Triveni Turbine Limited · NSE:TRITURBINE
Triveni Turbine — Q3 FY24 Earnings Presentation
47 slides from Triveni Turbine's earnings presentation, Feb 5, 2024
Slide 1: Triveni Turbine Limited exchange filing cover letter
# · PIVII TURBINES TRIVENI TURBINE LIMITED CORPORATE OFFICE 6 Floor, Express Trade Towers, 15-16, Sector-16A, Noida - 201301, U.P., India T.: +911204308000 I F: +91 120 4311010-11 www.triveniturbines.com By_E-filing REF:TTL:SE: Date: February 05, 2024 The Deputy General Manager The Asst. Vice Presid
Slide 2: Key Highlights
Registered office: A-44, Hosiery Complex, Phase-II, NOIDA 201 305, Uttar Pradesh Corporate office: Express Trade Towers, 8th floor, Plot No.- 15-16, Sector 16A, Noida 201301 Manufacturing Facility: 12A, Peenya Industrial Area, Peenya, Bengaluru 560 058 CIN : L29110UP1995PLC041834 Key Highlights: ➢ Q
Slide 3: Performance Summary (Consolidated)
Performance Summary (Consolidated) (All figures in ₹ million, unless otherwise mentioned) Q3 FY 24 Q3 FY 23 % Change 9M FY 24 9M FY 23 % Change Revenue from Operations 4,317 3,258 32.5% 11,959 8,778 36.2% EBITDA 1,009 750 34.5% 2,741 1,976 38.7% EBITDA Margin 23.4% 23.0% 22.9% 22.5% Depreciation & A
Slide 4: Chairman commentary: product and aftermarket demand
alternative, coupled with Government initiatives and incentives which make it a compelling space for strategic investments. During Q3 FY 24, we continued to witness healthy demand for products both in domestic and international markets. As a result, order booking for product segment in Q3 FY 24 incr
Slide 5: Q3 FY 24 Performance Review
consolidated results also include the results of domestic wholly owned subsidiary namely Triveni Energy Solutions Limited (TESL) (formerly known as GE Triveni Limited). Q3 FY 24 Performance Review: • During the quarter under review, revenue from operations grew by 33% as compared to previous year to
Slide 6: 9M FY 24 Performance Review
9M FY 24 Performance Review: • 9M FY 24 revenue from operations grew by 36% year-on-year to ₹ record 11.96 billion. • Domestic sales increased by 27% to ₹ 6.49 billion while the export turnover increased by 50% to ₹5.47 billion. • In 9M FY 24, the mix of domestic and export sales improved in favour
Slide 7: Summary of Consolidated Order book
Summary of Consolidated Order book (All figures in ₹ million, unless otherwise mentioned) Particulars Q3 FY 24 Q3 FY 23 % Var 9M FY 24 9M FY 23 % Var Opening Order Book Domestic 8,410 6,463 30% 7,789 5,383 45% Exports 6,348 4,906 29% 5,493 4,320 27% Total 14,758 11,369 30% 13,282 9,703 37% Mix of Ex
Slide 8: About Triveni Turbine Limited
About Triveni Turbine Limited Triveni Turbine Limited (TTL) is a focused, growing and market-leading corporation having core competency in the area of industrial heat & power solutions and decentralized steam-based renewable turbines up to 100 MW size. The Company is amongst the leading manufacturer
Slide 9: Standalone unaudited financial results
TRIVENI TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, U.P. - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 CIN · L29110UP1995PLC041834 Statement of standalone unaudited financial results for quarter and nine months en
Slide 10: Notes to standalone financial results
TRIVENI TURBINE LIMITED Notes to the standalone unaudited financial results for the quarter and nine months ended December 31, 2023 1 The Company primarily operates in a single reportable segment - Power Generating Equipment and Solutions. 2 The Board of Directors of the Company have approved paymen
Slide 11: Consolidated unaudited financial results
TRIVENI TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, U.P. - 201 305 Corp. Office : 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 CIN· L29110UP1995PLC041834 Statemen t of consolid ated unau d ited finan ci al resu lts for th e qu arter an
Slide 12: Notes to consolidated financial results
TRIVENI TURBINE LIMITED Notes to the consolidated unaudited financial results for the quarter end and nine months ended December 31, 2023 1 The Company and its subsidiaries (together referred to as the 'Group'} primarily operate in a single reportable segment - Power Generating Equipment and Solutio
Slide 13: Q3 / 9M FY 24 Investor Presentation, February 2024
Imagine. Innovate. Inspire Investor Presentation Q3 / 9M FY 24 February 2024
Slide 14: Contents
Contents 01 Global and Domestic Overview 03 02 Company Overview 08 03 Q3 / 9M FY 24 Performance Review 21 04 FY 23 Performance Review 25 05 Shareholding Pattern 31 2
