In morning trading, Triveni Turbine’s stock saw a 3% increase following the company’s announcement of its highest-ever revenue and earnings before interest, tax, depreciation, and amortization (EBITDA) for the July-September quarter of the current fiscal year.
Despite the benchmark Sensex experiencing a 4% rise this year, the stock of this steam turbine manufacturer has made impressive gains of 39%. It is worth noting, however, that the stock is currently trading 23% below its 52-week high, which was reached on September 28, 2023, at Rs 456.
During the September quarter, the company’s revenue saw a remarkable year-on-year increase of 32%, reaching Rs 388 crore, while EBITDA surged by 34% to Rs 88 crore. Triveni Turbine’s profit after tax (PAT) also recorded a substantial growth of 38%, reaching Rs 64 crore.
Dhruv M Sawhney, the Chairman and Managing Director of Triveni Turbines, commented, “Triveni Turbines has reported yet another strong set of results across all key metrics of revenues, profitability, and order booking.”
The company’s strategic focus includes increasing the share of exports to tap into a broader global market and expanding its after-market services portfolio to diversify growth opportunities and enhance profitability due to the more favorable margin profiles of both segments.
With a robust order book, the company secured orders valued at Rs 459 crore during the quarter, marking a YoY increase of 27%. The outstanding carry order book also rose by 30%, amounting to Rs 1,476 crore.
In a previous note, analysts at Centrum anticipated order inflow to grow at an 18% CAGR over FY23-25E, driven by various sectors, including cement, steel, process co-gen, biomass, distilleries (India), renewables, WTE (Europe), biomass, and process co-gen (South East Asia). The brokerage firm added that further expansion in quarterly order inflows would enhance the company’s revenue visibility.
As of 10:23, the stock was trading at Rs 360.40 on the National Stock Exchange, marking a 0.43% increase from the previous close.
