Shares of Triveni Turbine jumped 6 percent on May 17 as the company said it clocked the highest ever annual revenue, EBITDA and order booking along with a record closing order book providing visibility for FY24.
At 10:22 am, the stock was quoting at Rs 384.85, up Rs 0.80, or 0.21 percent.
The company has logged its highest ever revenue for FY23 at Rs 12.48 billion, up 46 percent YoY and also achieved its highest ever EBITDA for the year at Rs 2.76 billion, up 44 percent YoY.
Triveni Turbine clocked its highest ever annual order booking of Rs 16.05 billion during FY23, up 36 percent YoY with a record outstanding carry forward order book as on March 31, 2023 of Rs 13.28 billion, an increase of 37 percent YoY.
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In the product segment, finalisation of orders from industrial customers followed by power producers and API drive turbines led to the higher order booking growth in the year, the company said in a press release. The company received orders from 27 countries as compared to 22 in the previous financial year. Product order booking for FY23 increased by 22 percent YoY to Rs 11.43 billion, highest in the company’s history, it added.
The company witnessed strong contribution in the domestic market from sectors such as sugar, distillery, food processing, pulp & paper, chemicals and waste heat recovery (comprising steel and cement). In the international market, Triveni Turbine was able to close key milestone orders in both small and large power ranges of turbines from regions like Europe, Africa, Central & South America and North America, the company added.
Meanwhile, quarterly performance was also strong. The steam turbines manufacturer has reported a 68 percent YoY growth in consolidated profit at Rs 55.51 crore for quarter ended March FY23 on healthy operating performance and topline growth. Revenue stood at Rs 369.8 crore, up 56 percent over a year-ago period.
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