Buy Triveni Engineering and Industries; target of Rs 340: Sharekhan

Sharekhan is bullish on Triveni Engineering and Industries has recommended buy rating on the stock with a target price of Rs 340 in its research report dated March 24, 2023.

Broker Research

March 27, 2023 / 15:00 IST

Buy Triveni Engineering and Industries

26 Aug, 2025 12:21

Volume

Todays L/H

Sharekhan's research report on Triveni Engineering and Industries

Distillery business’ capacity to expand to 1,110 KLPD by end of FY24 from 660KLPD currently. Ethanol production to increase to 32 crore litre in FY2025 from 18 crore litre in FY2023. Power transmission business revenues are expected to grow by 25-30% and consistent improvement in the margins on back of large initiatives created by the government in the domestic market and revival of industrial cycle. TEIL’s sugar crop (fewer weather vagaries), doubling of distillery capacity and strong order booking in the engineering business will aid PAT to grow by 35% over FY2023-25E.

Outlook

We re-iterate a Buy on Triveni Engineering & Industries Ltd (TEIL) with an unchanged PT of Rs. 340. Drivers are in place to deliver strong double digit earnings growth; stock attractively valued at 20.1/14.8x/11.2x its FY2023E/24/25E EPS makes its better pick in the sugar space.

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