New Delhi: Triveni Engineering & Industries Ltd. posted an increase of 15% in net sales to Rs11.65 billion in the October to June 2007 period.
Ebitda was 200% higher at Rs2.35 billion with an improvement in Ebitda margin by over 12% and PAT grew ten times to Rs846 million. EPS for the nine months was Rs3.28 (not annualized).
The sugar business, including cogeneration and distillery achieved a net turnover of Rs8.17 billion, 11% higher than the corresponding previous period owing to higher sugar volumes, better sugar realizations and higher contribution from the distillery operations while the engineering businesses also achieved a similar growth of 11% during this period.
Overall PBIT increased 418% to Rs1.72 billion, with PBIT margin expanded to 14.8 % from 3.3 % last year. This was due to better margins in the engineering business and improved financials of the sugar business. During the nine months ending 30 June 2008, total engineering business PBIT went up by 29% at Rs1195 million while for the sugar business, it was a loss of 424 million which turned positive at Rs772 million.
The performance of the engineering businesses continues to be in line with expectations and PBIT margins showed an improvement of over 350 basis points year-on-year and is expected to continue at this levels in the coming quarters as well. The order book for the engineering business grew by 24% year-on-year with water business achieving significant increase in order book.
For 9M FY 08, depreciation and amortization went up 39% to Rs628 million on account of new projects implemented in sugar and engineering. The total finance cost increased to Rs698 million from Rs398 million due to debts contracted to fund the new projects and increased working capital requirements including payment of cane dues. Net profit before tax (PBT) increased to Rs1.03 billion while Profit after Tax (PAT) went up ten times to Rs846 million.