Export strategy shaping up well; growth levers intact

Company
11 Mar 2024
5 Min read 
  • Triveni Turbine reported strong YoY growth in revenue, EBITDA, and PAT in 3QFY24.
  •  Order inflow growth was driven by exports, while domestic inflows were weak.
  •  The company's market leadership position and higher share of exports and aftermarket are positive factors.
  •  Triveni Turbine is expanding its geographical presence and increasing its share of exports and aftermarket.
  •  The company is witnessing healthy demand for API turbines and expects strong growth in PAT over FY23-26.
  •  The stock is currently trading at 41X/31X FY25E/26E P/E and has a revised TP of INR540.
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