Triveni Turbine Ltd logo

Triveni Turbine Ltd

TRITURBINE NSE

Triveni Turbine Ltd is primarily engaged in business of manufacture and supply of power generating equipment and solutions. [1] It was a division of Triveni Engineering & Industries Ltd[2] since 1970s and was demerged w.e.f from Oct 2010 into a separate entity.[3]

AI Verdict: HOLD Confidence: 5%

Triveni Turbine is a high-quality compounder with 29% 3-year ROE and near-zero debt, but the stock trades at 61.2x PE and 14.8x book value, leaving little margin of safety. Deteriorating working capital cycle (42 to 118 days) and slowing TTM growth at 9% suggest the premium valuation needs time to be justified.

Key Fundamentals

SmallcapElectrical EquipmentCapital Goods
Market Cap
₹21,574 Cr
Volatility
Moderate
P/E Ratio
60.79
EBITDA
₹433 Cr
Return on Equity
25.33%
Debt to Equity
0.02
Book Value
₹45.49
EPS
₹9.07
52W High
₹787.6
52W Low
₹428.35

Technical Indicators

Key Insights

Strengths

4
  • Company is almost debt free.
  • Company has delivered good profit growth of 26.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%
  • Company has been maintaining a healthy dividend payout of 39.7%

Weaknesses

3
  • Stock is trading at 14.8 times its book value
  • Debtor days have increased from 70.8 to 107 days.
  • Working capital days have increased from 42.0 days to 118 days

Growth Rate

Revenue Growth
4.52% ↘
Net Income Growth
-1.87% ↘
Cash Flow Change
-31.10% ↘
ROE
4.92% ↘
ROCE
5.58% ↘
EBITDA Margin (Avg.)
-22.65% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Triveni Turbine is a high-quality compounder with 29% 3-year ROE and near-zero debt, but the stock trades at 61.2x PE and 14.8x book value, leaving little margin of safety. Deteriorating working capital cycle (42 to 118 days) and slowing TTM growth at 9% suggest the premium valuation needs time to be justified.

Bull Case 8
  • Virtually debt-free balance sheet provides financial flexibility and resilience through industrial cycles
  • Exceptional 3-year ROE of 29% and 5-year ROE of 25% demonstrate consistently high capital efficiency
  • Compounded profit growth of 28% over 3 years reflects strong earnings momentum
  • 5-year sales CAGR of 25% indicates sustained top-line expansion in the steam turbine market
  • Healthy dividend payout ratio of 39.7% shows shareholder-friendly capital allocation despite being a growth company
  • 5-year stock CAGR of 41% demonstrates strong long-term wealth creation track record
  • 62.5% of analysts rate it a Buy with only 12.5% recommending Sell, indicating broad Street confidence
  • 10-year profit CAGR of 13% shows the company has compounded through multiple cycles including COVID
Bear Case 8
  • PE ratio of 61.2x is extremely elevated for an industrial company, pricing in years of flawless execution
  • Price-to-book of 14.8x leaves significant downside risk if growth disappoints even marginally
  • Working capital days have nearly tripled from 42 to 118 days, signaling potential cash conversion deterioration
  • Debtor days increased from 70.8 to 107 days, indicating slower collections and possible customer payment stress
  • TTM sales growth has decelerated sharply to 9% versus 3-year CAGR of 20%, suggesting growth slowdown
  • TTM profit growth of only 9% compared to 3-year CAGR of 28% shows significant earnings momentum loss
  • Dividend yield of just 0.33% offers negligible income cushion against potential capital depreciation
  • Market cap of Rs 21,677 crore on slowing single-digit growth implies the market is extrapolating a re-acceleration that may not materialize

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 1
  • ICICI investor conference attendance Jun 01

    Triveni Turbine management will attend ICICI Securities India Investor Conference on June 09, 2026. No unpublished price sensitive information will be shared.

