Triveni Turbine Limited — Investor Meet, 11-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

**Financial Performance:** Triveni Turbine reported Q1 FY26 revenue at ₹371 Cr, down 20% year-on-year, primarily due to geopolitical conflicts causing dispatch deferments and lower export demand. Profit After Tax (PAT) declined 20% to ₹64.4 Cr, though EBITDA margin improved 100 basis points to 25.8%.

**Order Book & Outlook:** Quarterly order booking was ₹53.6 Cr, down 16% YoY. Despite this, the outstanding order book hit a record ₹207.4 Cr, up over 20% YoY, supported by strong domestic demand (enquiry book up 130%). Cash and investments stand strong at ₹1005 Cr. Management expects revenue to be back-ended for FY26, with overall growth in orders and revenue anticipated for the full year.

**New Products & Strategy:** The company launched India’s first CO2-based high-temperature ultra-efficient heat pump, marking a key step in clean industrial heating. The NTPC CO2 turbine project is on track. While Q1 was disappointing, management remains confident in long-term growth, driven by technology innovation, efficiency, and expanding global market presence, despite some short-term geopolitical uncertainties.