Triveni Turbine Limited has informed the Exchange about Investor Presentation
.
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l'IIVIIRI TURBINES
REF: TTL: SE: 08/03
BSE Limited P.J. Tower, Dalal Street, Fort, Mumbai - 400 001 Thru: BSE Listing Centre STOCK CODE: 533655
Dear Sir/Ma’am,
TRIVENI TURBINE LIMITED CORPO RATE OFF ICE 8"' Floor, Express T rade Towers, 15-16, Sector-1 6A, Naid a - 201301 , U.P., India T.: +91 120 4308000 I F : + 91 120 4 311010- 11 www.triveniturbines.com
By E-filing
Date: August 4, 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 Investors’ presentation for the 1st quarter ended on June 30, 2025
Pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Investors’ brief and Investors’ presentation on the performance of the Company for the 1st quarter ended on June 30, 2025.
The same has also been made available on www.triveniturbines.com.
the website of
the Company at
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
Regd Office : A-44 , Hosiery Complex, Phase-II Extn ., Noida - 201 305 (U .P.) CIN : L29110UP1995PLC041834
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JSIVIIRI
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TURBINES
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 at ₹ 3.71 billion, a decline of 20% y-o-y
➢ EBITDA at ₹ 958 million, down 17% y-o-y,
➢ EBITDA margin of 25.8%, an increase of ~100 bps y-o-y
➢ Profit Before Tax (PBT) at ₹ 873 million, down 19% y-o-y
➢ PBT margin of 23.5%, an increase of ~20 bps y-o-y
➢ Profit After Tax (PAT) at ₹ 644 million, down 20% y-o-y
➢ Quarterly order booking of ₹ 5.36 billion during Q1 FY 26, a decline of 16% y-o-y
➢ Record outstanding carry forward order book as on Jun 30, 2025 of ₹ 20.74 billion, an increase
of 20% y-o-y
➢ Investments including Cash at ₹ 10.05 billion
Noida, August 4, 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 first
quarter ended June 30, 2025 (Q1 FY 26).
Performance Summary (Consolidated) (All figures in ₹ million, unless otherwise mentioned)
Q1 FY 26 Q1 FY 25 % Change
Revenue from Operations
3,713
EBITDA
958
4,633
1,150
-19.9%
-16.7%
EBITDA Margin
25.8%
24.8%
PBT
873
1,078
-19.0%
PBT Margin
23.5%
23.3%
Consolidated PAT
644
804
-19.9%
Consolidated PAT Margin
17.3%
17.4%
EPS (₹/share)
2.03
2.52
Commenting on the Company’s financial performance and recent developments, Mr. Dhruv M.
Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said:
“Performance in the quarter gone by was disappointing largely on account of deferment of dispatches
and orders to coming quarters. Several international customers were reluctant to travel amid
geopolitical uncertainties due to India-Pakistan and Israel-Iran tensions, resulting in postponement of
inspections delaying the dispatches and revenue recognition. While we were anticipating performance
to be back-ended and had indicated lumpy growth in the financial year, the quarter’s performance fell
short of our expectations and proved to be more challenging. Despite this, concerted efforts are being
made to realign operations and we are confident that on an annualized basis i.e. for the financial year
FY 26, the Company can maintain its growth trajectory.
During Q1 FY 26, the Company reported Revenue from Operations of ₹ 3.71 billion, which declined
20% year-on-year (y-o-y) while EBITDA and Profit Before Tax (PBT) stood at ₹ 958 million and ₹ 873
million and declined by 17% and 19% y-o-y respectively.
Order booking for the quarter stood at ₹ 5.36 billion, a decline of 16% y-o-y due to lower export
demand across products and aftermarkets. Order booking was also impacted by geopolitical tensions
which delayed advance collections. The domestic order booking on the other hand recovered after
few quarters of subdued performance and came in at ₹ 2.85 billion, an increase of 32% y-o-y.
We are pleased to report that at end of June 30, 2025 the closing order book increased 20% y-o-y to
a record ₹ 20.74 billion. Over the past three years the outstanding order book has nearly doubled,
underscoring the Company’s strong market position, consistent performance and is a testament to its
sustained growth trajectory.
