Triveni Turbine Limited (TRITURBINE)

Loading page…

Triveni Turbine Limited (TRITURBINE) · mywealthgrid

About

Triveni Turbine Limited manufactures heavy electrical equipment for industrial and infrastructure applications within the Industrials sector. With a market cap of ₹18,832 Cr, the company delivers quarterly revenues ranging from ₹397 Cr to ₹680 Cr, serving industrial capex-dependent segments. The business generates strong cash returns—ROE stands at 26.27% with zero debt.

Face value: ₹1

Market cap

₹16,849 Cr

P/E

50.1×

P/B

11.7×

Dividend yield

0.8%

ROE

26.3%

ROCE

35.7%

Debt / equity

OPM

20.7%

EPS (TTM)

₹10.6

Book value

₹45.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: Operating margin fell from 24.78% (Sep 2025) to 11.59% (Jun 2026); verify if input costs, pricing pressure, or order-mix degradation is structural or cyclical.
Profitability decline: Net profit halved from ₹95.5 Cr (Sep 2025) to ₹50.5 Cr (Jun 2026); EPS fell from ₹3 to ₹1.59, straining the PE 56 valuation.
Revenue volatility: Quarterly sales swung 40% from ₹680 Cr (Mar 2026) to ₹397 Cr (Jun 2026); verify whether lumpiness masks demand weakness or reflects project timing.
Cyclical exposure: Heavy electrical equipment is tied to industrial capex cycles; verify whether India's infrastructure and power capex cycle is entering or exiting growth phase.

Generated analysis · source review pending

Growth drivers

Margin recovery: Operating margin fell from 24.78% (Sep 2025) to 11.59% (Jun 2026); reversion toward 20%+ would triple net profit at flat revenue and support current valuation.
Revenue normalization: June revenue (₹397–443 Cr) is ~40% below March (₹680 Cr); verify if this is seasonal project timing; return to ₹600+ Cr quarterly run rate would restore earnings materially.
Electrical equipment sector capex: Heavy equipment supplier to industrial and power infrastructure; verify whether India's capex plans in infrastructure, power generation, and industrial capacity are entering growth phase.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹530.0-2.5%1Y

Quick read

rule-based

Pros

+Strong return on equity of 30.1% (3-yr avg)
+High return on capital employed of 40%
+Healthy operating margin of 20.7%
+Profit CAGR of 27.8% over the last 5 years
+Revenue CAGR of 25.4% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 189.5×
+Dividend payout of 40.2% of profit

Cons

−Trading at 11.7× book value

Research score

Structured signal from quality, growth, valuation and momentum.

52/100

Business quality: 87
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	740	766	753	840	818	703	852	1,248	1,654	2,006	2,181
COGS	401	390	385	469	441	356	470	647	819	1,000	1,159
Gross profit	338	376	368	371	377	346	382	600	835	1,006	1,022
	180	209	213	216	212	193	224	367	516	569	573
	158	166	155	154	165	153	158	234	319	437	449
OPM %	21.3%	21.7%	20.6%	18.4%	20.2%	21.8%	18.6%	18.7%	19.3%	21.8%	20.6%
Depreciation	15	15	19	20	20	20	20	20	21	26	34
Interest	0	0	1	1	3	1	1	1	3	3	3
	21	29	8	16	15	1	228	43	62	81	61
Profit before tax	167	185	144	149	156	132	365	256	358	489	473
Tax	54	61	48	49	34	30	95	63	88	130	124
Tax %	32.4%	33.1%	33.3%	32.9%	21.9%	22.4%	25.9%	24.5%	24.7%	26.6%	26.2%
	113	124	96	100	122	102	270	193	269	359	349
PAT margin %	15.3%	16.1%	12.7%	11.9%	14.9%	14.6%	31.7%	15.5%	16.3%	17.9%	16%
EPS (₹)	3.4	3.7	2.9	3.1	3.8	3.2	8.4	6	8.5	11.3	11
EPS adjusted (₹)	3.4	3.7	2.9	3.1	3.8	3.2	8.4	6.1	8.5	11.2	11
	32.2%	32.1%	34.4%	0%	13.3%	56.8%	23.3%	16.8%	30.7%	35.5%	38.6%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	33	33	33	32	32	32	32	32	32	32	32
Reserves	221	370	419	401	498	605	824	729	928	1,185	1,414
Minority interest	—	—	—	—	—	—	1	1	2	3	—
	1	0	0	0	1	1	0	0	0	0	0
	248	240	301	308	291	303	477	579	692	800	1,051
Total equity & liabilities	503	644	753	741	822	942	1,335	1,340	1,654	2,019	2,497
	135	232	226	254	247	248	247	269	283	323	363
CWIP	6	10	39	4	6	0	3	5	1	19	17
Investments	11	17	20	19	152	296	478	379	458	348	304
	351	384	469	463	417	398	607	686	911	1,329	1,813
Total assets	503	644	753	741	822	942	1,335	1,340	1,654	2,019	2,497

