Buy Triveni Engineering & Industries, target price Rs 360: ICICI Direct

ICICI Direct has buy call on Triveni Engineering & Industries with a target price of Rs 360. The current market price of Triveni Engineering & Industries is Rs 267.25. Time period given by analyst is 12 months when Triveni Engineering & Industries price can reach defined target.


Triveni Engineering & Industries, incorporated in the year 1932, is a Small Cap company (having a market cap of Rs 6608.38 Crore) operating in Sugar sector.

Triveni Engineering & Industries key Products/Revenue Segments include Sugar, Contract Revenue, Other Operating Revenue, Sale of services, Scrap for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 1695.98 Crore, up 14.34 % from last quarter Total Income of Rs 1483.33 Crore and up 51.07 % from last year same quarter Total Income of Rs 1122.65 Crore. Company has reported net profit after tax of Rs 147.28 Crore in latest quarter.

The company’s top management includes Mr.Dhruv M Sawhney, Mr.Sudipto Sarkar, Ms.Homai A Daruwalla, Mr.Nikhil Sawhney, Mr.Tarun Sawhney, Mr.Dhruv M Sawhney, Mr.Jitendra Kumar Dadoo, Mr.Sudipto Sarkar, Ms.Homai A Daruwalla, Mr.Nikhil Sawhney, Mr.Tarun Sawhney, Mr.Dhruv M Sawhney, Mr.Jitendra Kumar Dadoo, Mr.Sudipto Sarkar, Ms.Homai A Daruwalla, Mr.Nikhil Sawhney, Mr.Tarun Sawhney, Mr.Jitendra Kumar Dadoo. Company has S S Kothari Mehta & Co as its auditors. As on 31-12-2022, the company has a total of 24 Crore shares outstanding.

Investment Rationale
The brokerage expects 44.5% CAGR in distillery sales to boost earnings CAGR of 17.6%during FY22-25E.