The overall enquiry pipelines in both Product and Aftermarket segments remain robust and globally
diversified, providing good visibility for the coming year. In Q1 FY 26, the domestic product enquiry
growth was strong at ~130% while the international product enquiry pipeline declined by ~5%.
It gives me great pleasure to formally introduce our newest product launch, India’s first CO₂-based
high-temperature ultra-efficient heat pump, capable of delivering heat up to 122°C and achieving a
Coefficient of Performance (COP) of 6. Indigenously developed, the product marks a major step
forward in offering clean and future-ready heating solutions to India’s industrial sector. As industries
continue to face rising pressure to reduce carbon emissions, adopt renewable energy and improve
energy intensity, this offering provides a practical and future-ready solution. The launch is also part
of our broader strategy to expand our product and solutions portfolio and deliver technologically
superior, energy-efficient products. With an extensive portfolio and domain expertise, alongside
investments in evolving design, research and engineering capabilities, we stand committed to
supporting our customers and delivering lasting value in this changing landscape.”
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) and the Joint venture Company namely Triveni Sports Private Limited
(TSPL).
Q1 FY 26 Performance Review:
• During the quarter under review, revenue from operations declined by 20% as compared to previous
year to ₹ 3.71 billion.
• Domestic sales declined by 24% to ₹ 1.88 billion while export sales declined by 15% to ₹ 1.83 billion.
• Export as % of sales increased to 49% in Q1 FY 26 as compared to 47% in Q1 FY 25.
• EBITDA declined by 17% to ₹ 958 million in Q1 FY 26 as against ₹ 1.15 billion in Q1 FY 25.
• EBITDA margins increased by ~100 bps to 25.8% in Q1 FY 26 as against 24.8% in the last corresponding
quarter.
• Profit After Tax declined 20% y-o-y to ₹ 644 million during the quarter.
• The Company achieved order booking of ₹ 5.36 billion in Q1 FY 26 which declined by 16% on a y-o-y
basis.
• Export order booking declined by 40% y-o-y to ₹ 2.51 billion mainly as Q1 FY 25 included some large
export orders leading to a high base.
• Domestic order booking grew by 32% y-o-y to ₹ 2.85 billion and contributed to 53% of overall order
booking in the quarter.
• On the Product side, order booking for the segment decreased by 20% y-o-y to ₹ 3.90 billion. The
product segment turnover was ₹ 2.55 billion during the quarter, a decline of 17% over previous year.
• Aftermarket segment registered order booking of ₹ 1.46 billion during the quarter, a decline of 3% when
compared with the corresponding period of previous year. The aftermarket turnover was ₹ 1.17 billion
during the quarter, a decline of 25% on a y-o-y basis.
• Aftermarket contribution to turnover was 31% in Q1 FY 26, as compared to 34% in Q1 FY 25.
• Total consolidated outstanding order book stood at a record ₹ 20.74 billion as on June 30, 2025 which
is higher by 20% when compared to the previous year. The domestic outstanding order book stood at
a record ₹ 9.14 billion, which grew 27% as compared to the previous year. The export outstanding order
book stood at ₹ 11.60 billion as on June 30, 2025, up 15% y-o-y and contributing to 56% of the closing
order book.
OUTLOOK
• As a globally trusted energy innovator, Triveni Turbines, is well-positioned to sustain healthy
performance in the near-term after delivering a strong performance yet again in FY 25. This outlook is
supported by a robust order backlog in API and IPG (Industrial Power Generation) turbine segments, as
well as market expansion in high-potential regions such as USA. A robust domestic supply chain further
enhances competitiveness and ensures business continuity.
• Additionally, the Aftermarket business presents strong growth potential, driven by an expanded portfolio
of offerings, including spare parts, services and refurbishments targeting a wider customer base across
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 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 26 Q1 FY 25 % Var
8,172 10,922 19,094 57% 16,487 2,607 19,094 14%
2,850 2,505 5,355 47% 3,897 1,458 5,355 27%
1,882 1,831 3,713 49% 2,548 1,165 3,713 31%
7,518 9% 8,007 36% 15,525 23%
52% 12,709 30% 2,816 -7% 15,525 23%
18%
2,161 4,202 6,363 66% 4,865 1,498 6,363 24%
2,473 2,160 4,633 47% 3,069 1,564 4,633 34%
32% -40% -16%
-20% -3% -16%
-24% -15% -20%
-17% -25% -20%
9,140 11,596 20,736 56% 17,836 2,900 20,736 14%
7,206 27% 10,049 15% 17,255 20%
58% 14,505 23% 2,750 5% 17,255 20%
16%
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 E-mail: ir@triveniturbines.com
Gavin Desa / Rishab Brar CDR India Ph: +91 22 66451237/66451235 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.
