Buy Triveni Engineering & Industries, target price Rs 298: IIFL

IIFL has buy call on Triveni Engineering & Industries with a target price of Rs 298. The current market price of Triveni Engineering & Industries Ltd. is Rs 288.45. IIFL recommended to keep stop loss at Rs 277.

Triveni Engineering & Industries., incorporated in the year 1932, is a Small Cap company (having a market cap of Rs 6307.54 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 31-03-2023, the company has a total of 22 Crore shares outstanding.

Investment Rationale
The stock has given a consolidation breakout.

Promoter/FII Holdings
Promoters held 60.98 per cent stake in the company as of 31-Mar-2023, while FIIs owned 4.67 per cent, DIIs 8.54 per cent.