Triveni Turbine Limited · NSE:TRITURBINE
Triveni Turbine — H1 FY24 Earnings Presentation
37 slides from Triveni Turbine's earnings presentation, Nov 2, 2023
Slide 1: Filing cover letter to stock exchanges
we9nu ± TRIVENI TURBINE LIMITED CORPORATE OFFICE 8 FIor, Express Trade Towers, 15-16, Sector-16A, Noida - 201301, U.P., India T.: +91120 4308000 ] F;+91 120 4311010-11 ww.triveniturbines.com By E-filing REF:TIL:SE: Date:02 November ,2023 BSE Limited National Stock Exchange of India Ltd., P.J. Tower,
Slide 2: Investor Presentation Q2 / H1 FY 24
Imagine. Innovate. Inspire Investor Presentation Q2 / H1 FY 24 November 2023
Slide 3: Contents
Contents 01 Global and Domestic Overview 03 02 Company Overview 09 03 FY 23 Performance Review 22 04 Q2 / H1 FY 24 Performance Review 28 05 Shareholding Pattern 32 2
Slide 4: Global and Domestic Overview
Global and Domestic Overview
Slide 5: 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 6: Industry as a sector 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 7: Overall Global Steam Turbine Market Has Been Declining Over The Years
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 8: Below 100 MW Segment where Triveni Turbines operates is 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 12.2 13.3 12.5 -0.1% p.a. translating to -5% p.a. 10.8 11.0 11.9 9.5 9.7 12.1 8.9 8.8 …while below 100 MW where Trive
Slide 9: India Capacity Utilization is yet to return to its peak levels
...And India Capacity Utilization is yet to return to its peak levels Fixed Asset turnover Average FA turnover since FY98 While Indian economy is showing Capex growth (RHS) Capex CAGR over FY97-22 (RHS) signs of recovery in last 1-2 years… 3.0 60% 2.5 50% …we are still trending below average (x) 40%
Slide 10: Company Overview
Company Overview
Slide 11: Triveni Turbines at a Glance
Triveni Turbines at a Glance Top 2 globally in its addressable market* Domestic market leader 50 years of designing, manufacturing & supplying Global presence in >80 industrial steam turbines countries Industrial and Closing Order Book: Renewable Heat and ₹14.8 bn as on Sep Power Solutions Dominant
Slide 12: 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 13: 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 14: 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 15: 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 16: 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 17: Strong Global Footprint
Strong Global Footprint 80 Countries of Presence 16
Slide 18: 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! 17
Slide 19: 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 18
Slide 20: 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 21: 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 22: 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 23: FY 23 Performance Review
FY 23 Performance Review
Slide 24: Highest-ever Revenue in FY 23; an increase of 46.4% y-o-y
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 Making s
Slide 25: 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 4,678 7,446 7,026 2,519 8,278 8,540 3,940 3,922 7,935 3,370 7,104 6,431 3,914 3,264 4,163 3,210 4,192 4,10
Slide 26: 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 27: Financial Highlights FY 23: A record year with many all-time highs
Financial Highlights FY 23: A record year with many all-time highs (₹ in Million) 2,555 2,764 1,929 12,476 1,708 1,921 8,522 8,400 8,179 1,469 1,462 1,703 1,454 1,675 1,667 7,026 1,219 1,218 1,163 1,002 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 F
Slide 28: Financial Highlights FY 23: A record year with many all-time highs
Financial Highlights FY 23: A record year with many all-time highs (₹ in Million) 7,506 4.54 36% 6,713 34% 32% 32% 26% 25% 24% 23% 23% 3,844 3.41 3.24 3.22 18% 1,979 2.82 322 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 FY 20 FY 21 FY 22 FY 23 ROCE
Slide 29: Q2 / H1 FY 24 Performance Review
Q2 / H1 FY 24 Performance Review
Slide 30: Comments from the Chairman & Managing Director on Q2 / H1 FY 24 Performance
Comments from the Chairman & Managing Director on Q2 / H1 FY 24 Performance and Outlook for the Company • 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 fo
Slide 31: Q2 / H1 FY 24: Performance Review
Q2 / H1 FY 24 : Performance Review (₹ in Million) Q2 FY 24 Q2 FY 23 % Change H1 FY 24 H1 FY 23 % Change Revenue from Operations 3,878 2,930 32.4% 7,642 5,520 38.4% EBITDA 889 664 33.9% 1,732 1,226 41.3% EBITDA Margin 22.9% 22.7% 22.7% 22.2% Depreciation & Amortisation 51 49 100 100 PBT 832 614 35.5%
Slide 32: Reaching New Highs
Reaching New Highs (₹ in Million) 14,758 640 610 4,663 14,050 4,587 4,532 13,282 889 3,878 556 3,764 4,204 3,698 526 12,316 843 3,258 11,369 463 788 3,607 2,930 750 664 2Q23 3Q23 4Q23 1Q24 2Q24 4Q23 2Q23 3Q23 1Q24 2Q24 1Q24 2Q23 3Q23 4Q23 1Q24 2Q24 2Q23 3Q23 4Q23 2Q24 2Q23 3Q23 4Q23 1Q24 2Q24 REVENU
Slide 33: Shareholding Pattern
Shareholding Pattern
Slide 34: Shareholding Pattern
Shareholding Pattern As on Sep 30, 2022 As on Sep 30, 2023 22.30% 27.68% 55.94% 55.84% 16.08% 11.60% 3.90% 4.02% 1.78% 0.86% Promoter Group Foreign Portfolio Investors Promoter Group Foreign Portfolio Investors Mutual Funds + AIF Resident Individuals Mutual Funds + AIF Resident Individuals Others Ot
Slide 35: Investor Relations Contact
Investor Relations Contact
Slide 36: 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 37: Thank You
Thank You