Sharekhan's research report on Triveni Turbine
Our interaction with Triveni Turbine Limited (TTL) reaffirms our bullish stance on the company, given its foray into high-margin API turbines, scaling up of 30-100 MW segment, and renewable energy orders driving its core business. The company aims ~35% revenue growth for the next couple of years, led by strong order book of Rs. 1,070 crore and large enquiry pipeline in both India and international markets. TTL leads with a market share of 50-60% in the 0-30 MW segment in India with industry-leading margin. In the international addressable market, TTL has a share of ~20%. The addressable global market size for 0-30 MW is 1.5x Indian market.
Outlook
We retain Buy on TTL with a revised PT of Rs.280 (based on September FY2024E EPS), considering strong revenue guidance and promising future growth trajectory.
More Info
At 17:30 Triveni Turbine was quoting at Rs 231.45, up Rs 1.95, or 0.85 percent.
It has touched an intraday high of Rs 234.75 and an intraday low of Rs 227.00.
It was trading with volumes of 146,492 shares, compared to its five day average of shares, a decrease of percent.
It was trading with volumes of 146,492 shares, compared to its thirty day average of shares, a decrease of percent.
In the previous trading session, the share closed down 0.54 percent or Rs 1.25 at Rs 229.50.
The share touched its 52-week high Rs 248.20 and 52-week low Rs 132.75 on 21 September, 2022 and 28 September, 2021, respectively.
Currently, it is trading 6.75 percent below its 52-week high and 74.35 percent above its 52-week low.
Market capitalisation stands at Rs 7,482.91 crore.
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