Triveni Engineering & Industries Limited — Important, 04-02-2025: Disclosure of material issue

An arbitral award has been issued in favor of Triveni Engineering & Industries Limited in a dispute with the Punjab Water & Supply and Sewerage Board (PWSSB). The award mandates PWSSB to pay approximately INR 55 crore to Triveni, including interest. The company had claims totaling INR 129 crore, while PWSSB had counterclaims of INR 117 crore. The Tribunal has ruled that PWSSB must release the Performance Bank Guarantee, Security Deposit, and Retention Amount upon contract closure. Notably, PWSSB's counterclaims were rejected entirely. This development is likely to improve Triveni's financial position and may enhance its operational cash flow. Investors should maintain a positive outlook on this outcome, considering the potential for revenue recovery and strengthened relations post-dispute.