Triveni Turbine Limited · NSE:TRITURBINE
Triveni Turbine — Q1 FY24 Earnings Presentation
47 slides from Triveni Turbine's earnings presentation, Aug 1, 2023
Slide 1: Cover letter to stock exchanges: Q1 FY24 investors' brief
7 · 'PIVEnI TURBINES TRIVENI TURBINE LIMITED CORPORATE OFFICE 8" Floor, Express Trade Towers , 15-16, Sector-16A4, Noida - 201301, U.P., India T.: +91 120 4308000 I F: +91120 4311010-11 www .triveniturbines.com Date : August 1, 2023 By E- Filing The Deputy General Manager The Asst. Vice President, D
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*: ➢
Slide 3: Chairman and Managing Director's commentary
Commenting on the Company’s financial performance and recent developments, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said: “In the first quarter of FY 24, Triveni Turbines has delivered yet another impressive performance. The momentum in revenue growth remained s
Slide 4: Record closing order book
At the end of the quarter, the Company had a record closing order book of ₹ 14.1 billion, up 31% year-on-year. With a formidable product and aftermarket portfolio, underlying demand drivers in place, continued focus of innovation and sustainability, amplifying people strength, digital transformation
Slide 5: Q1 FY 24: Performance Review
Q1 FY 24: PERFORMANCE REVIEW 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. TTL is among the leading manufacturers of indust
Slide 6: Order booking and segment performance
• The export order booking during the quarter was ₹ 2.41 billion, growing by 128% as compared to last year, boosted by both product and aftermarket segment. • On the Product side, despite lower domestic orders, overall order booking for the segment increased by 20% y-o-y to ₹ 3.08 billion, due to hi
Slide 7: Summary of Consolidated Order book
Summary of Consolidated Order book (All figures in ₹ million, unless otherwise mentioned) Particulars Opening Order Book Q1 FY 24 Q1 FY 23 % Var Domestic 7,789 5,383 45% Exports 5,493 4,320 27% TOTAL 13,282 9,703 37% Mix of Exports 41% 45% Product 11,255 8,181 38% After market 2,027 1,522 33% Total
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 a dominant player in industrial
Slide 9: Standalone unaudited financial results Q1 FY24
TRIVENI TURBINE LIMITED Regd. Office: A44, 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 ended June 30, 2023 (
Slide 10: Notes to standalone financial results
Notes to the standalone unaudited financial results for the quarter ended June 30, 2023 1 The Company primarily operates in a single reportable segment - Power Generating Equipment and Solutions. 2 The figures for the quarter ended March 31, 2023 are the balancing figures between the audited figures
Slide 11: Consolidated unaudited financial results Q1 FY24
TRIVENI TURBINE LIMITED Regd. Office: A44, 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 consolidated unaudited financial results for the quarter ended June 30,
Slide 12: Notes to consolidated financial results
Notes to the consolidated unaudited financial results for the quarter ended June 30, 2023 1 The Company and its subsidiaries (together referred to as the 'Group') primarily operate in a single reportable segment - Power Generating Equipment and Solutions. 2 The figures for the quarter ended March 31
Slide 13: Investor Presentation Q1 FY24
Investor Presentation Q1 FY 24 August 2023 www.triveniturbines.com
Slide 14: Agenda
AGENDA GLOBAL AND DOMESTIC OVERVIEW COMPANY OVERVIEW FY 23 PERFORMANCE REVIEW Q1 FY 24 PERFORMANCE REVIEW SHAREHOLDING PATTERN
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 is one of the largest energy users globally
