Triveni Turbine Limited Announced The Highest Ever Quarterly Revenue For Q3 FY 25 At ₹ 5.03 Billion

(MENAFN- ForPressRelease) Noida, January 31, 2025: Triveni Turbine Limited (TTL) a focused, growing and market- leading corporation having core competency in the area of industrial heat & power solutions and decentralized steam-based renewable turbines up to 100 MW size; today announced the performance for the third quarter and nine months ended December 31, 2024 (Q3 / 9M FY 25).

Commenting on the Company's financial performance and recent developments, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said: "We are pleased that the Company has continued its strong growth momentum during the quarter under review, with highest ever turnover and EBITDA. On a nine-month basis as well, the Company has set new records in key metrics of revenues, profitability and order booking. Revenues in 9M FY 25 grew 23% over the previous corresponding period to reach record level of ₹ 14.68 billion. Profit Before Tax (PBT) during 9M FY 25 grew faster at 39% y-o-y and stood at ₹ 3.56 billion with strong margins of 24.3%. Earnings per share grew an impressive 36% to ₹ 8.29 at the nine-month mark. Order booking during 9M FY 25 grew 20% to reach ₹ 17.35 billion, with strong export contribution of 62% thus providing good visibility for both revenues and profitability for the next year.

In Q3 FY 25, turnover for the Aftermarket segment was a record ₹1.8 billion, up 22% on a y-o-y basis. The segment contributed to a healthy 35% of the total turnover in Q3 FY 25. Product segment turnover of ₹ 3.3 billion in Q3 FY 25 also registered a healthy increase of 14% over corresponding period of previous year.

While order booking from India remained subdued in the quarter, the Company continues to see good international demand which is reflected in export order booking which grew 9% y-o-y to ₹3.46 billion during the quarter. This includes repeat orders as well as orders from new geographies which allow the Company to generate local references to strengthen its credentials for future tenders. Order booking continues to reflect good demand from the renewable space particularly from the Waste to Energy (WtE) segment, biomass-based energy generation.

Our enquiry pipelines remain healthy, with domestic enquiries in particular registering a strong growth during the quarter, suggesting that a rebound in domestic order booking could be underway. On the international front, the Company is well placed in sizeable orders across multiple segments which provides confidence for future order bookings and sustaining a healthy growth momentum.

Triveni Turbines has been championing the energy transition efforts through new technology development, particularly focusing on developing Carbon Dioxide (CO2) based solutions. We are pleased to report that in January 2025, the Company has received a Notice of Award (NoA) to setup a 160 MWh (mega-watt-hour) long duration energy storage (LDES) system at NTPC's Kudgi Supercritical Thermal Power Plant (STPP) premises. The greenfield development will be undertaken by Triveni Turbines for a consideration of approx. ₹ 2.9 billion. The scope of work involves design, engineering, fabrication, erection, commissioning and testing for setting up this CO2 cycle-based Energy Storage System (ESS). In this LDES, CO2 gas undergoes thermodynamic transformation in a closed loop to store energy. This system enables storage and dispatch of variable renewable power to stabilize the grid.

This development showcases the collaborative efforts of the Company prioritising local innovation and manufacturing to support this initiative. While an engineered-to-order sub-critical CO2 turbine used to power this ESS is indigenously developed and manufactured by Triveni Turbines, other storage system components will also be largely manufactured and sourced from India."


About Triveni Turbine Limited

Triveni Turbine Limited (TTL) is a focused, growing and market-leading corporation having core competency in the area of industrial heat & power solutions and decentralized steam-based renewable turbines up to 100 MW size. The Company is amongst the leading manufacturers of industrial steam turbines both in India and globally. The Company delivers robust, reliable and efficient end-to-end solutions. The Company's ability to provide high- tech precision engineered-to-order solutions has made it one of the most trusted names within the sector.

Triveni Turbines manufactures steam turbines at its world-class manufacturing facilities in Bengaluru, India and assists its customers with their aftermarket requirement through its global servicing offices. With installations of 6000+ steam turbines across over 20 industries, Triveni Turbines is present in over 80 countries around the world. It was demerged from its parent Company, Triveni Engineering and Industries Limited (TEIL) in 2010. TEIL held 21.85% equity capital of TTL since the demerger until 2022. On September 21, 2022 TEIL fully divested its stake in TTL.

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