Triveni Turbine Limited has informed the Exchange about Investor Presentation
REF: TTL: SE: 01/07 BSE Limited P.J. Tower, Dalal Street, Fort, Mumbai - 400 001 Thru: BSE Listing Centre
STOCK CODE: 533655
Dear Sir/Ma’am,
By E-filing
Date: January 31, 2025
National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Thru: NEAPS STOCK CODE: TRITURBINE
Subject: Investors’ Brief and Presentation for the 3rd quarter and 9 Months ended
December 31, 2024
Pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Investors’ Brief and Presentation on the performance of the Company for the 3rd quarter and 9 months ended on December 31, 2024.
The same has also been made available on the website of the Company at www.triveniturbines.com.
You are requested to take this information on record.
Thanking you,
Yours’ faithfully For Triveni Turbine Limited
Pulkit Bhasin Company Secretary M. No. A27686
Encl: A/a
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:
➢ Highest ever quarterly Revenue and EBITDA along with a record Closing Order Book providing
good visibility for the near-term
➢ Highest ever quarterly Revenue for Q3 FY 25 at ₹ 5.03 billion, an increase of 17% y-o-y
➢ Highest ever quarterly EBITDA at ₹ 1.31 billion, up 30% y-o-y, with a margin of 26.1% which
increased ~270 bps y-o-y
➢ PAT for the quarter at ₹ 926 million, an increase of 36% y-o-y
➢ Healthy quarterly order booking of ₹ 5.26 billion during Q3 FY 25
➢ Record outstanding carry forward order book as on December 31, 2024 of ₹ 18.19 billion, an
increase of 15% y-o-y
➢ The Board of Directors of the Company have approved payment of Interim dividend @ 200%
(i.e. ₹ 2 per equity share of ₹ 1/- each) for the financial year ending March 31, 2025
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).
Performance Summary (Consolidated) (All figures in ₹ million, unless otherwise mentioned)
Q3 FY 25
Q3 FY 24 % Change
9M FY 25
9M FY 24 % Change
Revenue from Operations
EBITDA
EBITDA Margin
Depreciation & Amortisation
PBT
PBT Margin
Consolidated PAT
Consolidated PAT Margin
EPS (₹/share)
5,034
1,314
26.1%
65
1,245
24.7%
926
18.4%
2.92
4,317
1,009
23.4%
55
949
22.0%
683
15.8%
2.15
16.6%
30.2%
18.2%
31.2%
35.6%
14,678
11,959
3,774
25.7%
188
3,564
24.3%
2,640
2,741
22.9%
155
2,567
21.5%
1,933
22.7%
37.7%
21.3%
38.8%
36.6%
18.0%
16.2%
35.5%
8.29
6.08
36.4%
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.”
PERFORMANCE REVIEW
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. TTL is among the leading manufacturers of industrial steam turbines globally.
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 equipment such as compressors, rotors, etc. of
other makes supported by its team of highly experienced and qualified service engineers. 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 wholly owned foreign subsidiaries namely
Triveni Turbines (Europe) Pvt. Limited (TTE), based in UK, with a 100% step down subsidiary Triveni
Turbines DMCC (TTD), based in Dubai, with a 100% step down subsidiary Triveni Turbines Africa (Pty)
Ltd (TTAPL), based in South Africa and the newly incorporated wholly owned foreign subsidiary namely
Triveni Turbines Americas Inc. (TTAI) based in the State of Texas, USA. Further, results also includes the
results of TSE Engineering (Pty.) Ltd, (TSE) (70% owned step-down foreign subsidiary) based in South
Africa. The consolidated results also include the results of domestic wholly owned subsidiary namely Triveni
Energy Solutions Limited (TESL) (formerly known as GE Triveni Limited) and the Joint venture Company
namely Triveni Sports Private Limited (TSPL).
Q3 FY 25 Performance Review:
• During the quarter under review, revenue from operations grew by 17% as compared to previous year
to ₹ 5.0 billion, which was the highest ever achieved in a quarter.
• Domestic sales increased by 5% to ₹ 2.5 billion while export sales increased by 31% to ₹ 2.5 billion.
• Export as % of sales increased to 49% in Q3 FY 25 as compared to 44% in the previous year.
