We revise our FY26/FY27 EPS estimates by -7.4%/-8.8% accounting for elongation of order finalization and back ended U.S. revenue. Triveni Turbine (TRIV) reported a healthy quarter with revenue growth of 17.5% YoY while EBITDA margin improved by 277bps YoY to 22.4%. Despite muted order booking (ex. CO2 battery storage order) during the quarter, the inquiry pipeline saw a robust growth up 120% domestically and 30% in exports driven by rising demand across key sectors such as steel, cement, and oil & gas, and expanding presence in international markets including the Middle East, Europe,...