EBITDA fell by 10% to Rs 174.72 crore in Q4 FY21 from Rs 193.91 crore in Q4 FY20. EBITDA margin was at 15% as on 31 March 2021 as against 13% as on 31 March 2020. Profit before tax in Q4 FY21 stood at Rs 133.76 crore, down by 19% from Rs 164.24 crore in Q4 FY20.

The company's consolidated net profit declined by 12% to Rs 294.61 crore on 6% rise in revenue from operations to Rs 4703.35 crore in FY21 over FY20.

Dhruv M. Sawhney, chairman and managing director, Triveni Engineering & Industries, said: "The overall performance of the company during the twelve months ended Mar 31, 2021 has been satisfactory, especially it being a challenging year due to the unprecedented pandemic.

The businesses had largely stabilized by the end of third quarter but surfacing of second wave towards the end of the year has posed further uncertainties. However, it is felt that the impact of the second wave on the industry may be much less pronounced.

Our performance in the sugar season (SS) has been satisfactory. There was a trend of widespread decline in crush and recovery in UP for the SS 2020-21, mainly due to climatic factors but the company has experienced marginal decline, much less than that of the average of the State.

We crushed 8.54 million tonnes of sugarcane with a recovery of 10.98% (gross recovery: 11.86% after adjustment towards B-heavy molasses). The company continues to actively pursue variety substitution programme to gradually reduce overdependence on the star variety Co 0238.

In the engineering business, while there has been a decline in turnover by 15% due to pandemic induced conditions, it has been able to largely maintain the profitability through cost control and efficiencies.

Apart from the traditional market in OEM and after market segment, Power Transmission Business is also focusing on Defence business under “Make in India” initiative and additionally, it has partnered with global OEMs for precision manufacturing of components for wind gearboxes as well as industrial high-speed compressor gears.

Water business has recently secured an EPC project of Water Sewerage project of US$ 22.80 million (Rs 156 crore) from Ministry of National Planning Housing & Infrastructure of Republic of Maldives funded by Exim Bank of India and additionally, it is participating in many bids of considerable value in respect of EPC and HAM projects."

Meanwhile, the company's board has approved expansion of distillation capacity of the existing and upcoming distilleries located at Muzaffarnagar (UP), Milak Narayanpur sugar unit at Distt Rampur UP and Sabitgarh Distt Bulandshahar (UP), subject to receipt of necessary statutory clearances.

The capex plan will raise total distillation capacity from 520 to 660 KLPD at an aggregate cost of Rs 100 crore (approx.) through low capital cost incidental expansion / debottlenecking through internal accruals. Such expansion will be completed before the commencement of the Sugar season 2022-23.

Triveni Engineering & Industries is one amongst the largest integrated sugar manufacturers in India and the market leader in its engineering businesses comprising power transmission business and water & wastewater treatment solutions.