Triveni Turbine Limited · NSE:TRITURBINE
Triveni Turbine — Q2 FY26 Earnings Presentation
52 slides from Triveni Turbine's earnings presentation, Nov 10, 2025
Slide 1: Exchange filing cover letter
By E-filing REF: TTL: SE: 11/03 Date: November 10, 2025 BSE Limited National Stock Exchange of India Limited P.J. Tower, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumbai Mumbai - 400 001 - 400 051 Thru: BSE Listing Centre Thru: NEAPS STOCK CODE: 533655 STOCK CODE: TRITURB
Slide 2: Key Highlights of the quarter
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 of t
Slide 3: Chairman's commentary on performance
Commenting on the Company’s financial performance and recent developments, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said: “The quarter under review showed improvement with Revenue from Operations of ₹ 5.06 billion, EBITDA of ₹ 1.33 billion and Profit After Tax (
Slide 4: Performance Review
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 industrial steam
Slide 5: Aftermarket contribution and H1 FY26 performance review
• Aftermarket contribution to turnover was a robust 35% in Q2 FY 26, as compared to 33% in Q2 FY 25. • The total consolidated outstanding order book stood at a record ₹ 22.20 billion as on September 30, 2025, higher by 24% when compared to the previous year. The domestic outstanding order book stood
Slide 6: Outlook and growth opportunities
• Additionally, the Aftermarket business presents strong growth potential, driven by an expanded portfolio of offerings, including spare parts, services and refurbishments targeting a wider customer base across of rotating equipment encompassing steam turbines, gas turbines, utility turbines, and ge
Slide 7: Summary of Consolidated Order book
Summary of Consolidated Order book (All figures in ₹ million, unless otherwise mentioned) Particulars Q2 FY 26 Q2 FY 25 % Var H1 FY 26 H1 FY 25 % Var Opening Order Book Domestic 9,140 7,206 27% 8,172 7,518 9% Exports 11,596 10,049 15% 10,922 8,007 36% Total 20,736 17,255 20% 19,094 15,525 23% Mix of
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
TRIVENJ TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Naida, U.P. - 201 305 Corp. Office: 8th Floor, Express Trade Towe1·s, 15-16, Sector-16A, Naida, U.P - 201 301 CIN : L29110UP1995PLC041834 Statement of standalone unaudited financial results for quarter and six months en
Slide 10: Statement of standalone assets and liabilities
TRIVENI TURBINE LIMITED Statement of standalone assets and liabilities (� in millions) As at As at Particulars September 30, March 31, 2025 2025 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 2,929 2,818 Capital work-in-progress 43 14 Intangible assets 53 24 Financial asse
Slide 11: Statement of standalone cash flows
‘TRIVENI TURBINE LIMITED Statement of standalone cash flows =z inmillions) Particulars ‘Six months ended ‘September 30] September 30, 2025 2024 (Gnauaited) | (Unavdited) (cash flows from operating activities Profit before tax after exceptional items 2165 243 [Adjustments for Depreciation and amortis
Slide 12: Notes to standalone financial results
TRIVENI TURBINE LUviITED Notes to the standalone unaudited financial results for the quarter and six months ended September 30, 2025 1 The above standalone financial results have been prepared in accordance with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 r
Slide 13: 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 Statement of consolidated w1audited financial results fo1· the quarter and six mon
Slide 14: Statement of consolidated assets and liabilities
TRIVENI TURBINE LIMITED Statement of consolidated assets and liabilities (� in millions) As at As at September March 31, Particulars 30, 2025 2025 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 3,396 3,165 Capital work-in-progress l35 193 GoodwiU 37 36 Other Intangible ass
Slide 15: Statement of consolidated cash flows
‘TRIVENI TURBINE LIMITED Statement of consolidated cash flows (@in millions) Particulars Sixmonths ended September | September 30,2025 | _ 30,2024 (Unaudited) | (Unaudited) (Cash flows from operating activities Profit before tax 2u18 2319 Adjustments for Share of net loss of joint venture accounted
Slide 16: Notes to consolidated financial results
TRIVENI TURBINE LIMITED Notes to the consolidated w1audited financial results for the quarter and six months ended September 30, 2025 1 The above consolidated financial results have been prepared in accordance with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 201
Slide 17: Imagine. Innovate. Inspire - Q2 / H1 FY26, November 2025
Imagine. Innovate. Inspire Investor Presentation Q2 / H1 FY 26 November 2025
Slide 18: Contents
Contents Description Page Number Triveni Turbines At A Glance 3 Market Overview 4 Company Overview 10 Financial Performance Highlights 23 Shareholding Pattern 32 Investor Relations Contact 34 2
Slide 19: Triveni Turbines at a Glance
Triveni Turbines at a Glance One of the leading manufacturers of decentralised Top 2 globally in industrial steam turbines steam-based renewable turbines globally 50+ years of designing, manufacturing 1000+ Employee Strength, >20% & supplying industrial steam turbines Employee Addition in last two y
Slide 20: Market Overview
Market Overview
