Buy Triveni Turbines; target of Rs 140: Edelweiss

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Edelweiss's research report on Triveni TurbinesTriveni Turbine (TTL) reported robust revenue growth of 31% during Q3FY16, surpassing our and consensus’ 27% estimate. The outperformance was primarily due to increase in domestic dispatches, even though exports revenue was weak due to deferment of revenue worth INR 450mn (turbine deliveries-INR 300mn and aftermarket sales- INR 150mn). EBITDA margin dipped 50bps to 20.7% primarily due to higher CSR & marketing expenses and postponement of INR150mn after market revenues which have higher margins. Order intake improved 17% YoY to INR2bn led by higher product orders in the exports market. TTL continues to clock strong traction in waste to energy and CCP segment, in overseas market, a key driver of the company’s order intake. We remain positive on TTL’s business scalability and strong financial health. Maintain ‘BUY’ with revised TP of INR 140 (from INR 125) as we introduce and roll over our valuations on FY18E. We estimate strong EPS CAGR of 23% over FY15-18 led by TTL’s sharpening focus on exports and geographical footprint expansion, instilling confidence of robust order booking in ensuing quarters. We maintain ‘BUY’ with revised TP of INR 140. The stock currently trades at a P/E of 21x and 18x FY17E and FY18E consol EPS, respectively. For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More