Accumulate Triveni Engineering and Industries; target of Rs 480: Asit C Mehta

Asit C Mehta recommended Accumulate rating on Triveni Engineering and Industries with a target price of Rs 480 in its research report dated April 29 2024.

Broker Research

May 03, 2024 / 12:36 IST

Accumulate

26 Aug, 2025 12:21

Volume

Todays L/H

Asit C Mehta report on Triveni Engineering and Industries

Triveni Engineering and Industries Limited (TRIVENI), was incorporated in 1932 and is engaged in various industries, including sugar and alcohol production (including ethanol), power co-generation, power transmission, industrial gears and gearboxes, defense, water treatment solutions, and FMCG brands. It is the second-largest sugar producer in India. TRIVENI is an India-based company primarily involved in diversified businesses, which are categorized into two segments: Sugar & Allied Businesses and Engineering Business. The Sugar & Allied Business segment primarily includes sugar manufacturing and alcohol distillation, while the Engineering Business segment focuses on the production of high-speed gears, gearboxes, and the provision of water/wastewater treatment solutions. The company is an integrated and diversified conglomerate operating in the fields of sugar, ethanol, and engineering. It strategically locates itself in the sugarcane-rich western and central belt of Uttar Pradesh (UP).

Outlook

Going ahead, we expect the company’s revenue to grow at a CAGR of ~16% over FY23-FY26E. Hence, we recommend Triveni Engineering and Industries Limited with a target price of Rs 480 based on FY26E EPS of Rs 31.9 with a forward PE Valuation multiple of 15; it looks value BUY with growth potential at current levels. Hence, we recommend ACCUMULATE rating for the long term.

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