Triveni Turbine Ltd(TRITURBINE)

NSE: TRITURBINEBSE: 533655

₹ 445.5-1.85%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 14,162 crWebsite: www.triveniturbines.comUpdated: 24 Oct 2026

About

Triveni Turbine Ltd manufactures industrial steam turbines up to 100 MW and provides refurbishment and lifecycle solutions for turbines up to 1,000 MW, serving 20+ industries across 80+ countries. With over 6,000 installations worldwide generating over 16 GW of power, it operates four manufacturing facilities across India, South Africa, and the USA.^[1]

Business segments

Products segment: design and manufacture of steam turbines up to 100 MW (steam inlet temperature up to 545°C, pressure up to 140 Bar(a)) for power generation and industrial drive applications.^[1]
Aftermarket segment (Triveni REFURB™): refurbishment, retrofit, upgrades, automation, modernisation and efficiency enhancement for turbines up to 1,000 MW across global OEM platforms.^[1]
Export revenue was 58% of FY26 revenue (vs 48% in FY25); export share of revenue was 48.8% in Q1 FY27 (vs 49.3% in Q1 FY26).^[2][3]

Order book and inflows

FY26 product business order bookings were ₹14.47bn, 62% of total order bookings.^[1]
FY26 aftermarket order bookings rose 41% year-on-year to ₹8.78bn; REFURB™ order bookings rose 107%.^[1]
Closing order book was ₹21.80 billion as of June 30, 2026, up 5.1% YoY; Q1 FY27 order booking was ₹5.68 billion, up 6.1% YoY.^[3]
Aftermarket was 39% of order booking in Q1 FY27 (vs 27% in Q1 FY26) and 29% of closing order book at June 30, 2026 (vs 14%); aftermarket order book ₹6.24 billion, up 115% YoY.^[3]
Export order booking grew 53.4% YoY in Q1 FY27 to 68% of total (vs 47% in Q1 FY26); exports were 57% of the Q1 FY27 closing order book.^[3][2]
Domestic order booking fell 35.4% YoY in Q1 FY27 amid broad-based enquiry softness in India.^[3]
Tariffs and geopolitical unrest delayed finalisation of international orders late in FY26.^[1]
Product enquiry book reached ~18 GW by FY26, nearly double FY25; North America enquiry book grew ~1,000% to ~3 GW.^[2]

Products and technology

Product families: condensing, backpressure and API (612/611) steam turbines, ORC turbines, CO₂ expanders, CO₂ heat pumps, centrifugal steam compressors for MVR, and steam generating heat pumps.^[1]
India's first transcritical CO₂ high-temperature industrial heat pump launched August 2025 (heat up to 120°C, COP of 6), developed with IISc Bengaluru.^[1]
India's first 160 MWh CO₂-based long-duration energy storage system executed at NTPC Kudgi, Karnataka, with technology partner Energy Dome.^[1]
418 global IPR filings as of March 31, 2026, with 2 R&D centres and ~5% of revenue invested in innovation.^[1]

Manufacturing and operations

Four manufacturing facilities: Peenya and Sompura (Bengaluru), Pretoria (South Africa) and Houston (Texas, USA).^[1]
A fourth dynamometer test bed was commissioned at Sompura in Q2 FY26.^[4]
Houston (TTAI) facility upgraded in FY26 with advanced equipment to raise service capacity.^[1]

Customers and markets

Serves 20+ industries in 80+ countries, including steel, cement, oil & gas, chemicals, sugar, pulp & paper, pharmaceuticals, geothermal, refineries and fertilisers.^[1]
Over 6,000 turbine installations worldwide generating over 16 GW as of FY26.^[1]
Approved vendor with NTPC and major EPCs; utility drive turbine sub-market estimated at ~50-55 turbines and ~8 GW over 2-3 years (Q2 FY26).^[4]

Subsidiaries

Triveni Turbines Americas Inc., Houston: OEM and refurbishment services for the Americas; losses in Q1 FY27, break-even targeted for FY27, product order revenues expected from FY28.^[1]
Triveni Turbines Africa acquired TSE Engineering effective October 30, 2025 for ZAR 10.97 million (₹56 million); scope widening to Sub-Saharan Africa.^[1]
Other subsidiaries: Triveni Turbines (Europe) (UK), Triveni Turbines FZCO (Dubai) and Triveni Energy Solutions Limited (India).^[1]

Expansion and new businesses

Sompura assembly bay expansion: most capex capitalised by end FY26, new bay targeted operational by June-July 2026.^[4]
NTPC CO₂ storage project (~₹175 crore) executed at near-zero margin in Q1 FY27; commissioning expected end Q2 or early Q3 FY27.^[3]
Initial MVR orders (~7-8 units) under execution; first commercial heat pump order received for FY27 execution.^[3]
ORC turbine enquiry pipeline growing globally, including the Americas, for low-heat recovery and geothermal uses.^[3]
COO role moved to business transformation with a focus on AI initiatives as of Q1 FY27.^[3]

Market Cap

₹14,162 Cr

High / Low

₹788 / 429

Stock P/E

42.1

Price / Book

9.8

Book Value

₹45

EPS

₹11.0

No. of Shares

31.79 Cr

ROCE

36.0%

ROE

26.3%

OPM

21.8%

Debt / Equity

0.00

Sales

₹2,181 Cr

Net Profit

₹349 Cr

Promoter holding

55.8%

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