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 CJN • L29110UP199SPLC041834
Statement of standalone unaudited financial results for quarter ended June 30, 2025
Particulars
1. Revenue from operations 2. O ther income Total income
3. Expenses
(a) Cost of materials cons umed (b) Changes in inventories of finished goods a nd work-in-progress (c) Em ployee benefits expense (d) Finance costs (e) Depreciation and amortisation ex penses (f) Other expenses
Total expenses 4. Profit before exceptional items and tax 5. Exceptional items [refer note 4] 6. Profit before tax 7. Tax expense:
• Current tax • Defe rred tax Total tax exoense 8. Profit after tax for the period/ year 9. Other comprehensive incomef(loss) A. (i) Items that will not be reclassified to profit or loss
(ii) Income tax re lating to items that will not be reclassified to profit or loss
B. (i) Items that w ill be reclassified to profit or loss
(ii) Income tax rela ting to items that will be reclassified to profit or loss
10. Total comprehensive income for the period/vear 11. Paid up equity s hare capital (face valu e n/-) 12. O ther equity 13. Ea rnings per share of i 1 / - each - (not annualised)
(a) Basic (in t) (b) Diluted (in t)
See accompanymg notes to the standalone unaudited fmanc,al results
(tin millions, except per share data' Year ended June 30, 2025 Mar 31, 2025 June 30, 2024 Mar 31, 2025
Quarter ended
Unaudited
Audited rRt'(f'rnotr 3 1
Unaudited
Audited
3,446 189 3,635
1,638 113 479 7 60 448 2,745 890 . 890
212 8 220 670
. .
(195) 49 (146 524 318
2.11 2.11
4,904 177 5,081
2,935 (269) 450 5 60 602 3,783 1,298 . 1,298
465 (104) 361 937
(30) 7
(27) 7 (43 894 318
2.96 2.96
3,954 168 4,122
1,844 319 391 8 50 578 3,190 932 . 932
221 17 238 694
- -
32 (8) 24 718 318
2.18 2.18
17,952 724 18,676
9,252 576 1,711 22 214 2,320 14,095 4,581 360 4,941
1,319 (122' 1,197 3,744
(30) 7
(8) 2 (29) 3,715 318 10,020
11.78 11.78
TRIVENI TURBINE LIMITED Notes to the standalone unaudited financial results for the quarter ended June 30, 2025
1 The above standalone financial results have been prepared in accorda nce with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with U1e Companies (Indian Accounting standards) Rules as a mended from time to time and other releva nt provisions of the Act .
2 The Company primarily operates in a single reportal>le segment - Power Generating Equipment and Solutions. Accordingly, U1ere are
no reportable segme nts as pe r Ind AS 108.
3 The figures fo r the quarter ended March 31, 2025 are the balancing figures be tween the a udited figures in respect of the full financial yea r and the published yea r to date figures up to third quarter of U1e relevant financial year. Also figure upto the end of the third quarter were only reviewed and not subject to audit.
4 During the year ended Ma rch 31, 2025, pursuant to the 1-lon' ble National Company Law Tribunal ord er on the reduction of share capital of Triveni Energy Solutions Limited, a Wholly Owned Subsidiary of the Company, t 360 million of ga in on account of such capital reduction has been presented as an exceptional item in the standa lone audited financial results for the year ended March 31, 2025.
5 The above unaudited s tandalone financial results of the Company for the quarter ended June 30, 2025 have been reviewed and recommend ed for adoption by the Audit Committi?e and approved by the Board of Directors of the Company at their meeting held on August 04, 2025. The Statutory Auditors have carried out limited review of the above financial results.