• EBITDA increased by 30% to ₹ 1.3 billion in Q3 FY 25 as against ₹ 1.0 billion in Q3 FY 24.
• EBITDA margins increased by ~270 bps to 26.1% in Q3 FY 25 as against 23.4% in the last corresponding
quarter.
• Profit After Tax grew 36% y-o-y to ₹ 926 million during the quarter.
• The Company achieved order booking of ₹ 5.3 billion in Q3 FY 25 which was largely flat on a y-o-y basis.
• Export order booking grew by 9% y-o-y to ₹ 3.5 billion, while domestic order booking declined by 16%
y-o-y to ₹ 1.8 billion.
• Export order booking contributed to 66% of overall order booking in Q3 FY 25, which places the Company
well from a profitability perspective and likely to aid in generating new business enquiries.
• On the Product side, order booking for the segment increased by 6% y-o-y to ₹ 4.0 billion. The product
segment turnover was ₹ 3.3 billion during the quarter, an increase of 14% over previous year.
• Aftermarket segment registered order booking of ₹ 1.3 billion during the quarter, a decline of 17% when
compared with the corresponding period of previous year. Though, the aftermarket turnover was a
record ₹1.8 billion during the quarter, up 22% on a y-o-y basis.
• Aftermarket contribution to turnover was 35% in Q3 FY 25, up from 34% in Q3 FY 24.
• Total consolidated outstanding order book stood at a record ₹ 18.2 billion as on December 31, 2024
which is higher by 15% when compared to the previous year. The domestic outstanding order book
stood at ₹ 6.4 billion, which was lower by 22% as compared to the previous year. The export outstanding
order book stood at a record ₹ 11.8 billion as on December 31, 2024, up 55% y-o-y and contributing to
65% of the closing order book.
9M FY 25 Performance Review:
• 9M FY 25 revenue from operations grew by 23% year-on-year to ₹ 14.7 billion, a record for the Company
at the nine-month mark.
• Domestic sales increased by 20% to ₹ 7.8 billion while the export turnover increased by 25% to ₹6.9
billion.
• In 9M FY 25, the mix of domestic and export sales was 53:47, as compared to 54:46 in the previous
corresponding period.
• EBITDA increased by 38% to ₹ 3.8 billion in 9M FY 25 as against ₹ 2.7 billion in 9M FY 24.
• EBITDA margins increased by ~280 bps to 25.7% in 9M FY 25 as against 22.9% in the last corresponding
period driven by the favourable sales mix.
• Profit After Tax grew 37% y-o-y to ₹ 2.6 billion during the nine-month period.
• The Company achieved robust order booking of ₹ 17.3 billion in 9M FY 25 as against ₹ 14.4 billion during
9M FY 24, an increase of 20%.
• The domestic order booking during 9M FY 25 was ₹ 6.6 billion, a decline of 3% y-o-y
• The export order booking during 9M FY 25 was ₹ 10.7 billion, growing by 41% as compared to last year.
In the nine-month period, export order booking constituted 62% of overall order booking for the
Company.
• On the Product side, order booking for the segment increased by 30% y-o-y to ₹ 12.8 billion, driven by
higher international orders. The product segment turnover was ₹ 9.7 billion during the nine-month
period, an increase of 21% over previous year.
• Aftermarket segment registered order booking of ₹ 4.5 billion during 9M FY 25 which was largely flat on
a year-on-year basis. The aftermarket turnover was at ₹ 5.0 billion during the nine-month period, a
growth of 26% over previous year. Aftermarket contributed to 34% of the total turnover in 9M FY 25,
as compared to 33% in the previous corresponding period.
OUTLOOK
• Expect to maintain robust business performance in the medium-term. This expectation is supported by
a substantial backlog of orders in Renewable, API and IPG (Industrial Power Generation) turbines, along
with successful market expansions.
• The Aftermarket business also shows promising growth prospects, bolstered by an expanding range of
offerings, including spare parts, services and refurbishments, designed to cater to a broader customer
base of rotating equipment encompassing - steam turbines, gas turbines, utility turbines, and geothermal
turbines.
