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.