Triveni Turbine Ltd — earnings calls

Triveni Turbine reported Q1 FY27 revenue of ₹4.43 billion, up 19.2% year-on-year, while EBITDA margin fell to 18% from 25.8% and PBT margin declined to 15.7% from 23.5% a year earlier. Management attributed the margin decline to a softer order mix executed from H1 FY26, near-zero-margin execution on the NTPC CO2 energy storage project, and deferral of export dispatches due to a 3-4x rise in freight rates. Order booking grew 6.1% year-on-year to ₹5.68 billion, led by exports and aftermarket, while domestic and product order booking declined, and the closing order book rose 5.1% to ₹21.8 billion.

Triveni Turbine reported FY26 revenue of ₹21.81 billion, up 9% year-on-year, with Q4 FY26 revenue at a record ₹6.8 billion, up 26% year-on-year, driven by strong export growth. EBITDA margin for the year stood at 24.2% while profit after tax declined 3% due to an exceptional charge related to the new wage code. Management described order booking growth of 19% year-on-year in Q4, a near doubling of the enquiry pipeline over the past year, and highlighted growing traction in export markets, aftermarket services, and new product segments such as geothermal and organic Rankine cycle turbines.