Triveni Engineering & Industries

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Triveni Engineering & Industries Limited
FormerlyThe Ganga Sugar Corporation Limited
Gangeshwar Limited
Company type Public
NSE:  TRIVENI
BSE:  532356
ISIN INE256C01024
Industry Conglomerate
Founded27 July 1932;92 years ago (1932-07-27)
Headquarters
Noida
,
India
Area served
India
Key people
Dhruv M. Sawhney (Chairman & Managing Director)
Tarun Sawhney (Vice Chairman & Managing Director)
Nikhil Sawhney (Director)
RevenueIncrease2.svg₹4698.33 crore (March 2021 [1] )
Website www.trivenigroup.com

Triveni Engineering & Industries Limited (TEIL) is an Indian conglomerate with diversified businesses in sugar and engineering, headquartered in Noida, India. [2] [3] It was founded in 1932. The company is engaged in sugar and alcohol, including ethanol production, power co-generation, power transmission, including industrial gears & gearboxes and defence, water treatment solutions and FMCG brands. [4] [5] It is the second-largest sugar producer in India. [6] [7] [8]

Contents

History

Dhruv Sawhney, Chairman and Managing Director of Triveni Engineering & Industries at the Horasis Global India Business Meeting 2009 Dhruv Sawhney, Chairman, Triveni Engineering & Industries, at the Horasis Global India Business Meeting 2009 - Flickr - Horasis.jpg
Dhruv Sawhney, Chairman and Managing Director of Triveni Engineering & Industries at the Horasis Global India Business Meeting 2009

The company was founded on 27 July 1932, and incorporated under the provisions of Companies Act 1956, as The Ganga Sugar Corporation Limited. It received a certificate of commencement of business on 6 February 1933. [9] It acquired the Khatauli sugar plant in 1952.

In 1973, it was renamed Gangeshwar Limited from The Ganga Sugar Corporation. It was renamed Triveni Engineering & Industries Limited in 2000. [10]

In 2005, it started a rural retail chain, Khushali Bazaar, under its fully-owned retail arm, Triveni Retail Ventures Ltd, which operated in Uttar Pradesh and Uttarakhand. Later, it was shut down in 2013. [11] [12] [13]

In 2007, the company entered the alcohol business by setting up its first distillery in Muzaffarpur, which has a capacity to produce 160 kilo per day. [14] In 2019, the company set up another distillery at Sabitgarh unit with a capacity of 160KLPD.[ citation needed ]

On 13 June 2018, a concession agreement was signed between National Mission for Clean Ganga (NMCG), Uttar Pradesh Jal Nigam, and Triveni Engineering to develop India's first city-wide integrated sewage infrastructure for Mathura at an estimated cost of over ₹437 crore on a Hybrid Annuity-based mode. [15]

In 2020, the company forayed into the country liquor space by launching four liquor brands, including Miss Rangeeli and Shahenshah. [16] In March 2021, it was assigned to build a desalination plant in the Maldives. [17]

In November 2021, Engineering Power Transmission business signed a 10-year contract with US-based GEAE Technology to manufacture the 'LM2500' gas turbine base and enclosure, which powers many of the Indian Navy's vessels. [18]

Operations

The company operates seven sugar mills at Khatauli, Deoband, Sabitgarh, Chandanpur, Rani Nangal, Milak Narayanpur and Ramkola in Uttar Pradesh. The company also has two co-generation power plants at Khatauli (46 MW), Deoband (22 MW) and a 160000 litre per day capacity distillery in Muzaffarnagar. [19] TEIL has co-generation plants with a total capacity to generate power of 105 MW. [14]

It has gear manufacturing facility in Mysore. It is engaged in manufacturing high-speed gears and gearboxes of up to 70MW capacity with speeds of 70,000 RPM. [20]

The company also sells refined sugar (40 per cent) and produces pharma grade sugar, which it sells mainly through institutional buyers, like soft drinks, candy and ice-cream makers. [14] TEIL is also into water treatment solutions and has undertaken various sewage treatment projects. The company has got 120 plants working over the last few decades. In the EPC division, Triveni had undertaken hydel projects, waste treatment and water projects and coal beneficiation and minerals concession projects. [14]