Slide 15: Global and Domestic Overview
Global and Domestic Overview
Slide 16: Global Energy Consumption Is Driven By Heating and Cooling
Global Energy Consumption Is Driven By Heating and Cooling Thermal energy uses, which include space and water heating, space cooling, and industrial process heat, represent more than half (51%) of Global Total Final Energy Consumption Source: : Renewables 2022 Global Status Report 4
Slide 17: Industry as a sector is one of the largest energy users
Industry as a sector is one of the largest energy users globally The industry sector is one of the largest energy users, accounting for 29% of Global Total Final Energy Consumption Source: : Renewables 2022 Global Status Report 5
Slide 18: Overall Global Steam Turbine Market Has Been Declining
Overall Global Steam Turbine Market Has Been Declining Over The Years… Overall Global Steam Turbine The global steam turbine market Market (in GW) declined from 131 120 115 109 115 GW in 2012 to 90 74 GW in 2022 68 60 60 55 74 46 a decline of 4% p.a. yearly during 2012 - 22 2012 2013 2014 2015 2016
Slide 19: Below 100 MW Segment Largely Flat
…However Below 100 MW Segment where Triveni Turbines operates is largely flat Steam Turbine Market Below 100 Steep Decline in over 100 MW MW (in GW) segment from 106 GW to 66 GW CAGR 13.3 -0.1% p.a. translating to -5% p.a. 12.2 12.5 10.8 11.0 11.9 9.5 9.7 12.1 8.9 8.8 …while below 100 MW where Trive
Slide 20: Company Overview
Company Overview
Slide 21: Triveni Turbines at a Glance
Triveni Turbines at a Glance Top 2 globally in its addressable market* One of the leading players in the domestic market 50 years of designing, manufacturing & supplying Global presence in >80 industrial steam turbines countries Industrial and Closing Order Book: Renewable Heat and Power ₹15.8 bn as
Slide 22: Key Growth Drivers
Key Growth Drivers Energy Increasing Industrial Global 01 02 03 Transition Energy Demand Leadership Strong Execution Engineering 04 Innovation & Technological 05 06 Advancements Capabilities Excellence Focus on 09 Refurbishment 07 Diverse Customer Base Sustainability 08 Solutions and Market Presence
Slide 23: Our Founding Principles
Our Founding Principles Impact Product Quality Technology ▪ Aims to make a positive impact to ▪ Best-in-class manufacturing at ▪ Consistent R&D of technology to surpass all our stakeholders two-world class facilities at Peenya customer needs and keeping up with and Sompura in Bengaluru changing busi
Slide 24: Our Founding Principles
Our Founding Principles Ethics Strong Relationships Sustainability ▪ Professional and transparent ▪ Sustainable solutions that create a ▪ Supports environment sustainability with business practices high degree of value for our significant focus on thermal efficiency customers improvements ▪ Strong f
Slide 25: Continued ESG Focus
Continued ESG Focus Environmental Social Governance ▪ Manufacturing Facilities at both ▪ Educational initiatives such as ▪ Board comprises of 10 members which Peenya and Sompura are Green sponsorship on education and include 5 Non-Executive Independent Factories training programmes for Directors inc
Slide 26: A Differentiated Product Portfolio Catering To Wide Range Of Applications
A Differentiated Product Portfolio Catering To Wide Range Of Applications Power Generation Combined Heat & Drive Applications Upto 100 MW Applications Power • Petroleum Condensing Steam Turbines Independent Power Applications Refineries Producers (IPP) Industrial Segments • Chemicals • Straight Cond
Slide 27: Strong Global Footprint
Strong Global Footprint 80 Countries of Presence 15
Slide 28: A Diversified Base Of End Use Industries
A Diversified Base Of End Use Industries Sugar Chemicals Solvent Extraction Distilleries Oil & Gas Metals Steel Pulp & Paper Palm Oil Cement Petrochemicals Food Processing Textiles Fertilisers …and many more! 16
Slide 29: Supplying turbine solutions to renewable energy space
Supplying turbine solutions to renewable energy space Biomass (bagasse, palm Waste-to-energy (WtE) Waste Heat Recovery oil, residues, wood (Industrial and municipal (WHR) (Steel, Cement) pellets, rice husk waste) facilities 17
Slide 30: Our Value Proposition
Our Value Proposition Continued investment in R&D • Strong R&D and Innovation, backed by continuous investments in Digitalisation and Automation • Focus on alternative energy technologies Manufacturing excellence • Two state-of-the-art manufacturing facilities • Triveni is amongst the few turbine ma