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	44.2%	46.1%	49.3%	44.8%	48.1%	50.5%	50.1%	46.8%
EBITDA margin %	18%	19%	21%	19.1%	18.7%	19.3%	21.8%	20.7%
EBIT margin %	15.6%	16.6%	18.1%	16.7%	17.1%	18%	20.5%	19.1%
PAT margin %	11.9%	14.9%	14.6%	31.7%	15.5%	16.3%	17.9%	16%
Working capital
Receivable days	77	56	40	43	38	39	66	107
Inventory days	169	143	164	125	113	101	71	77
Payable days	91	51	76	85	64	78	125	176
NWC days	155	148	127	84	86	62	12	8
Leverage
Current ratio	1.61	1.96	2.25	2.29	1.86	1.99	2.22	1.98
Debt to EBITDA	0	0.01	0.01	0	0	0	0	0
Debt to equity	0	0	0	0	0	0	0	0
Interest coverage	131.5	45.1	128.5	168.5	259.1	135.4	169.4	189.5
Asset turnover	1.13	0.99	0.75	0.64	0.93	1	0.99	0.87
Return ratios
Return on assets %	13.5%	14.8%	10.9%	20.2%	14.4%	16.3%	17.8%	14%
Return on capital employed %	32.1%	30%	24.5%	22.6%	31.1%	40.9%	43.5%	35.7%
Return on equity %	23.1%	23%	16.1%	31.5%	25.4%	28.1%	29.5%	24.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%	55.84%
	27.68%	27.28%	27.26%	27.51%	28.09%	28.34%	28.01%	25.44%	23.6%	22.38%	20.81%	20.58%
	11.66%	12.49%	12.71%	12.33%	11.49%	10.92%	10.62%	12.15%	13.88%	14.6%	16.52%	15.98%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	4.82%	4.39%	4.19%	4.32%	4.58%	4.9%	5.53%	6.57%	6.68%	7.18%	6.83%	7.6%
No. of shareholders	—	—	—	—	—	—	—	—	1,84,573	1,72,009	1,58,560	1,53,675

Promoter holding up 0 percentage points since Sep 2023.

51 deals · 21 Sept 2022 – 20 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Apr 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	27,05,416	₹583.06	₹157.74 Cr
20 Apr 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	27,05,416	₹582.69	₹157.64 Cr
20 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	24,83,288	₹582.62	₹144.68 Cr
20 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	24,83,288	₹582.86	₹144.74 Cr
18 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	20,82,514	₹563.34	₹117.32 Cr
18 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	20,82,514	₹563.18	₹117.28 Cr
7 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	21,55,394	₹587.66	₹126.66 Cr
7 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	21,55,394	₹587.23	₹126.57 Cr
26 Nov 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	29,95,453	₹840.30	₹251.71 Cr
26 Nov 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	29,95,453	₹840.85	₹251.87 Cr

1–10 of 51

1 / 6

Mr. Dhruv Manmohan SawhneyExecutive Director-Chairperson related to Promoter-MD
Mr. Nikhil SawhneyExecutive Director-MD
Mr. Tarun SawhneyNon-Executive - Non Independent Director
Mr. Lalit AgarwalChief Financial Officer
Mr. Anil Purushottam KakodkarNon-Executive - Independent Director
Mr. Vijay Kumar ThadaniNon-Executive - Independent Director
Mr. Vipin SondhiNon-Executive - Independent Director
Mr. Pulak Chandan PrasadNon-Executive - Non Independent Director
Mrs. Sonu Halan BhasinNon-Executive - Independent Director
Mrs. Amrita GangotraNon-Executive - Independent Director
Mr. Pulkit BhasinCompany Secretary & Compliance Officer

