Triveni Turbine drops after Q1 PAT declines 21% YoY to Rs 51 cr
EBITDA stands at Rs 79.7 crore, down by 16.8% YoY. Margins contracted 18% in Q1 FY27 as against 25.8% in Q1 FY26, impacted on account of unfavorable mix and certain on-going strategic orders.
Domestic revenue increased 27.4% YoY, while export revenue rose 10.8% YoY. Exports contributed 45.8% of total revenue during Q1 FY27, compared with 49.3% in the corresponding quarter last year.
Order booking increased 6.1% YoY to Rs 568 crore during the quarter, with growth driven entirely by exports and the aftermarket business. Domestic and product order bookings declined 35.4% and 11.6%, respectively, on a YoY basis.
Export order booking surged 53.4% YoY to Rs 384 crore, accounting for 67.6% of total order booking. The company witnessed continued traction across Southeast Asia, Africa and Europe, particularly in biomass and waste-to-energy applications. Aftermarket order booking also increased 53.4% YoY to Rs 224 crore. The outstanding order book stood at Rs 2,180 crore as of Q1 FY27, registering a 5.1% YoY increase and providing visibility for revenue execution in the coming periods.
The company described Q1 FY27 as a challenging quarter but said it delivered healthy topline growth supported by execution across key businesses and a strong order backlog. It maintained a positive outlook for revenue and profitability in H2 FY27, supported by its healthy order book.
Triveni Turbine said rising global electricity demand and the transition towards cleaner and more energy-efficient power systems continue to provide a favorable long-term growth environment. The company sees opportunities across biomass, waste-to-energy, geothermal, data centres and small modular reactor (SMR) nuclear applications, along with continued investments across domestic and international industrial sectors.
While the evolving geopolitical environment, particularly disruptions in West Asia, may lead to nearterm volatility and quarterly fluctuations in order inflows and execution timelines, we remain confident of sustaining growth momentum through the year, supported by our diversified market presence, healthy enquiry pipeline, and strong execution capabilities.
Commenting on the performance of the company, chairman & managing director, Triveni Turbine, said, ?As we had expected, the quarter remained challenging. We delivered revenue growth of 19.2% Y-o-Y, with Revenue from Operations at Rs 443 crore. Order execution reflects the business environment and order intake of around a year ago. Margins during the quarter were impacted by an unfavorable mix, price escalation, and the delivery phasing of some strategic orders. Deliveries of certain large projects are spread across quarters, and the quarter?s revenue also included the balance bought-out scope of these projects.
The underlying business nonetheless continued to strengthen. The growing global emphasis on energy efficiency, decarbonization, renewable thermal solutions, and decentralized power generation continues to create a strong and sustained demand environment across key markets of Southeast Asia, Africa and North America.
A diversified enquiry pipeline, international demand across oil & gas, biomass, waste-to-energy, utility, geothermal, and process co-generation segments, and a domestic base across steel, cement, sugar, and distillery enhances our visibility for the coming periods. While the evolving macroeconomic situation, particularly geopolitical uncertainties in the West Asia region, may cause near-term fluctuations, our diversity across geographies and segments, positions us well to mitigate near-term risks and capitalize on emerging opportunities, giving us the confidence to sustain year on year business growth and margin recovery in the latter half of FY27.?
Triveni Turbine (TTL) is a globally established provider of industrial heat and power solutions, as well as decentralized and sustainable energy systems. The company offers high-efficiency, reliable, and customized solutions that help industries optimize energy consumption, improve operational efficiency, and reduce their carbon footprint.
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