Introduction
Triveni Turbine Limited, one of India’s leading industrial steam turbine manufacturers, made headlines as its stock surged by 4.2% during Wednesday’s trading session. The stock price jumped to ₹618.95 on the Bombay Stock Exchange (BSE) following the announcement of a significant order win—an advanced CO₂-based standalone Energy Storage System (ESS) project worth ₹290 crore from NTPC Limited.
With a market capitalization of ₹19,390.5 crores, Triveni Turbine continues to strengthen its presence in the energy sector. At 2:23 PM, the stock was trading at ₹610, reflecting a 2.7% increase from its previous closing price of ₹593.85.
This strategic move aligns with India’s broader goal of energy sustainability and the government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, making Triveni Turbine a strong player in the evolving energy landscape.
Triveni Turbine’s Big Win – What’s the News?
In a regulatory filing with the stock exchanges, Triveni Turbine Limited confirmed that it has secured a ₹290 crore contract from NTPC Limited for a CO₂-based standalone Energy Storage System (ESS) with a 160 MWh capacity. The system will be installed at NTPC Kudgi Super Thermal Power Plant (STPP) in Karnataka.
The scope of work for Triveni Turbine includes:
- Design, engineering, manufacturing, and supply of the Energy Storage System
- Erection and commissioning at NTPC Kudgi STPP
- Project execution within 18 months
NTPC Limited, India’s largest integrated power producer, has been pushing for innovation in energy storage and renewable energy adoption. This project is crucial as CO₂ Battery technology is emerging as an efficient alternative for large-scale energy storage solutions. Triveni Turbine will execute the project on a turnkey basis in collaboration with its technology partner, Energy Dome.
The deal further strengthens Triveni’s role in the global clean energy transition, enhancing its market position as a technology-driven power solutions provider.
Financial Performance – Strong Growth in Q2 FY25
Triveni Turbine’s recent Q2 FY25 financial results indicate significant growth across key performance metrics.
Revenue & Profit Growth
- Revenue from operations surged 29% YoY, from ₹387.8 crores in Q2 FY24 to ₹501 crores in Q2 FY25.
- Net profit witnessed a 42% YoY growth, increasing from ₹64 crores to ₹91 crores.
- EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) rose by 47.4% YoY, reaching ₹131 crores compared to ₹89 crores in Q2 FY24.
- EBITDA margin improved from 22.9% to 26.1%, indicating enhanced operational efficiency.
Robust Order Book in Q2 FY25
Triveni Turbine reported a 25% YoY increase in order bookings, reaching ₹572 crores in Q2 FY25 compared to ₹459 crores in Q2 FY24.
Key highlights:
- Export order bookings saw a massive 50% YoY growth, totaling ₹304 crores, contributing 53% of total order bookings.
- Product order bookings grew 30% YoY to ₹398 crores, driven by strong demand for biomass-based process cogeneration and API turbines.
- Aftermarket orders touched a record ₹174 crores, a 13% YoY increase, indicating strong customer trust in Triveni’s maintenance and servicing solutions.
- As of September 30, 2024, the total outstanding order book stood at ₹1,796 crores, a 22% YoY increase.
This remarkable growth highlights Triveni Turbine’s strong market positioning and its ability to secure large-scale, high-value projects.
Stock Performance & Market Trends
Triveni Turbine’s stock performance has been a mixed bag over different timeframes:
- 1-Year Return: +63% (strong bullish trend)
- 6-Month Return: +1% (steady performance)
- 1-Month Return: -17% (recent correction)
Despite the recent decline, the stock remains a strong performer in the power equipment sector, largely driven by its expanding order book and strategic project wins.
Key Financial Ratios
| Metric | Value |
|---|---|
| Market Cap | ₹19,823 Cr |
| Current Price | ₹624 |
| 52-Week High/Low | ₹885 / ₹350 |
| Stock P/E | 62.9 |
| Book Value | ₹34.3 |
| Dividend Yield | 0.42% |
| ROCE (Return on Capital Employed) | 38.3% |
| ROE (Return on Equity) | 28.5% |
| Debt | ₹10.4 Cr |
With a high ROCE of 38.3% and a robust ROE of 28.5%, Triveni Turbine maintains strong profitability and financial health, making it an attractive stock for investors.
About Triveni Turbine Limited
Industry Leader in Steam Turbines
Triveni Turbine Limited is a global leader in industrial steam turbine manufacturing, specializing in decentralized, steam-based renewable energy solutions.
Manufacturing & Global Presence
- Headquarters: Bengaluru, Karnataka
- Manufacturing Facilities: Bengaluru
- Global Reach: 80+ countries
- Installed Base: 6,000+ steam turbines across 20+ industries
Triveni provides end-to-end power solutions for captive and renewable power generation, catering to industries such as sugar, steel, textiles, cement, and biomass energy.
Its strong aftermarket support and focus on innovation-driven clean energy solutions make it a trusted partner in the global power sector.
Future Outlook – Why Triveni Turbine is a Strong Bet?
1. Expansion in Energy Storage Solutions
The recent ₹290 crore NTPC project signifies Triveni’s expansion into energy storage and battery solutions, opening new avenues for growth.
2. Strong Export Growth & Diversification
With 50% YoY export order growth, Triveni is expanding its global footprint, reducing dependency on the domestic market.
3. Robust Financial Health & Order Pipeline
A record ₹1,796 crore order book and high-margin business model indicate sustained future growth.
4. Government’s Renewable Energy Push
Policies like Atmanirbhar Bharat, Make in India, and Renewable Energy Expansion will continue to boost Triveni Turbine’s growth prospects.
Conclusion
Triveni Turbine Limited’s stock surge following the ₹290 crore NTPC project win reflects its strong market position, financial health, and growth potential. With expanding order books, rising exports, and strategic diversification into energy storage, Triveni Turbine is well-positioned for long-term growth in the power sector.
For investors seeking a strong, innovative, and financially sound power stock, Triveni Turbine remains an attractive option.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.