TRITURBINE
Triveni Turbine Limited
Steam turbines up to 100 MW and lifecycle solutions for turbines up to 1,000 MW
Industrials›Capital Goods›Electrical Equipment›Heavy Electrical Equipment
triveniturbines.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹495.90
Market cap
15,838 Cr
Stock P/E
47.1
P/B
10.89
Dividend yield
0.9%
ROE (FY26)
24.2%
ROCE (FY26)
32.9%
Operating margin (FY26)
19.1%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
24.7%
OCF / EBITDA (3Y)
47.2%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Triveni Turbine makes steam turbines and sells aftermarket and refurbishment services for them to industrial and power customers in India and overseas.
Company snapshot
13thBy market cap
Ranked among 38 companies in Heavy Electrical Equipment.
What we see
Positives
- ✓Net margin of 16.0% — the business keeps a healthy share of every rupee it earns.
Concerns
- ✗Only 47% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 388 Cr | 432 Cr | 458 Cr | 463 Cr | 501 Cr | 503 Cr | 538 Cr | 371 Cr | 506 Cr | 624 Cr | 680 Cr | 443 Cr |
| Operating expenses (approx.) | 313 Cr | 348 Cr | 368 Cr | 368 Cr | 390 Cr | 394 Cr | 418 Cr | 298 Cr | 392 Cr | 490 Cr | 552 Cr | 391 Cr |
| EBITDA | 74 Cr | 84 Cr | 90 Cr | 96 Cr | 111 Cr | 109 Cr | 120 Cr | 74 Cr | 115 Cr | 134 Cr | 128 Cr | 51 Cr |
| OPM % | 19.2% | 19.4% | 19.6% | 20.6% | 22.2% | 21.7% | 22.4% | 19.8% | 22.6% | 21.5% | 18.8% | 11.6% |
| Other income | 15 Cr | 17 Cr | 17 Cr | 19 Cr | 20 Cr | 22 Cr | 20 Cr | 22 Cr | 18 Cr | 20 Cr | 16 Cr | 28 Cr |
| Interest | 0.59 Cr | 0.59 Cr | 0.74 Cr | 1 Cr | 0.80 Cr | 0.40 Cr | 0.70 Cr | 0.80 Cr | 0.40 Cr | 0.70 Cr | 0.70 Cr | 0.60 Cr |
| Depreciation | 5 Cr | 5 Cr | 5 Cr | 6 Cr | 6 Cr | 7 Cr | 8 Cr | 8 Cr | 8 Cr | 9 Cr | 9 Cr | 9 Cr |
| Profit before tax | 83 Cr | 95 Cr | 101 Cr | 108 Cr | 124 Cr | 125 Cr | 132 Cr | 87 Cr | 125 Cr | 127 Cr | 134 Cr | 70 Cr |
| Tax % | 22.9% | 27.9% | 24.9% | 25.4% | 26.7% | 25.7% | 28.4% | 26.1% | 26.6% | 27.7% | 24.2% | 26.7% |
| Net profit | 64 Cr | 68 Cr | 76 Cr | 80 Cr | 91 Cr | 93 Cr | 95 Cr | 64 Cr | 91 Cr | 92 Cr | 102 Cr | 51 Cr |
| EPS (₹) | ₹2.02 | ₹2.15 | ₹2.39 | ₹2.52 | ₹2.85 | ₹2.92 | ₹2.99 | ₹2.03 | ₹2.87 | ₹2.89 | ₹3.21 | ₹1.60 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 766 Cr | 753 Cr | 840 Cr | 818 Cr | 703 Cr | 852 Cr | 1,248 Cr | 1,654 Cr | 2,006 Cr | 2,181 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 599 Cr | 596 Cr | 689 Cr | 662 Cr | 555 Cr | 690 Cr | 1,014 Cr | 1,335 Cr | 1,569 Cr | 1,731 Cr | Sign in free for the trailing twelve months |
| EBITDA | 166 Cr | 158 Cr | 151 Cr | 156 Cr | 148 Cr | 163 Cr | 234 Cr | 319 Cr | 437 Cr | 450 Cr | Sign in free for the trailing twelve months |
| OPM % | 21.7% | 20.9% | 18.0% | 19.0% | 21.0% | 19.1% | 18.7% | 19.3% | 21.8% | 20.6% | Sign in free for the trailing twelve months |
| Other income | 29 Cr | 8 Cr | 16 Cr | 15 Cr | 19 Cr | 29 Cr | 43 Cr | 62 Cr | 81 Cr | 77 Cr | Sign in free for the trailing twelve months |
| Interest | 0.33 Cr | 0.53 Cr | 1 Cr | 3 Cr | 1 Cr | 1 Cr | 0.99 Cr | 3 Cr | 3 Cr | 3 Cr | Sign in free for the trailing twelve months |
