Triveni Turbine Limited · NSE:TRITURBINE
Triveni Turbine — Q2 FY25 Earnings Presentation
52 slides from Triveni Turbine's earnings presentation, Nov 11, 2024
Slide 1: Stock exchange filing cover letter
By E-filing REF: TTL: SE: 11/04 Date: November 11, 2024 BSE Limited National Stock Exchange of India P.J. Tower, Limited Dalal Street, Fort, Exchange Plaza, Mumbai - 400 001 Bandra-Kurla Complex, Bandra (E), Thru: BSE Listing Centre Mumbai - 400 051 Thru: NEAPS STOCK CODE: 533655 STOCK CODE: TRITURB
Slide 2: Key Highlights and Performance Summary
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: ➢ H
Slide 3: Chairman and Managing Director 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 quarter and half year ending September 30, Triveni Turbines has reported yet another strong set of results across all key metrics of
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 and order book review
previous year. • Aftermarket segment registered an all-time high order booking of ₹ 1.74 billion during the quarter, growing by 13% when compared with the corresponding period of previous year. The aftermarket turnover was also a record ₹1.65 billion during the quarter, up 38% on a y-o-y basis. • Af
Slide 6: Outlook
OUTLOOK • Expect to maintain robust business performance in the medium-term. This expectation is supported by a substantial backlog of orders in Renewable, API and IPG (Industrial Power Generation) turbines, along with successful market expansions. • The Aftermarket business also shows promising gro
Slide 7: Summary of Consolidated Order book
Summary of Consolidated Order book (All figures in ₹ million, unless otherwise mentioned) Particulars Q2 FY 25 Q2 FY 24 % Var H1 FY 25 H1 FY 25 % Var Opening Order Book Domestic 7,206 7,962 -9% 7,518 7,789 -3% Exports 10,049 6,088 65% 8,007 5,493 46% Total 17,255 14,050 23% 15,525 13,282 17% Mix of
Slide 8: About Triveni Turbine Limited
T 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 manufactur
Slide 9: Standalone unaudited financial results
TRIVENI TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, Ll.P, - 201 305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201 301 ON . L29110UPl995PLC041834 Statement of standalone unaudited financial results for quarter and six months end
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, 2024 March 31, 2024 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 2,597 2,641 Capital work-in-progress - 13 Intangible assets 28 36 Financial asset
Slide 11: Statement of standalone cash flows
TRIVENI TURBINE LIMITED Statement of standalone cash flows (~ in millions) Six months ended September 30, September 30, Particulars 2024 2023 (Unaudited) (Unaudited) Cash flows from operating activities Profit before tax 2,143 1,233 Adjustments for Depreciation and amortisation expenses 101 96 Net g
Slide 12: Notes to standalone results
TRIVENI TURBINE LIMITED Notes to the standalone unaudited financial results for the quarter and six months ended September 30, 2024 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 re
Slide 13: Consolidated unaudited financial results
TRIVENl TURBINE LIMITED Regd. Office: A-44, Hosiery Complex, Phase II Extension, Noida, U.P. - 201305 Corp. Office: 8th Floor, Express Trade Towers, 15-16, Sector-16A, Noida, U.P - 201301 CIN . L29110UP1995PLC041834 Statement of consolidated unaudited financial results for the quarter and six months
Slide 14: Statement of consolidated assets and liabilities
TRIVENI TURBINE LIMITED Statement of consolidated assets and liabilities (~ in millions As at As at Particulars September 30, 2024 March 31, 2024 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 2,815 2,748 Capital work-in-progress 38 14 Goodwill 36 34 Other Intangible asset
Slide 15: Statement of consolidated cash flows
TRIVENI TURBINE LIMITED Statement of consolidated cash flows (~in millions) Six months ended September 30, September 30, Particulars 2024 2023 (Unaudited) (Unaudited) Cash flows from operating activities Profit before tax 2,319 1,618 Adjustments for Share of net loss of joint venture accounted for u
Slide 16: Notes to consolidated results
TRIVENI TURBINE LIMITED Notes to the consolidated unaudited financial results for the quarter and six months ended September 30, 2024 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 FY25, November 2024
Imagine. Innovate. Inspire Investor Presentation Q2 FY 25 November 2024
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 900+ Employee Strength, >30% Employee & supplying industrial steam turbines Addition in last two ye
