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TRITURBINE - Triveni Turbine

📊 NSE: TRITURBINE 🏢 Electric Equipment 📅 Last Updated: 12/14/2025 14:33

📢 Recent Corporate Announcements

Triveni Turbine Allots 1,572 Equity Shares Under ESOP Plan 2023

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Feb 2026, 06:29 PM

Triveni Turbine Limited has allotted 1,572 equity shares of Re. 1 each following the exercise of vested options under its Employee Stock Unit Plan 2023. This allotment has resulted in a marginal increase in the company's paid-up share capital from Rs. 31,78,90,457 to Rs. 31,78,92,029. The exercise price for these shares was set at Re. 1 per share with no premium. These newly issued shares will rank pari-passu with the existing equity shares of the company.

Allotment of 1,572 equity shares of face value Re. 1 each
Total paid-up share capital increased to Rs. 31,78,92,029
Shares issued under the Triveni Turbine Limited - Employee Stock Unit Plan 2023
Exercise price per share was Re. 1 with zero premium

💡 This is a routine administrative update with negligible dilution to existing shareholders. No action is required from investors as this does not impact the company's fundamentals.

Triveni Turbine Q3 Revenue Up 24% to ₹6.24 Billion; PAT Dips 1% on Exceptional Charge

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 06:03 PM

Triveni Turbine reported a strong 24% YoY revenue growth in Q3 FY26, reaching ₹6.24 billion, though PAT slightly declined by 1% to ₹917 million due to a ₹15.7 crore non-recurring wage code charge. While order bookings for the quarter fell 26% YoY due to timing issues with advances, the company maintains a robust domestic enquiry pipeline across steel, cement, and sugar sectors. The US subsidiary reported a loss of ₹21.7 crore for the nine-month period, but management expects a recovery in Q4 and FY27 driven by new products like heat pumps and MVRs.

Q3 FY26 Revenue grew 24% YoY to ₹6.24 billion, while EBITDA rose 16.9% to ₹1.54 billion.
Order booking for Q3 declined 26% YoY, primarily due to delayed advances on pending orders at quarter-end.
US subsidiary recorded a loss of ₹21.7 crore in the first nine months of FY26.
Management expects double-digit growth in domestic order bookings in Q4 FY26 driven by steel and cement sectors.
First order received for CO2-based heat pumps with an enquiry pipeline currently exceeding 100 units.

💡 Investors should monitor the conversion of the strong enquiry pipeline into firm orders in Q4 to validate management's growth guidance. The reduction in US duty to 18% and traction in new product segments like heat pumps are positive long-term catalysts despite short-term subsidiary losses.

Triveni Turbine Announces ₹2.25 Interim Dividend; Record Date Set for Feb 9, 2026

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 05 Feb 2026, 05:03 PM

Triveni Turbine Limited has declared an interim dividend of ₹2.25 per equity share (face value ₹1) for the financial year 2025-26. The company has designated February 9, 2026, as the record date for determining eligible shareholders and as the cut-off for tax document submissions. Tax will be deducted at source (TDS) at 10% for resident shareholders with a valid PAN if the dividend exceeds ₹10,000, while a 20% rate applies for those without a PAN. Non-resident shareholders may benefit from lower tax treaty rates upon submission of required documentation like Form 10F and a Tax Residency Certificate.

Interim dividend of ₹2.25 per share declared for the financial year ending March 31, 2026.
Record date for dividend entitlement and tax declaration submission is Monday, February 9, 2026.
TDS of 10% applicable for resident individuals with PAN for dividend amounts exceeding ₹10,000.
Non-resident shareholders can avail lower treaty rates by submitting electronic Form 10F and TRC.
Dividend payments will be made exclusively through electronic modes as per latest SEBI mandates.

💡 Shareholders should ensure their PAN, bank account, and email details are updated with their Depository Participant or RTA by February 9, 2026. Eligible investors should submit Form 15G/15H or other tax exemption documents via the Alankit portal before the record date to avoid higher TDS.

Triveni Turbine Releases Q3 & 9M FY26 Earnings Conference Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Feb 2026, 06:19 PM

Triveni Turbine Limited has officially released the audio recording of its earnings conference call held on February 4, 2026. The call focused on the company's standalone and consolidated unaudited financial results for the third quarter and nine months ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015. Investors can access the recording on the company's website to understand management's perspective on recent performance.

Audio recording of the Q3 & 9M FY26 earnings call is now available for public access.
The conference call was conducted on February 4, 2026, following the financial results announcement.
Covers performance for the quarter and nine-month period ended December 31, 2025.
Compliance filing made under Regulation 30 and Schedule III of SEBI LODR Regulations.

