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Triveni Turbine lists after demerger from Triveni Engg
Triveni Turbine, a subsidiary of Triveni Engineering, got listed today after its demerger from the parent. It touched a high of Rs 45 and a low of Rs 30 after opening at Rs 43.50 on the National Stock Exchange today.
Triveni Turbine , a subsidiary of Triveni Engineering , got listed today after its demerger from the parent. It touched a high of Rs 45 and a low of Rs 30 after opening at Rs 43.50 on the National Stock Exchange today.
At 10:55 hours IST, the share was trading at Rs 35.50, down Rs 64.15, or 64.38%.
Triveni Engineering (which is into the business of sugar, water treatment and high-speed gear divisions) holds 21.8% stake in Triveni Turbines.
Triveni Turbine has reported a net sales of Rs 182 crore and profit after tax of Rs 24.3 crore in the July-September quarter of 2011. The company has debt of Rs 60-70 crore on its books while total debt of the group as on September stands at Rs 930 crore.
The company has a capacity to produce 80-100 steam turbines a year and its manufacturing facility is located in Bangalore. The current order book stands at Rs 469 crore.
Triveni Turbines sells steam turbines to industries with 75% share in the up to 15MW range and 30% share of the relatively new 15-30MW range.
It plans to add capacity to make 100-150MW turbines and also sell in global markets.
Its export order inflow has been strong and the GE JV is pursuing opportunities worth USD 200 million.
Management is confident of a CAGR of 20-25% in revenue over the medium to long term.
