Triveni Turbines surge over 6% as it achieves highest-ever annual revenue and order booking

Updated: 17 May 2023, 11:46 AM IST

Triveni Turbines saw a rally in its shares during Wednesday's trade as it reported excellent Q4 earnings. The company demonstrated a significant rise in net profit and witnessed increased revenues.

Triveni Turbine Limited is an India-based company, which is primarily engaged in the manufacture and supply of power-generating equipment and solutions.

Shares of Triveni Turbines rallied 6.18 percent on Wednesday, May 17 after the company announced that it has achieved its highest-ever annual revenue, EBITDA, and order booking, as well as a record closing order book in the fourth quarter.

Boosted by increased revenues, the company witnessed a significant 68.5 percent rise in its consolidated net profit, reaching 55.6 crore in the quarter ending March 2023.

During Wednesday’s trade, the stock opened at a price of Rs. 397.25 per share against the previous close of Rs. 384.05 and grew further during the early trading session to touch an intraday high of Rs. 407.80.

It was trading at 391.30, up by 1.89 percent at 11:40 a.m. on the BSE.

The stock touched a 52-week-high of Rs. 422.75 on May 12, 2023 and a 52-week-low of Rs. 146.72 on June 17, 2022, indicating that at the current level, the stock is trading over 166 percent above its 52-week low and just 7.4 percent below its 52 week high.

The stock has grown over 16 percent in the last one month. Moreover, in the past one year, it has increased by nearly 119 percent. Moreover, the stock yielded a positive return of almost 291 percent in the last five years.

Stock price chart of Triveni Turbines

During FY23, Triveni Turbine achieved its highest annual order booking of 16.05 billion, marking a 36 percent year-on-year increase. Furthermore, as of March 31, 2023, the company reported a record outstanding carry forward order book of 13.28 billion, representing a significant 37 percent year-on-year growth.

In March 2023, net sales reached 369.76 crore, representing a substantial increase of 56.3% compared to 236.57 crore in March 2022. Similarly, EBITDA for March 2023 stood at 78.82 crore, showing a significant growth of 58.69% from 49.67 crore in March 2022.

In comparison to the previous year's quarter, the company experienced a notable 56.3 percent increase in its revenues from operations, reaching 369.8 crore, compared to 236.6 crore.

“Our company has delivered yet another record year in FY23, building upon the strong foundation of the previous year. In the year gone by, We achieved highest ever turnover at 12.48 billion, with an impressive growth of 46 per cent over the previous financial year," said CMD Dhruv M Sawhney.

The proportion of exports in the overall turnover has risen to 45 percent in FY23, indicating a significant increase from the previous fiscal year's 30 percent.

Triveni Turbine Limited is an India-based company, which is primarily engaged in the manufacture and supply of power-generating equipment and solutions. The Company has manufacturing facilities at Bengaluru, Karnataka. It also offers comprehensive aftermarket services and operates in higher capacity range of approximately 100 megawatts turbines.

According to a MintGenie poll, an average of 6 analysts have a ‘STRONG BUY’ call on the stock.

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First Published: 17 May 2023, 11:46 AM IST