Triveni Turbine Limited has informed the Exchange about Investor Presentation
7 ·
PIVEnI TURBINES
8" Floor, Express Trade Towers, 15-16, Sector-16A, Noida - 201301, U.P.,
TRIVENI TURBINE LIMITED CORPORATE OFFICE India T: +91 120 4308000 I F : +91 120 4311010-11 www .triveniturbines.com
Date: August I, 2022
BSE Ltd. e-mail- corp.relations@bseindia.com Thru: BSE Listing Centre
National Stock Exchange of India Ltd., e-mail cmlist@nse.co.in Thru: NEAPS
STOCK CODE: 533655
STOCK CODE: TRITURBINE
Dear Sirs,
Subject: Investors' brief for Ql & 3M FY2023
We send herewith a copy of Investors' brief on the performance of the Company for the first quarter and three months ended June 30, 2022 for your information. The same is also available on the web site of the Company i.e. www.triveniturbines.com.
Thanking You,
For Triveni Turbine Limited
Rajiv Sawhney Company Secretary Membership No A 8047
Encl: As above
Regd Office: A-44, Hosiery Complex, Phase-II Extn., Noida - 201 305 (U.P.)
CIN: L29110UP1995PLC041834
Registered office: A-44, Hosiery Complex, Phase-II, NOIDA 201 305, Uttar Pradesh Corporate office: Express Trade Towers, 8th floor, Plot No.- 15-16, Sector 16A, Noida 201301 Manufacturing Facility: 12A, Peenya Industrial Area, Peenya, Bengaluru 560 058
CIN : L29110UP1995PLC041834
Key Highlights*:
➢ Revenue from Operations for Q1 FY 23 at ₹ 2.59 billion, an increase of 40.7% y-o-y
➢ EBITDA for the quarter at ₹ 561 million, up 35.8% y-o-y, with a margin of 21.7%
➢ PAT for the quarter at ₹ 383 million, an increase of 37.8% y-o-y
➢ Highest ever quarterly order booking of ₹ 3.6 billion during Q1 FY 23
➢ Record outstanding carry forward order book as on June 30, 2022 of ₹ 10.7 billion
* For 1Q FY 23 consolidated results include the impact of business combination of Triveni Energy Solutions Limited (TESL)
(Formerly known as GE Triveni Limited, and a joint venture earlier) as a wholly-owned subsidiary from September 6,
2021 i.e. date of acquisition of TESL and TSE Engineering (Pty.) Ltd (TSE) as a subsidiary from 1st March 2022 i.e. date
of acquisition of TSE
NOIDA, August 1, 2022: Triveni Turbine Limited (TTL) a focused and growing
corporation having core competency in the area of steam turbines manufacturing up to
100 MW size; a market leader in industrial steam turbines up to 30 MW in India and also
among the leading manufacturers of industrial steam turbines in >5 to 30 MW range
globally*, today announced the performance for the first quarter ended June 30, 2022
(Q1 FY 23).
Source: *McCoy Reports
PERFORMANCE OVERVIEW (Consolidated):
Apr 2022 – Jun 2022 v/s Apr 2021 - Jun 2021 (Q1 FY 23 v/s Q1 FY 22)
• Revenue from Operations at ₹ 2.59 billion in Q1 FY 23 as against ₹ 1.84 billion in
Q1 FY 22, an increase of 40.7%.
• EBITDA of ₹ 561 million in Q1 FY 23 as against ₹ 413 million in Q1 FY 22, an increase
of 35.8%
• EBITDA margin of 21.7% in Q1 FY 23 as against 22.4% in Q1 FY 22, a margin
compression of ~70 bps
• Profit before Tax (PBT) before exceptional items at ₹ 508 million in Q1 FY 23 as
against ₹ 365 million in Q1 FY 22, an increase of 39.1%
• Profit after tax (PAT) at ₹ 383 million in Q1 FY 23 as against ₹ 278 million in Q1 FY
22, an increase of 37.8%
• EPS for Q1 FY 23 at ₹ 1.18 per share
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Commenting on the Company’s financial performance and recent developments, Mr.
Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said:
“Continuing on the successes from last year, the Company has started FY 23 on a
positive note. During the quarter, we have reported yet another record order
booking in a single quarter of ₹ 3.6 billion, which will boost our performance in the
year.
Despite the global turmoil, we see a multitude of opportunities of growth for the
Company. From efficiency enhancement to approaching new geographies and
sectors, we are engaging closely with customers to deliver products and solutions
that meet their evolving needs.
In the last year, the Company has embarked upon an all-round capacity expansion
which spans from infrastructure to resources and capabilities. On the infrastructure
side, as previously announced, the addition of a new bay in our Sompura plant is
well underway. This will augment the space for assembly and testing of steam
turbines at the factory. We expect this to complete in Q2 FY 23 and post the
expansion, the Company’s capacity will be enhanced from 150-180 machines to 200-
250 machines per annum. Some of the sub-assemblies are also additionally
outsourced to competent subcontractors to free up in-house capacity on value-
added, core activities. With the independent foray into the 30.1-100 MW segment,
the Company is focusing on adding competencies across teams both in India and in
the international market.
Within a short span of time of augmenting our capacity in the South African
Development Community (SADC) region, the Company has bagged a significant
services contract for large steam turbines in this region as part of our aftermarket
business. This is new and different from what we have conventionally been offering
in various markets. It is a business capable of driving large top line growth in the
services sub-segment. And the Company is exploring this new revenue stream to
build capabilities to create a new niche and develop proficiency in a new segment
of large utility steam turbines which could lead to greater service along with spares
and refurbishment offerings internationally in future. This contract will help us
establish Triveni REFURB brand, the Refurbishment business of TTL, in the Utility
turbines space and create a reference for more lucrative contracts for turbines up
to 900 MW and automatically qualify us for contracts in this and other geographies.
2
The Company has made further inroads in the domestic and international API
markets. This includes energy efficient drive turbines with single stage and multi-
stage designs. Triveni’s in-house facilities and expertise for carrying out stringent
API tests, such as unbalanced rotor response tests and steam run tests including
load tests, are instrumental in steering its expansion in the stringent hydrocarbon
markets.
Coming to the other highlights of the quarter, in Q1 FY 23, the Company’s enquiry
pipeline remains healthy. International enquiry generation increased by 22% YoY
with enquiries from Central and South America, Turkey, North America, Southeast
Asia and Europe. Among industry segments, IPP segment led to the higher enquiry
base followed by Process industries. With this healthy enquiry pipeline coupled with
outlook for order booking, the Company is well poised to leverage the opportunities
in the coming years.”
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Q1 FY 23: PERFORMANCE REVIEW
Triveni Turbine Limited (TTL) is a focused and growing corporation having core
competency in the area of steam turbines manufacturing up to 100 MW size; a market
leader in industrial steam turbines up to 30 MW in India and also among the leading
manufacturers of industrial steam turbines in >5 to 30 MW range globally. 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.
The consolidated result of the Company includes the results of fully owned subsidiaries,
Triveni Turbines (Europe) Pvt. Limited (TTE) based in UK with a 100% step down
subsidiary called Triveni Turbines DMCC (TTD), located in Dubai with a 100% step down
subsidiary called Triveni Turbines Africa (Pty) Ltd in South Africa. For Triveni Energy
Solutions Limited (formerly known as GE Triveni Limited), only the share of profits were
considered in the consolidated net profit until September 6, 2021 until which TESL was
a joint venture and thereafter becoming a wholly owned subsidiary of the Company,
TESL has been consolidated on a line-by-line basis in the consolidated results. Further,
in case of TSE Engineering (Pty.) Ltd become a subsidiary of the Company, TSE has
been consolidated on a line-by-line basis in the consolidated results from March 1, 2022.
