Triveni Turbine stock soars over 11% on stellar performance in Q2, up nearly 900% in 4 years
Triveni Turbine shares rose 11.2% to ₹695 after reporting record quarterly revenue of ₹501 crore and a 42% increase in profit. The company's order book reached ₹1,796 crore, driven by strong export sales, indicating robust future growth prospects.
Stock Market Today: Shares of Triveni Turbine, a company that manufactures and supplies power-generating equipment and solutions, surged 11.2% to ₹695 per share in early morning trade on Tuesday, November 12. This rise follows the company’s strong performance for the quarter ended September 2024 (Q2 FY25).
With today's rally, the stock snapped its three-day losing streak. On Monday, the company reported its highest-ever quarterly revenue and EBITDA, along with a record closing order book.
It reported revenue from operations of ₹501 crore, which is a 29% improvement from ₹388 crore reported in the same period last year. Domestic sales increased by 32% to ₹279 crore, while export sales grew by 26% to ₹222 crore.
EBITDA increased by 47% to ₹131 crore in Q2 FY25, compared to ₹88.9 crore in Q2 FY24. EBITDA margins increased by 320 basis points to 26.1% in Q2 FY25, up from 22.9% in the corresponding quarter last year.
Profit after tax grew 42% year-on-year (YoY) to ₹91 crore during the quarter. The company achieved order bookings of ₹572 crore in Q2 FY25, compared to ₹459 crore in Q2 FY24, marking a growth of 25%, driven by export order bookings that grew by 50% year-on-year to ₹304 crore.
Domestic order booking stood at ₹268 crore, registering a 4% YoY increase during the quarter. Export order bookings contributed 53% to overall order bookings in Q2 FY25, positioning the company well for profitability and helping generate new business inquiries.
The total consolidated outstanding order book stood at a record ₹1,796 crore as of September 30, 2024, up 22% compared to the previous year, with export outstanding order book accounting for 60.52%, as per the company's Q2FY25 earnings filing.
The company expects to maintain robust business performance in the medium term, supported by a substantial backlog of orders in renewable, API, and IPG (Industrial Power Generation) turbines, along with successful market expansions.
It also mentioned that the aftermarket business shows promising growth prospects, bolstered by an expanding range of offerings, including spare parts, services, and refurbishments, designed to cater to a broader customer base of rotating equipment, including steam turbines, gas turbines, utility turbines, and geothermal turbines.
The company is confident that leveraging these opportunities, both domestically and internationally, will enable it to maintain growth and profitability in the coming years.
Stock up 882% in 4 years
Over the last four years, the company's shares have surged from ₹69.90 apiece to the current trading price of ₹687, resulting in an impressive gain of 882%. The stock has delivered positive returns every year since CY2020, with a notable 131% return in CY2021. In the following two years, the stock gained 38% and 63%, respectively.
So far in the current year, the stock has risen by an additional 63% and reached an all-time high of ₹844 per share in August.
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