Triveni Engineering and Industries Limited (TRIVENI) AI Stock Analysis

• Market Cap: ₹75.06B
• Dividend Yield: 0.63%
• Average Volume (3M): 15.16K
• Price to Earnings (P/E): 25.4
• Beta (1Y): 1.34
• Revenue Growth: 14.75%
• EPS Growth: -15.81%
• Country: IN
• Employees: 2,872
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Food Confectioners
• EPS (TTM): 3.70
• Shares Outstanding: 218,897,960
• 10 Day Avg. Volume: 12,657
• 30 Day Avg. Volume: 15,163
• PEG Ratio: -1.01
• Price to Book (P/B): 3.02
• Price to Sales (P/S): 1.65
• P/FCF Ratio: -20.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 14.2
• Revenue Forecast (FY): ₹64.09B

• Rating: 54 Neutral
• Price Target: ₹399.00 ▲(4.66% Upside)
• Action: Reiterated Date: 12/10/25
• Date: Action: Reiterated 12/10/25

Triveni Engineering and Industries Limited's overall stock score is primarily influenced by its mixed financial performance and technical analysis. The company's declining profitability and cash flow issues are significant concerns. The technical indicators suggest a bearish trend, and the valuation indicates the stock may be overvalued. These factors collectively contribute to a cautious outlook.

Positive Factors

Diversified business model

Triveni's split between sugar (plus cogenerated power and co-products) and engineered-to-order industrial businesses creates durable revenue diversification. This reduces dependence on one commodity cycle and provides multiple cash generation channels across different end markets over the medium term.

Consistent revenue growth

Sustained top-line growth demonstrates demand resilience across Triveni's segments. With sequential revenue expansion, the company can leverage scale for margins and amortize fixed costs, supporting longer-term operational stability if growth persists and project execution remains reliable.

Balanced capital structure

A moderate debt-to-equity and near-50% equity ratio indicate a balanced financing mix that supports operations and investment capacity. This degree of leverage can be manageable for funding engineered projects and working capital while retaining capacity to absorb cyclical stress.

Negative Factors

Weak profitability margins

Declining and low operating and net margins limit internal free cash generation and leave little buffer for raw-material cost swings or project overruns. Persistently slim margins restrain reinvestment, reduce resilience to shocks, and constrain ability to fund growth from operations.

Cash flow shortfalls

Negative operating and free cash flow point to structural cash-generation problems, forcing reliance on external financing for working capital or capex. Over months this elevates liquidity risk, can increase financing costs, and limits flexibility for strategic investments or dividend policy.

Rising leverage risk

An increasing debt trend, even from a moderate base, raises interest-service and refinancing risk, especially given weak cash flows and low margins. Higher leverage can constrain capital allocation, increase financial vulnerability during downturns, and pressure credit terms.

Triveni Engineering and Industries Limited Business Overview & Revenue Model

Company Description

Triveni Engineering & Industries Limited engages in the sugar and engineering businesses in India and internationally. The company manufactures and sells white crystal sugar for beverages, food, and fast moving consumer goods (FMCG) companies; pharmaceutical companies; and confectionery producers, as well as offers sugar under the Shagun brand. It also sells surplus molasses and bagasse produced as a by-product in the manufacture of sugar; produces ethanol, extra neutral alcohol, rectified spirit, and denatured spirit; and operates a 104.5 MW grid connected co-generation facility. In addition, the company manufactures and sells high-speed gears and gearboxes for gas and steam turbines, compressors, pumps, blowers, and other industry applications; low-speed gearboxes for hydel turbines, steel mills, sugar mills, rubber mixers and extruders, cement mills, thermal plants, plastics, and other industries; and reciprocating compressors, pumps, and marine offerings. Further, it provides diagnostics and troubleshooting support, reverse engineering, replacement solutions, overhauling, on-site training and assistance, upgradation and automation of existing plants, and installation and commissioning services; refurbishment solutions; and health monitoring of gearboxes. Additionally, the company offers water and wastewater management solutions, as well as recycles water; trades in various FMCG; and retails diesel/petrol. It also develops and manufactures propulsion gearboxes, auxiliary power gas turbines generators, steam turbines, turbo alternator turbines, turbo pumps for the Indian defense forces, as well as steering systems. Triveni Engineering & Industries Limited was incorporated in 1932 and is headquartered in Noida, India.

How the Company Makes Money

TRIVENI generates revenue through multiple streams predominantly from its sugar production, which includes raw sugar, refined sugar, and specialty sugars. The engineering division contributes significantly by providing turbines for power generation, water treatment solutions, and other engineering services. Revenue is also accrued from the sale of by-products of sugar manufacturing, such as molasses and bagasse, which are used in various industries. The company benefits from a network of strategic partnerships and collaborations which enhance its market reach and operational efficiency. Additionally, fluctuations in sugar prices, government policies, and demand from the industrial sector significantly impact its earnings.

Triveni Engineering and Industries Limited Financial Statement Overview

Summary

Triveni Engineering and Industries Limited shows a mixed financial performance. Revenue growth is positive, but declining profitability margins raise concerns about cost and operational efficiency. The balance sheet is stable, though rising debt levels warrant caution. Cash flow management is a significant concern, with negative free and operating cash flows indicating potential liquidity issues.