Performance Summary (Consolidated*)
(All figures in ₹ million, unless otherwise mentioned)
Revenue from Operations EBITDA EBITDA Margin Depreciation & Amortisation PBIT PBIT Margin Finance Cost PBT PBT Margin PBT after share of JV income# Consolidated PAT Consolidated PAT Margin EPS (₹/share)
Q1 FY 23 Q1 FY 22
2,590 561 21.7% 51 510 19.7% 2 508 19.6% 508 383 14.8% 1.18
1,841 413 22.4% 50 363 19.7% 2 361 19.6% 365 278 15.1% 0.86
% Change 40.7% 35.8%
2.0% 40.5%
40.7%
39.1% 37.8%
*Triveni Energy Solutions Limited (formerly known as GE Triveni Limited) became a wholly-owned subsidiary w.e.f. September 6, 2021 and TSE has been consolidated on a line-by-line basis in the consolidated results from March 1, 2022
#Triveni Energy Solutions Limited (formerly known as GE Triveni Limited) ceased to be a joint venture with effect from September 6, 2021 thus Q1 FY 22 results includes share of profits of the JV
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• During the quarter under review, revenue from operations grew by 41% as
compared to previous year, with domestic sales showing an increase of 32% to ₹
1.6 billion while the export turnover increased by 59% to ₹ 966 million, reflecting
both the post-pandemic macro recovery and the Company’s success in international
orders.
• As a result, the mix of domestic and export sales changed to 63:37 in Q1 FY 23 as
compared to 67:33 in Q1 FY 22.
• EBITDA increased by 36% to ₹ 561 million in Q1 FY 23 as against ₹ 413 million in
Q1 FY 22.
• EBITDA margins declined by ~70 bps to 21.7% in Q1 FY 23 as against 22.4% in Q1
FY 22.
• The decline in EBITDA margin in Q1 FY 23 over the last year is largely attributable
to higher raw material costs.
• Profit After Tax grew 38% YoY to ₹ 383 million.
• The Company achieved a total order booking of ₹ 3.6 billion in Q1 FY 23, which is
the highest ever in a quarter in its history, as against ₹ 2.7 billion during Q1 FY 22,
an increase of 31%. Export order booking mainly in the product segment contributed
to this growth.
• During the quarter, the Company has won a significant order of ~₹ 1.0 billion of
which ~₹ 190 million was accounted in the current quarter’s aftermarket order
booking. This was beyond the high-growth planned and budgeting for the year. The
order is for servicing large utility steam turbines in the SADC region. While the
margins for this particular order are of lower magnitude, being a maintenance
contract, we believe this opens up the opportunity for Triveni to garner more
aftermarket business with the customer such as spares, refurbishment, etc. and
generate references for similar future opportunities in the aftermarket space for
utility turbines globally.
• The domestic order booking during the quarter was ₹ 2.5 billion, higher by 26% as
compared to last year.
• The export order booking during the quarter was ₹ 1.1 billion, higher by 44%, as
compared to last year, driven by the substantial increase in international product
orders.
• On the Product side, order booking during the quarter was ₹ 2.6 billion,
which
was higher by 18% when compared with the corresponding period of previous year.
This is the fifth consecutive quarter of the Company clocking over ₹ 2 billion in a
5
quarter in product order booking. The product segment turnover was ₹ 1.9 billion
during the quarter, an increase of 44% over previous year.
• Aftermarket segment registered order booking of ₹ 1.0 billion during the quarter,
growing by 81% when compared with the corresponding period of previous year.
This is the first time that this segment has crossed the ₹ 1 billion mark in a quarter.
The aftermarket turnover was ₹ 677 million during the quarter, a growth of 33%
over previous year.
• Aftermarket contributed to 26% of the total turnover in Q1 FY 23 vs. 28% in Q1 FY
22.
