In an interview to CNBC-TV18, Tarun Sawhney, VC & MD of Triveni Engineering & Industries spoke about the results and his outlook for the company.
In an interview to CNBC-TV18's Reema Tendulkar & Prashant Nair, Tarun Sawhney, VC & MD of Triveni Engineering & Industries said that hike in fair and remunerative price (FRP) by Rs 30-40 per quintal could be dangerous.
A panel of experts from the sugar industry agree that the farmer is king, and the government should come out with a policy that is favourable to everyone.
"One million tonnes have been contracted and another one million tonnes will be contracted," Tarun Sawhney, president of the Indian Sugar Mills Association told a conference in Dubai.
Tarun Sawhney, VC & MD, Triveni Engineering and Industries is hopeful of sugar prices moving up by Rs 2.5/kilo from current levels of Rs 29-30/kilo.
Commenting on the dismal performance of their sugar business in July-September quarter, Tarun Sawhney of Triveni Engineering says, they have been suffering losses for the last 12 months and going forward the future of the business totally depends on sugarcane prices in Uttar Pradesh (UP).
The UP sugar industry is in a devastating situation at this point in time with the losses for the last fiscal year crossing Rs 3,000 crore, the highest in history. However, the industry hopes government to take some measures soon on the cane pricing policy going ahead, says Tarun Sawhney.
Triveni announced that it has signed an agreement with Lufkin Industries Inc., Lufkin, Texas, USA., leading high speed gear manufacturer globally.