Triveni Turbine reported a 19.2% year-on-year increase in revenue to ₹4.43 billion for the first quarter of FY27. However, profitability saw a decline, with EBITDA margins at 18% compared to 25.8% in the prior year. This was attributed to a softer order mix and delivery phasing of strategic projects. Order booking grew 6.1% driven by exports and aftermarket services.
Triveni Turbine Reports Q1 FY27 Performance
Triveni Turbine Limited announced its financial results for the first quarter ended June 30, 2026 (Q1 FY27), revealing a significant increase in revenue but a dip in profitability. The company’s revenue from operations reached ₹4.43 billion, marking a 19.2% growth compared to the same period last year. This growth was fueled by a 27.4% rise in domestic sales to ₹2.4 billion and a 10.8% increase in exports, contributing ₹2.03 billion to the total revenue. The export share in revenue stood at 48.8%.
Profitability Challenges and Outlook
Despite the revenue growth, profitability faced headwinds. EBITDA for the quarter stood at ₹797 million with a margin of 18%, down from 25.8% in Q1 FY26. Profit before tax declined by 20.1% to ₹697 million, with a margin of 15.7% compared to 23.5% in the previous year. Management attributed this to the execution of orders from H1 FY26, which had a softer mix, and the delivery phasing of certain strategic orders. The company remains optimistic for full-year FY27, anticipating back-ended growth in both revenue and profit.
Strong Order Booking Growth
The order booking front showed positive momentum, with total order bookings for the quarter reaching ₹5.68 billion, a 6.1% year-on-year increase. This growth was primarily driven by exports and aftermarket services. Export order booking surged by 53.4%, accounting for 68% of total order bookings, against 47% in Q1 FY26. The aftermarket segment also saw robust growth, with orders increasing by 54% to represent 39% of total order booking. Conversely, domestic and product order bookings experienced a slowdown, decreasing by 35.4% and 11.6%, respectively.
Balance Sheet Improvements
The company highlighted improvements in its balance sheet, noting a reduction in receivables, a reversion to negative working capital, and an increase in the cash balance during Q1 FY27 compared to Q4 FY26.
Strategic Initiatives and Future Focus
Triveni Turbine continues to focus on innovation and expanding its product segments. Investments in research and development, including Organic Rankine Cycle developments, are ongoing. The company has also transitioned its COO role to focus on business transformation and AI-specific initiatives, emphasizing agility and productivity. Geopolitical uncertainties are acknowledged as potential sources of volatility, but the company aims to navigate these through its diversified reach and local presence.
Source: BSE