• Total consolidated outstanding order book stood at ₹ 10.7 billion as on Jun 30, 2022
which is higher by 47% when compared to the previous year. The domestic
outstanding order book stood at ₹ 6.3 billion. The export outstanding order book
has grown more than 100% over the corresponding period in the last year and stood
at ₹ 4.4 billion as on Jun 30, 2022.
• Enquiry generation remains strong in domestic and international market which is
likely to support order booking in the coming quarters.
OUTLOOK
Despite the pandemic and war triggered challenges, the growth potential is clearly
significant. The Indian economy is projected to rebound and we see investments
continuing across end-user industries such as Distillery, Oil & Gas, Cement, Steel,
Fertilisers, Textiles, among others.
Reduced operating costs, self-sufficiency, decarbonization and focus on gaining carbon
credits across segments like waste-to-energy, biomass, steel, etc. are some of the key
factors driving demand for steam turbines. Further, the demand for high-efficiency
steam turbines has gone up at the back of growing importance of efficiency of power
generation. With our portfolio of efficient reaction type products from 3 MW to 100 MW,
we are well placed to meet this growing demand.
We continue to invest in future technologies to innovate products relevant to
contemporary needs and compatible with future requirements. The large-scale transition
of industries globally, from fossil fuels to green energy, has catalyzed a shift in business
priorities. We at Triveni Turbine, have reoriented our business approach and our
Research & Development (R&D) programmes towards the creation of a more sustainable
future in areas, which are considered high-impact macro trends that will be fully
integrated into the Company’s operational matrix.
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Given our strong carry forward order book at the end of Q1 FY 23, we believe that the
Company is geared to push its growth levels further. Our foray into new segments, such
as energy-efficient API turbines for Oil & Gas industry and turbines between 30.1-100
MW, will help widen the net of our addressable market. We are well equipped to expand
fast into these new emerging markets, even as we continue to push the frontiers of
growth in our existing markets.
Summary of Consolidated Order book
(All figures in ₹ million, unless otherwise mentioned)
Particulars Opening Order Book Domestic Exports TOTAL Mix of Exports Product After market Total Mix of After market Order booking Domestic Exports TOTAL Mix of Exports Product After market Total Mix of After market Sales Domestic Exports TOTAL Mix of Exports Product After market Total Mix of After market Closing Order book Domestic Exports TOTAL Mix of Exports Product After market Total Mix of After market
Q1 FY 23 5,383 4,320 9,703 45% 8,181 1,522 9,703 16%
Consolidated Q1 FY 22 4,486 1,903 6,389 30% 5,057 1,332 6,389 21%
2,521 1,058 3,580 30% 2,564 1,016 3,580 28%
1,625 966 2,590 37% 1,914 677 2,590 26%
6,280 4,412 10,692 41% 8,831 1,861 10,692 17%
1,997 734 2,731 27% 2,170 561 2,731 21%
1,232 608 1,841 33% 1,333 507 1,841 28%
5,251 2,029 7,280 28% 5,894 1,386 7,280 19%
% Var 20% 127% 52%
62% 14% 52%
26% 44% 31%
18% 81% 31%
32% 59% 41%
44% 33% 41%
20% 117% 47%
50% 34% 47%
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About Triveni Turbine Limited
Triveni Turbine Limited (TTL) is a focused and growing corporation having core competency in
the area of industrial steam turbines designing and manufacturing up to 100 MW size. The
Company is a market leader in industrial steam turbines up to 30 MW in India and also among
the leading manufacturers of industrial steam turbines in >5 to 30 MW range 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 5000+ steam turbines across over 20 industries, Triveni
Turbines is present in over 75 countries around the world. It was demerged from its parent
Company, Triveni Engineering and Industries Limited which holds 21.85% equity capital of TTL,
in 2010 to emerge as a pure-play turbine manufacturer.
