Sharekhan has given Buy recommendation for Triveni Engineering and Industries with a target price of Rs. 90 in its research report issued on Feb 04, 2021

Sharekhan’s research report on Triveni Engineering & Industries

Triveni Engineering & Industries (TEIL) Q3FY21 results were better than expectations mainly led by a sharp expansion of 609 bps in OPM to 14.3%, resulting in a 3.5x growth in PAT to Rs. 139 crore; revenue grew by 5%. Sugar division and distillery division revenues grew by 9% and 7% each; engineering business has almost reached to 7 0% of pre-COVID levels. Higher sugar under ethanol blending and export quota of 6 million tonnes would lead to better performance in FY2022 despite higher sugar production. Engineering business is expected to recover strongly with strong order book.


We have broadly maintained our earnings estimates for FY2022/23. We recommend Buy on the stock with the price target of Rs. 90.

For all recommendations report, click here