Triveni Turbine Q2 Results Review - Healthy Performance, Strong Outlook Intact: Prabhudas Lilladher

Prabhudas Lilladher Report

Triveni Turbine Ltd. reported a strong quarterly performance with revenue and profit after tax growth of 41.9% and 66% YoY. During the quarter Ebitda margin appeared to be lower due to costs booked in one of large aftermarket order in South African Development Community, where revenue is likely to be recognised from Q3 FY23.

Going forward, with improving product mix (higher contribution from exports and aftermarket), stable commodity prices and renegotiation of commodity contracts at lower prices, we expect margin expansion in short to medium term.

Triveni Turbine's ordering activities are likely to continue its momentum for next couple of quarters driven by healthy enquiry pipeline which grew 27% YoY led by exports market (up 57% YoY) of Europe, America, South Africa and South East Asia.

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