Buy Triveni Turbine; target of Rs 325: Sharekhan
Sharekhan is bullish on Triveni Turbine has recommended buy rating on the stock with a target price of Rs 325 in its research report dated November 03, 2022.05-11-2022
05-11-2022
TRIVENI TURBINE LTD. - 533655 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
The audio recording of the investors'' call held on 3rd November, 2022 on the financial results for the Q2 & half year ended on 30th September, 2022, has been uploaded on the Company''s website at the below link: https://www.triveniturbines.com/conference-call-recordings.html Kindly take the same on records.03-11-2022
TRIVENI TURBINE LTD. - 533655 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 we enclose copies of the newspaper advertisement pertaining to the financial results of the company for the Q2 and Half year ended September 30, 2022. The advertisement was published in i) Business Standard (English) and (Hindi) on 3" November, 2022 ii) Business Line (English) on 3"November, 202203-11-2022
Q2FY23 Quarterly Result Announced for Triveni Turbine Ltd.
Heavy electric equipment company Triveni Turbine announced Q2FY23 results: Revenue from operations for Q2FY23 at Rs 2.93 billion, an increase of 41.9% YoY, an all-time high on a quarterly basis EBITDA for the quarter at Rs 664 million, up 39.2% YoY, with a margin of 22.7% PAT for the quarter at Rs 463 million, an increase of 53.8% YoY Highest ever quarterly order booking of Rs 3.6 billion during Q2 FY 23 Order booking of Rs 7.19 billion during H1FY23, an increase of 23.9% YoY Record outstanding carry forward order book as on September 30, 2022, of Rs 11.37 billion, an increase of 37.3% YoY Investments, including cash at Rs 7.83 billion, an increase of 4.3% from March 31, 2022 The board of directors of the company, subject to the approval of shareholders, has approved a proposal to buy back from equity shareholders of the company up to 5,428,571 equity shares at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 190 crore, through tender offer on proportionate basis in accordance with the provisions of SEBI (Buy Back of Securities) Regulations, 2018 and Companies Act, 2013 Commenting on the company’s financial performance and recent developments, Dhruv M Sawhney, Chairman and Managing Director of Triveni Turbine Limited, said, “The performance of the Company during the quarter under review has been impressive with turnover and profitability growing 41.9% and 53.8% respectively when compared to the corresponding quarter last year. The Company is well on track for a strong multi-year growth trajectory aided by positive momentum in its addressable markets, ably supported by focused business strategy and execution. Order booking, which is a harbinger of future operational and financial performanc, has been growing successively and touching new highs quarter after quarter. In the quarter under review, order booking was over Rs 3.61 billion with export order booking more than doubling as compared to last year. At the half year mark, order booking in H1 FY 23 reached Rs 7.19 billion, growing a healthy 23.9% over the last year. Notably export contribution has increased to 39.5% and order booking for the aftermarket segment has also shown solid growth of 44.7% over the last year, reaching Rs 1.90 billion in H1 FY 23. A higher contribution from exports bodes well for the Company as it enhances international market share and the strong growth in aftermarket business helps enhance lifetime customer value. Both of these also contribute positively to the margin profile of the Company, which is an added bonus. In the product segment, we are witnessing higher enquiries, especially from international markets such as Southeast Asia, Europe, West Asia, and North America. Among industry segments, process industries led to the higher enquiry base followed by Independent Power Producers (IPP) segment. The ongoing global energy crisis is also likely to hasten the energy transition through renewable sources and methods, thereby providing immense opportunities for companies like ours. The Company is also actively strengthening its product portfolio in the domestic and international API markets. This includes energy-efficient drive turbines with single-stage and multi-stage designs. On the aftermarket side, the Company continues to drive growth across the three sub-segments of refurbishment, spares and service. In traditional business, efficiency enhancements and upgrades have significantly contributed to both international and domestic market orders. In the newer forays, we have previously announced the acquisition of a 70% stake in TSE Engineering which has yielded good results in a short period of time in the form of large services contract in the South African Development Community (SADC) region apart from enhancing our on-ground presence. The Company continues to develop references in this new segment of servicing large utility steam turbines which is expected to generate further business for spares and refurbishment. With strong focus in enquiry generation and aggressive coverage plans, both in domestic and international markets, we expect to convert large opportunities in the imminent future.” Result PDF03-11-2022
TRIVENI TURBINE LTD. - 533655 - Announcement under Regulation 30 (LODR)-Investor Presentation
We send herewith a copy of Investors'' brief on the performance of the Company for the Quarter (Q2) and half year ended 30th September, 2022 for the financial year 2022-23 for your Information. The same is also available on the web site of the Company i.e. www.triveniturbines.com.02-11-2022
TRIVENI TURBINE LTD. - 533655 - Announcement Of Outcome Of Board Meeting Pursuant To Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended ('SEBI LODR Regulations')
The Board of directors of the Company at its meeting held today considered and approved the unaudited standalone and consolidated financial results of the Company for the half-year ended September 30, 2022. The Board has also approved the proposal for buyback of equity shares of the Company of Re 1/- through tender offer route at a price of Rs 350/- per share for an aggregate amount not exceeding Rs One hundred ninety crore .The Buyback offer is subject to the approval of the shareholders by special resolution by means of Postal Ballot.02-11-2022
TRIVENI TURBINE LTD. - 533655 - Board Meeting Outcome for Announcement Of Outcome Of Board Meeting Pursuant To Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended ('SEBI LODR Regulations')
The Board of directors of the Company at its meeting held today considered and approved the unaudited standalone and consolidated financial results of the Company for the half-year ended September 30, 2022. Copy with limited review reports of Auditors are enclosed. The Board has also approved the proposal for buyback of equity shares of the Company of Re 1/- through tender offer route at a price of Rs 350/- per share for an aggregate amount not exceeding Rs One hundred ninety crore .The Buyback offer is subject to the approval of the shareholders by special resolution by means of Postal Ballot.02-11-2022
TRIVENI TURBINE LTD. - 533655 - Announcement Of Outcome Of Board Meeting Pursuant To Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, As Amended ('SEBI LODR Regulations')
The Board of directors of the Company at its meeting held today considered and approved the unaudited standalone and consolidated financial results of the Company for the half-year ended September 30, 2022. Copy with limited review reports of Auditors are enclosed. The Board has also approved the proposal for buyback of equity shares of the Company of Re 1/- through tender offer route at a price of Rs 350/- per share for an aggregate amount not exceeding Rs One hundred ninety crore .The Buyback offer is subject to the approval of the shareholders by special resolution by means of Postal Ballot.02-11-2022
TRIVENI TURBINE LTD. - 533655 - Voting Result Of Postal Ballot Along With Scrutinizer'S Report
This is further to our letter dated Sept 29, 2022 submitting postal ballot notice dated September 27, 2022 seeking approval of the members for re-appointment of Mr Arun Prabhakar Mote as Whole-time Director (designated as Executive Director') of the Company for a period of two years w.e.f November 1, 2022. In this regard, we enclose herewith the Voting Result along with Scrutinizer's Report dated October 31, 2022 .Based on the said report, the aforesaid special resolution has been passed by the members with requisite majority on 29th October , 2022.31-10-2022