Buy Triveni Turbine; target of Rs 750: Sharekhan

Sharekhan is bullish on Triveni Turbine has recommended buy rating on the stock with a target price of Rs 750 in its research report dated May 12, 2025.

Broker Research

May 16, 2025 / 14:59 IST

Buy

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Volume

Todays L/H

Sharekhan's research report on Triveni Turbine

PAT rose 24% y-o-y to Rs. 95 crore, supported by strong revenue growth of 18% y-o-y and OPM improvement of 277 bps to 22.4%. A 27% rise in exports drove revenue growth, whereas domestic sales meagerly grew by 8%. Aftermarket business turnover of Rs 144 crore was flat. Product segment’s revenues were at Rs 393 crore growing by 25%. Overall exports contributed 52% to total revenue. Order book rose 23% y-o-y to Rs. 1,909 crore, with an export order book rising 36% y-o-y to Rs. 1,092 crore. Domestic also posted a growth of 9% to Rs 817 crore due to an NTPC order of Rs 290 crore. Order inflow remained robust on the exports front, with strong prospects in the US and Southeast Asia.

Outlook

Global focus on renewable energy, waste-to-heat recovery, a robust order book, and margin tailwinds bode well for the company. We model a revenue/PAT CAGR of 26%/27% over FY2024-FY2027E. We reiterate a Buy rating with a PT of Rs. 750.

For all recommendations report, click here