The company is engaged in manufacturing defence products mainly related to the Indian Navy. Their defence supplies include propulsion systems, steam turbines and turbo steam engines. Its 80 per cent of the business comes from sugar production, while its ethanol business contributes to about 10 per cent of the turnover. [14]

Financials

In FY21, the company reported a revenue of ₹4,698.33 crore (US$563 million) with a profit (EBIT) of ₹505.14 crore. [1]

Awards and recognition

See also

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References

  1. 1 2 "Triveni Eng.&Ind.Ltd Profit and Loss". The Economic Times. March 2021.
  2. ↑ Agarwala, R.P. (1981). The Triveni Engineering Works Limited. Eastern Economist, the University of Michigan. p. 282. Retrieved 30 January 2007.
  3. ↑ Chakraborty, Shruti (11 May 2011). "Triveni Engineering Spins Off Turbine Unit". The Wall Street Journal.
  4. ↑ C. S. G., Krishnamacharyulu (September 2011). Rural Marketing: Text And Cases, 2/E. Pearson Education. ISBN   9788131732632.
  5. ↑ Swami Smaranananda (1981). "In the company of the holy mother". Prabuddha Bharata . 86. Advaita Ashrama. OCLC   781901638. The Triveni Engineering Works Limited Are leaders in the manufacture of machinery required in the Sugar, Chemical, Fertilizer, Paper, Metallurgical and other Process Industries .
  6. ↑ Joshi, Ashutosh (7 December 2021). "Sugar Mill With 200% Stock Rally Looks to Ride Modi's Green Push". Bloomberg News.
  7. ↑ Mirchandani, Nickey (26 May 2021). "Why Dhampur Sugar To Triveni Are On Track To Reap Better Margins". BloombergQuint.
  8. ↑ Advani, A. H. (March 2005). Business India Issues 706-712. Business India, the Northwestern University. p. 41. Today, Triveni Engineering and Industries Limited, with its three plants, has grown to a combined capacity of 25,250 tcd, making us one of India's largest sugar companies . With more factories on the anvil, Triveni is well ...
  9. ↑ "Board of Triveni Engineering and Industries Gives Approval for Two New Distilleries in UP". News 18. 4 February 2021.
  10. ↑ Industry, Financial Aggregates & Ratios. Centre for Monitoring Indian Economy. 2002. Triveni Engg . Works merged with Triveni Engg & Inds . which was later amalgamated with Gangeshwar Ltd. w.e.f. 31.3.2000 and the name of Gangeshwar Ltd. was changed to Triveni Engg . & Inds . Ltd. Co - operative sugar mills
  11. ↑ Modi, Ajay (21 January 2013). "Triveni shuts down rural retail biz". Business Standard.
  12. ↑ "Triveni Khushali plans 200 outlets by 2009". Livemint. 17 July 2007.
  13. ↑ Vijayraghavan, Kala (3 November 2008). "Triveni to sell off its rural superstore chain". The Economic Times.
  14. 1 2 3 4 5 Parikh, Daksesh (18 May 2021). "Triveni Engineering soars high". Business India.
  15. ↑ Purthi, Rupali (16 June 2018). "NMCG, UP Jal Nigam and Triveni Engineering sign agreement for development of sewage infrastructure". Jagran Josh, Dainik Jagaran . Retrieved 22 February 2024.
  16. ↑ Chaliawala, Nehal (2 October 2021). "Sugar barons push into the country liquor business, strike gold". The Economic Times.
  17. ↑ Chaudhury, Dipanjan Roy (17 March 2021). "India signs contract to develop water projects across Maldives". The Economic Times.
  18. ↑ "Triveni Engineering inks pact with GEAE Tech to manufacture gas turbine base". The Economic Times. 22 November 2021.
  19. ↑ Kapoor, Rajiv (2 September 2017). "Triveni Engineering is a good buy". The Sunday Guardian.
  20. ↑ "Triveni Engineering sees recovery trend in gear business". The Hindu Business Line. 13 August 2020.
  21. ↑ Indiastat India Top 10 Yearbook 2016. Publication Cell, Datanet India Pvt. Limited. 2016. p. 79. ISBN   9789380590608.
  22. ↑ "Triveni Engineering Awarded". Clean India Journal. 1 March 2011.
  23. 1 2 3 "Seeds of Success" (PDF). bseindia.com .
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