Q4FY23 Quarterly & FY23 Annual Result Announced for Triveni Turbine Ltd.
Heavy Electrical Equipment company Triveni Turbine announced Q4FY23 & FY23 results: Q4FY23: During the quarter under review, revenue from operations grew by 56% as compared to previous year to Rs 3.70 billion, which were the highest ever achieved in a quarter. Domestic sales increased by 2% to Rs 1.78 billion while the export turnover increased by 213% to Rs 1.92 billion, driven by the Company success in international markets especially in the aftermarket segment. As a result, the mix of domestic and export sales changed to 48:52 in Q4FY23 as compared to 74:26 in Q4FY22. EBITDA increased by 59% to Rs 788 million in Q4FY23 as against Rs 497 million in Q4FY22. EBITDA margins increased by ~30 bps to 21.3% in Q4FY23 as against 21.0% in Q4FY22 driven by higher international sales. Profit After Tax grew 68.5% YoY to Rs 556 million during the quarter. The Company achieved highest-ever total order booking of Rs 4.66 billion in Q4FY23 as against Rs 2.83 billion during Q4FY22, an increase of 65%. The domestic order booking during the quarter was Rs 2.65 billion, increasing by 27% as compared to last year. The export order booking during the quarter was Rs 2.01 billion, growing by 172% as compared to last year. On the Product side, order booking during the quarter was the highest ever Rs 3.09 billion, an increase of 41% when compared with the corresponding period of previous year. The product segment turnover was Rs 2.22 billion during the quarter, an increase of 27% over previous year. Total consolidated outstanding order book stood at a record Rs 13.28 billion as on Mar 31, 2023 which is higher by 37% when compared to the previous year. The domestic outstanding order book stood at Rs 7.79 billion, up 45%. The export outstanding order book stood at Rs 5.49 billion as on Mar 31, 2023, up 27% and contributing to 41% of the closing order book. FY23: During the year under review, the Company achieved a record turnover of Rs 12.48 billion, growing by an impressive 46% as compared to previous year. The performance of the Company was boosted by higher international and aftermarket sales. Domestic sales increased by 15% to Rs 6.90 billion while the export turnover increased by 121% to Rs 5.57 billion. As a result, the mix of domestic and export sales changed to 55:45 in FY23 as compared to 70:30 in FY22. EBITDA increased by 44% to Rs 2.76 billion in FY23 as against Rs 1.92 billion in FY22. EBITDA margins declined marginally by ~30 bps to 22.2% in FY23 as against 22.5% in FY22. Profit After Tax (adjusting for exceptional income and share of loss from erstwhile Joint Venture (JV)) grew 57.7% YoY to Rs 1.93 billion during the year. Order booking for the year reached an all-time high of Rs 16.05 billion in FY23 as against Rs 11.84 billion during FY22, an increase of 36%. Domestic order booking during the year was Rs 9.31 billion, increasing by 30% as compared to last year. The export order booking during the year was Rs 6.74 billion, growing by 44% as compared to last year. On the Product side, order booking during the year was the highest ever Rs 11.43 billion, an increase of 22% when compared with the previous year. The product segment turnover was Rs 8.36 billion during the year, an increase of 34% over previous year. Result PDF17-05-2023
