Triveni Turbine shares slip 9% on weak Q1; order delays, export weakness drag performance

Triveni Turbine shares are down 26 percent since the beginning of the year.

Shares of Triveni Turbine slumped as much as 9 percent to Rs 540 on Tuesday, August 5, after the company posted a weak set of earnings for the June quarter, marred by sluggish domestic and export performance.

In Q1 FY26, the turbine maker’s consolidated revenue dropped 20 percent year-on-year to Rs 371.3 crore, down from Rs 463.3 crore in the same period last year. Both key business segments struggled—domestic revenue fell 24 percent to Rs 188.2 crore, while exports slipped 15 percent to Rs 183.1 crore.

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Despite pressure on the top line, other income rose 14 percent year-on-year to Rs 22.2 crore. Gross margin improved slightly to 52.17 percent, up 32 basis points from a year ago. However, operating performance remained under strain—EBITDA declined 23 percent to Rs 73.6 crore, with margins narrowing to 19.8 percent, down 81 basis points. Net profit also shrank 20 percent year-on-year to Rs 64.4 crore.

The management attributed the weak quarter to geopolitical uncertainties, which disrupted operations by delaying inspections and pushing order dispatches into later quarters. Export-linked demand also remained subdued, both for equipment and aftermarket services. A high base from last year—boosted by large export orders—further skewed the year-on-year comparison.

Calling it a "challenging quarter," Chairman and MD Dhruv Sawhney acknowledged the results fell short of expectations but said the company is actively working to recalibrate operations. He remained optimistic about Triveni's long-term growth path, despite near-term headwinds.

At about 12:50 pm, shares of the company were trading at Rs 551, lower by 7 percent from the last close on the NSE. Triveni Turbine shares are down 26 percent since the beginning of the year.

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