Triveni Turbine Ltd has reported a year-on-year growth of around 27 per cent in its new order inflow during Q1 of FY24.
In a release, Triveni Turbines said that it received order bookings of Rs.4.53 billion in Q1 of FY24, registering a year-on-year growth of 26.6 per cent.
The outstanding order book position, as of June 30, 2023, was Rs.14.05 billion – up 31.4 per cent from its comparable level of 2022.
Growth in export sales
Commenting on the company’s performance in Q1 of FY24, Dhruv M. Sawhney, Chairman & Managing Director, Triveni Turbine Ltd, said, “Following stellar order booking in the last year, export sales grew at 88 per cent during Q1 FY 24 and the contribution to the overall sales inched up to 48 per cent as compared to 37 per cent in the previous corresponding quarter. We are also enthused by our order booking in the international markets during the quarter which grew by 128 per cent and contributing to more than half (53 per cent) of the overall order booking. This progressive improvement bodes well for future sales where a healthy mix uplifts the profitability along with creating more future business opportunities for the company.”
Aftermarket segment
Coupled with contribution from the order in the SADC (South Africa Development Community) region for servicing utility turbines, order booking for the aftermarket segment grew 43 per cent year-on-year to reach Rs.1.46 billion in Q1 of FY24.
Dominant player
Triveni Turbines provides industrial heat and power solutions and decentralized steam-based renewable turbines up to 100 mw size. The company is a dominant player in industrial steam turbines in India and also among the leading manufacturers of industrial steam turbines globally.
Featured photograph shows a manufacturing facility of Triveni Turbine Ltd