• The Company’s expanding presence in global markets, along with the increasing demand for renewable
energy, energy efficiency, waste-to-energy (WtE), and decentralized power solutions, continues to
present substantial growth opportunities for Triveni Turbines. The Company is confident that leveraging
these opportunities, both domestically and internationally, will enable it to maintain growth and
profitability in the coming years.
Summary of Consolidated Order book
(All figures in ₹ million, unless otherwise mentioned)
Particulars
Q3 FY 25 Q3 FY 24 % Var
9M FY 25 9M FY 24 % Var
Opening Order Book
Domestic
Exports
Total
7,095
10,868
8,410
6,348
17,963
14,758
Mix of Exports
61%
43%
Product
15,128
12,236
After market
2,835
2,522
-16%
71%
22%
24%
12%
7,518
8,007
7,789
5,493
-3%
46%
15,525
13,282
17%
52%
41%
12,709
11,255
2,816
2,027
13%
39%
Total
17,963
14,758
22%
15,525
13,282
17%
Mix of After market
16%
17%
18%
15%
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
1,800
3,464
2,145
3,168
5,264
5,313
66%
3,981
1,283
5,264
24%
60%
3,770
1,543
5,313
29%
-16%
9%
-1%
6%
-17%
-1%
6,643
10,704
6,833
7,599
-3%
41%
17,347
14,432
20%
62%
12,831
4,516
53%
9,901
4,531
30%
0%
17,347
14,432
20%
26%
31%
2,544
2,490
2,418
1,899
5%
31%
7,810
6,868
6,485
5,474
20%
25%
5,034
4,317
17%
14,678
11,959
23%
49%
3,263
1,771
5,034
35%
44%
2,867
1,450
4,317
34%
14%
22%
47%
9,694
4,984
46%
8,017
3,942
21%
26%
17%
14,678
11,959
23%
Domestic
Exports
Total
6,351
11,842
8,137
7,617
18,193
15,754
Mix of Exports
65%
48%
Product
15,845
13,139
After market
2,348
2,615
Total
18,193
15,754
Mix of After market
13%
17%
-22%
55%
15%
21%
-10%
15%
34%
33%
6,351
11,842
8,137
7,617
18,193
15,754
65%
48%
15,845
13,139
2,348
2,615
18,193
15,754
13%
17%
-22%
55%
15%
21%
-10%
15%
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.
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 equipment 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
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.
Imagine. Innovate. Inspire Investor Presentation
Q3 FY 25 January 2025
Contents
Description
Triveni Turbines At A Glance
Market Overview
Company Overview
Financial Performance Highlights
Shareholding Pattern
Investor Relations Contact
Page Number
3
4
10
23
32
34
2
Triveni Turbines at a Glance
Top 2 globally in industrial steam turbines
One of the leading manufacturers of decentralised steam-based renewable turbines globally
50+ years of designing, manufacturing & supplying industrial steam turbines
1000+ Employee Strength, >30% Employee Addition in last two years
Comprehensive solutions’ provider for steam turbines and other rotating equipments
Industrial and Renewable Heat and Power Solutions <100 MW
Innovation-led, reliable, customer- centric products and solutions
Caters to a diverse base of customers across 20+ industries
6000+ global installations in 80+ countries with power generation capacity of 16+GW
3
Market Overview
Global Final Energy Consumption is led by Heating and Cooling Applications
Thermal energy uses, which include space and water heating, space cooling, and industrial process heat, represent more than half (51%) of Global Total Final Energy Consumption
Source: : Renewables 2022 Global Status Report
5
Industry as a Sector has the Highest Contribution in Global Final Energy Demand
Final Energy Demand By Sector (EJ)
80
100
119
122
114
105
24
121
120
31
132
38
142
43
151
45
168
188
205
203
2000
2010
2019
2030 (New Momentum Scenario)
2050 (New Momentum Scenario)
Industry
Feedstocks
Buildings
Transport
Source: : BP Energy Outlook 2023
Industry contributed to ~39% of end global energy demand in 2019
Even in future scenarios, the contribution is expected to remain at similar % levels
6
While Overall Global Steam Turbine Market has been declining over the years…
The global steam turbine market declined from
120 GW in 2013 to 81 GW in 2023
a decline of 4% p.a. yearly during 2013 - 23
Overall Global Steam Turbine Market (in GW)