TL;DR: Limited recent news flow for Triveni Turbine with only a routine conference attendance disclosure. No material headwinds or positive catalysts identified in the current period. The lack of negative news is neutral, but investors should watch for order inflow updates and quarterly results for directional cues.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
370
376
388
432
458
463
501
503
538
371
506
624
680
Expenses
303
306
314
348
368
368
390
394
418
298
392
491
552
Operating Profit
66
71
74
84
90
96
111
109
120
74
115
133
128
OPM %
18%
19%
19%
19%
20%
21%
22%
22%
22%
20%
23%
21%
19%
Other Income
12
13
14
17
18
19
20
22
20
22
18
4
16
Interest
0
1
1
1
1
1
1
0
1
1
0
1
1
Depreciation
5
5
5
6
5
6
6
6
8
8
8
9
9
PBT
73
79
83
95
102
108
124
125
132
87
125
127
134
Tax %
24%
22%
23%
28%
25%
25%
27%
26%
28%
26%
27%
28%
24%
Net Profit
56
61
64
68
76
80
91
93
95
64
91
92
102
EPS in Rs
1.75
1.91
2.02
2.15
2.39
2.52
2.86
2.91
2.95
2.03
2.87
2.9
3.21
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
651
713
745
751
840
818
703
852
1,248
1,654
2,006
2,181
Expenses
526
553
577
594
687
660
553
692
1,012
1,333
1,566
1,732
Operating Profit
125
160
168
157
153
158
149
161
235
321
439
449
OPM %
19%
22%
23%
21%
18%
19%
21%
19%
19%
19%
22%
21%
Other Income
30
25
33
8
19
24
6
227
43
62
81
61
Interest
4
2
2
2
3
5
3
3
3
5
6
3
Depreciation
16
15
15
19
20
20
20
20
20
21
26
34
PBT
136
167
185
144
149
156
132
365
256
358
489
473
Tax %
32%
32%
33%
33%
33%
22%
22%
26%
25%
25%
27%
26%
Net Profit
93
113
124
96
100
122
102
270
193
269
359
349
EPS in Rs
2.74
3.42
3.74
2.91
3.1
3.77
3.17
8.36
6.06
8.47
11.24
11
Div. Payout %
31%
32%
32%
34%
0%
13%
38%
23%
0%
43%
36%
41%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
33
33
33
33
32
32
32
32
32
32
32
32
Reserves
196
266
370
419
401
498
605
824
729
928
1,185
1,414
Borrowings
13
1
0
0
0
1
4
2
4
3
39
36
Other Liabilities
333
278
242
303
311
295
307
493
593
707
783
1,015
Total Liabilities
575
578
646
755
744
826
948
1,352
1,357
1,670
2,039
2,497
Fixed Assets
155
132
232
226
254
246
248
247
269
283
323
363
CWIP
6
33
10
39
5
7
1
3
5
1
19
17
Investments
23
20
17
20
19
152
296
478
379
458
348
304
Other Assets
391
393
386
472
466
420
403
624
703
928
1,348
1,813
Total Assets
575
578
646
755
744
826
948
1,352
1,357
1,670
2,039
2,497
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
71
140
82
91
148
188
187
433
196
271
187
111
Investing
-34
-46
-75
-49
-8
-128
-214
-363
89
-195
-7
22
Financing
-37
-70
-19
-48
-124
-21
-2
-75
-288
-76
-111
-141
Net Cash Flow
-1
24
-11
-6
15
39
-29
-5
-3
-1
69
-8
Free Cash Flow
60
97
-1
44
133
176
174
419
157
240
144
39
CFO/OP
93
118
83
90
128
145
147
326
110
107
71
53
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
83
68
74
101
76
56
40
43
38
39
66
107
Inventory Days
129
143
138
174
171
146
170
138
122
108
78
77
Days Payable
126
82
88
139
91
51
76
85
64
78
125
176
Cash Conversion Cycle
85
129
124
136
157
151
134
97
96
70
20
8
Working Capital Days
21
42
60
81
64
31
-6
-57
-48
-39
47
118
ROCE %
63%
57%
52%
34%
34%
32%
25%
21%
29%
38%
41%
36%

Shareholding Pattern

As of Mar 2026
Promoters 55.84%
FIIs 20.81%
DIIs 16.52%
Public 5.67%
Others 1.16%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
67.78%
67.78%
67.78%
67.78%
67.78%
67.78%
55.94%
55.94%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
55.84%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
27.68%
27.28%
27.26%
27.51%
28.09%
28.34%
28.01%
25.44%
23.60%
22.38%
20.81%
DIIs
14.25%
12.87%
13.05%
12.39%
12.00%
11.54%
16.00%
15.47%
15.13%
12.32%
11.66%
12.49%
12.71%
12.33%
11.49%
10.92%
10.62%
12.15%
13.88%
14.60%
16.52%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.75%
3.94%
3.67%
2.94%
3.07%
3.18%
3.89%
3.93%
3.72%
4.00%
4.01%
3.69%
3.58%
3.65%
3.94%
4.24%
4.80%
5.58%
5.77%
6.00%
5.67%
Others
14.21%
15.42%
15.50%
16.89%
17.15%
17.50%
24.18%
24.67%
25.31%
27.84%
0.81%
0.69%
0.60%
0.67%
0.65%
0.66%
0.72%
0.99%
0.90%
1.18%
1.16%
No. of Shareholders
31,638
35,170
34,473
44,971
49,097
49,950
56,509
71,704
69,589
82,728
88,418
83,605
91,420
1,07,624
1,27,944
1,49,553
1,68,753
1,75,934
1,84,573
1,72,009
1,58,560

Documents

Frequently Asked Questions about Triveni Turbine Ltd

What does Triveni Turbine Ltd do?
Triveni Turbine Ltd is primarily engaged in business of manufacture and supply of power generating equipment and solutions. [1] It was a division of Triveni Engineering & Industries Ltd[2] since 1970s and was demerged w.e.f from Oct 2010 into a separate entity.[3]
Where is Triveni Turbine Ltd (TRITURBINE) listed?
Triveni Turbine Ltd is listed on the Indian stock exchanges. It is listed on NSE: TRITURBINE and BSE: 533655. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Triveni Turbine Ltd belong to?
Triveni Turbine Ltd operates in the Industrials sector within the Electrical Equipment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Triveni Turbine Ltd?
Triveni Turbine Ltd has a market capitalisation of approximately ₹21573.74 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Triveni Turbine Ltd?
The Price-to-Earnings (PE) ratio of Triveni Turbine Ltd is 60.79. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Triveni Turbine Ltd?
Over the past 52 weeks, Triveni Turbine Ltd has traded between a low of ₹428.35 and a high of ₹787.6. This range helps investors understand the stock's price volatility and recent trading levels.
Does Triveni Turbine Ltd pay dividends?
Yes, Triveni Turbine Ltd has a dividend yield of 0.33%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Triveni Turbine Ltd?
Triveni Turbine Ltd has a Return on Equity (ROE) of 25.33%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Triveni Turbine Ltd on Tapetide?
On Tapetide, you can view Triveni Turbine Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Triveni Turbine Ltd is primarily engaged in business of manufacture and supply of power generating equipment and solutions. [1] It was a division of Triveni Engineering & Industries Ltd[2] since 1970s and was demerged w.e.f from Oct 2010 into a separate entity.[3]

Website triveniturbines.com
CEO Mr. Dhruv Manmohan Sawhney
Employees 928
Listed 2011-10-28
Face Value ₹ 1
Issued Size 31,78,86,270

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