If you thought the sugar sector’s only headache was calories, think again. Triveni’s management just delivered a 60-minute masterclass on how to juggle ethanol politics, sugar prices, and global gearbox demand—all while keeping a straight face. The quarter had everything: record SAP hikes, ethanol oversupply, and a “world tour” of Power Transmission optimism. Yet, despite these sugar rushes and engineering headwinds, Tarun Sawhney’s optimism could rival a Diwali ad campaign. Keep reading—because the ethanol math later on gets wild. 🍹
2. At a Glance
Revenue up 18.4%: Management swears it’s not Excel sorcery—just 21% sugar and 8% engineering sweetness.
PBT ₹32 crore vs ₹11.5 crore: The comeback kid moment—small base, big jump.
PAT ₹23.5 crore vs ₹8.6 crore: Profit did a “triple shot” like a strong espresso.
Gross Debt ₹753 crore: Company flexing at 6.4% interest cost—because cheap loans are the new diet.
Sugar Revenue +22%: Sweet sales, but profit melted faster than ice in Noida heat.
Stock Flat: Traders probably got distracted by ethanol memes.
3. Management’s Key Commentary
Tarun Sawhney: “Revenues rose 18% to ₹3,300 crore, driven by strong sugar and distillery performance.” (Translation: We finally got the sugar mix right without giving analysts a glucose spike.)
*“Gross debt rose to ₹753 crore, but cost of funds dropped to 6.4%.” (Translation: We owe more, but it hurts less—like EMI therapy.)
*“UP government raised SAP by ₹30; we urge a review of MSP.” (Translation: Sugarcane farmers got a raise; millers got hypertension.)
*“Ethanol constituted 92% of alcohol sales, with maize prices softening.” (Translation: The ethanol hangover’s mild, but we’ll still need aspirin for pricing.)
*“Global sugar surplus means exports are a challenge.” (Translation: Selling abroad now feels like trying to offload sand in Rajasthan.)