133
120
109
90
68
60
49
62
55
79
81
3 1 0 2
4 1 0 2
5 1 0 2
6 1 0 2
7 1 0 2
8 1 0 2
9 1 0 2
0 2 0 2
1 2 0 2
2 2 0 2
3 2 0 2
Source: McCoy Report 2023
7
…Triveni Turbines’ Addressable Market is Relatively Stable and Grew 3% y-o-y in 2023
Global Steam Turbine Market, Below 100 MW (in GW)
10.8
8.1
9.2
8.0
5.8
5.9
+3% y-o-y
…while below 100 MW industrial
segment where Triveni Turbines
operates is relatively stable
over a period of 10 years
3 1 0 2
4 1 0 2
5 1 0 2
6 1 0 2
7 1 0 2
8 1 0 2
9 1 0 2
0 2 0 2
1 2 0 2
2 2 0 2
3 2 0 2
Overall Ex-China, Ex-Japan
And in 2023, the below 100 MW market
ex-China, ex-Japan that Triveni
addresses grew 3% y-o-y
Source: McCoy Report 2023
8
Contribution of Thermal Renewable Fuels in <100MW market has also been rising
Global Steam Turbine Market, Below 100 MW (in %), By Fuel Type
In the <100 MW market, where Triveni
operates the growth of thermal renewables
Others
has been consistent and strong.
Thermal Renewables
GT-CC
Fossil
2 2 0 2
3 2 0 2
3 1 0 2
4 1 0 2
5 1 0 2
6 1 0 2
7 1 0 2
8 1 0 2
9 1 0 2
0 2 0 2
1 2 0 2
Source: McCoy Report 2023 GT-CC: Gas Turbine - Combined Cycle
The share of thermal renewable fuels
(Biomass, Waste-to-Energy, Waste Heat
Recovery) is significant at 67% in 2023
compared to 42% in 2013. In contrast, the
share of fossil fuels declined to 15% in 2023
from 36% in 2013.
9
Company Overview
A Differentiated Product Portfolio Catering To Wide Range Of Applications
Renewable Power Generation Applications Independent Power Producers (IPP)
• Biomass
• Waste Heat
• Waste to Energy
Recovery (WHR)
(WtE)
• Geothermal
Other Power Generation Applications
• Combined Cycle Power Plant
Combined Heat & Power Applications Industrial Segments
• Sugar & Distillery
• Food Processing
• Pulp & Paper
• Textile
• Palm Oil
• Cement
• Steel
• Chemicals
• Petrochemicals
• Petroleum Refineries
• Metals
• Agro-processing
Up to 100 MW
Condensing Steam Turbines1
• Straight
• Bleed
• Double Extraction
•
Injection
• Uncontrolled Extraction
• Reheat Axial Turbines
• Controlled Extraction
Back Pressure Steam Turbines
• Straight
• Uncontrolled Extraction
• Controlled Extraction
• Bleed
Energy-efficient American Petroleum Institute (API)
• API steam turbines compliant with international standards
(API 611 - General Purpose and API 612 - Special Purpose)
Drive Applications
• Petroleum Refineries
• Chemicals
• Petrochemicals
• Fertilisers
1 Power generation capacity: Up to 100 MW; Steam Inlet Temperature: Up to 545°C; Steam Inlet Pressure: Up to 140 Bar(a)
11
Providing Sustainable Turbine Solutions for Renewable Energy Space
12
Comprehensive Aftermarket Offerings
Customer Centric Approach
Original Equipment Manufacturer (OEM) Expertise
Shorter Lead Time
24x7 Customer Service
Automation & Efficiency
Quality & Reliability
Preventive Maintenance
LTSA/AMC
Upgradation
High Speed Balancing
Turnkey Solutions
Troubleshooting
LTSA: Long-term Service Agreements AMC: Annual Maintenance Contracts
13
Driving Growth through Refurbishment Solutions
Key Growth Area: Refurbishment
OEM expertise with vast knowledge
of rotating equipment promoting refurbishment growth
Large addressable market globally
Access to newer end-user industries and geographies
Energy efficiency and return-driven metrics driving growth for
refurbishment solutions globally
1
2
3
4
Compliments own product and aftermarket solutions of the
5
Company
14
Our Strategic Priorities
Innovation-led Diversified business
Sustained & Responsible Growth
Customer Centric Products & Solutions
Global Market Significance
People Focus
Increasing Proximity to Customers
15
Our Unique Strengths
10
Our Key Growth Drivers
01
04
07
10
Energy Transition
Customer-Centric Approach
Focus on Sustainability
Expansion into New Markets
02
05
08
11
Increasing Industrial Energy Demand
Innovation & Technological Advancements
Diverse Customer Base and Market Presence
Strong Execution Capabilities
03
06
09
12
Global Market Significance
Engineering Excellence