Slide 21: Global Final Energy Consumption is led by Heating and Cooling
Global Final Energy Consumption is led by Heating and Cooling Applications 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 5
Slide 22: Industry has the Highest Contribution in Global Final Energy Demand
Industry as a Sector has the Highest Contribution in Global Final Energy Demand Final Energy Demand By Sector (EJ) Industry contributed to 114 ~39% of end global energy 80 100 119 122 demand in 2019 120 132 142 151 105 Even in future scenarios, the 31 38 43 45 24 contribution is expected to remain a
Slide 23: Overall Global Steam Turbine Market Has Been Declining
Overall Global Steam Turbine Market has been declining over the years… Overall Global Steam Turbine Market (in GW) The global steam turbine market 160 declined from 134 140 120 108 101 108 GW in 2014 to 100 91 89 81 101 GW in 2024 80 69 66 61 58 60 49 40 a decline of ~1% p.a. yearly 20 during 2014 -
Slide 24: Global Steam Turbine Market <100 MW Also Declined
Global Steam Turbine Market <100 MW also declined during the last decade Global Steam Turbine Market, Below 100 MW (in GW) Below 100 MW industrial segment where 15.0 Triveni Turbines operates 9.6 has also declined 10.0 8.7 6.9 over a period of 10 years 6.2 7.6 5.0 5.5 0.0 Below 100 MW market ex-Chin
Slide 25: Contribution of Thermal Renewable Fuels in <100MW Market Rising
Contribution of Thermal Renewable Fuels in <100MW market has also been rising Global Steam Turbine Market, Below 100 MW (in %), By Fuel Type - 2014 to 2024 In the <100 MW market, where Triveni 100% 90% operates the growth of thermal renewables 80% 70% has been consistent and strong. 60% 50% 40% The
Slide 26: Company Overview
Company Overview
Slide 27: A Differentiated Product Portfolio
A Differentiated Product Portfolio Catering To Wide Range Of Applications 11
Slide 28: Sustainable Turbine Solutions for Renewable Energy Space
Providing Sustainable Turbine Solutions for Renewable Energy Space 12
Slide 29: Comprehensive Aftermarket Offerings
Comprehensive Aftermarket Offerings Customer Centric Original Equipment Shorter Lead 24x7 Customer Automation & Quality & Reliability Approach Manufacturer (OEM) Time Service Efficiency Expertise Preventive LTSA/AMC Upgradation High Speed Turnkey Solutions Troubleshooting Maintenance Balancing LTSA:
Slide 30: Driving Growth through Refurbishment Solutions
Driving Growth through Refurbishment Solutions Key Growth Area: Refurbishment OEM expertise with vast knowledge 1 of rotating equipment promoting refurbishment growth 2 Large addressable market globally 3 Access to newer end-user industries and geographies Energy efficiency and return-driven metrics
Slide 31: Our Strategic Priorities
Our Strategic Priorities Innovation-led Global Diversified Market People Significance Focus business Sustained Customer Centric Increasing & Products Proximity to Responsible & Customers Growth Solutions 15
Slide 32: Our Unique Strengths
Our Unique Strengths Innovation capabilities Manufacturing ; and operational Extensive global reach excellence N Yj Proven engineering =S LE Sales and marketing expertise with ———— — ws associated services _E=S efficiency Asset-light model | i\ Expert engineering team Responsible operations and resp
Slide 33: Our Key Growth Drivers
Our Key Growth Drivers Energy Increasing Industrial Global 01 02 03 Transition Energy Demand Market Significance Customer-Centric Innovation & Technological Engineering 04 05 06 Approach Advancements Excellence Focus on 09 Refurbishment 07 Diverse Customer Base Sustainability 08 Solutions and Market
Slide 34: Strong Global Footprint
Strong Global Footprint >80 Countries of Presence Note: Map for representation purpose and not to scale 18
Slide 35: Sustainability-led Responsible Growth
Sustainability-led Responsible Growth Renewable fuel Fuel-agnostic solutions sources driving that align with the Product Order decarbonization journey Booking Rising Focused on contribution of Green energy efficiency thermal Manufacturing across products renewable fuels Facilities and solutions in a
Slide 36: Our Core Principles
Our Core Principles Impact Product Quality Innovation & 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 chan
Slide 37: Our Core Principles
Our Core Principles Ethics Strong Relationships Sustainability ▪ Professional and transparent ▪ Customer centricity with focus on ▪ Supports environment sustainability with business practices continuous modernisation, with significant focus on thermal efficiency regular upgrades and efficiency impro
Slide 38: Continued ESG Focus
Continued ESG Focus Environmental Social Governance ▪ Manufacturing Facilities at both Peenya ▪ Board comprises of 9 members which ▪ Educational initiatives such as and Sompura are Green Factories include 5 Non-Executive Independent sponsorship on education and training programmes for Directors (inc
Slide 39: Financial Performance Highlights
Financial Performance Highlights
Slide 40: Strong & Consistently Improving Performance Over the Years
Strong & Consistently Improving Performance Over the Years Revenue From Operations EBITDA and EBITDA Margins PBT and PBT Margins (₹ Million) (₹ Million & %) (₹ Million & %) 25.8% 24.3% 30% p.a. 33% p.a. 34% p.a. 23.7% 23.0% 6,000 30.0% 6,000 30.0% 22.5% 22.2% 21.6% 21.4% 5,177 20.5% 20,058 4,884 19.
