Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

Buy Triveni Turbine: target of Rs 144: Sharekhan

Sharekhan is bullish on Triveni Turbine has recommended buy rating on the stock with a target price of Rs 144 in its research report dated June 29, 2021.

June 30, 2021 / 01:11 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Triveni Turbine

Triveni turbine reported revenue/ EBITDA/ PAT of Rs. 179 crore/ Rs. 25 crore/ Rs. 23 crore (up 16% y-o-y/ up 38%/ up 69%), respectively. OPM expansion was driven by increased contribution by aftermarket sales in overall sales mix. The management expects both domestic and global market share to improve in the short to medium term, driven by resurgence in global activity *after* the pandemic-led lull, supported by a strong order enquiry in domestic and international markets. Balance sheet remains strong with strong cash position and current order book remaining healthy at 0.9x its FY2021 consolidated revenue.

Outlook

We retain a Buy rating on Triveni Turbine Limited (TRIV) with a revised PT of Rs. 144, considering healthy enquiry pipeline in both domestic and export markets, besides improving global economic scenario, which helped demand improve.