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… The global steam turbine Overall Global Steam Turbine Market (in GW) 140 131 market declined from 120 120 100 80 115 109 90 115 GW in 2012 to 74 GW in 2022 68 60 60 74 55 60 46 40 20 a decline of 4% p.a. yearly 0 during 2012 - 22
Slide 19: Below 100 MW segment is largely flat
…However Below 100 MW Segment where Triveni Turbines operates is largely flat Steep Decline in Steam Turbine Market Below 100 MW (in GW) 14.0 over 100 MW segment from 13.3 12.0 10.8 11.0 12.2 11.9 12.5 CAGR 106 GW to 66 GW translating to 10.0 12.1 -5% p.a. 9.5 9.7 -0.1% p.a. 8.9 8.8 8.0 6.0 4.0 2.0
Slide 20: India Capacity Utilization Yet to Return to Peak
...And India Capacity Utilization is yet to return to its peak levels While Indian economy is Fixed Asset turnover Capex growth (RHS) Average FA turnover since FY98 Capex CAGR over FY97-22 (RHS) showing signs of recovery 3.0 60% in last 1-2 years… 2.5 50% 40% 2.0 …we are still trending below (x) 30%
Slide 21: Company Overview
COMPANY OVERVIEW
Slide 22: Triveni Turbines At A Glance
Domestic market leader Top 2 globally in its Global addressable presence in >75 market* countries Triveni Industrial and Renewable Heat Turbines Closing and Power Solutions <100 Dominant Order Book: player in At A Glance ₹14.1 bn as MW renewable on Jun 2023 steam up 31% YoY turbines 6000+ Caters to
Slide 23: Our Founding Principles: Impact, Product Quality, Technology
Our Founding Principles Impact Product Quality Technology ▪ Aims to make a positive ▪ Best-in-class manufacturing at two-world ▪ Consistent R&D of technology to surpass impact to all our stakeholders class facilities at Peenya and Sompura in customer needs and keeping up with changing Bengaluru busi
Slide 24: Our Founding Principles: Ethics, Relationships, Sustainability
Our Founding Principles Ethics Strong Relationships Sustainability ▪ Professional and transparent ▪ Sustainable solutions that create a high ▪ Supports environment sustainability business practices degree of value for our customers with significant focus on thermal efficiency improvements ▪ Strong f
Slide 25: Continued ESG Focus
Continued ESG Focus Environmental Social Governance ▪ Educational ▪ Board comprises of 10 members which ▪ Manufacturing Facilities at both initiatives such as sponsorship on education and training include 5 Non-Executive Independent Peenya and Sompura are Green programmes for differently-abled Direc
Slide 26: A Differentiated Product Portfolio Catering To Wide Range Of Applications
A Differentiated Product Portfolio Catering To Wide Range Of Applications Up to 100 MW POWER COMBINED DRIVE CONDENSING STEAM TURBINES GENERATION HEAT & POWER APPLICATIONS • Straight Condensing APPLICATIONS APPLICATIONS • Uncontrolled Extraction Condensing • Controlled Extraction Condensing • Double
Slide 27: Strong Global Footprint
Strong Global Footprint >75 Present in 75+ Countries Countries of presence Enquiries from ~110 countries 15
Slide 28: A Diversified Base Of End Use Industries
A Diversified Base Of End Use Industries 16 11
Slide 29: Supplying turbine solutions to renewable energy space
Supplying turbine solutions to renewable energy space Biomass (bagasse, palm oil, Waste-to-energy (WtE) (Industrial Waste Heat Recovery (WHR) residues, wood pellets, rice husk and municipal waste) facilities (Steel, Cement) 17
Slide 30: Increasing Demand for Renewable Power Generation Globally
Increasing Demand for Renewable Power Generation Globally The turbine industry, with its large Globally, Governments are shifting manufacturing base, is also moving from conventional to renewable aggressively towards energy sources of energy to attain their conservation and use of renewable renewabl
Slide 31: 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 manufactur
Slide 32: Our Business Model
Our Business Model 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) right
