Triveni Engineering sees recovery trend in gear business

Bengaluru | Updated on August 13, 2020

Dhruv M Sawhney, Chairman and Managing Director, Triveni Engineering & Industries

Triveni Engineering & Industries, a maker of engineered-to-order high speed gears and gearboxes maker which also has operations in sugar and water businesses, said its gears business was impacted in the first quarter due to the Covid-19 pandemic but now sees an encouraging trend of recovery. Yet, uncertainty remains over return to normalcy.

The company’s gear business based in Mysuru is involved in manufacturing of high-speed gears and gearboxes of up to 70MW capacity with speeds of 70,000 rpm (revolutions per minute). Due to the lockdown and restrictions in travel and mobilisation of resources, the engineering businesses’ performance was impacted.

Encouraging signs

However, with proactive planning and use of various digital tools, the gears business managed an encouraging order-booking in June. The company saw strong enquiries from the defence sector and is hopeful of concluding some more of them in the coming quarters.

The company’s outstanding order book as on June 30 stood at ₹157.6 crore including long duration orders of ₹64.7 crore executable over a couple of years.

Dhruv M Sawhney, Chairman and Managing Director, Triveni Engineering & Industries, said: “Given the macro-economic scenario, the company has delivered good results, though a part of the quarter was impacted due to Covid-19. While the engineering businesses were closed for brief periods during the lockdown, the sugar business operated without any interruption. It faced supply chain challenges, but those were managed due to the active support of both the State and Central governments.

“Engineering businesses resumed normal operations from the middle of May, but despite some encouraging trends in order-booking for our gears business, there is an uncertainty on return of normalcy in order-booking, which will be dependent on how the pandemic is controlled and how our concerned industrial segments and geographies resume their normal operations.”

On the outlook for the gear business, Sawhney said: “There could be deferment of orders both from domestic as well as international OEMs (original equipment manufacturers), which may have an impact on the order-booking as well as dispatches for the current year. The company believes that with the easing of the Covid-19 and travel restrictions, both the supply of product to the customers and order-booking should improve from Q2 onwards. Further, the company is exploring new products and geographies to expand so as to further improve its turnover and profitability.”

Published on August 13, 2020

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