Triveni Turbine Ltd. share price target

Triveni Turbine’s (TRIV) 1QFY27 performance was significantly below our estimates due to a lower-than-expected margin performance. EBITDA margin was impacted by delays in export shipments and low-to-zero margins in a strategic NTPC order for CO2-based energy storage.

backlog and expanding global presence. Its manufacturing facilities in the USA and South Africa strengthen its ability to capitalize on international opportunities. While evolving geopolitical conditions may create near-term execution challenges, the long-term outlook...

Management expect FY27 revenue growth to be back ended like FY26 due to order book profile Margins were lower during the quarter due to a segment mix with lower aftermarket sales (spares) and the execution of a strategic lower-margin NTPC project....

Our recent interaction with Triveni Turbine (TRIV) focused on growth opportunities across domestic and international markets.

Margins were lower during the quarter due to lower aftermarket revenue and higher execution of NTPC orders with lower margins. Triveni Turbine (TRIV) reported a healthy quarter with revenue growth of 24.0% YoY, while EBITDA margin contracted by 22bps YoY to 21.5%. The management remains positive on the high-margin refurbishment business, despite dispatch-related delays during the quarter that weighed on aftermarket sales. The domestic business continues to see healthy demand, while the international enquiry pipeline for process co-generation applications...

Triveni Turbine (TRIV)’s 3QFY26 result reflected a beat on revenue, fueled by higher export execution, while PAT was in line. Domestic inquiries are improving with new products, too, gaining traction in terms of inquiries.

Triveni Turbine’s (TRIV) 2QFY26 PAT beat our estimate on better-than-expected margins. Domestic order inflows have started improving and enquiry levels too have remained broad-based.

Triveni Turbines Ltd had a moderate Q1FY26, due to geopolitical tensions and tariff escalations, but the long-term prospects remain robust with major recovery from H2FY26.

Triveni Turbine (TRIV)’s 1QFY26 result was significantly lower than our expectations due to deferred dispatches and order execution. Geopolitical issues resulted in delayed customer decision-making regarding dispatches.

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...

Consolidated revenues fell 20% y-o-y to Rs. 371 crore as dispatches were delayed by geopolitical tensions across India, Iran and Israel.

Author: Antu Eapan Thomas - Sr. Research Analyst prompting a downward revision of our revenue estimates for FY26E/FY27E by 3%. However, we value the stock at a P/E of 40x on FY27E EPS and maintain...

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,...

Consolidated revenues grew 18% y-o-y to Rs. 538 crore, led by strong growth of 27% y-o-y in export sales to Rs. 280 crore. Products segment reported revenues of Rs. 393 crore (up 25% y-o-y) and the aftermarket segment of Rs. 144 crore flat y-o-y.

Triveni Turbine (TRIV)’s 4QFY25 results came in line with our expectations. For FY25, domestic order inflows were up 29% YoY, boosted by one-time large order inflow worth INR2.9b.

Triveni Turbine (TRIV)’s 3QFY25 results came in line with our expectations on all parameters. The company reported revenue/EBITDA/PAT growth of 17%/31%/35% YoY in 3QFY25.