Triveni Turbine Limited offers steam turbine solutions for Industrial Captive and Renewable
Power. The Company provides renewable power solutions specifically for Biomass, Independent
Power Producers, Process Co-generation, Waste-to-Energy, Waste Heat Recovery and District
Heating. Its steam turbines are used in diverse industries, ranging from Sugar, Distilleries, Steel,
Cement, Textiles, Chemicals, Oil & Gas, Pulp & Paper, Petrochemicals, Fertilisers, Solvent
Extraction, Metals, Palm Oil to Food Processing and more. Apart from manufacturing, the
Company also provides a wide range of aftermarket services to its own fleet of turbines as well
as turbines and other rotating equipments such as compressors, rotors, etc. of other makes
supported by its team of highly experienced and qualified service engineers.
Triveni Turbines’ market leadership has been built on a foundation of strong and continuously
evolving research, development and engineering capabilities. The customer centric approach to
R&D, along with a keen focus on delivered product and life-cycle cost has allowed Triveni
Turbines to set benchmarks for efficiency, robustness and up-time of the turbine. A strong
internal team, strengthened by collaborative associations with globally leading design and
research institutions, has placed Triveni at the forefront of a technically challenging field
dominated by large multi-nationals.
For
further
information on
the Company,
its products and services please visit
www.triveniturbines.com
Surabhi Chandna Triveni Turbine Limited Ph: +91 120 4308000 Fax: +91 120 4311010, 4311011 E-mail: ir@triveniturbines.com
Gavin Desa / Rishab Brar CDR India Ph: +91 22 66451237/66451235 Fax: +91 22 66451213 E-mail: gavin@cdr-india.com , rishab@cdr-india.com
8
Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Triveni Turbine Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
TRIVENI TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, U.P. - 201 305 Corp. Office : 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 CIN : L29110UP1995PLC041834
Statement of standalone unaudited financial results for quarter ended June 30, 2022
( in lakh s, except per share data)
Particulars
1. Revenue from operations 2. Other income Total Income
3. Expenses
(a) Cost of materials consumed (bl Changes In inventories of finished goods and work-in-progress (c) Employee benefits expense (d) Finance costs (e) Depreciation and amortisation expenses ( Other exoenses
Total expenses
4. Profit from continuing operations before exceptional items and tax 5. Exceptional items (refer note 3) 6. Profit from continuing operations before tax 7. Tax expense: - Current tax - Deferred tax Total tax expense 8, Profit from continuing operations after tax 9. Profit/ (loss) from discontinued operations 10. Tax expense of discontinued operations
1L. Profit/(loss) from discontinued operations /after tax) 12. Profit for the period/year 13. Other comprehensive Income A. (i) Items that will not be reclassified to profit or loss
(ii) Income tax relating to items that will not be reclassified to profit or loss
B. (i) Items that will be reclassified to profit or loss
(ii) Income tax relating to items that will be reclassified to profit or loss
14. Total comorehensive income for the period/year 15. Paid up equity share capital (face value L/-) 16. Other equity 17. Earnings per share of i 1/- each (for continuing and total operations) (not annualised)
(a) Basic (in z) (b) Diluted (in )
See accompanymg notes lo the standalone financial results
Quarter ended
March3 1, 2022 Audited
June 30, 2022 Unaudited 24,455 683 25,138
June 30, 2021 Unaudited 18,223 544 18,767
22,594 622 23,216
14,558 (1,539) 2,455 40 506 3,556 19,576
3,640 . 3,640
992 (33)
959 2,681 - . - 2,681
(37) 9 (3) 1 (30 2,651 3,233
14,355 (180) 2,503 23 470 3,685 20,856
4,282 . 4,282
l,086 8 1,094
3,188 . . . 3,188 .