Place : Noida (U.P) Date : August 04, 2025
For Triveni Turbine Limited
Dhruv M. Sawhney Chairman & Managing Director
TRIVENI TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, U.P. - 201305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-1 6A, o ida, U.P • 201 301 CIN • L29110UP1995PLC041834
Statement of consolidated unaudited financial results for the quarter e nded June 30, 2025
Particulars
Quarter ended
(tin millions, except per share data Year ended
June 30, 2025 Mar 31, 2025 June 30, 2024 Mar 31, 2025
1. Revenue from operations 2. Other income Total income 3. Expenses
(a) Cost of ma terials cons umed (b) Changes in inventories of finished goods and work-in-progress (c) Employee benefits expense (d) Finance costs (e) Depreciation and amortisation expense (f) Other expenses
Total expenses
4. Profit before tax and share of profiV (loss) in joint venture 5. Share of profit/ (loss) of joint venture 6. Profit before tax 7. Tax expense:
-Current tax - Deferred tax Total tax expense
8. Profit after tax for the period/ yea r
Profit for the period attributabl e to: • Owners of the parent - Non-controlling interest
9. Other comprehensive income/(loss) A. (i) Items that will not be reclassified to profit or loss
(ii) Income tax relating to items that w ill not be reclassified to profit or loss
8. (i) Items that will be reclassified to profit or loss
(ii) Income tax relating to items that will be reclassified to profit o r loss
Other comprehensive income/(loss) attributable to: - Owners of the parent - Non-controlling interest 10. Total comprehensive income for the period/year Total comprehensive income attributable to: - Owners of the parent - Non-controlling interest 11 . Paid up equity share capital (face value t 1/-) 12. Other equity 13. Earnings per share oft 1 / - each - (not annualised)
(a) Basic (in t) (bl Diluted (in t)
See accompanymg notes to the consolidated unaudited f111anc1al results
Unaud ited
3,713 222 3 935
1,664 112 548 8 77 653 3,062
873 (1) 872
221 7 228 644
6-JS (1
. . (177) 49 1128)
(130) 2 51 6
515 1 318
2.03 2.03
Audi ted illefor note JJ 5,380 199 5 579
2,953 (266) 517 7 75 972 4,258
1,321 0 1,321
485 (110 375 946
939 7
(30) 7 (13) 7 (29)
(30) 1 917
909 8 318
2.99 2.99
Unaudited
Audited
4,633 194 4 827
1,881 350 479 10 62 967 3,749
1,078 0 1,078
257 17 274 804
800 4
. . 49 (8) 41
41 0 845
841 4 318
2.52 2.52
20,058 810 20868
9,394 608 2,033 29 263 3,656 15,983
4,885 1 4,886
1,428 (128) 1,300 3,586
3,572 14
(30) 7 39 2 18
17 1 3,604
3,589 15 318 11,846
11 .28 11.28
Notes lo the consolidated unaudited financial results for the quarter ended June 30, 2025
TRIVENI TURBINE LIMITED
1 TI1e above consolidated financial results have been prepared in accordance with Indian Accounting Sta ndards as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting sta ndards) Rules as amended from time to time and other relevant provisions of the Act .
2 The Company and its subsidiaries (together referred to as the 'Group') prima rily operate in a single reportable segment - Power Generating
Equipment and Solu tions. Accordingly, there are no reportable segments as per Ind AS 108.
3 The figures for the quarter ended March 31, 2025 are the balancing figures behveen the audited figures in respect of the full financial year and the published una udited year to date figures up to third qua rter of the relevant financial yea r. Also figure upto the end of the third quarter were only reviewed and not subject to audit.
4 ll1c unaudited standa lone results of the Company are available on the Company's website (www.triveniturbines.com), website of BSE
(www.bseindia.com) and NSE (www.nseindia.com). Summar ised standalone financial performance of the Parent Company is as under:
Particula rs
Revenue from operations Profit before tax Net profit after tax Total comprehensive income
Quarter ended
(t in millions'
Year ended
June 30, 2025 Mar 31, 2025 June 30, 2024 Mar 31, 2025
Unaud ited
3,446 890 670 524
Audited (Refer note JJ 4,904 1,298 937 894
Unaudited
Audited
3,954 932 694 718
17,952 4,941 3,744 3,715
5 The above una udited consolidated financial results of the Company fo r the quarter ended June 30, 2025 have been reviewed and recommended fo r adoption by the Audit Committee and approved by tl1e Board of Directors of Ilic Company a t tl1eir meeting held on August 0-1, 2025. The Statutory Auditors have carried out limited review of the above financial results.
