quarter and nine months under review Overall the market looks stable with positive signs registered a growth of 32% and 31% respectively in from the OEM segment. turnover while the profitability has been higher by The business has strong enquiries from Defence 52% and 53% respectively. and is hopeful of concluding some more of them in While the business saw good growth in OEM sales, the coming quarters. the overall increase in turnover was driven by and Spares & Services including retro and loose gearings during the period under review. Outstanding Order Book as on 31 st Dec 2019 – ` 1.57 billion (including ` 760 million long term orders) 10
Triven eni i Wate ter r 11
Water Business - Overview Technology association with world’s leading technology providers for various products, process & solutions such as Ultra filtration (UF), Reverse Osmosis (RO), Moving Bed Bio Reactor (MBBR) etc. Over 2000 numbers of process equipment for water & waste water treatment applications, supplied and commissioned till date During FY 12, the Company has made a long term strategic investment by acquiring 25.04% equity stake in an International Water Technology Company, engaged in providing water treatment solutions using proprietary technology 12
Water Business - Overview Over 100 successfully operating Technology associations with the installations across various world’s leading technology segments – infrastructure, providers for various products, industrial and municipal processes and solutions A D B C Won many Water Approx. 8000 MLD of water Awards for Innovative is treated through our project designs projects & equipment 13
Water Business – Financial Performance 3000 2493 2500 1976 1812 2000 1757 ` in millions 1326 1500 1000 500 -28 -37 72 -139 -221 0 FY 15 FY 16# FY 17# FY 18# FY 19 -500 Net Sales PBIT #revenue figures are including excise duty Gross revenue of ` 2097 million in 9M FY 20 & PBIT of The improved performance is attributed to substantial ` 155 million. These numbers are based on intake of orders during the last year, which resulted in consolidated results including wholly owned SPV increased activities and turnover. executing Mathura Project awarded by NMCG under Namami Gange Programme. Outstanding Order Book as on 31 st Dec 2019 – ` 11.37 billion (including ` 4.91 billion towards O&M) 14
Triven eni i Sugar ar 15
Sugar Business Sugar One of the largest sugar producers in India with seven sugar manufacturing facilities Co-generation Three grid connected co-generation plants and three incidental co-generation plants located across five sugar units. Distillery Two molasses based distillery in the country located in UP 16
Sugar Business – Industry Overview The country achieved a record sugar production at 33.16 While the crushing season has started in UP, the cane price million tonnes for SS 2018- 19. This will be country’s highest is yet to be announced by the State Government sugar production so far, out-performing the previous high The Government has given its approval for providing a lump sum export subsidy @ ` 10,448 per Metric Tonne (MT) to during SS 2017-18. Uttar Pradesh produced 12.1 million tonnes of sugar, followed by Maharashtra at over 10.7 million sugar mills for the sugar season 2019-20 which will be an estimated expenditure of about ` 6,268 crore. The lump sum tonnes, while Karnataka produced around 4.5 million tonnes of sugar. export subsidy will be provided for expenses on marketing As per the industry estimates, closing sugar balance on 30th costs including handling, upgrading and other processing Sept 2019 is estimated at ~ 14.6 million tonnes (opening costs, costs of international and internal transport and freight balance of 10.7 million tonnes on Oct 1, 2018, after charges on export of up to 6 million tonnes of sugar limited to considering consumption of 25.5 million tonnes and exports Maximum Admissible Export Quantity (MAEQ) allocated to of 3.8 million tonnes.) sugar mills for the sugar season 2019-20. The subsidy would be directly credited into farmers’ account on behalf of mills Recently, the Central Government announced creation of buffer stock of 4 million tonnes for one year, under which through no-lien account against cane price dues and subsequent balance, if any, would be credited to mill’s share of our Company is 0.13 million tonnes. Under the scheme, the reimbursement would be made on a quarterly account. Further to this, the Government has recently basis to sugar mills against inventory carrying costs and announced reallocation procedure for MAEQ in the event of which will be used for payment of cane dues. voluntary relinquishment of MAEQ or where sugar mills have The Central Government has kept FRP for the season 2019- not contracted 25% of MAEQ by 31.01.2020. The quota to 20 unchanged at same level of ` 275 per quintal as last year. be reallocated will be passed on to sugar mills which have It provides for a premium of ` 2.75 per quintal for every 0.1% already contracted at least 75% quantity of their initial MAEQ, increase in case the recovery is higher than 10%. have lifted 25% of their MAEQ for export and have requested for more quantity. 17
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