. (416) 105 (311 2,877 3,233
Year ended
March 31, 2022
Audited
81,137 2,649 83,786
44,397 596 9,158 79 2,002 12,471 68,703
15,083 18,890 33,973
9,103 (80) 9,023 24,950 - . . 24,950
(37) 9 90 (22) 40 24,990 3,233 73,886
7.72 7.72
7,724 2,126 2,165 21 495 2,825 15,356
3,411
3,411
881 (4) 877
2,534 - - - 2,534
. - (48) 12 (36) 2,498 3,233
0.99 0.99
0.83 0.83
0.78 0.78
TRIVENI TURBINE LIMITED
Notes to the standalone unaudited financial results for the quarter ended June 30, 2022
1. The Company primarily operates in a single reportable segment - Power Generating Equipment and Solutions.
2. The figures for the quarter ended March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year lo date figures upto third quarter of the relevant financial year. Also the figures upto the end of the third quarter were only reviewed and not subjected to audit.
3. Exceptional
shO\Vll
items as
in comparative period for
18,890 lakhs (net of associated expense of
represents settlement 1,910 lakh s) received by the Comp any from DI consideration of Netherlands BV (DD), the erstwhile joint venture partner in the T'riven i Energy Solutions Limited (TESL) (formerly known as GE Triveni Limited) in accordance with the Settlement Agreement between the Company and General Electric Company and its affiliates including DI, to fully and finally settle and resolve and withdraw all ongoing disputes, litigations and arbitrations from various legal forum.
the year ended March 31, 2022,
4. The above unaudited standalone financial results of the Company for the quarter ended June 30, 2022 have been reviewed and recommended for adoption by the Audit Committee at their meeting held on July 31, 2022 and approved by the Board of Directors of the Company at their meetings held on August 1, 2022. The Statutory Auditors have carried out limited review of the above financial results.
5, Previo us period/year figures have been re-grouped/ reclassified wherever necessary,
to match current period
classification
Place : Bengaluru
Date : August 1, 2022
For Triveni Turbine Limited
Dhruv M. Sawhn ey Chairman & Managing Director
TRIVENI TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, U.P. - 201 305 Corp. Office : 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 CIN : L29110UP1995PLC041834 Statement of consolidated unaudited financial results for the quarter ended June 30, 2022
Particulars
1. Revenue from operations 2. Other income Total income 3. Expenses
(a) Cost of materials consumed (b) Changes in inventories of finished goods and work-in-progress (c) Employee benefits expense (d) Finance costs (e) Depreciation and amortisation expense (D) Other expenses
Total expenses
4. Profit from continuing operations before share of profit/ (loss) from a joint venture, exceptional items and tax 5. Share of profit/(loss) ofjoint venture [refer note 4] 6. Profit from continuing operations before exceptional items and tax 7. Exceptional items (refer note 3 and 4) 8, Profit from continuing operations before tax 9. Tax expense:
• Current lax - Deferred tax Total tax expense
10. Pofit from continuing operations after tax 11. Profit/(loss) from discontinued operations 12. Tax expense ofdiscontinued operations 13. Profit/(loss) from discontinued operations (after tax) 14. Profit for the period/vear
Profit for the period attrib uta ble to: - Owners of the parent • Non-controlling interest 15. Othercomprehensive income A. (i) Items that will not be reclassified to profit or loss (refer note 4]
(ii) Income tax relating to items that will not be reclassified to profit or loss
B. (i) Items U,at will be reclassified lo profit or loss
(ii) Income tax relating to items that will be reclassified lo profit or loss
Othercomprehensive income attributable to: • Owners of the parent - Non-controlling interest
16. Total comprehensive income for the period/year
Total comprehensive income attributable to; • Owners of the parent - Non-controlling interest
17. Paid up equity share capital (face value1/-) 18. Otherequity 19. Earnings per share oft 1/· each (for continuing and total operations) (not annualised)
(a) Basic (in ) (b) Diluted (in )
See accompanying notes to the consolidated financial results
Quarterended
( in lakhs, except per share <lata) Y'ear ended Jane 30, March 31,
March 31, 2022 Audlled
2021 Unaudited 18,406 555 18,961
7,915 2,077 2,351 21 498 2,487 15,349
3,612
39 3,651
3,651
881 (5) 876 2,775 - . . 2,775
2,775 .
. . (15) 12 (3)
(3)
.
