Sharekhan's research report on Triveni Engineering and Industries
Triveni Engineering & Industries (TEIL) has proposed a strategic restructuring to simplify business structure and enhance shareholders’ value in the long run. For every 137 shares of Sir Shadi Lal Enterprises (SSEL), the shareholders will receive 100 shares of TEIL. Further, the power transmission business (PTB) will be demerged and listed into separate entity in the ratio of 3:1. Demerger of PTB (including gears and defence business segments) will enable each business to sharpen its focus and help in fast scale-up of business in the long run.
Outlook
Stock trades at 27x/22x/19x its FY2025E/26E/27E earnings. We maintain our Buy on the stock with revised PT of Rs. 582.
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