Buy Triveni Engineering; target of Rs 270: ICICI Direct

ICICI Direct's research report on Triveni Engineering

Triveni Engineering (TEL) is one of the largest sugar companies in India with sugar crushing capacity of 60,000 TCD, distillery capacity of 320 KLD & co-generation power of 100 MW. It also has power transmission & waste water business contributing 10% to revenues. The company is increasing its distillery capacity from current 11 crore litre per annum to 22 crore litre per annum by FY24 to utilise B-heavy, grain & sugarcane juice route to produce ethanol

Outlook

We continue to maintain our BUY rating on the stock We maintain our target price on the stock at Rs 270, valuing the business at 13x FY23 PE

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More