Conference Call with Triveni Turbine Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Heavy Electrical Equipment company Triveni Turbine announced Q2FY25 results Highest ever quarterly Revenue and EBITDA along with a record Closing Order Book providing good visibility for the near-term. Highest ever quarterly Revenue for Q2FY25 at Rs 5.01 billion, an increase of 29% YoY. Highest ever quarterly EBITDA at Rs 1.31 billion, up 47% YoY, with a margin of 26.1% which increased ~320 bps YoY. PAT for the quarter at Rs 910 million, an increase of 42% YoY. Healthy quarterly order booking of Rs 5.72 billion during Q2FY25, which grew 25% YoY. Record outstanding carry forward order book as on Q2FY25 of Rs 17.96 billion, an increase of 22% YoY. Investments including Cash at Rs 10.64 billion, an increase of 21% from March 31, 2024. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine, said: “In the quarter and half year ending September 30, Triveni Turbines has reported yet another strong set of results across all key metrics of revenues, profitability and order booking. Revenues for H1FY24 grew 26%, with improved margins leading to higher Profit Before Tax (PBT) growth of 43% and Profit After Tax growth of 37%, over the previous corresponding period. In Q2FY25, order booking grew 25% YoY to Rs 5.72 billion driven by export order booking which increased 50% YoY to Rs 3.04 billion. Product order booking increased by 30% YoY to reach Rs 3.98 billion. Key drivers of growth in product order booking were finalization of orders by industrial customers for biomass-based process cogeneration along with API turbines. The Aftermarket business has been expanding its horizons through a wider array of customer solutions going beyond industrial steam turbines to other rotating equipment, while expanding its global footprint. During Q2FY25, we received breakthrough Aftermarket orders from a diverse set of customers which led to the highest ever quarterly order booking of Rs 1.74 billion, growing by 13% when compared with the corresponding period of previous year. The Aftermarket business also registered the highest ever turnover of Rs 1.65 billion during the quarter, which grew 38% yo-y. The segment contributed to a healthy 33% of the total turnover in Q2FY25, as compared to 31% in previous corresponding period. In response to the growing demand for higher efficiencies and sustainable power generation, the Company is actively pursuing a robust R&D; program aimed at advancing its product portfolio through digitization, and the development of innovative solutions aligned with energy transition and sustainability goals. We are deeply committed to integrating digital technologies that enhance operational efficiency, streamline production processes, and enable data-driven insights to optimize our offerings. These digital advancements not only help strengthen our market reach but also enable us to deliver personalized, customer-centric solutions that meet the evolving needs of our clients Our strategy is equally focused on fostering a people-centric culture, recognizing that our team’s skills and expertise are pivotal to driving innovation and sustaining growth. We invest in continuous training and capacity-building initiatives that empower our workforce and expand our collective capabilities, ensuring that we are well-equipped to navigate the rapidly changing market landscape. Furthermore, we maintain a competitive edge through global collaborations with leading experts, renowned universities, and design houses, leveraging these partnerships to amplify our research efforts and fuel sustainable, long-term growth for all stakeholders.” Result PDF