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Triveni Engineering and Industries Ltd.

BSE: 532356 Sector: Agri and agri inputs
NSE: TRIVENI ISIN Code: INE256C01024
BSE 00:00 | 25 Mar 57.75 0.55
(0.96%)
OPEN

58.00

HIGH

58.70

LOW

57.00

NSE 00:00 | 25 Mar 57.90 0.65
(1.14%)
OPEN

57.70

HIGH

58.75

LOW

57.45

OPEN 58.00
PREVIOUS CLOSE 57.20
VOLUME 59887
52-Week high
52-Week low
P/E 80.21
Mkt Cap.(Rs cr) 1,489
Buy Price 57.10
Buy Qty 50.00
Sell Price 58.00
Sell Qty 2518.00
OPEN 58.00
CLOSE 57.20
VOLUME 59887
52-Week high
52-Week low
P/E 80.21
Mkt Cap.(Rs cr) 1,489
Buy Price 57.10
Buy Qty 50.00
Sell Price 58.00
Sell Qty 2518.00

Triveni Engineering and Industries Ltd. (TRIVENI) - Company History

Triveni Engineering & Industries Ltd is a focused, growing corporation having core competencies in the areas of sugar and engineering. The company is among the three largest sugar manufacturers in India, and the market leader in its engineering business comprising steam turbines, high speed gears, gearboxes and water treatment solutions. The company has four subsidiaries namely, Triveni Retail Ventures Ltd, Upper Bari Generation Ltd, Triveni Engineering Ltd and Triveni Energy Ltd. The company has three business Sugar and Allied Businesses, Engineering Businesses, and other. Sugar and Allied Businesses includes Sugar, Co-generation and Distillery operations. Engineering Businesses includes the manufacture of steam turbines, high speed gears and water/wastewater treatment. The other operations mainly include the operations of retail stores at various rural and semi-urban locations pursued by Triveni Retail Ventures Ltd, a wholly owned subsidiary, and trading of various package fast moving consumer goods, including sugar. The company has seven sugar mills in operation at Khataull, Deoband, Sabitagarh, Chandanpur, Raninagal, Milak Naraipur and Ramkola in Uttar Pradesh. They are having turbine manufacturing and gear manufacturing facilities at Bangalore and Mysore and water & waster water treatment business is located at Noida. The company is also having a two co-generations power plants located at their major facilities, namely Khatauli (46 MW) & Deoband (22 MW) and a 160,000 litre per day capacity distillery at Muzaffarnagar. Triveni Engineering & Industries Ltd, a part of Triveni group was incorporated on July 27, 1932 as The Ganga Sugar Corporation Ltd. The company obtained a certificate of commencement of business on February 6, 1933. As per the scheme of arrangement, the whole undertakings of Ramkola Sugar Mills were transferred to the company with effect from October 31, 1969. By virtue of this amalgamation, the company acquired a sugar at Ramkola in eastern Uttar Pradesh. In April 3, 1973, the name of The Ganga Sugar Corporation Ltd was changed to Gangeshwar Ltd. In March 2000, the Erstwhile Triveni Engineering & Industries Ltd merged with the company. The Erstwhile Triveni Engineering & Industries Litd was carrying on the business of manufacture of sugar at their factory at Khatauli, manufacture of steam turbines at Bangalore, and manufacture of high speed reduction gears at Mysore. Further, they had a sugar plant machinery, hydro turbine business and waste water treatment business at New Delhi. The name of the company was changed from Gangeshwar Ltd to Triveni Engineering & Industries Ltd on March 31, 2000. In December 2004, the company's co-generation plant at Deoband was commissioned. In October 19, 2005, the co-generation plant at Khatauli was synchronized with the grid and began external sales of electricity. Upper Bari Power Generation Ltd became the subsidiary of the company with effect from 29th April 2005. In October 25, 2005, Triveni SRI Ltd started the business of rural retailing (Kushali Bazaar) and took over this business from our company with the objective to provide focused growth. During the year 2005-06, the company expanded their sugar division from 25250 TCD to 40500 TCD. They commissioned the 7000 TCD greenfield sugar unit in Sabitgarh in January 2006. During the year, the turbine unit at Bangalore doubled its capacity to address the increased domestic demand. The expansion was completed in a record nine months by 31 December 2005 for an additional investment of only Rs 180 million. The water business division commissioned a water treatment plant for boiler feed water using the double-pass reverse osmosis system corresponding to the CEDI technology used in the company's Khatauli sugar factory. Also, Triveni Khushali Bazaar added 10 new stores during the year. During the year 2006-07, the company undertook the capacity expansion in sugar operations with the setting up of three new units with an aggregate capacity of 17500 TCD and also a brownfield expansion at Ramkola where the crushing capacity was enhanced from 3500 to 6500 TCD. In December 2006, the phase II co-generation plant was commissioned at Khatauli plant. In June 27, 2006, the company incorporated Triveni Engineering Ltd as a wholly owned subsidiary company. In April 2007, the company started their operations in one of the largest single stream molasses based 160 KLPD distillery unit. During the year 2007-08, the company successfully commissioned the 27 MW steam turbine. Also, they installed state of the art machines at our engineering facilities at Bangalore and Mysore. The company divested their stake in Abohar Power Generation Ltd which ceased to be a subsidiary during the year. In February 2008, the company incorporated Triveni Energy Systems Ltd as a wholly owned subsidiary company.