Income Statement

Triveni Engineering and Industries Limited has shown a stable revenue growth trajectory with a 9.21% increase from 2024 to 2025. The Gross Profit Margin for 2025 was approximately 17.43%, indicating moderate profitability. However, the Net Profit Margin decreased to 4.28%, and the EBIT margin dropped significantly to 6.15%, which highlights challenges in cost management or operational efficiency. EBITDA margin was 9.38%, reflecting a decrease from previous years. The company needs to focus on improving its profitability metrics.

Balance Sheet

The company's Debt-to-Equity Ratio increased to 0.64 in 2025, suggesting higher leverage but still within manageable limits. The Return on Equity for 2025 was approximately 7.82%, indicating a moderate return to shareholders. The Equity Ratio stood at 49.83%, reflecting a balanced financing structure. Overall, the balance sheet shows stability, though increasing debt levels could pose future risks.

Cash Flow

Triveni faced challenges in cash flow management with a significant decline in Free Cash Flow and negative Operating Cash Flow in 2025. The Free Cash Flow to Net Income Ratio was negative, indicating cash flow issues. The Operating Cash Flow to Net Income Ratio was also negative, highlighting operational inefficiencies. The company needs to enhance its cash generation capabilities to support growth and reduce reliance on financing activities.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	62.02B	56.89B	52.09B	56.17B	41.84B	44.88B
Gross Profit	11.94B	9.92B	7.36B	15.30B	6.35B	10.09B
EBITDA	5.82B	5.34B	6.88B	20.98B	6.50B	5.89B
Net Income	2.61B	2.43B	3.95B	17.92B	4.24B	2.95B
Balance Sheet
Total Assets	46.91B	62.42B	51.18B	44.54B	42.97B	36.20B
Cash, Cash Equivalents and Short-Term Investments	1.02B	468.70M	840.88M	796.32M	249.87M	113.58M
Total Debt	7.68B	19.80B	14.24B	9.29B	15.75B	9.90B
Total Liabilities	15.63B	30.83B	22.17B	17.89B	23.85B	20.64B
Stockholders Equity	30.86B	31.11B	29.01B	26.65B	19.13B	15.56B
Cash Flow
Free Cash Flow	13.70B	-4.64B	-2.56B	1.62B	-4.67B	7.02B
Operating Cash Flow	14.85B	-1.64B	1.00B	3.97B	-1.73B	7.91B
Investing Cash Flow	-1.08B	-3.48B	-3.59B	14.14B	-2.57B	-1.08B
Financing Cash Flow	-13.34B	4.77B	2.63B	-17.62B	4.42B	-7.04B

Triveni Engineering and Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 381.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TRIVENI, the sentiment is Negative. The current price of 381.25 is above the 20-day moving average (MA) of 381.22, above the 50-day MA of 369.09, and above the 200-day MA of 365.21, indicating a bearish trend. The MACD of -4.74 indicates Positive momentum. The RSI at 29.75 is Positive, neither overbought nor oversold. The STOCH value of 6.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TRIVENI.

Triveni Engineering and Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GNFC	70 Outperform	₹61.44B	12.10	―	3.68%	-7.53%	42.74%
GSFC	68 Neutral	₹61.62B	11.49	―	2.80%	15.25%	26.49%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RCF	60 Neutral	₹64.44B	24.87	―	0.93%	-3.19%	59.25%
TRIVENI	54 Neutral	₹75.06B	25.39	―	0.63%	14.75%	-15.81%
NFL	45 Neutral	₹33.65B	8.30	―	1.77%	-7.78%	-70.89%

Triveni Engineering and Industries Limited Corporate Events

Triveni Engineering Files SEBI Regulation 74(5) Compliance Certificate for Q3 FY2026

Triveni Engineering & Industries Limited has submitted to the stock exchanges a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025, confirming adherence to depository-related requirements. Registrar and transfer agent KFin Technologies Limited certified that details of securities dematerialised and rematerialised during the period were duly furnished to all listing exchanges, and that physical security certificates received for dematerialisation were properly mutilated, cancelled, and replaced with depository records within the stipulated timelines, underscoring the company’s ongoing compliance with securities handling and investor protection norms.

Triveni Engineering Closes Trading Window Ahead of Q3 FY2026 Results

Triveni Engineering & Industries Limited has announced that its trading window for dealing in the company’s equity shares will be closed from 1 January 2026 until 48 hours after the declaration of its unaudited financial results for the third quarter and nine-month period ending 31 December 2025. The move, undertaken in line with SEBI’s Prevention of Insider Trading Regulations and the company’s internal code of conduct, is a standard compliance measure aimed at preventing insider trading and ensuring fair disclosure to all market participants, with the date of the board meeting to approve these results to be communicated in due course.

NCLT Clears Triveni Engineering’s Composite Scheme of Amalgamation and Demerger

Triveni Engineering & Industries Limited announced that the National Company Law Tribunal, Allahabad Bench, has approved a composite Scheme of Arrangement involving the amalgamation of Sir Shadi Lal Enterprises Limited into Triveni Engineering & Industries Limited and the demerger of the PTB Undertaking of Triveni Engineering & Industries Limited into Triveni Power Transmission Limited. The tribunal’s order, dated 16 December 2025, clears a key legal hurdle for the restructuring, paving the way for consolidation of operations and a realignment of business segments within the group, which is expected to streamline corporate structure and could enhance operational focus and value for shareholders and creditors of the involved entities.