💡 Investors should listen to the recording to gain insights into management's guidance on the order pipeline and export market demand. This provides necessary context to the reported financial figures.

Triveni Turbine Q3 FY26: Record Revenue of ₹6.24B, 225% Interim Dividend Declared

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 07:11 PM

Triveni Turbine reported its highest-ever quarterly revenue of ₹6.24 billion, a 24% YoY increase, driven by a 54% surge in export sales. While EBITDA grew 16.9% to ₹1.54 billion, PAT remained stable at ₹917 million due to a one-time ₹157 million charge related to the new wage code. The company declared an interim dividend of ₹2.25 per share and maintains a healthy order book of ₹19.86 billion. However, quarterly order bookings saw a 26% YoY decline to ₹3.91 billion, primarily due to delays in export contract closures.

Highest ever quarterly Revenue of ₹6.24 billion (+24% YoY) and EBITDA of ₹1.54 billion (+16.9% YoY).
Export sales grew significantly by 54% YoY, contributing 62% to the total quarterly revenue.
Interim dividend of 225% (₹2.25 per share) approved for the financial year ending March 31, 2026.
Total outstanding order book reached a record ₹19.86 billion, up 9% YoY, providing strong future visibility.
Adjusted PAT (excluding exceptional items) grew 12.76% YoY to ₹1.04 billion.

💡 Investors should focus on the strong execution and record revenue, while monitoring the recovery in export order bookings which declined this quarter. The high dividend payout and robust order backlog suggest long-term stability despite short-term global trade uncertainties.

Triveni Turbine Q3 Revenue Up 32.5% YoY; Declares ₹2.25 Dividend and Re-appoints MD

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 06:36 PM

Triveni Turbine reported a strong 32.5% YoY growth in standalone revenue from operations, reaching ₹5,840 million for the quarter ended December 31, 2025. The Board declared an interim dividend of ₹2.25 per share (225% of face value) with a record date of February 9, 2026. Net profit for the quarter was ₹952 million, impacted by a one-time exceptional expense of ₹157 million due to the New Labour Code. The company also ensured leadership continuity by re-appointing Mr. Nikhil Sawhney as Managing Director for a five-year term starting May 2026.

Revenue from operations increased to ₹5,840 million in Q3 FY26 from ₹4,406 million in Q3 FY25.
Declared an interim dividend of ₹2.25 per equity share of face value ₹1 each.
Profit before exceptional items and tax rose 27% YoY to ₹1,452 million.
Recognized a one-time exceptional cost of ₹157 million related to employee benefit obligations under the New Labour Code.
Re-appointed Mr. Nikhil Sawhney as Vice Chairman and Managing Director for 5 years effective May 10, 2026.

💡 Investors should view the strong top-line growth and management continuity as positive indicators of business health. The stock remains attractive for those seeking a mix of growth in the power equipment sector and consistent dividend yields.

Triveni Turbine Q3 Revenue Up 32.5% YoY; Declares ₹2.25 Dividend and Re-appoints MD

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 06:33 PM

Triveni Turbine Limited reported a robust 32.5% YoY increase in revenue from operations, reaching ₹5,840 million for the quarter ended December 31, 2025. The company declared an interim dividend of ₹2.25 per share (225% of face value) with a record date of February 9, 2026. While Profit After Tax was ₹952 million, it was impacted by a one-time exceptional charge of ₹157 million due to the New Labour Code. The board also ensured leadership continuity by re-appointing Mr. Nikhil Sawhney as Managing Director for a five-year term starting May 2026.

Revenue from operations increased to ₹5,840 million in Q3 FY26 from ₹4,406 million in Q3 FY25
Declared an interim dividend of ₹2.25 per equity share with a record date of February 9, 2026
Profit before exceptional items and tax rose to ₹1,452 million compared to ₹1,140 million YoY
Re-appointment of Mr. Nikhil Sawhney as Managing Director for 5 years effective May 10, 2026
One-time exceptional expense of ₹157 million recognized for compliance with the New Labour Code

💡 Investors should focus on the strong 32.5% top-line growth and the healthy dividend payout as signs of operational strength. The re-appointment of the Managing Director ensures leadership stability for the next five years.