Refurbishment Solutions
Dynamic and Collaborative Workforce
10
Strong Global Footprint
>80 Countries of Presence
18
Sustainability-led Responsible Growth
Renewable fuel sources driving Product Order Booking
Fuel-agnostic solutions that align with the decarbonization journey
Focused on energy efficiency across products and solutions
New product development and innovation efforts towards long-term sustainable solutions
Rising contribution of thermal renewable fuels in addressable markets
Green Manufacturing Facilities
Sustainable sourcing with focus on local suppliers & MSMEs (Micro, Small & Medium Enterprises)
19
Our Core Principles
Impact
Product Quality
Innovation & Technology
▪ Aims to make a positive impact to
▪ Best-in-class manufacturing at
all our stakeholders
▪ Enhance market share with a
compelling value proposition
▪ Propel sustainable development through our strategic priorities
two-world class facilities at Peenya and Sompura in Bengaluru
▪ Both the plants are certified for AS 9100, ISO 9001, ISO 14001 and ISO 45001 standards for Quality Management, Environmental Management and Safety Management respectively
▪ Consistent R&D of technology to surpass customer needs and keeping up with changing business requirements
▪
Leveraged in-house R&D expertise along with institutional association reputed technical institutes such as IISc, etc.
▪ An organization driven by Intellectual
Property (IP)
20
Our Core Principles
Ethics
Strong Relationships
Sustainability
▪ Professional and transparent
business practices
▪ Strong focus on Environment, Social and Governance (ESG)
▪ Customer centricity with focus on continuous modernisation, with regular upgrades and efficiency improvements
▪ Sustainable solutions that create a
high degree of value for our stakeholders
▪ Strong networks in place to enable
smooth business operations
▪ Supports environment sustainability with significant focus on thermal efficiency improvements
▪
Leadership in all our business lines with sustainability at the core
▪ Enabling Environmentally responsive
operations
21
Continued ESG Focus
Environmental
Social
Governance
▪ Manufacturing Facilities at both Peenya and Sompura are Green Factories
▪
Installation of roof top solar power plant of 1300 KW capacity with net metering facility
▪
In FY24, we have reported:
▪
12% reduction in energy consumption per rupee of turnover
▪ More than 20% reduction in SOx
▪
and NOx emissions 8% reduction in Scope 1 & 2 GHG emissions per rupee of turnover
▪ Educational initiatives such as sponsorship on education and training programmes for differently-abled students
▪ Provided financial support to a non-profit organisation, that focusses on value based leadership development and open dialogue on important issues facing the Indian society, to help its transformation
▪ Board comprises of 9 members which include 5 Non-Executive Independent Directors (including 2 Women Directors), 2 Non-Executive Non-Independent Directors and 2 Executive Directors ▪ Committees of the Board: i. Audit Committee ii. Nomination and Remuneration
Committee
iii.Stakeholders’ Relationship Committee iv.Corporate Social Responsibility
Committee
v. Risk Management Committee
22
Financial Performance Highlights
Strong & Consistent Performance Over the Years
REVENUE
EBITDA and EBITDA Margin
PBT and PBT Margin
• Net Sales CAGR of 19% p.a.
between FY 20 - FY 24
• EBITDA CAGR of 22% p.a. between FY 20 – FY 24
• PBT CAGR of 26% p.a. between FY 20 – FY 24
24
Strong & Consistent Performance Over the Years
PAT and PAT Margin
• PAT CAGR of 22% p.a. between FY 20 – FY 24
Order booking
• Order Booking CAGR of 24% p.a.
between FY 20 – FY 24
25
Focused on Diversification
•
Focused on enhancing our global market position and enhancing contribution of Aftermarket Solutions
26
Enhancing Working Capital Management Efficiency
• Sharp focus on effective management and ongoing monitoring has resulted in sustained improvement in working capital position.
