Triveni Turbine Q3 FY25 Result and Concall : Strong Growth & Future Outlook | Updates 2025

Triveni Turbine Q3 Result and Concall – February 2025

Triveni Turbine Q3 Financial Performance

Triveni Turbine Q3 Result: Triveni Turbine Ltd delivered strong Q3 FY25 results with a 17% year-on-year (YoY) revenue growth, reaching ₹5.03 billion.

• Domestic sales increased by 5% to ₹2.5 billion.
• Export sales surged by 31% to ₹2.5 billion, making up 49% of total revenue.
• The company reported its highest-ever quarterly EBITDA of ₹1.31 billion, marking a 30% YoY growth with a margin of 26.1% (up 270 basis points YoY).
• Profit After Tax (PAT) stood at ₹926 million, reflecting a 36% YoY growth.
• In the nine-month period, revenue from operations grew by 23% YoY to ₹14.7 billion.
• Domestic sales rose by 20% to ₹7.8 billion, while export turnover increased by 25% to ₹6.9 billion.

Order Book Update

Triveni Turbine recorded a strong order book in Q3, reinforcing its growth trajectory.

• Quarterly order booking reached ₹5.26 billion, bringing the total carry-forward order book to a record ₹18.19 billion, up 15% YoY.
• Domestic order bookings declined by 3% to ₹6.6 billion.
• Export order bookings grew significantly, rising by 41% to ₹10.7 billion, contributing 62% to total order booking.
• Product order bookings saw a 6% YoY growth in Q3 to ₹4 billion.
• Aftermarket order bookings dropped by 17% YoY to ₹1.3 billion, yet turnover reached a record ₹1.8 billion, up 22% YoY.

New Project Developments

Triveni Turbine secured a significant project in Q3, strengthening its position in energy storage.

• Won a ₹2.9 billion project to set up a 160 mega-watt-hour (MWh) energy storage system at NTPC’s Kudgi Supercritical Thermal Power Plant.
• The project includes design, engineering, fabrication, erection, commissioning, and testing of a CO2-based energy storage system.
• The company continues investing in R&D to develop carbon dioxide-based systems, focusing on supercritical and transcritical products.
• Working on improving steam cycle efficiencies to enhance performance.

Market Insights

Triveni Turbine is witnessing positive growth trends in the international market while facing domestic challenges.

• 75% YoY growth in enquiry pipeline for domestic orders, though actual conversions remain slow.
• Strong demand internationally, especially in renewable energy, waste-to-energy, and biomass-based energy sectors.
• Enquiry generation grew by 59% YoY in Q3, with expectations of higher order finalizations in Q4.

Challenges and Future Outlook

Despite strong demand, the domestic order inflow has been sluggish. However, management remains optimistic.

• Domestic competition has intensified, though Triveni retains a 50% market share.
• Management expects strong performance going forward, driven by a diverse product portfolio and entry into new market segments.
• The company continues investing in digital technology and supply chain enhancements to drive long-term growth.
• Planned capital expenditure (capex) of ₹120-150 crore over the next few years for expansion.

Technological Advancements

Triveni Turbine is focused on continuous innovation and technological improvements to maintain its market leadership.

• Ongoing R&D investments to enhance product offerings and integrate digital solutions.
• Strengthening the supply chain and vendor network to support market expansion.
• Introducing new product developments tailored to emerging market needs.

Overall Sentiment

Triveni Turbine remains confident about future growth, despite facing some domestic market headwinds.

• Management expects sustained revenue growth, driven by international demand and diverse product offerings.
• The company is well-positioned to capitalize on global renewable energy trends.
• Investments in R&D, digitalization, and new product development will play a crucial role in driving future performance.

Triveni Turbine Result and Concall reflect a strong financial position, promising international opportunities, and strategic investments to ensure sustained long-term growth.

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