Triveni Turbine Declares ₹2.25 Interim Dividend; Q3 Revenue Up 32.5% YoY

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 03 Feb 2026, 06:27 PM

Triveni Turbine has declared an interim dividend of ₹2.25 per share (225% of face value) for FY 2025-26, with the record date set for February 9, 2026. The company reported a strong standalone revenue growth of 32.5% YoY, reaching ₹5,840 million for the quarter ended December 31, 2025. Profit after tax stood at ₹952 million, which includes a one-time exceptional expense of ₹157 million due to the New Labour Code transition. Additionally, the board has approved the re-appointment of Nikhil Sawhney as Managing Director for a further five-year term starting May 2026.

Interim dividend of ₹2.25 per equity share (225% of face value) declared.
Standalone revenue from operations grew 32.5% YoY to ₹5,840 million in Q3 FY26.
Exceptional one-time expense of ₹157 million recognized for New Labour Code compliance.
Nikhil Sawhney re-appointed as Vice Chairman and Managing Director for 5 years effective May 10, 2026.
Record date for dividend entitlement fixed as February 9, 2026, with payment by February 23.

💡 Investors should ensure they hold shares before the February 9 record date to qualify for the ₹2.25 dividend. The robust revenue growth and management continuity are positive indicators for long-term performance.

Triveni Turbine Declares ₹2.25 Interim Dividend; Q3 Revenue Up 32.5% YoY

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 03 Feb 2026, 06:25 PM

Triveni Turbine Limited has declared an interim dividend of ₹2.25 per equity share for FY 2025-26, fixing February 9, 2026, as the record date. The company reported a strong standalone revenue growth of 32.5% year-on-year, reaching ₹5,840 million for the quarter ended December 31, 2025. Profitability was slightly tempered by a one-time exceptional charge of ₹157 million related to the New Labour Code transition. Additionally, the board has approved the re-appointment of Mr. Nikhil Sawhney as Managing Director for a further five-year term starting May 2026.

Declared interim dividend of ₹2.25 per share (225% of face value) with payment by February 23, 2026.
Standalone revenue from operations increased to ₹5,840 million in Q3 FY26 from ₹4,406 million in Q3 FY25.
Profit before exceptional items and tax rose to ₹1,452 million, up from ₹1,140 million in the corresponding quarter last year.
Recognized a one-time exceptional expense of ₹157 million due to employee benefit obligations under the New Labour Code.
Board approved the re-appointment of Nikhil Sawhney as Vice Chairman and MD for 5 years effective May 10, 2026.

💡 Investors should ensure they hold shares by the February 9 record date to qualify for the dividend and may view the strong revenue growth as a sign of healthy demand in the power equipment sector.

Triveni Turbine Q3 Revenue Up 32.5% YoY to ₹5.84B; Declares ₹2.25 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 06:19 PM

Triveni Turbine reported a strong 32.5% YoY increase in revenue from operations to ₹5,840 million for Q3 FY26. While reported Profit After Tax (PAT) decreased to ₹952 million from ₹1,213 million YoY, this was primarily due to a one-time exceptional charge of ₹157 million related to the New Labour Code and a high base effect from a ₹360 million gain in the previous year. Underlying operational performance remained robust with Profit Before Exceptional Items growing 27.4% YoY. The board also declared an interim dividend of ₹2.25 per share and approved the re-appointment of Nikhil Sawhney as Managing Director for five years.

Revenue from operations grew 32.5% YoY to ₹5,840 million in Q3 FY26 compared to ₹4,406 million in Q3 FY25.
Profit Before Exceptional Items and Tax rose 27.4% YoY to ₹1,452 million, indicating strong core operational efficiency.
Declared an interim dividend of ₹2.25 per equity share (225% of face value) with a record date of February 9, 2026.
Recognized a one-time exceptional expense of ₹157 million in Q3 FY26 due to employee benefit obligations under the New Labour Code.
Board approved the re-appointment of Mr. Nikhil Sawhney as Managing Director for a 5-year term effective May 10, 2026.

💡 Investors should look past the reported PAT decline, which was impacted by non-recurring items, and focus on the healthy 27% growth in operating profits. The combination of strong revenue growth, leadership continuity, and a steady dividend payout makes this a positive update for long-term shareholders.

Triveni Turbine Schedules Q3 & 9M FY26 Earnings Call for February 4, 2026

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 28 Jan 2026, 07:00 PM

Triveni Turbine Limited (TTL) has announced its earnings conference call for the third quarter and nine months ended December 31, 2025, scheduled for February 4, 2026, at 12:30 PM IST. Senior management will be present to discuss the financial performance and provide updates on the company's industrial heat and power solutions business. The call will be conducted virtually, and the company has provided international toll-free numbers for global investors. This is a routine but essential event for shareholders to gauge the company's growth trajectory in the renewable turbine segment.