• Focus on high-value engineering alongside remaining asset-light ensures more effective use of assets, contributing to an increase
in asset turnover.
27
Optimising Cashflows and Returns
• Our focus on operational efficiency and effectively managing cash aids sustained high cash flow generation and robust return metrics.
• Our cash position including investments as on March 31, 2024, stood at ₹ 8,831 million giving us enough headroom for investing in
growth initiatives.
28
Q3/9M FY 25: Management Commentary
• 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.
•
The Company had a record closing order book of ₹ 18.19 billion, up 15% year-on-year as
on December 31, 2024.
Mr. Dhruv Sawhney, Chairman & Managing Director Triveni Turbine Limited
• We are also 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.
29
Q3 / 9M FY 25: Sustaining Growth
(₹ in Million)
+17%
4,317
5,034
+23%
14,678
11,959
+30%
+38%
1,009
1,314
2,741
3,774
26.1%
23.4%
25.7%
22.9%
+36%
18.4%
15.8%
926
683
3,000
30%
2,500
25%
2,000
20%
1,500
15%
1,000
10%
+37%
2,640
18.0%
1,933
16.2%
Q3 FY 24 Q3 FY 25
9M FY 24 9M FY 25
Q3 FY 24 Q3 FY 25
9M FY 24 9M FY 25
5% 500
0% -
Q3 FY 24 Q3 FY 25
9M FY 24 9M FY 25
20.0% 19.0% 18.0% 17.0% 16.0% 15.0% 14.0% 13.0% 12.0% 11.0% 10.0%
REVENUE
• Highest ever quarterly revenues
• Aftermarket sales increased by 22% y-o-y to a record ₹ 1.8 billion while product sales increased by 14% y-o-y to ₹3.3 billion in Q3 FY 25
EBITDA and EBITDA Margin
PAT and PAT Margin
• Highest ever quarterly
EBITDA
• EBITDA margins increased by ~270 bps y-o-y to 26.1% in Q3 FY 25
• PAT margins of 18.4%
higher by ~260 bps y-o-y in Q3 FY 25
30
Q3 / 9M FY 25: Robust Order Booking and Record Closing Order Book
(₹ in Million)
-1%
5,313
5,264
+20%
17,347
14,432
+15%
18,193
15,754
Q3 FY 24 Q3 FY 25
9M FY 24 9M FY 25
Q3 / 9M FY 24 Q3 / 9M FY 25
Order Booking
Closing Order Book
• Exports order booking grew 9% y-o-y to ₹ 3.5 billion and contributed to 66% of overall order booking in Q3 FY 25, which places the Company well from a profitability perspective.
• The export outstanding order book stood at a record ₹ 11.8 billion as on December 31, 2024, up 55% y-o-y and contributing to 65% of the closing order book.
31
Shareholding Pattern
Shareholding Pattern
0.75% 3.70% 12.42%
27.28%
1.11% 4.24%
10.47%
28.34%
55.84%
55.84%
31-Dec-23
31-Dec-24
Promoter Group
Foreign Portfolio Investors
Mutual Funds + AIF
Resident Individuals
Others
As on December 31, 2024 Foreign Portfolio Investors (FPI) increased holding y-o-y
Note: Others comprise of Insurance companies, HUF, Corporate Bodies, NRI, LLP, Trusts, IEPF, etc.
33
Investor Relations Contact
Investor Relations Contact
Visit us: www.triveniturbines.com
Surabhi Chandna Investor Relations & Value Creation
ir@triveniturbines.com
+91 - 120 - 4308000
8th Floor, Express Trade Towers Plot No. 15 & 16, Sector 16-A, Noida – 201 301, India.
Some of the statements in this presentation that are not historical facts are forward looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate.
These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.
Further, this presentation may make references to reports and publications available in the public domain.
Triveni Turbine Ltd. makes no representation as to their accuracy or that the company subscribes to those views / findings.
35
Thank You