Triveni Turbine Ltd

The document does not mention any current or planned fundraising through debt or equity for Triveni Turbine. Key points regarding capital and finances are: - The company maintains a disciplined approach to capital deployment and liquidity management. - Trade receivables increased due to execution profile and billing timelines but are expected to dilute in subsequent quarters. - Negative working capital position is maintained consistently at balance sheet dates. - There is no explicit indication or discussion of plans for raising funds through debt or equity in the current or future period. - The focus appears to be on organic growth through order book expansion, innovation, and execution rather than external fundraising.

- 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). - Aftermarket business scale-up indicates continuous investment in servicing capabilities and repair parts manufacturing. - No concrete financial capex figures or timelines are provided in the discussed pages; the focus is on innovation, market expansion, and technology validation.

- 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. - Aftermarket business scale-up offers sustainable revenue growth, especially refurbishment services in new geographies. - Large project-based orders may lead to lumpiness in quarterly revenue, with H2 FY '27 expected to be stronger.

- 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. operations are expected to improve profitability with a break-even target around FY '27.

- 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. - Order book spread globally with growth in Europe, Southeast Asia; Turkey saw a slight decline in visibility. - Growth expected from diverse industries including thermal power, cement, steel, process cogeneration, and renewables.