For Triveni Turbine Limited
Place : Noicla (U.P) Da te : August 04, 2025
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l"IVIIRI TURBINES
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Imagine. Innovate. Inspire Investor Presentation
Q1 FY 26 August 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
-,Jiv11ni __ __ _______ _
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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, >20% 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
-,Jiv11ni __ _ ______ _ 3
1 ; URBINES
Market Overview
Global Final Energy Consumption is led by Heating and Cooling Applications
11.2% R1e11ewable, energry
R1enewable e111ergy
28.01% Renewaib e energry
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
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. 1-/VIIRI TURBINES
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
■
Industry contributed to ~39% of end global energy demand in 2019
Even in future scenarios, the contribution is expected to remain at similar % levels
-,Jiv11ni _ _________ _
Source: : BP Energy Outlook 2023
1 ; URBINES
6
Overall Global Steam Turbine Market has been declining over the years…
Overall Global Steam Turbine Market (in GW)
The global steam turbine market declined from
69
••••••••••••••••••••••••••••••••••·························· 49
66
58
61
101
89
81
108 GW in 2014 to 101 GW in 2024
a decline of ~1% p.a. yearly during 2014 - 24
134
108
91
160
140
120
100
80
60
40
20
0
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
4 2 0 2
-,Jiv11ni __ _ ______ _ 7
Source: McCoy Report 2024
1 ; URBINES
Global Steam Turbine Market <100 MW also declined during the last decade
Global Steam Turbine Market, Below 100 MW (in GW)
Below 100 MW industrial segment where
9.6
7.6
15.0
10.0
5.0
0.0
•••••••••••••••••••••••••••••••••••••••··········· ····················· 6.9
8.7
6.2
•••••
5.5
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
4 2 0 2
Overall Ex-China, Ex-Japan
Triveni Turbines operates
has also declined
over a period of 10 years
Below 100 MW market ex-China, ex-Japan
that Triveni addresses
also registered a decline
-,Jiv11ni _ _________ _
Source: McCoy Report 2024
1 ; URBINES
8
Contribution of Thermal Renewable Fuels in <100MW market has also been rising
Global Steam Turbine Market, Below 100 MW (in %), By Fuel Type - 2014 to 2024
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
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
4 2 0 2
■
Fossil
■
Combined Cycle
■
Thermal Renewable
■
Others
In the <100 MW market, where Triveni
operates the growth of thermal renewables
has been consistent and strong.
The share of thermal renewable fuels
(Biomass, Waste-to-Energy, Waste Heat
Recovery) is significant at 73% in 2024
compared to 42% in 2014. In contrast, the
share of fossil fuels declined to 22% in 2024
from 36% in 2014.
-,Jiv11ni _ _________ _
Source: McCoy Report 2024
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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
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1 Power generation capacity: Up to 100 MW; Steam Inlet Temperature: Up to 545°C; Steam Inlet Pressure: Up to 140 Bar(a)
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Providing Sustainable Turbine Solutions for Renewable Energy Space
~
(
l I
®
Biomass
Waste-to-energy
(bagasse, palm oil , residues, wood pellets , rice husk)
(Industrial and municipal waste) facilities
Waste Heat Recovery
(Metals , Steel , Cement)
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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
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Driving Growth through Refurbishment Solutions
12
Gas Turbines
01
Industrial steam
/-\I l~lllldlt<.~l uu::.111~::,::, offers upgrades/ repair/ services / parts supply for
02
O&M of Gas
·r
03
Alternator rotors
\
j
Compressors
--~
04
11
10
steam turbines < 100 MW
Utility steam 7turbines
09
Governing
Expanders
08
Control Panels
Turbopumps
05
1
2
3
4
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
07
06
5
Company
Compliments own product and aftermarket solutions of the
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Our Strategic Priorities
I
Innovation-led Diversified business
[(ii I
Sustained & Responsible Growth
'tlif' I
Customer Centric Products & Solutions
• -•.A.• -- I
People Focus
~ I
Global Market Significance
~ 000 CCl-:l
I
Increasing Proximity to Customers
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Our Unique Strengths
Innovation capabilities
Manufacturing and operational excellence
Extensive global reach
Proven engineering expertise with associated services
~ -
&:a:.. ~ Sales and marketing
efficiency
Asset-light model
Expert engineering team
Responsible operations and responsible sourcing
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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
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Strong Global Footprint
>80 Countries of Presence
• •
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Note: Map for representation purpose and not to scale
18
■ Hea dquarters TTL & TESL (Subsidiary)- Bengalurui, llndia
T Other Subsidi.airiesJIRepresentative Offi:ce
9 Countlies willh I lliStalled Base
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
Rising contribution of thermal renewable fuels in addressable markets
Green Manufacturing Facilities
New product development and innovation efforts towards long-term sustainable solutions
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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)
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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
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Continued ESG Focus
Environmental
Social
0
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
▪ 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
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Financial Performance Highlights
Strong & Consistently Improving Performance Over the Years
Revenue From Operations (₹ Million)
30% p.a.
