On Friday, the shares of the leading manufacturer of industrial steam turbines surged by 8%, hitting a 52-week high of ₹653.60 per share, following the announcement of robust Q4 results showcasing a 38% year-on-year increase in net profit.
At 12:45 p.m., Triveni Turbine Ltd shares were trading at ₹633 per share, up 4.62% on the Stock Exchange from the previous close price. The company has a market capitalization of ₹20,121 crore.
Triveni Turbine reported robust financial performance, with a consolidated net profit of ₹76 crores in Q4FY24, reflecting a notable 38% increase from the previous year’s corresponding quarter. This growth was supported by a surge in total revenue for the same quarter, which reached ₹458 crores, marking an 24% rise compared to the previous year.
For the fiscal year 2023-24, the company’s consolidated net profit stood at ₹269 crore, showing a substantial 40% increase from the preceding fiscal year. Similarly, the total revenue for the fiscal year witnessed a 32% growth, totaling ₹1,653 crores.
The company reported an EBITDA of ₹3.81 billion for the fiscal year, marking a 38% year-on-year increase, with a margin of 23%, up approximately 80 basis points year-on-year. Meanwhile, the annual order booking for FY 24 reached ₹18.78 billion, reflecting a 17% year-on-year growth.
The Board of Directors has proposed a final dividend payout of 130% (₹1.30 per equity share of each) for the financial year 2023-24, pending approval from shareholders.
In Q4 FY 24, the company’s order booking reached ₹4.35 billion, showing a 7% decrease from ₹4.66 billion in Q4 FY 23. This decline was primarily influenced by a decrease in domestic order booking, which amounted to ₹1.76 billion in Q4 FY 24.
However, the company experienced a notable 29% year-on-year increase in export order booking during the quarter, reaching ₹2.59 billion.
Triveni Turbines is a leading entity in the manufacturing and distribution of power generation equipment and solutions. Specializing in industrial steam turbines ranging from 1-100 MW capacities, the company is renowned for its efficiency and state-of-the-art technology, particularly in the sub-30 MW range.
Triveni Turbines offers a diverse product portfolio catering to various industries such as sugar, cement, chemicals, textiles, and more. Additionally, the company provides aftermarket services for turbines and other rotating equipment.
Written by Omkar Chitnis
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