We revise our FY26/FY27 EPS estimates by -10.6%/-15.8% accounting for slippage of orders and execution due to geopolitical uncertainties. Triveni Turbine (TRIV) reported a weak quarter, with revenue declining 19.9% YoY and EBITDA margin contracting 81bps YoY to 19.8%. Performance was impacted by geopolitical uncertainties, which led to inspection delays, affecting dispatches, revenue recognition, and export order bookings. Despite a subdued quarter, the management remains optimistic about FY26, supported by a strong increase of ~130% YoY in domestic enquiry pipeline, driven by demand...