20,058
16,539
12,476
7,026 8,522
FY 21 FY 22 FY 23 FY 24 FY 25
6,000
5,000
4,000
3,000
2,000
1,000
-
EBITDA and EBITDA Margins (₹ Million & %)
33% p.a.
% 5 . 2 2
% 2 . 2 2
% 7 . 3 2
■
% 8 . 5 2
% 0 . 3 2
3,810
2,764
1,667 1,921
PBT and PBT Margins (₹ Million & %)
34% p.a.
30.0%
5,177
6,000
25.0%
5,000
20.0%
4,000
15.0%
3,000
% 4 . 1 2
% 5 . 9 1
% 5 . 0 2
% 6 . 1 2
3,576
2,555
10.0%
2,000
1,506 1,666
5.0%
1,000
0.0%
-
% 3 . 4 2
30.0%
4,884
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
FY 21 FY 22 FY 23 FY 24 FY 25
FY 21 FY 22 FY 23 FY 24 FY 25
• Revenue CAGR of 30% p.a.
between FY 21 - FY 25
• EBITDA CAGR of 33% p.a. between FY 21 – FY 25
• PBT CAGR of 34% p.a. between FY 21 – FY 25
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Strong & Consistently Improving Performance Over the Years
PAT and PAT Margins (₹ Million & %)
% 7 . 1 3
2,702
37% p.a.
% 1 . 5 1
1,929
% 6 . 4 1
1,025
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
-
% 3 . 6 1 2,695
■
■
% 9 . 7 1
3,586
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
FY 21
FY 22
FY 23
FY 24
FY 25
Order Booking (₹ Million)
38% p.a.
23,627
18,783
16,054
11,836
6,431
FY 21 FY 22 FY 23 FY 24 FY 25
• Order Booking CAGR of 38% p.a.
between FY 21 – FY 25
• PAT CAGR of 37% p.a. between FY 21 – FY 25
-,Jiv11ni __ ________ _
Note: PAT and PAT margins for FY 22 include the impact of one-time exceptional income of ₹ 1,982 million (Net of Expenses)
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Focused on Diversification
Share of Domestic and Export Sales (%)
Share of Product and Aftermarket Sales (%)
4 5
6 4
0 7
0 3
5 5
4 5
5 4
6 4
2 5
8 4
7 2
7 2
3 3
3 3
3 7
3 7
7 6
7 6
2 3
8 6
FY 21
FY 22
FY 23
FY 24
FY 25
FY 21
FY 22
FY 23
FY 24
FY 25
■
Domestic
■
Exports
■
Aftermarket
■
Product
Focused on enhancing our global market position and enhancing contribution of Aftermarket Solutions -,Jiv11ni _ _________ _
•
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Enhancing Working Capital Management Efficiency
Working Capital (₹ Million)
660
Inventory Turnover Ratio (x Times)
Assets Turnover Ratio (x Times)
5.96
5.86
2.26
3.22
FY 20
-756
FY 25
FY 20
FY 25
FY 20
FY 25
• 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
-,Jiv11ni __ _ ______ _ 27
in asset turnover.
