The company reported a 187% jump in consolidated EBITDA to Rs 193.3 crore in Q2 September 2019 as against Rs 67.2 crore in Q2 September 2018. EBITDA margin improved to 20% in Q2 2019 as against 10% in Q2 2018.

The company credited sugar business performing well in Q2 2019 owing to stable sugar prices. Booking of subsidies of Rs 99.2 crore relating to mainly exports/costs incurred in FY2019 has led to better profitability.

The company also reported that the performance of both the engineering businesses, gears & water segment, was much better than the corresponding previous quarter.

Commenting on the company's financial performance, Dhruv M. Sawhney, chairman and managing director, said "The company delivered a strong turnover and profitability for the quarter and half year. The sugar business has performed well owing to stable sugar prices. The sugar season 2019-20 is expected to produce much lower volume of sugar after considering lower sugar production of around 0.85 million tonnes due to diversion of B-heavy molasses and sugarcane juice for production of ethanol. The decline in sugar production is attributed to climatic factors in the states of Maharashtra and Karnataka where the sugar production is expected to decline significantly. The estimates for sugar production in UP are more or less at similar levels even though the area under sugar cane planting has been lower. Both the engineering businesses have performed in line with our expectation. The Water Business has registered better performance in terms of turnover & profitability on account of healthy carry forward order book which is under execution even though the order finalization has been slow during the half year. The gears business, during the period under review, has performed well in terms of turnover, profitability and the order booking. Overall, there is a positive traction in all our business segments."

Shares of Triveni Engineering & Industries rose 1.98% to Rs 69.50. The stock has surged 12.46% in one month as compared to a 5.59% surge in benchmark Sensex.

Triveni Engineering & Industries is a focused, growing corporation having core competencies in the areas of sugar and engineering. The company is one among the largest integrated sugar manufacturers in India and the market leader in its engineering businesses comprising high speed gears, gearboxes, and water treatment solutions.