Earnings conference call for Q3 & 9M FY 2025-26 scheduled for February 4, 2026, at 12:30 PM IST.
Senior management team will participate to discuss financial results and answer analyst queries.
Primary dial-in numbers for the call are +91 22 6280 1141 and +91 22 7115 8042.
International toll-free access provided for Singapore (800 101 2045), Hong Kong (800 964 448), USA (1 866 746 2133), and UK (0 808 101 1573).

💡 Investors should monitor the company's Q3 FY26 financial results release prior to the call and join the session to understand management's outlook on order inflows and execution timelines.

Triveni Turbine Files SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 06:32 PM

Triveni Turbine Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing, dated January 7, 2026, pertains to the quarter ended December 31, 2025. It confirms that physical share certificates received for dematerialization were duly verified, cancelled, and the depository's name was updated in the records. This is a routine administrative procedure handled by the company's Registrar and Share Transfer Agent, Alankit Assignments Limited.

Submission of SEBI Regulation 74(5) certificate for the quarter ended Dec 31, 2025
Confirmation of dematerialization process by Registrar Alankit Assignments Limited
Verification and cancellation of physical share certificates completed
Update of depository names in the company's register of members

💡 This is a routine regulatory filing with no impact on the company's financial health or stock price. No action is required from investors.

Triveni Turbine Allots 4,187 Equity Shares Under ESOP 2023

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Jan 2026, 06:52 PM

Triveni Turbine Limited has announced the allotment of 4,187 equity shares of face value Re. 1 each under its Employee Stock Unit Plan 2023. This allotment follows the exercise of vested options by eligible employees. Consequently, the company's paid-up share capital has increased from Rs. 31,78,86,270 to Rs. 31,78,90,457. The new shares rank pari-passu with existing equity shares, meaning they carry the same rights and benefits.

Allotment of 4,187 equity shares of Re. 1 face value each
Shares issued at an exercise price of Re. 1 per share
Total paid-up share capital increased to 31,78,90,457 shares
The allotment was approved by the Share Allotment Committee on January 5, 2026

💡 No action is required as the equity dilution resulting from this allotment is negligible. This is a routine administrative event related to employee compensation.

Triveni Turbine to Close Trading Window from January 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Dec 2025, 05:14 PM

Triveni Turbine Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the unaudited financial results are officially declared. This is a standard regulatory procedure for listed Indian companies to prevent insider trading during the earnings preparation period.

Trading window closure effective from January 1, 2026
Closure relates to the unaudited financial results for the quarter ending December 31, 2025
Window to reopen 48 hours after the results are announced to the stock exchanges
Applies to all designated persons and their immediate relatives under the Company's Code of Conduct

💡 This is a routine regulatory announcement and does not impact the company's fundamentals. Investors should look forward to the actual Q3 FY26 earnings release for performance assessment.

Triveni Turbine to hold Analysts/Investors Meetings on Dec 18 & 19

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Dec 2025, 05:45 PM

Triveni Turbine Limited will be participating in Analysts' and Investors' meetings in Mumbai on December 18 from 2 p.m. to 4 p.m. and December 19 from 10 a.m. to 5 p.m. These will be physical, group/one-to-one meetings. The company has stated that no Unpublished Price Sensitive Information (UPSI) will be shared during these meetings. Investors should monitor the company website www.triveniturbines.com for any updates.

Analysts/Investors Meetings on December 18 and 19
Meetings in Mumbai
Meeting on December 18 from 2 p.m. to 4 p.m.
Meeting on December 19 from 10 a.m. to 5 p.m.

💡 This is a routine investor relations activity. Investors can monitor the company website for any updates following these meetings.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for Q2 FY26 reached INR 506.2 Cr, a marginal growth of 1.0% YoY. H1 FY26 revenue stood at INR 964.4 Cr, up 9.9% YoY. The Product and Aftermarket segments are seeing growth both domestically and internationally, with record order bookings of INR 652 Cr in Q2 FY26, up 14% YoY.

Geographic Revenue Split

Domestic sales accounted for INR 224 Cr in Q2 FY26, representing approximately 44% of total revenue but declining 20% YoY. Export sales contribute the remaining 56% and are a primary driver of the favorable revenue mix and higher margins.

Profitability Margins

EBITDA margin for Q2 FY26 was 26.3% (up from 26.1% YoY). PAT margin stood at 18.1% for Q2 FY26. H1 FY26 PAT margin was 17.8%, with a net profit of INR 155.8 Cr.