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Optimising Cashflows and Returns
Investments including Cash (₹ Million)
Return on Capital Employed (%)
Return on Equity (%)
9,873
32%
40%
33%
25%
1,979
FY 20
FY 25
FY 20
FY 25
FY 20
FY 25
• 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 June 30, 2025, stood at ₹ 10.05 billion giving us enough headroom for investing in
growth initiatives.
-,Jiv11ni __ _ ______ _ 28
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Q1 FY 26: Management Commentary
• Performance in the quarter gone by was disappointing largely on account of deferment of
dispatches and orders to coming quarters. Several international customers were reluctant to
travel amid geopolitical uncertainties due to India-Pakistan and Israel-Iran tensions, resulting
in postponement of inspections delaying the dispatches and revenue recognition. While we
were anticipating performance to be back-ended and had indicated lumpy growth in the
financial year, the quarter’s performance fell short of our expectations and proved to be more
challenging. Despite this, concerted efforts are being made to realign operations and we are
confident that on an annualized basis i.e. for the financial year FY 26, the Company can
maintain its growth trajectory.
• Order booking for the quarter stood at ₹ 5.36 billion, a decline of 16% y-o-y due to lower
export demand across products and aftermarkets. We are pleased to report that at end of
June 30, 2025 the closing order book increased 20% y-o-y to a record ₹ 20.74 billion.
Over the past three years the outstanding order book has nearly doubled, underscoring the
Company’s strong market position, consistent performance and is a testament to its sustained
Mr. Dhruv Sawhney, Chairman & Managing Director Triveni Turbine Limited
-,Jiv11ni __ __ _______ _
growth trajectory.
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Q1 FY 26: Key Financial Indicators
REVENUE
EBITDA and EBITDA Margin
PAT and PAT Margin
(₹ in Million)
-19.9%
4,633
3,713
Q1 FY 25
Q1 FY 26
• Performance in the quarter gone by
was disappointing largely on account of deferment of dispatches and orders to coming quarters.
-16.7%
-19.9%
1,400 1,200 1,000 800 600 400 200 -
1,150
■ 24.8%
958
■ 25.8%
Q1 FY 25
Q1 FY 26
900 27% 800 25% 700 600 23% 500 21% 400 300 19% 200 17% 100 15% -
804
17.4% ■
644
17.3% •
Q1 FY 25
Q1 FY 26
• EBITDA margins increased by ~100 bps y-o-y to 25.8% in Q1 FY 26
• PAT margins of 17.3% were largely flat on y-o-y basis
• Domestic sales declined by 24% to ₹1.88 billion while export sales declined by 15% to ₹1.83 billion.
-,Jiv11ni _ _________ _
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20.0%
19.0%
18.0%
17.0%
16.0%
15.0%
14.0%
13.0%
12.0%
11.0%
10.0%
30
Q1 FY 26: Record Closing Order Book
Order Booking
Closing Order Book
(₹ in Million)
-15.8%
6,363
5,355
+20.2%
20,736
17,255
Q1 FY 25
Q1 FY 26
Q1 FY 25
Q1 FY 26
• Domestic order booking grew by 32% y-o-y to ₹ 2.85 billion and contributed to 53% of overall order booking in the quarter.
• Export order booking declined by
40% y-o-y to ₹ 2.51 billion mainly as Q1 FY 25 included some large export orders leading to a high base.
• The domestic outstanding order book stood at a record ₹ 9.14 billion, which grew 27% as compared to the previous year.
• The export outstanding order book stood at ₹ 11.60 billion as on June 30, 2025, up 15% y-o-y and contributing to 56% of the closing order book.
-,Jiv11ni __ _ ______ _ 31
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Shareholding Pattern
Shareholding Pattern
-
1.04%
3.65% 11.96%
27.51%
1.74%
5.58% 11.40%
25.44%
55.84%
55.84%
30-Jun-24
30-Jun-25
■
■
■
Promoter Group Mutual Funds + AIF Others
■
■
Foreign Portfolio Investors Resident Individuals
As on June 30, 2025 Resident Individuals increased holding y-o-y along with Others (detailed below)
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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 ____ IS 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.
-,Jiv11ni _______________ _ __ _ _
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Thank You