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Yes Securities Report
Triveni Turbine Ltd. reported healthy performance on account of better sales mix and execution ramp up. Ebitda margins contracted ~64 basis points YoY owing to commodity pressures.
Order inflows came in at Rs 3.6 billion (up 31% YoY) led by strong growth in domestic markets at Rs 2.5 billion while export order inflows grew by 44%.
Triveni Turbine's order book remains strong at ~Rs 10.7 billion (1.2 times trailing twelve months revenue), providing revenue visibility for FY23. Enquiry pipeline remains strong in both domestic and exports from sectors such as food processing, pharma, cement, sugar, oil and gas, steel, etc.
Going forward, management expects margins to be in the region of ~20% and guided for 30‐35% FY23 revenue growth.
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