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 8 fund houses

Held by these funds

8.89%

of the company's equity

All mutual funds

14.78%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

45 schemes · 8 fund houses

		Shares
Multi Cap FundNEW	Nippon India Mutual Fund	38.03 L	219.85	0.39%	1.196%	—
POWER & INFRA FUND	Nippon India Mutual Fund	31.03 L	179.42	2.21%	0.976%	+50,000
Energy Opportunities Fund	ICICI Prudential Mutual Fund	27.9 L	161.3	1.95%	0.878%	-0
Multi Cap FundNEW	ICICI Prudential Mutual Fund	27.04 L	156.31	0.8%	0.85%	—
Small Cap FundNEW	ICICI Prudential Mutual Fund	24.7 L	142.82	1.45%	0.777%	—
Business Cycle Fund	ICICI Prudential Mutual Fund	20.65 L	119.36	0.75%	0.649%	-0
SMALL CAP FUND	Nippon India Mutual Fund	18.43 L	106.53	0.13%	0.58%	-0
Infrastructure Fund	ICICI Prudential Mutual Fund	16.9 L	97.71	1.14%	0.532%	-0

1–8 of 45

1 / 6

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

28

Final dividend2 Sept 2026 · ex-date₹2
Interim dividend9 Feb 2026 · ex-date₹2.25
Final dividend1 Sept 2025 · ex-date₹2
Interim dividend6 Feb 2025 · ex-date₹2
Final dividend6 Sept 2024 · ex-date₹1.3
Interim dividend16 Feb 2024 · ex-date₹1.3
Special dividend16 Feb 2024 · ex-date₹1
Special dividend11 Aug 2022 · ex-date₹0.7
Final dividend11 Aug 2022 · ex-date₹0.85
Interim dividend8 Nov 2021 · ex-date₹0.4
Special dividend8 Nov 2021 · ex-date₹0.6
Final dividend7 Sept 2021 · ex-date₹1.2
Interim dividend14 Nov 2019 · ex-date₹0.5
Final dividend5 Sept 2018 · ex-date₹0.55
Interim dividend20 Nov 2017 · ex-date₹0.45
Final dividend3 Aug 2017 · ex-date₹0.75
Interim dividend18 Aug 2016 · ex-date₹0.45
Interim dividend22 Mar 2016 · ex-date₹0.7
Interim dividend19 Nov 2015 · ex-date₹0.4
Final dividend31 Jul 2015 · ex-date₹0.6
Interim dividend17 Sept 2014 · ex-date₹0.25
Final dividend1 Aug 2014 · ex-date₹0.55
Interim dividend18 Nov 2013 · ex-date₹0.2
Final dividend24 Jul 2013 · ex-date₹0.55
Interim dividend8 Nov 2012 · ex-date₹0.25
Final dividend10 Jul 2012 · ex-date₹0.2
Interim dividend24 Jan 2012 · ex-date₹0.2
Interim dividend8 Nov 2011 · ex-date₹0.25

1

Board meeting to consider results10 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

