- Triveni Turbine has given multibagger returns in one year
- The company’s stock has gained 116.89% during this period.
- Has doubled the wealth of investors in one year
- Performance in the September quarter as per market expectations
The stock of Triveni Turbine, a Bengaluru-based steam turbine maker, has given multibagger returns in the past one year. During this period, this stock has gained 116.89%. The stock closed at Rs 177.2 on December 29, 2021 as against Rs 81.7 on December 29, 2020. In this way, this stock has doubled the wealth of investors in one year.
Triveni Turbine designs as well as manufactures steam turbines up to 100 MW. It is the market leader in the steam turbine segment up to 30 MW. The company’s steam turbines are used in sectors ranging from sugar, steel, textiles, chemicals, pulp and paper, petrochemicals, fertilizers, solvent extraction, metals, palm oil to food processing.
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The company’s performance in the quarter ended September 2021 was in line with market expectations. During this period, the company’s consolidated revenue grew 11.4 per cent over the previous quarter to Rs 206 crore, while operating margin declined by 741 basis points to 19.3 per cent. This was due to an increase in the share of domestic revenue and a rise in raw material prices. The company’s PBIDT stood at Rs 39.92 crore, which is 19.45% lower than the second quarter of FY 2021. Then it was Rs 49.56 crore. The company’s net profit stood at Rs 178.39 crore in the second quarter of FY 2022 as against Rs 23.11 crore a year ago. The reason for this was that the company earned an income of Rs 198 crore from the settlement agreement with Triveni Energy Solutions.
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In the recent quarter, the company’s order bookings grew by 74 per cent over the previous year to Rs 307 crore. This is the highest overall order booking in the last 4 years. The company’s total order book is Rs 828 crore, which is 24 per cent higher than last year and 14 per cent higher than the previous quarter. The company’s management expects strong revenue booking in the second half of FY22 on account of increased investment activities in industries such as sugar, distilleries, food processing, steel and cement.
why will it speed up
The manufacturing sector in the country is on a growth trajectory and recovery in sectors like cement, steel, pharma is expected to boost demand for steam turbines. Triveni Turbines is expected to benefit from this as the company has a strong aftermarket segment and overseas business. Therefore, the company’s growth prospects remain positive.
At 10.40 am on Thursday, the company’s stock was trading at Rs 175.55, down 0.93 per cent, or Rs 1.65, on the BSE. Its 52-week high on the BSE is Rs 229 and a low of Rs 79.45.
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