Time to Buy Triveni Engineering:Record date to be announced soon
_TP 90 in 2 months_

1) Holds shares of Triveni Turbine *worth Rs 900 cr vs mktcap of Rs 1420cr*

2) Demerging Sugar &allied business , post which TEIL will have engineering biz and Triveni Industries Ltd (TIL) comprising 7 sugar factories, 105MW power and 160KLPD distillery would be listed. *Shareholders will get one share each of both companies*

3) Q1 PAT 49cr vs Loss of 89cr. Q1 Eps 1.88 vs -3.46

4) *SUGAR BUSINESS*: Unrealised profit of inventory  
as on 30th June is 187cr( only sugar, excluding distillery, power).
*FY17E EBIT 390CR, PBT 290CR, PAT 225CR. EPS 9*
Even if Sugar (TIL) gets PERatio of 8( prevailing industry is 10), TIL (sugar biz) should be Rs 60-62 in 3 months of listing

TEIL (engineering biz) should quote 30-35 in Nov16 ( will also have TTL shares worth Rs 35/ share).
*Triveni Turbine was listed @ 40. Similar rise expected in T Engg after demerger  as water div will have vertical growth and gear div will have bright future due to tie-up with GE*
_Q2 NP to rise 100%+ YoY_