Slide 33: 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 Gaining Traction in Augment the position in small the larger turbine API Turbines Aftermarket turbines segment segment segment Continued focus in the Significant Expanding small range turbines
Slide 34: FY 23 Performance Review
FY 23 PERFORMANCE REVIEW
Slide 35: Highest-ever Revenue in FY 23
Highest-ever Revenue in FY 23; an increase of 46.4% y-o-y Revenue From Operations 12,476 14,000 (₹ in Million) 12,000 4,116 8,522 10,000 8,400 8,179 7,511 2,263 2,059 1,858 7,026 8,000 1,930 1,920 6,000 8,359 4,000 6,341 6,321 6,259 5,581 5,106 2,000 - FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 Product Aft
Slide 36: Solid Performance in FY 23 in Domestic and International Markets
Solid Performance in FY 23 in both Domestic And International Markets 12,476 16,054 6,747 5,574 11,836 8,400 8,179 7,026 8,522 7,446 7,511 2,519 4,678 8,278 8,540 3,940 7,935 6,431 3,922 3,370 7,104 3,914 3,264 Order Revenue 4,163 3,210 4,192 2,995 From 4,321 2,110 6,901 9,307 Booking 6,004 Operatio
Slide 37: Increasing Contribution Of Aftermarket
Increasing Contribution Of Aftermarket 14,000 35% 33% 12,000 30% 4,116 27% 27% 10,000 26% 25% 24% 25% 23% 8,000 20% 2,263 2,059 1,858 1,780 1,930 1,920 6,000 15% 8,359 4,000 10% 6,341 6,321 6,259 5,666 5,581 5,106 2,000 5% Refurbishment Spares Services - 0% FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
Slide 38: Financial Highlights FY 23: A record year
Financial Highlights FY 23: A record year with many all-time highs (₹ in Million) 12,476 2,764 2,555 1,929 1,921 1,163 8,522 1,219 8,400 8,179 1,703 1,708 1,218 1,675 1,667 7,026 1,462 1,469 1,454 1,002 FY 23 FY 19 FY 20 FY 21 FY 22 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 F
Slide 39: Healthy Ratios & Strong Cash Position
Financial Highlights: Healthy Ratios & Strong Cash Position 40% 40% 5.00 4.54 8,000 7,506 36% 35% 34% 35% 4.50 7,000 6,713 32% 32% 4.00 30% 30% 3.41 6,000 26% 25% 3.50 3.24 3.22 23% 23% 24% 25% 25% 3.00 2.82 5,000 3,844 20% 20% 18% 2.50 4,000 15% 15% 2.00 3,000 1.50 1,979 10% 10% 2,000 1.00 5% 5% 0.
Slide 40: Q1 FY 24 Performance Review
Q1 FY 24 PERFORMANCE REVIEW
Slide 41: Comments from the Chairman & Managing Director
Comments from the Chairman & Managing Director on Q1 FY 24 Performance and Outlook for the Company • In Q1 FY 24, Triveni Turbines has delivered yet another impressive performance. The momentum in revenue growth remained strong during the quarter with 45% growth over the previous corresponding perio
Slide 42: Q1 FY 24 and Q1 FY 23: Performance Review
Q1 FY 24 and Q1 FY 23: Performance Review (₹ in Million) Q1 FY 24 Q1 FY 23 % Change Revenue from Operations 3,764 2,590 45.3% EBITDA 843 561 50.3% EBITDA Margin 22.4% 21.7% Depreciation & Amortisation 49 51 PBT 786 508 54.7% PBT Margin 20.9% 19.6% Consolidated PAT 610 383 59.3% Consolidated PAT Marg
Slide 43: Reaching New Highs Quarter after Quarter
Reaching New Highs Quarter after Quarter (₹ in Million) 14,050 4,663 4,532 13,282 3,698 3,764 610 12,316 843 4,204 3,258 788 556 11,369 750 526 10,692 2,930 3,580 3,607 664 463 2,590 561 383 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23
Slide 44: Shareholding Pattern
SHAREHOLDING PATTERN
Slide 45: Shareholding Pattern
Shareholding Pattern • Increased free float of 44.16%, following sale by Triveni Engineering & Industries Ltd. • Increased ownership of Foreign Portfolio Investors (FPI), Mutual Funds (MF) and Alternative Investment Funds (AIF) 33 Note: Others comprise of Corporate Bodies, Clearing members, NRI, HUF
Slide 46: Investor Relations Contact
Investor Relations Contact Surabhi Chandna Investor Relations & Value Creation Visit us: 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