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Triveni Turbine Ltd

Q4 FY26Electrical Equipment

Triveni Turbine Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹575
Market cap₹19.8K Cr
P/E54.9
Updated23 Aug 2026
Read6 min read

The short version

The enquiry book has nearly doubled over the past year, indicating strong potential growth. The company anticipates continued growth in order booking driven by a diverse geographic spread and multiple industries, including steam turbine and new rotating equipment solutions (CO2-based and organic Rankine cycle turbines). - Enquiry book has nearly doubled over the past year, signaling strong future demand, particularly from the U.S., India, and global markets. - Growth in export revenue (up 30% YoY) supports revenue growth and profitability. - EBITDA margins are expected to remain stable around a long-term mean of approximately 25%, with some quarter-to-quarter volatility due to product mix and strategic low-margin orders. - Aftermarket services, which have higher profitability, are growing and expected to contribute positively to earnings. - Currency volatility may cause mark-to-market losses but will likely be adjusted in future quarters. - The company refrains from explicit EPS guidance but projects at least a 9% growth in enquiry closure, indicating minimum revenue and profit growth. - U.S.

From Triveni Turbine Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • The enquiry book has nearly doubled over the past year, indicating strong potential growth.
  • India’s domestic market enquiry book has increased about 100% to approximately 7 GW.
  • The North American enquiry book grew nearly 1,000%, driven by data centers, combined cycle, and renewables like geothermal.
  • Export orders now contribute 51% to the closing order book, with expectations of exports exceeding domestic revenue in FY '27.
  • Growth is expected from diverse geographic regions, including Africa, U.S., and Southeast Asia.
  • New product introductions and technology innovations, such as CO2 turbines and Organic Rankine Cycle turbines, are positioned for future growth.
  • Order booking growth is anticipated at a minimum of 9% for FY '27, with potential for higher growth.

2 more points management made on revenue & sales performance

Profitability & Margins

See what Triveni Turbine Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • There is no explicit mention of specific current or future capex or capital investment plans detailed on Page 27.
  • The company is focused on growing its top line rather than margin expansion and invests in innovation and R&D (7.5% workforce in R&D, 8% in engineering).
  • Ongoing strategic developmental projects include validation of subcritical carbon dioxide turbine technology, linked to energy storage applications.
  • Emphasis on expanding geographic presence (e.g., large growth in North American enquiry book) and product portfolio (including steam turbines, CO2 turbines, organic Rankine cycle turbines).

2 more points management made on capital expenditure plans

Top-ranked in Electrical Equipment

Ranked on what management guided this quarter

5x potential
1Waaree Energies
Rev 1Mar 1
2MTAR Technologie
Rev 1Mar 1
3
Rev 1Mar 1
4
Rev 1Mar 2
5
Rev 1Mar 2
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Triveni Turbine Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • Closing order book for FY '26 stood at ₹20.54 billion, an 8% year-on-year increase.
  • Q4 FY '26 order booking was ₹7.54 billion, up 19% YoY, driven by domestic and international markets.
  • Export orders in Q4 FY '26 hit a record ₹5.16 billion, a 174% YoY growth, contributing 69% of total order booking.
  • Aftermarket business orders grew 121% YoY in Q4, making up 50% of total order booking.
  • Enquiry book nearly doubled over the past year, with current product segment enquiry at about 18 GW.
  • Indian market enquiry book increased ~100% to about 7 GW.
  • Significant growth in North America enquiry book (~1,000% increase), driven by data centres, combined cycle, renewables, geothermal.

2 more points management made on order book & pipeline

Triveni Turbine Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹680 Cr, net profit ₹102 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What Triveni Turbine's management said in earlier quarters

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Frequently Asked Questions

What were Triveni Turbine Ltd Q4 FY26 results?

The enquiry book has nearly doubled over the past year, indicating strong potential growth. The company anticipates continued growth in order booking driven by a diverse geographic spread and multiple industries, including steam turbine and new rotating equipment solutions (CO2-based and organic Rankine cycle turbines). - Enquiry book has nearly doubled over the past year, signaling strong future demand, particularly from the U.S., India, and global markets. - Growth in export revenue (up 30% YoY) supports revenue growth and profitability. - EBITDA margins are expected to remain stable around a long-term mean of approximately 25%, with some quarter-to-quarter volatility due to product mix and strategic low-margin orders. - Aftermarket services, which have higher profitability, are growing and expected to contribute positively to earnings. - Currency volatility may cause mark-to-market losses but will likely be adjusted in future quarters. - The company refrains from explicit EPS guidance but projects at least a 9% growth in enquiry closure, indicating minimum revenue and profit growth. - U.S.

What is Triveni Turbine Ltd share price analysis?

Triveni Turbine Ltd currently shows a neutral. The stock trades at a P/E of 54.9 with a market cap of ₹19,819 Cr. Investors should review the full earnings analysis for detailed insights.

Is Triveni Turbine Ltd planning capital expenditure?

There is no explicit mention of specific current or future capex or capital investment plans detailed on Page 27.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.