Slide 41: Strong & Consistently Improving Performance: PAT and Order Booking
Strong & Consistently Improving Performance Over the Years PAT and PAT Margins Order Booking (₹ Million & %) (₹ Million) 17.9% 37% p.a. 38% p.a. 23,627 31.7% 4,000 3,586 35.0% 16.3% 3,500 30.0% 18,783 3,000 2,702 15.1% 2,695 16,054 25.0% 14.6% 2,500 11,836 1,929 20.0% 2,000 15.0% 6,431 1,500 1,025 1
Slide 42: Focused on Diversification
Focused on Diversification Share of Domestic and Export Sales (%) Share of Product and Aftermarket Sales (%) 27 27 32 33 33 52 54 54 55 70 73 73 68 67 67 48 46 46 45 30 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 Domestic Exports Aftermarket Product • Focused on enhancing our global
Slide 43: Enhancing Working Capital Management Efficiency
Enhancing Working Capital Management Efficiency Working Capital Inventory Turnover Ratio Assets Turnover Ratio (₹ Million) (x Times) (x Times) 660 5.96 5.86 3.22 2.26 -756 FY 20 FY 25 FY 20 FY 25 FY 20 FY 25 • Sharp focus on effective management and ongoing monitoring has resulted in sustained impro
Slide 44: Optimising Cashflows and Returns
Optimising Cashflows and Returns Investments including Cash Return on Capital Employed Return on Equity (₹ Million) (%) (%) 33% 9,873 40% 32% 25% 1,979 FY 20 FY 25 FY 20 FY 25 FY 20 FY 25 • Our focus on operational efficiency and effectively managing cash aids sustained high cash flow generation and
Slide 45: Q2 / H1 FY 26: Management Commentary
Q2 / H1 FY 26: Management Commentary • The quarter under review showed improvement with Revenue from Operations of ₹ 5.06 billion, EBITDA of ₹ 1.33 billion and Profit After Tax (PAT) of ₹ 914 million, all improving marginally on a y-o-y basis. We are pleased to report record order booking of ₹ 6.52
Slide 46: Q2 / H1 FY 26: Key Financial Indicators
Q2 / H1 FY 26: Key Financial Indicators REVENUE EBITDA and EBITDA Margin PAT and PAT Margin (₹ in Million) -9.0% -7.0% -9.1% 26.1% 18.2% 9,644 3,000 25.5% 27% 1,900 18.1% 17.8% 18.2% 26.1% 26.3% 17.8% 8,775 1,700 +1.0% 2,500 25% 1,714 1,558 18.0% 2,460 2,288 +1.5% 1,500 +0.4% 2,000 23% 17.8% 5,011 5
Slide 47: Q2 / H1 FY 26: Record Closing Order Book
Q2 / H1 FY 26: Record Closing Order Book (₹ in Million) Order Booking Closing Order Book -1.7% +23.6% 22,197 12,082 11,878 +14.1% 17,963 6,523 5,719 Q2 FY 25 Q2 FY 26 H1 FY 25 H1 FY 26 Q2/H1 FY 25 Q2/H1 FY 26 • Domestic order booking grew by 52% • The domestic outstanding order book y-o-y to ₹ 4.07
Slide 48: Shareholding Pattern
Shareholding Pattern
Slide 49: Shareholding Pattern
Shareholding Pattern 1.32% 1.67% 3.94% 5.77% 10.81% 13.11% 28.09% 23.60% 55.84% 55.84% 30-Sep-24 30-Sep-25 Promoter Group Foreign Portfolio Investors Mutual Funds + AIF Resident Individuals Others As on September 30, 2025 Mutual Funds + AIF, Resident Individuals increased holding y-o-y along with Ot
Slide 50: Investor Relations Contact
Investor Relations Contact
Slide 51: Investor Relations Contact
Investor Relations Contact Surabhi Chandna / Amit Shah 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 t
Slide 52: Thank You
Thank You