Triveni Engineering and Industries Q4 net profit rises 74% to Rs 190 crore

Triveni Engineering and Industries Ltd, on Thursday, posted a consolidated net profit of Rs 190 crore for the March quarter. This is 74.31 per cent rise from Rs 109 crore a year ago, the company statement said.

The company’s consolidated revenue from operation rose by 52.51 per cent to Rs 1,818 crore for the March quarter as compared to Rs 1,192 crore in the year-ago period.

In a regulatory filing, the company said, “the board recommended a dividend of 325% i.e. Rs 3.25 per fully paid up equity share of Re I each of the company for the financial year ended March 3 I, 2023, subject to approval of the shareholders at the ensuing Annual General Meeting (AGM).”

The dividend, if declared, shall be paid to the shareholders, subject to deduction of tax at source, within thirty days from the date of declaration.

The board of directors approved the re-appointment of Tarun Sawhney as managing director of the company for a further period of five years, the company said in a BSE filing.

The board approved further capex of Rs 85 crore for sugar business group, which mainly includes expansion in the capacity of one of the existing sugar units at Sabitgarh.

Tarun Sawhney, 50, is an industrialist and one of the promoters of the company, with vast experience in agricultural, manufacturing, sugar & engineering industries. He was inducted on the Board of Company since November 19, 2008. Currently, he is the vice chairman and managing director of the company.

The shares of Triveni Engineering and Industries Ltd on Thursday ended marginally lower at Rs 265.10 on BSE.