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Prabhudas Lilladher Report
Triveni Turbine Ltd. reported Q3 FY22 numbers broadly in-line with our estimates led by strong revenue growth in domestic market, while exports were impacted due to travel restriction.
Enquiry pipeline continues to grow strong at 23% YoY for domestic market and 68% YoY for export market. Given strong enquiry generation, Triveni Turbine is confident of reporting healthy order inflow for FY23 mainly from sectors like cement, steel, distillery, pharma, pulp and paper, food and beverage etc.
While with three large breakthrough order win in 30-100 mega watt segment (from South Korea), we expect this segment to scale up in coming period, given its strong technical expertise.
With increasing contribution from export market backed with cost optimisation imitative margins are expected to remain stable at ~21% going ahead.
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