EBITDA Margin

EBITDA margin improved by 60bps YoY to 26.1% in H1 FY26. Core profitability remains resilient due to a higher share of export and aftermarket revenues, which offset lower-margin domestic projects.

Capital Expenditure

The company maintains a debt-free capital structure with no major debt-funded capital expenditure planned. Growth is supported by strong internal accruals and a cash/investment balance of INR 883 Cr as of March 31, 2024.

Credit Rating & Borrowing

The company holds an [ICRA] AA+ (Stable) long-term rating and an [ICRA] A1+ short-term rating. It remains debt-free, resulting in negligible borrowing costs and high financial flexibility.

⚙️ Operational Drivers

Raw Materials

Key materials include steel, castings, forgings, and specialized alloys for turbine manufacturing. Cost of materials consumed in Q2 FY26 was INR 259 Cr, representing 51.2% of total revenue.

Import Sources

Not specifically disclosed in the documents, though the company operates globally for both sourcing and sales.

Key Suppliers

Specific supplier names are not disclosed; the company relies on a network of specialized vendors and subcontractors for manufacturing components.

Capacity Expansion

Current manufacturing capacity is not a constraint for the company; however, the company is focused on managing the capacity of its vendors and subcontractors to meet a high execution target in H2 FY26.

Raw Material Costs

Raw material costs stood at INR 259 Cr in Q2 FY26. Procurement strategies involve leveraging customer advances to fund working capital and managing vendor coordination to mitigate supply chain bottlenecks.

Manufacturing Efficiency

EBITDA margins improved by 60bps in H1 FY26 despite absolute EBITDA pressure, indicating high manufacturing efficiency and a shift toward higher-value product mixes.

📈 Strategic Growth

Expected Growth Rate

14%

Growth Strategy

Growth is driven by a record order book of INR 652 Cr, expansion into international markets, and the introduction of new technologies such as CO2 turbines and heat pumps. The settlement of the GE joint venture dispute allows the company to focus on the high-margin 30-100 MW turbine segment.

Products & Services

Industrial steam turbines (up to 100 MW), CO2 turbines, heat pumps, energy storage solutions, and aftermarket services (spare parts and maintenance).

Brand Portfolio

Triveni Turbines, Triveni Energy Solutions Limited (TESL).

New Products/Services

New products include CO2 turbines and heat pumps aimed at the renewable energy and energy efficiency markets; these are gaining traction and provide a runway for stable future revenue.

Market Expansion

Targeting global markets for steam turbines and expanding the aftermarket business internationally to capitalize on the installed base.

Market Share & Ranking

Maintains a strong market position in the industrial steam turbine segment, particularly in the sub-100 MW category.

Strategic Alliances

Settled a long-standing dispute with JV partners regarding Triveni Energy Solutions Limited (TESL). Subsidiary Triveni Turbines DMCC recently entered into a Share Purchase Agreement for further expansion.

🌍 External Factors

Industry Trends

The industry is shifting toward renewable energy and energy efficiency. Triveni is positioning itself by developing turbines for the thermal renewable segment and high-efficiency heat pumps.

Competitive Landscape

Faces intense competition in the global turbine market, but the resolution of the GE dispute strengthens its competitive positioning in larger turbine segments.

Competitive Moat

The moat is built on a debt-free balance sheet, a negative working capital cycle driven by customer advances, and specialized engineering capabilities in the 30-100 MW turbine range.

Macro Economic Sensitivity

Highly sensitive to industrial capex cycles in sectors like sugar, steel, and cement. Global economic health impacts the 56% export revenue share.

Consumer Behavior

Industrial customers are increasingly demanding energy-efficient and green-energy-aligned power solutions, driving demand for the company's new R&D-led products.

Geopolitical Risks

Trade barriers or geopolitical instability in key export regions could disrupt the growth of the international business segment.

⚖️ Regulatory & Governance

Industry Regulations

Adheres to Secretarial Standards and manufacturing standards for power generation equipment; operations are subject to pollution control norms and export-import regulations.

Environmental Compliance

The company complies with BRSR (Business Responsibility and Sustainability Report) mandates and focuses on products that support the global quest for a greener environment.

Taxation Policy Impact

The effective tax rate is approximately 28.3% based on Q2 FY26 figures (INR 36.1 Cr tax on INR 127.5 Cr PBT).

Legal Contingencies

Successfully settled the dispute regarding Triveni Energy Solutions Limited (TESL) with former JV partners, removing a significant hurdle for growth in the 30-100 MW segment.