Slide 31: Our Value Proposition
Our Value Proposition Customer Centricity • Experienced and reliable partner with proven expertise Innovation Strength • Strong Research & Development (R&D) capabilities to innovate new products and solutions designed to meet our customer needs; 338 filed, 249 granted Total IP (Intellectual Property
Slide 32: Pillars of our Growth with focus on Enhancing Addressable Markets
Pillars of our Growth with focus on Enhancing Addressable Markets Maintaining Leadership Making strides in the Gaining Traction in API Augment the position in small larger turbine segment Turbines Aftermarket segment turbines segment Continued focus in the small Making good progress in its Significa
Slide 33: Q3 / 9M FY 24 Performance Review
Q3 / 9M FY 24 Performance Review
Slide 34: Comments from the Chairman & Managing Director
Comments from the Chairman & Managing Director on Q3 / 9M FY 24 Performance and Outlook for the Company • Triveni Turbines continues on a robust growth path as demonstrated in stellar results during the nine-month period ending December 31, 2023. New benchmarks have been surpassed in key metrics of
Slide 35: Q3 / 9M FY 24 : Performance Review
Q3 / 9M FY 24 : Performance Review (₹ in Million) Q3 FY 24 Q3 FY 23 % Change 9M FY 24 9M FY 23 % Change Revenue from Operations 4,317 3,258 32.5% 11,959 8,778 36.2% EBITDA 1,009 750 34.5% 2,741 1,976 38.7% EBITDA Margin 23.4% 23.0% 22.9% 22.5% Depreciation & Amortisation 55 49 155 149 PBT 949 700 35
Slide 36: Strong Quarterly Performance
Strong Quarterly Performance (₹ in Million) 4,317 15,754 683 5,313 1,009 14,758 640 3,878 3,764 14,050 3,698 610 13,282 4,663 556 4,587 3,258 12,316 4,532 526 4,204 889 843 788 750 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24
Slide 37: FY 23 Performance Review
FY 23 Performance Review
Slide 38: Highest-ever Revenue in FY 23
Highest-ever Revenue in FY 23; an increase of 46.4% y-o-y 12,476 Revenue From Operations 4,116 (₹ in Million) 8,522 8,400 8,179 7,511 7,446 7,026 2,263 2,059 1,858 1,930 1,780 1,920 8,359 6,341 6,321 6,259 5,666 5,581 5,106 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 Product Aftermarket Total Increasi
Slide 39: Strong Performance in FY 23 in both Domestic & International Markets
Strong Performance in FY 23 in both Domestic & International Markets Order Booking 16,054 Revenue From Operations 12,476 (₹ in Million) (₹ in Million) 6,747 5,574 11,836 8,400 8,522 7,511 8,179 7,446 7,026 4,678 2,519 8,278 8,540 3,940 3,922 7,935 3,370 3,914 3,264 7,104 6,431 4,163 3,210 4,192 2,99
Slide 40: Increasing Contribution Of Aftermarket
Increasing Contribution Of Aftermarket Aftermarket Contribution to Sales Annual Maintenance Contracts (AMCs) 14,000 (₹ in Million) 35% for steam turbines 33% 12,000 27% 30% Health State-of- 26% survey and 4116 25% 27% condition the-art 10,000 25% assessment equipment 24% 23% 8,000 20% 2263 2059 1858
Slide 41: Financial Highlights FY 23: A record year
Financial Highlights FY 23: A record year with many all-time highs (₹ in Million) 2,555 2,764 12,476 1,929 1,708 1,921 8,522 8,400 1,469 1,462 1,454 8,179 1,703 1,675 1,667 7,026 1,219 1,218 1,163 1,002 FY 20 FY 19 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 FY 21 FY 19 FY 20 FY 22 FY 23 FY 19 F
Slide 42: Financial Highlights FY 23: Return ratios and cash
Financial Highlights FY 23: A record year with many all-time highs (₹ in Million) 7,506 4.54 6,713 36% 34% 32% 32% 26% 25% 23% 24% 23% 3.41 3,844 3.24 3.22 18% 2.82 1,979 322 FY 20 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 FY 20 FY 19 FY 21 FY 22 FY 23 ROCE
Slide 43: Shareholding Pattern
Shareholding Pattern
Slide 44: Shareholding Pattern
Shareholding Pattern Dec-22 Dec-23 23.21% 27.29% 55.94% 55.84% 15.47% 12.42% 3.93% 3.69% 1.45% 0.76% Promoter Group Foreign Portfolio Investors Promoter Group Foreign Portfolio Investors Mutual Funds + AIF Resident Individuals Mutual Funds + AIF Resident Individuals Others Others As on December 31,
Slide 45: Investor Relations Contact
Investor Relations Contact
Slide 46: Investor Relations Contact
Investor Relations Contact Surabhi Chandna Visit us: Investor Relations & Value Creation www.triveniturbines.com ir@triveniturbines.com +91 - 120 - 4308000 8th Floor, Express Trade Towers Plot No. 15 & 16, Sector 16-A, Noida – 201 301, India. Some of the statements in this presentation that are not
Slide 47: Thank You
Thank You