During Wednesday’s trading session, the shares of one of the leading manufacturers of industrial steam turbines both in India and worldwide surged nearly 4.2 percent to Rs. 618.95 on BSE, after the company announced securing CO2 Battery Project worth Rs. 290 crores from NTPC.
With a market capitalisation of Rs. 19,390.5 crores, at 02:23 p.m., the shares of Triveni Turbine Limited were trading in the green at Rs. 610, up by nearly 2.7 percent, as against its previous closing price of Rs. 593.85.
What’s the News
According to the latest regulatory filings with the stock exchanges, Trive Turbines Limited has secured an order worth Rs. 290 crores from NTPC Limited for a CO2-based standalone Energy Storage System (ESS) of 160 MWh size to be installed at NTPC Kudgi STPP, Karnataka.
The order involves the design, engineering, manufacturing, supply, erection, and commissioning, of the ESS at NTPC Kudgi STPP. The project is scheduled to be executed in 18 months.
NTPC Limited, India’s largest integrated power generation company, has announced the launch of CO2 battery energy storage technology. Triveni Turbines will execute the project on a turnkey basis, in collaboration with its technology partner, Energy Dome.
This project is part of NTPC’s broader strategy to diversify its energy portfolio and increase renewable energy generation within its overall capacity. Additionally, the CO2 Battery aligns with the Government of India’s ‘Make in India’ and ‘Atmanirbhar’ initiatives.
Also read…..
Financials
Triveni Turbine reported a significant growth in the revenue fr operations, experiencing a rise of nearly 29 percent YoY, increasing from Rs. 387.8 crores in Q2 FY24 to Rs. 501 crores in Q2 FY25.
Similarly, during the same period, the company’s net profit increased fr Rs. 64 crores to Rs. 91 crores, representing a growth of around 42 percent YoY.
Further, EBITDA for Q2 FY25 increased to Rs. 131 crores, representing a robust 47.4 percent YoY growth compared to Rs. 89 crores in Q2 FY24. The EBITDA margin improved to 26.1 percent, up from 22.9 percent, over the same period.
Order Book in Q2 FY25
In Q2 FY25, order booking grew 25 percent YoY to Rs. 572 crores as against Rs. 459 crores during Q2 FY24. This growth was primarily driven by a 50 percent YoY rise in export order bookings, which totalled Rs. 304 crores, accounting for 53 percent of the overall order bookings.
As of 30th September 2024, the total consolidated outstanding order book reached a record Rs. 1,796 crores, marking a 22 percent YoY increase.
Product order bookings grew by 30 percent YoY, totalling Rs. 398 crores. Key contributors to this growth were the finalization of orders fr industrial customers for biomass-based process cogeneration and API turbines.
In Q2 FY25, Triveni Turbines secured significant Aftermarket orders fr a wide range of customers, resulting in the highest-ever quarterly order booking of Rs. 174 crores, a 13 percent increase compared to the same period last year.
Stock Performance
The stock has delivered positive returns of nearly 63 percent in one year, as well as around 1 percent returns in the last six months. However, the shares of Triveni Turbine have given negative returns of about 17 percent in the last one month.
About the Company
Triveni Turbine Limited, one of the leading manufacturers of decentralised steam-based renewable turbines globally, is primarily engaged in the business of manufacturing and supplying power-generating equipment and solutions, along with offering steam turbine solutions for Industrial Captive and Renewable Power.
The company manufactures steam turbines at its manufacturing facilities in Bengaluru, Karnataka, and assists its customers with their aftermarket requirements through its global servicing office
With installations of 6000+ steam turbines across over 20 industries, Triveni Turbines is present in over 80 countries around the world.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