23,657 775 24,432
15,000 (1,881) 2,899 so 512 3,447 20,027
4,405 - 4,405 . 4,405
1,115 (12) 1,103 3,302 - . - 3,302
3,301 1
(37) 9 (5) 1 (32)
(23) (9)
3,270
2,772
3,278 (8)
3,233
2,772 .
3,233
2022 Audited
85,224 2,949 88,173
43,299 3,728 10,293 102 2,028 11,639 71,089
17,084
(424) 16,660 19,819 36,479
9,915 (456) 9,459 27,020 . - . 27,020
27,019 l
1,870 9 127 {22) 1,984
1,993 (9)
29,004
29,012 (Bl
3,233 82,424
June 30, 2022 Unaudited 25,904 745 26,649
14,565 186 2,906 24 513 3,380 21,574
5,075 - 5,075 . 5,075
1,229 13 1,242 3,833 - . - 3,833
3,825 8
. - (265) 105 (160)
(143) (17]
3,673
3,683 (10)
3,233
1.18 1.18
1.02 1.02
0.86 0.86
8.36 8.36
TRIVENI TURBINE LIMITED
Notes to the consolidated unaudited financial results for the quarter ended June 30, 2022 1. The Company and its subsidiaries (together referred to as the 'Group') primarily operate in a single reportable segment
Power Generating Equipment Md Solutions.
2. The figures for the quarter ended March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to dote figures upto third quarter of the financial year. Also the figures upto the end of the third quarter were only reviewed and not subjected to audit.
3. Exceptional items as shown in comparative period for the year ended March 31, 2022, represents sum of settlement consideration received of 19,258 lakhs (net of associated expense of 1,542 lakhs) and gain on previously held interest 561 lakhs accounted in in Triveni Energy Solutions Limited (TESL) (formerly known as GE Triveni Limited) of accordance with Ind AS 103. Such consideration was received by the Company from DI Netherlands BV (DI) , the erstwhile joint venture partner in TESL in accordance with the Settlement Agreement between the Company and General to fully and finally settle and resolve and withdraw all ongoing Electric Comp any and its affiliates including DI, disputes, litigations and arbitrations from various legal forum. Refer note 4 for further details.
4.
TESL was a joint venture till September 6, 2021, the remaining shares were acquired by the Company on aforesaid date. The Company had recognised its share of loss in TESL of 424 lakhs during the previous year ended March 31, 2022. This acquisition in TESL had been accounted by the Group as Business combination according to Ind AS 103 and recognised bargain purchase gain of 1,907 lakhs in capital reserve through Other Comprehensive Income and gain on previously held interest in TESL amounting to z 561 lakhs in profit and loss as exceptional item in the previous year ended March 31, 2022.
5. The unaudited standalo ne results of the Company are available on the Company's website (www.triveniturbines.com\ website of BSE (www.bsein dia.com) and NSE (wwyy.nsein dia.com). Summarised standalo ne fin ancial performance of the Parent Company is as under :
Particulars
Revenue from operations
Profit before tax Net profit after lax Total comprehensive income
Quarter ended
June 30, 2022 March 31, 2022 June 30, 2021
Unaudited
Audited
Unaudited
24,455 4,282 3,188 2,877
22,594
3,640
2,681 2,651
18,223 3,411 2,534 2,498
(in lakhs)
Year ended March 31, 2022 Audited
81,137 33,973
24,950 24,990
6, The above unaudited consolidated financial results of the Company for the quarter ended June 30, 2022 have been reviewed and recommended for adoption by the Audit Committee at their meeting held on July 31, 2022 and approved by the Board of Directors of U1e Company at their meetings held on August 1, 2022. The Statutory Auditors have carried out limited review of the above financial results.
7. Previous perio d/year
figures have been re-grouped/ reclassifit!d wherever necessary,
to match current period .
Place : Bengaluru Date : August 1, 2022
For Triveni Turbin e Limi ted
PS-a.Dhruv M. Sawhn ey
Chairman &r Managing Director