Triveni Turbine Ltd. share price target

Triveni Turbine Ltd (TTL) is the domestic market leader in steam turbines up to 30 MW. The Company designs and manufactures steam turbines up to 100 MW, and delivers robust, reliable and efficient endto-end solutions. In Q3FY22, the revenue grew by 30% YoY driven by 64% YoY...

Triveni Turbine (TRIV) reported Q3FY22 numbers broadly in line with our estimates led by strong revenue growth in domestic market, while exports were impacted due to travel restriction. Enquiry pipeline continues to grow strong at 23% YoY for domestic market and 68% YoY for export market. Given strong enquiry generation, management is confident of reporting healthy...

Triveni Turbine Ltd (TTL) is the domestic market leader in steam turbines up to 30 MW. The Company designs and manufactures steam turbines up to 100 MW, and delivers robust, reliable and efficient endto-end solutions. In Q2FY22 TTL received an order inflow of Rs 307cr (74% YoY) which is highest in the last four years. The order book grew by 24% YoY supported by 81% YoY increase in H1FY22 order inflow, which adds revenue visibility in coming quarters. TTL and GE agreed to terminate the JV and TTL has acquired the...

last four years) driven by strong growth in both domestic and exports market. Order backlog stands strong at Rs7.3bn (1x TTM revenue). Enquiry pipeline remains robust with domestic/exports enquiry generation growing by 136%/21% YoY. Given strong enquiry pipeline, management is confident of bagging healthy order inflow in FY22 and sectors like cement, steel, distillery,...

Triveni Turbine Ltd (TTL) is the domestic market leader in steam turbines up to 30 MW. The Company designs and manufactures steam turbines up to 100 MW, and delivers robust, reliable and efficient endto-end solutions. Q4FY21 revenue grew by 16% YoY supported by 68% YoY increase in domestic business while export business declined by 17% YoY. Despite a decline in gross margin by 37bps YoY, EBITDA margin improved by 222bps YoY to 13.8% in Q4 led by higher share of after-market revenue and lower employee cost....

Triveni Turbine Ltd (TTL) is the domestic market leader in steam turbines up to 30 MW. The Company designs and manufactures steam turbines up to 100 MW, and delivers robust, reliable and efficient endto-end solutions. Q3FY21 revenue de-grew by 15% YoY due to deferment of deliveries and subdued order bookings. Gross margin improved by 223bps YoY on account of reduction in RM costs while EBITDA margin marginally declined 31bps YoY to 20% due to higher other expenses as a percentage to sales....

witnessed sharp improvement in enquiry levels from some of international Process co-generation mainly distillery and cement, Pharma, F&B;, steel, waste to heat recovery. Given strong enquiry levels both domestic and to pandemic continues and expect revenue decline of 10-15% with margins being in the similar range of 9M (~21-23%) for FY21E. We believe, company's strong margin profile, lean working capital, healthy cash flows (~Rs3bn),...