117 announcementsExport CSV

1 Oct 2026, 7:13 pmCompany Update

Announcement under Regulation 30 (LODR)-Cessation

Cessation PDF

18 Sept 2026, 5:17 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

9 Sept 2026, 9:15 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

9 Sept 2026, 8:20 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

7 Sept 2026, 5:59 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

2 Sept 2026, 7:11 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

18 Aug 2026, 6:07 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Allotment of ESOP / ESPS PDF

17 Aug 2026, 8:42 pmCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript PDF

Date	Category	Subject	Filing
1 Oct 2026, 7:13 pm	Company Update Cessation	Announcement under Regulation 30 (LODR)-Cessation	PDF
18 Sept 2026, 5:17 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	44.2%	46.1%	49.3%	44.8%	48.1%	50.5%	50.1%	46.8%
EBITDA margin %	18%	19%	21%	19.1%	18.7%	19.3%	21.8%	20.7%
EBIT margin %	15.6%	16.6%	18.1%	16.7%	17.1%	18%	20.5%	19.1%
PAT margin %	11.9%	14.9%	14.6%	31.7%	15.5%	16.3%	17.9%	16%
Working capital
Receivable days	77	56	40	43	38	39	66	107
Inventory days	169	143	164	125	113	101	71	77
Payable days	91	51	76	85	64	78	125	176
NWC days	155	148	127	84	86	62	12	8
Leverage
Current ratio	1.61	1.96	2.25	2.29	1.86	1.99	2.22	1.98
Debt to EBITDA	0	0.01	0.01	0	0	0	0	0
Debt to equity	0	0	0	0	0	0	0	0
Interest coverage	131.5	45.1	128.5	168.5	259.1	135.4	169.4	189.5
Asset turnover	1.13	0.99	0.75	0.64	0.93	1	0.99	0.87
Return ratios
Return on assets %	13.5%	14.8%	10.9%	20.2%	14.4%	16.3%	17.8%	14%
Return on capital employed %	32.1%	30%	24.5%	22.6%	31.1%	40.9%	43.5%	35.7%
Return on equity %	23.1%	23%	16.1%	31.5%	25.4%	28.1%	29.5%	24.2%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bharat Heavy Electricals LimitedBHELBHEL	₹1,46,596 Cr	₹1,54,783 Cr	₹35,993 Cr	₹3,383 Cr	6.9%	₹2,432 Cr	4.7%	6.8%	6.3%	119
Hitachi Energy India LimitedPOWERINDIAPOWERINDIA	₹1,39,553 Cr	₹1,39,553 Cr	₹9,163 Cr	₹1,424 Cr	15.4%	₹1,150 Cr	12.1%	28.8%	21%	-42
Cg Power And Industrial Solutions LimitedCGPOWERCGPOWER	₹1,38,443 Cr	₹1,38,443 Cr	₹12,821 Cr	₹1,638 Cr	13.1%	₹973 Cr	9.7%	26.2%	20.4%	48
Siemens Energy India LimitedENRINENRIN	₹1,18,724 Cr	₹1,18,724 Cr	₹9,436 Cr	₹2,024 Cr	19.3%	₹1,488 Cr	14.1%	33.8%	29%	-175
Ge Vernova T&D India LimitedGVT&DGVT&D	₹1,08,882 Cr	₹1,08,882 Cr	₹6,712 Cr	₹1,757 Cr	27.1%	₹1,305 Cr	19.9%	73.2%	55.3%	90
Suzlon Energy LimitedSUZLONSUZLON	₹53,473 Cr	₹53,737 Cr	₹17,429 Cr	₹3,019 Cr	18.1%	₹3,144 Cr	18.9%	31.7%	40.6%	117
Thermax LimitedTHERMAXTHERMAX	₹40,058 Cr	₹42,346 Cr	₹10,839 Cr	₹870 Cr	9.6%	₹593 Cr	6.7%	15.7%	13.7%	-0
Schneider Electric Infrastructure LimitedSCHNEIDERSCHNEIDER	₹30,495 Cr	₹30,939 Cr	₹2,920 Cr	₹336 Cr	12.8%	₹184 Cr	7.4%	28.5%	31.8%	61
Azad Engineering LimitedAZADAZAD	₹18,481 Cr	₹18,938 Cr	₹638 Cr	₹240 Cr	37.4%	₹139 Cr	22.2%	12.4%	9.1%	1,720
Triveni Turbine LimitedTRITURBINETRITURBINE	₹16,849 Cr	₹16,849 Cr	₹2,253 Cr	₹428 Cr	20.7%	₹336 Cr	16%	35.7%	26.3%	8
Karamtara Engineering LimitedKARAMTARAKARAMTARA	₹13,225 Cr	₹14,255 Cr	₹4,312 Cr	₹498 Cr	11.6%	₹229 Cr	5.3%	27.2%	20.8%	—
Atlanta Electricals LimitedATLANTAELEATLANTAELE	₹13,200 Cr	₹13,247 Cr	₹2,001 Cr	₹367 Cr	18.6%	₹224 Cr	10.9%	34.8%	21.7%	74

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	140	82	91	148	188	187	433	196	271	187	111
	-46	-74	-50	-8	-129	-214	-386	86	-197	-11	22
	-70	-19	-48	-124	-21	-2	-75	-288	-76	-111	-141
Net cash flow	24	-11	-6	15	38	-29	-27	-6	-3	65	-8
Free cash flow	97	-1	44	133	176	174	418	157	239	144	39
CFO / Operating profit %	88.5%	49.3%	57.8%	97.8%	120.5%	126.9%	266.5%	83.7%	85%	42.8%	24.7%

Triveni Turbine Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

28

1

Announcements

28

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Triveni Turbine Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends28

Board meetings1

Announcements

Dividends28

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

28

1

28

1