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Buy Triveni Engineering and Industries: target of Rs 240: Sharekhan

Sharekhan is bullish on Triveni Engineering and Industries has recommended buy rating on the stock with a target price of Rs 240 in its research report dated June 30, 2021.

July 01, 2021 / 12:44 PM IST
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Sharekhan's research report on Triveni Engineering and Industries

Triveni Engineering & Industries’s (TEIL’s) Q4FY2021 performance was affected by lower sugar dispatches that dragged down revenues by 21%. However, higher gross margins helped OPM rise 135 bps to 13.8%. FY21 revenues and PBT grew by 6% and 8%, respectively, while OPM stood at 11.9%. Reducing debt by Rs. 562 crore aided in interest cost reduction of 35% during the year. Ethanol capacity will be expanded to 660 klpd by FY23. Better sugar realisations, higher revenues from distillery business and a recovery in the engineering & water business would help PAT to grow by 30% over FY21-23.


Structural change in sugar industry, fall in consolidated debt and double-digit earnings growth visibility are key re-rating triggers. We maintain a Buy with a revised PT of Rs. 240.

For all recommendations report, click here

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

Broker Research
first published: Jul 1, 2021 12:44 pm

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