Sharekhan's research report on Triveni Turbine
Triveni Turbine Limited (TTL) reported in-line Q1 results on the topline and bottom-line front driven by strong opening order book and low base. Order booking during the quarter was the highest ever at Rs. 358 crore (up 31% y-o-y). Given order book of Rs. 1,070 crore and large enquiry pipeline, the company aims 35% revenue growth for the next couple of years. The company’s entry into new segments, such as API turbines and turbines of more than 30 MW, would increase its net addressable market.
Outlook
Given strong revenue guidance and optimistic future growth trajectory in terms of product and market expansion, we retain Buy on TTL with a revised PT of Rs. 235.
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Triveni Turbine - 030822 - khan
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