The ability to provide high tech precision, engineered -to-order solutions has made Triveni Turbine (TTL) one of the most trusted brands in the engineering and capital goods sector. TTL came into existence in October 2010 when Triveni Engineers Industries demerged its steam turbines business into TTL. The turbines business was started in 1970 and the company has successfully maintained its dominance over the years. Among the world’s largest manufacturers of customised industrial turbines of up to 30 MW, TTL also accounts for 64 per cent domestic market share.

Global advantage

At present, over 2,500 steam turbines supplied by TTL have been installed across 18 industries in over 50 countries in Europe, Africa, Central and Latin America, Southeast Asia and SAARC countries. TTL operates in higher capacity turbines segment through its subsidiary GE Triveni, a joint venture with General Electric. This has helped the company gain technical expertise and global recognition.

Though the domestic market has remained subdued in the last three years, TTL’s exports have witnessed a compound annual growth of 50.5 per cent over FY 2012-15 to reach Rs.264.4 crore. This is due to the company’s efforts to enter new markets and deliver quality products and services at competitive rates. Its exports are mainly to biomass and other renewable sectors. TTL has also done well in the aftermarket business. The order book in Q1FY16 reflects a y-o-y growth of 36 per cent.

Key statistics

The consolidated revenue growth was 25.6 per cent at Rs.650.77 crore in FY15 against Rs.517.95 crore in FY14. The consolidated profit after tax (PAT) saw a growth of 39.6 per cent from Rs.66.77 crore in FY14 to Rs.93.2 crore in FY15. The export turnover went up by 41 per cent in Q1FY16 to Rs.40.6 crore and its proportion to total sales rose to 33 per cent. TTL’s outstanding order book as on June 30, 2015 stood at Rs.665 crore, a growth of 10 per cent over the previous year. The company’s scrip has churned out returns of 85.4 per cent from January 2013 till September 7, 2015. Its 40 years of experience in turbine manufacturing along with GE’s branding in the international market augurs well for investors with a long-term horizon.

himali@outlookindia.com