IN A SWEET SPOT
BW Businessworld|21 October 2023
Triveni Engineering & Industries ended FY23 with a turnover of nearly Rs 6,000 crore, boosted in large part by its sugar business. The diversified conglomerate is now eyeing similar growth opportunities in its other business verticals
Ashish Sinha
IN A SWEET SPOT

INDIA’S SUGARCANE AND SUGAR INDUSTRY has literally hit the sweet spot. It is not just the country’s second-largest agro-based sector, following closely behind cotton, but has also put India in the top spot globally in sugar production -- churning out an impressive 37 million metric tonne of sugar in 2022. Besides, it also sustains the livelihoods of countless sugarcane farmers in rural areas while providing gainful employment to nearly 500,000 individuals working in sugar mills across the nation.

The industry is in the news these days. Sugar prices in the country have surged over 3 per cent in two weeks, reaching a six-year high due to concerns about limited rainfall in key growing regions. This spike could worsen food inflation and deter sugar exports, which, in turn, may end up inadvertently supporting already high global prices.

Sugar mills fear a sharp production decline in the upcoming season due to drought, making them reluctant to sell at lower prices, according to Ashok Jain, President of the Bombay Sugar Merchants Association. While this price hike may strain consumers, it’s a boon for sugar producers like Balrampur Chini, Triveni Engineering & Industries, Dwarikesh Sugar, Shree Renuka Sugars, and Dalmia Bharat Sugar. Improved margins will help them make timely payments to farmers, say experts.

One company, like its peers, has seen robust growth in its production, processing and sale of sugar. One of the largest integrated sugar producers in the country, Triveni Engineering & Industries (TEIL) has set new records in various segments, showcasing its resilience and commitment to growth in FY23. Triveni is also among the leading players in its engineering businesses, comprising power transmission and water and wastewater treatment solutions.

Diese Geschichte stammt aus der 21 October 2023-Ausgabe von BW Businessworld.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der 21 October 2023-Ausgabe von BW Businessworld.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BW BUSINESSWORLDAlle anzeigen
Powerful, Peculiar Perquisites
BW Businessworld

Powerful, Peculiar Perquisites

MOST COMPANIES recognise that people are key to their success. Competition is all about the war for talent. Higher compensations can, in many cases, attract that brilliant leader or the tech genius, but a competitor may well offer even more. This race is financially draining and not really a great strategy.

time-read
2 Minuten  |
May 18, 2024
Shaping The Future Of India's Infrastructure
BW Businessworld

Shaping The Future Of India's Infrastructure

RUPEN PATEL on the achievements of the engineering and construction major including the iconic projects rendered by it, nation building, focus on sustainable practices and much more

time-read
1 min  |
May 18, 2024
WHY DON'T WE SUE BRITAIN?
BW Businessworld

WHY DON'T WE SUE BRITAIN?

I WAS WORKING ON my next column for BW – on one of my favourite themes like ‘Sustainability’, ‘Inclusivity’, ‘India Shining’ etc.

time-read
2 Minuten  |
May 18, 2024
LIFE AND TIMES OF A MEDIA TITAN
BW Businessworld

LIFE AND TIMES OF A MEDIA TITAN

DD Purkayastha's autobiography captures his 42-year tryst with the ABP Group, delving into various aspects of his professional and personal experiences, as well as insights into the factors that have shaped his character and career trajectory

time-read
4 Minuten  |
May 18, 2024
THE SONET STRIKES BACK
BW Businessworld

THE SONET STRIKES BACK

The sub-4-metre SUV segment in India has been a battlefield for automakers, each vying for supremacy with their unique propositions. With the launch of 2024 Kia Sonet, the South Korean automaker is sharpening its edges in this competitive market

time-read
3 Minuten  |
May 18, 2024
SLEEK, SUBTLE, COMPACT AND EASY TO CARRY
BW Businessworld

SLEEK, SUBTLE, COMPACT AND EASY TO CARRY

The HP Omen Transcend 14 targets a niche market that is growing day by day. Statistically, never in history, was there a better time to launch a gaming laptop, says Deep Majumdar

time-read
5 Minuten  |
May 18, 2024
Geopolitical Resilience for Indian Companies
BW Businessworld

Geopolitical Resilience for Indian Companies

It's in crisis that inventiveness is born, as well as discoveries made and great strategies arise. He who overcomes crisis, overcomes himself, without getting overcome. - Albert Einstein

time-read
4 Minuten  |
May 18, 2024
The Sourav Ganguly Era
BW Businessworld

The Sourav Ganguly Era

Lessons in Leadership from Indian Cricket - 2

time-read
5 Minuten  |
May 18, 2024
Leadership Challenges Were Not This Long, Before
BW Businessworld

Leadership Challenges Were Not This Long, Before

LEADING IN TODAY’S dynamic environment presents unprecedented challenges. The list of challenges is never-ending. They include navigating complex decisions, staying resilient, inspiring teams, staying innovative, and continually adapting to the constantly changing ecosystem.

time-read
3 Minuten  |
May 18, 2024
The Supreme Court Emerges as a Net Zero Polestar
BW Businessworld

The Supreme Court Emerges as a Net Zero Polestar

'Dharma exists for the welfare of all beings. Hence, that by which the welfare of all living beings is sustained, that for sure is dharma,' - Mahabharata (Shanti Parva 109.10)

time-read
4 Minuten  |
May 18, 2024