Slide 20: Market Overview
Market Overview
Slide 21: Global Final Energy Consumption is led by Heating and Cooling Applications
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
While Overall Global Steam Turbine Market has been declining over the years… Overall Global Steam Turbine Market (in GW) The global steam turbine market 133 declined from 120 109 120 GW in 2013 to 90 62 79 81 81 GW in 2023 68 55 60 49 a decline of 4% p.a. yearly during 2013 - 23 2013 2014 2015 2016
Slide 24: Triveni Turbines' Addressable Market is Relatively Stable
…Triveni Turbines’ Addressable Market is Relatively Stable and Grew 3% y-o-y in 2023 Global Steam Turbine Market, …while below 100 MW industrial Below 100 MW (in GW) segment where Triveni Turbines 10.8 9.2 8.0 operates is relatively stable 8.1 5.8 over a period of 10 years 5.9 +3% y-o-y And in 2023,
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 In the <100 MW market, where Triveni operates the growth of thermal renewables Others has been consistent and strong. The share of thermal renewable fuels Ther
Slide 26: Company Overview
Company Overview
Slide 27: A Differentiated Product Portfolio Catering To Wide Range Of Applications
A Differentiated Product Portfolio Catering To Wide Range Of Applications Renewable Power Generation Applications Independent Power Producers (IPP) • Biomass • Waste Heat • Waste to Energy Recovery (WHR) (WtE) • Geothermal Up to 100 MW Other Power Generation Applications Condensing Steam Turbines1 •
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 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 & Consistent Performance Over the Years
Strong & Consistent Performance Over the Years REVENUE EBITDA and EBITDA Margin PBT and PBT Margin • Net Sales CAGR of 19% p.a. • EBITDA CAGR of 22% p.a. • PBT CAGR of 26% p.a. between FY 20 - FY 24 between FY 20 – FY 24 between FY 20 – FY 24 24
Slide 41: Strong & Consistent Performance Over the Years
Strong & Consistent Performance Over the Years PAT and PAT Margin Order booking • PAT CAGR of 22% p.a. • Order Booking CAGR of 24% p.a. between FY 20 – FY 24 between FY 20 – FY 24 25
Slide 42: Focused on Diversification
Focused on Diversification • Focused on enhancing our global market position and enhancing contribution of Aftermarket Solutions 26
Slide 43: Enhancing Working Capital Management Efficiency
Enhancing Working Capital Management Efficiency • Sharp focus on effective management and ongoing monitoring has resulted in sustained improvement in working capital position. • Focus on high-value engineering alongside remaining asset-light ensures more effective use of assets, contributing to an i
Slide 44: Optimising Cashflows and Returns
Optimising Cashflows and Returns • Our focus on operational efficiency and effectively managing cash aids sustained high cash flow generation and robust return metrics. • Our cash position including investments as on March 31, 2024, stood at ₹ 8,831 million giving us enough headroom for investing in
Slide 45: Q2 FY 25: Management Commentary
Q2 FY 25: Management Commentary • In the quarter and half year ending September 30, Triveni Turbines has reported yet another strong set of results across all key metrics of revenues, profitability and order booking. Revenues for H1 FY 24 grew 26%, with improved margins leading to higher Profit Befo
Slide 46: Q2 / H1 FY 25: Strong Profitability Growth
Q2 / H1 FY 25: Strong Profitability Growth +42% (₹ in Million) +47% +37% 1,310 1,732 2,460 +42% +26% 889 1,714 30% 1,800 20.0% 9,644 1,600 19.0% 25% 18.0% +29% 7,642 26.1% 25.5% 1,400 18.2% 1,250 17.0% 22.9% 22.7% 20% 1,200 17.8% 1,000 910 16.0% 5,011 15% 16.5% 16.4% 15.0% 3,878 800 14.0% 10% 640 60
Slide 47: Robust Order Booking and Record Closing Order Book
Q2 / H1 FY 25: Robust Order Booking and Record Closing Order Book (₹ in Million) +22% +32% 17,963 14,758 +25% 12,082 9,119 5,719 4,587 Q2 FY 24 Q2 FY 25 H1 FY 24 H1 FY 25 Q2 / H1 FY 24 Q2 / H1 FY 25 Order Booking Closing Order Book • Exports order booking grew • The export outstanding order 50% y-o-
Slide 48: Shareholding Pattern
Shareholding Pattern
Slide 49: Shareholding Pattern
Shareholding Pattern 0.86% 1.32% 4.02% 3.94% 11.60% 10.81% 27.68% 28.09% 55.84% 55.84% 30-Sep-23 30-Sep-24 Promoter Group Foreign Portfolio Investors Mutual Funds + AIF Resident Individuals Others As on September 30, 2024 Foreign Portfolio Investors (FPI) increased holding y-o-y Note: Others compris
Slide 50: Investor Relations Contact
Investor Relations Contact
Slide 51: 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 52: Thank You
Thank You