Triveni Engineering and Industries Ltd

Triveni Engineering Industries Ltd is a focused, growing corporation having core competencies in the areas of sugar and engineering. The company is among the three largest sugar manufacturers in India, and the market leader in its engineering business comprising steam turbines, high speed gears, gearboxes and water treatment solutions. The Company is engaged in diversified businesses, mainly categorised into two segments Sugar allied businesses and Engineering business. Sugar allied businesses primarily comprises manufacture of sugar and distillation of alcohol. Engineering business primarily comprises manufacture of high speed gears, gearboxes and providing water/wastewater treatment solutions. The other operations mainly include the operations of retail stores at various rural and semiurban locations pursued by Triveni Retail Ventures Ltd, a wholly owned subsidiary, and trading of various package fast moving consumer goods, including sugar.The company has seven sugar mills in operation at Khataull, Deoband, Sabitagarh, Chandanpur, Raninagal, Milak Naraipur and Ramkola in Uttar Pradesh. They are having turbine manufacturing and gear manufacturing facilities at Bangalore and Mysore and water waster water treatment business is located at Noida. The company is also having a two cogenerations power plants located at their major facilities, namely Khatauli (46 MW) Deoband (22 MW) and a 160,000 litre per day capacity distillery at Muzaffarnagar. Triveni Engineering Industries Ltd, a part of Triveni group was incorporated on July 27, 1932 as The Ganga Sugar Corporation Ltd. The company obtained a certificate of commencement of business on February 6, 1933. As per the scheme of arrangement, the whole undertakings of Ramkola Sugar Mills were transferred to the company effective from October 31, 1969. By virtue of this amalgamation, the company acquired a sugar at Ramkola in eastern Uttar Pradesh. In April 3, 1973, the name of The Ganga Sugar Corporation Ltd was changed to Gangeshwar Ltd.In March 2000, the Erstwhile Triveni Engineering Industries Ltd merged with the company. The Erstwhile Triveni Engineering Industries Litd was carrying on the business of manufacture of sugar at their factory at Khatauli, manufacture of steam turbines at Bangalore, and manufacture of high speed reduction gears at Mysore. Further, they had a sugar plant machinery, hydro turbine business and waste water treatment business at New Delhi. The name of the company was changed from Gangeshwar Ltd to Triveni Engineering Industries Ltd on March 31, 2000. In December 2004, the companys cogeneration plant at Deoband was commissioned. In October 19, 2005, the cogeneration plant at Khatauli was synchronized with the grid and began external sales of electricity. Upper Bari Power Generation Ltd became the subsidiary of the company with effect from 29th April 2005. In October 25, 2005, Triveni SRI Ltd started the business of rural retailing (Kushali Bazaar) and took over this business from our company with the objective to provide focused growth.During the year 200506, the company expanded their sugar division from 25250 TCD to 40500 TCD. They commissioned the 7000 TCD greenfield sugar unit in Sabitgarh in January 2006. During the year, the turbine unit at Bangalore doubled its capacity to address the increased domestic demand. The expansion was completed in a record nine months by 31 December 2005 for an additional investment of only Rs 180 million. The water business division commissioned a water treatment plant for boiler feed water using the doublepass reverse osmosis system corresponding to the CEDI technology used in the companys Khatauli sugar factory. Also, Triveni Khushali Bazaar added 10 new stores during the year.During the year 200607, the company undertook the capacity expansion in sugar operations with the setting up of three new units with an aggregate capacity of 17500 TCD and also a brownfield expansion at Ramkola where the crushing capacity was enhanced from 3500 to 6500 TCD. In December 2006, the phase II cogeneration plant was commissioned at Khatauli plant. In June 27, 2006, the company incorporated Triveni Engineering Ltd as a wholly owned subsidiary company. In April 2007, the company started their operations in one of the largest single stream molasses based 160 KLPD distillery unit.During the year 200708, the company successfully commissioned the 27 MW steam turbine. Also, they installed state of the art machines at our engineering facilities at Bangalore and Mysore. The company divested their stake in Abohar Power Generation Ltd which ceased to be a subsidiary during the year. In February 2008, the company incorporated Triveni Energy Systems Ltd as a wholly owned subsidiary company.GE Triveni Limited (GTL) was incorporated as Wholly Owned Subsidiary with an affiliate of GE Oil Gas in 200910.The Company Commissioned Delhis first Sewage Recycling Plant for NDPLs 106 MW Gasbased Power Plant in 201011. During the year 201011, the Honble Allahabad High th Court vide its Order dated 19 April, 2011 sanctioned the Scheme of Arrangement between Triveni Engineering Industries Limited (the Company), its wholly owned subsidiary company, Triveni Turbine Ltd. (TTL), and their respective shareholders and creditors. The said order became effective on st 21 April, 2011 being the date of filing of the Order with the Registrar of Companies. The steam turbine business (Demerged Undertaking) was demerged into Triveni Turbine Ltd. (TTL) pursuant to the Scheme of Arrangement y with effect from the appointed date on 1st October 2010.The Steam Turbine Business of the Company, including all assets and liabilities, stood transferred and vested in TTL, with effect from the appointed st date 1 October, 2010. In accordance with the Scheme approved by the Honble Allahabad High Court, the investment held by the Company in the equity share capital of GE Triveni Ltd. (GETL) stood transferred to and vested in TTL. Accordingly, GETL ceased to be a subsidiary of the Company.During the year 201112, the Company made a strategic investment in the share capital of Aqwise Wise Water Technologies Limited, Israel, a leader in development and implementation of wastewater treatment solutions for the industrial and municipal markets, by way of subscribing/ acquiring 25.04% of the equity share capital of Aqwise. As a part of this strategic investment in Aqwise, the Company secured access to their technology for projects in India.During the period 201213, two new companies, Bhudeva Projects Limited and Svastida Projects Limited were incorporated as Wholly Owned Subsidiaries of the Company on March 19, 2014. Further, the Company acquired 4,35,270 equity shares of Rs 10/ each of Triveni Entertainment Limited (TEL) at book value from the existing shareholders of TEL and consequent to the acquisition, TEL became a wholly owned subsidiary of Company.During 201516, the Company incorporated a new wholly owned subsidiary (WOS), Triveni Industries Ltd., on July 22, 2015. Further, it divested nominal equity shares in its existing WOS viz. Triveni Sugar Ltd. (TSL) (formerly Bhudeva Projects Ltd.). Consequently, TSL became 99.99% subsidiary of the Company.The Board approved a New Scheme of Arrangement between the Company, its wholly owned subsidiary, Triveni Industries Ltd, (TIL), and their respective Shareholders and Creditors for transfer of the Sugar Business, comprising all seven sugar mills along with Cogeneration and Distillery operations, including all related assets and liabilities,and vesting of the same in TIL by way of demerger from the Appointed date of the Scheme, April 01, 2016.During the year 201819, Company incorporated a new wholly owned subsidiary, Mathura Wastewater Management Pvt Ltd. (MWMPL) on June 12, 2018. The Company set up 160 KLPD Distillery at its sugar unit at Sabitgarh, which commissioned in the first quarter of FY 20.During the year 202021, two new companies namely, Triveni Foundation (Section 8 Company) and Gaurangi Enterprises Limited were incorporated as wholly owned subsidiaries of the Company. Further, the Company acquired 100% equity stake in United Shippers Dredgers Limited (USD) from the existing shareholders of USD. With this acquisition, USD became a wholly owned subsidiary of Company.During the year 202122, a new company, namely, Pali ZLD Private Limited (PZPL), was incorporated as a wholly owned subsidiary of the Company.