Triveni Turbine (TRITURBINE) Q3 24/25 earnings summary

Executive summary

• Achieved record quarterly and nine-month revenue and EBITDA in Q3/9M FY25, with consolidated Q3 revenue at INR 5.03 billion and 9M revenue at INR 14.68 billion, up 17% and 23% year-over-year respectively.

• Export sales surged 31% year-over-year in Q3, now comprising 49% of total sales, while export order booking in Q3 grew 9% and contributed 66% of total order booking.

• Profit after tax for Q3 reached INR 926 million, up 36% year-over-year; 9M PAT was INR 2.64 billion.

• Interim dividend of INR 2 per share declared for FY 2024-25, a 54% increase, payable on or before February 17, 2025.

• Secured a Notice of Award for a 160 MWh CO2-based long-duration energy storage system at NTPC's Kudgi STPP, valued at INR 2.9 billion.

Financial highlights

• Q3 EBITDA rose 30% year-over-year to INR 1.31 billion, with margins improving by 217 basis points to 26.1%.

• Nine-month revenue grew 23% year-over-year to INR 14.7 billion; EBITDA up 38% with margins at 25.7%.

• Aftermarket sales grew 22% year-over-year to INR 1.8 billion in Q3; product sales increased 14% to INR 3.3 billion.

• Order book as of December 31, 2024, stood at INR 18.19 billion, up 15% year-over-year.

• Cash and investments stood at INR 8,831 million as of March 31, 2024.

Outlook and guidance

• Strong order and inquiry books provide visibility for the next couple of years, with export momentum supporting future revenues and profitability.

• Confident in maintaining robust business performance and growth in both product and aftermarket segments.

• Focus remains on operational efficiency, global market expansion, and sustainable solutions aligned with energy transition trends.