| Depreciation | 15 Cr | 19 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 21 Cr | 26 Cr | 34 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 185 Cr | 144 Cr | 149 Cr | 156 Cr | 132 Cr | 365 Cr | 256 Cr | 358 Cr | 489 Cr | 473 Cr | Sign in free for the trailing twelve months |
| Tax % | 33.1% | 33.2% | 32.9% | 21.9% | 22.4% | 25.9% | 24.5% | 24.7% | 26.6% | 26.1% | Sign in free for the trailing twelve months |
| Net profit | 124 Cr | 96 Cr | 100 Cr | 122 Cr | 102 Cr | 270 Cr | 193 Cr | 269 Cr | 359 Cr | 349 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹3.74 | ₹2.91 | ₹3.05 | ₹3.77 | ₹3.17 | ₹8.36 | ₹5.97 | ₹8.47 | ₹11.28 | ₹11.00 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 26.3% | 26.0% | 27.1% | 29.3% | 38.7% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 33 Cr | 33 Cr | 32 Cr | 32 Cr | 32 Cr | 32 Cr | 32 Cr | 32 Cr | 32 Cr | 32 Cr |
| Reserves | 370 Cr | 419 Cr | 401 Cr | 498 Cr | 605 Cr | 824 Cr | 729 Cr | 928 Cr | 1,185 Cr | 1,414 Cr |
| Borrowings | 0.24 Cr | 0.05 Cr | — | 0.96 Cr | — | 0.15 Cr | — | — | — | — |
| Other liabilities | 240 Cr | 301 Cr | 308 Cr | 291 Cr | 304 Cr | 477 Cr | 579 Cr | 692 Cr | 800 Cr | 1,051 Cr |
| Total liabilities | 644 Cr | 753 Cr | 741 Cr | 822 Cr | 942 Cr | 1,335 Cr | 1,340 Cr | 1,654 Cr | 2,019 Cr | 2,497 Cr |
| Fixed assets (net) | 227 Cr | 221 Cr | 251 Cr | 243 Cr | 244 Cr | 238 Cr | 261 Cr | 275 Cr | 317 Cr | 353 Cr |
| CWIP | 10 Cr | 39 Cr | 4 Cr | 6 Cr | 0 Cr | 3 Cr | 5 Cr | 1 Cr | 19 Cr | 17 Cr |
| Investments | 17 Cr | 20 Cr | 19 Cr | 152 Cr | 296 Cr | 478 Cr | 379 Cr | 458 Cr | 348 Cr | 304 Cr |
| Loans & advances | — | — | 0.24 Cr | 0.19 Cr | 0 Cr | 0.02 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Inventories | 146 Cr | 181 Cr | 217 Cr | 173 Cr | 160 Cr | 162 Cr | 200 Cr | 226 Cr | 195 Cr | 244 Cr |
| Trade receivables | 151 Cr | 208 Cr | 175 Cr | 125 Cr | 77 Cr | 101 Cr | 129 Cr | 178 Cr | 363 Cr | 639 Cr |
| Cash & bank | 18 Cr | 12 Cr | 27 Cr | 66 Cr | 37 Cr | 33 Cr | 30 Cr | 29 Cr | 98 Cr | 101 Cr |
| Other assets | 75 Cr | 74 Cr | 48 Cr | 57 Cr | 128 Cr | 320 Cr | 336 Cr | 486 Cr | 679 Cr | 839 Cr |
| Total assets | 644 Cr | 753 Cr | 741 Cr | 822 Cr | 942 Cr | 1,335 Cr | 1,340 Cr | 1,654 Cr | 2,019 Cr | 2,497 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 82 Cr | 91 Cr | 148 Cr | 188 Cr | 187 Cr | 433 Cr | 196 Cr | 271 Cr | 187 Cr | 111 Cr |
| Cash from investing | -74 Cr | -50 Cr | -8 Cr | -129 Cr | -214 Cr | -386 Cr | 86 Cr | -197 Cr | -11 Cr | 22 Cr |
| Cash from financing | -19 Cr | -48 Cr | -124 Cr | -21 Cr | -2 Cr | -75 Cr | -288 Cr | -76 Cr | -111 Cr | -141 Cr |
| Net cash flow | -11 Cr | -6 Cr | 15 Cr | 39 Cr | -29 Cr | -27 Cr | -3 Cr | -0.59 Cr | 69 Cr | 3 Cr |
| Free cash flow (OCF − Capex) | -1 Cr | 44 Cr | 133 Cr | 176 Cr | 174 Cr | 418 Cr | 157 Cr | 239 Cr | 144 Cr | 39 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 45.8% | 31.9% | 34.7% | 30.0% | 20.9% | 42.7% | 33.7% | 37.5% | 40.3% | 32.9% |
| ROE % | 30.6% | 21.2% | 23.1% | 23.0% | 16.1% | 31.5% | 25.3% | 28.0% | 29.3% | 24.2% |
| Debtor days | 72 | 100 | 76 | 56 | 40 | 43 | 38 | 39 | 66 | 107 |
| Inventory days | 137 | 174 | 155 | 149 | 162 | 136 | 108 | 96 | 75 | 76 |
| Days payable | 89 | 141 | 83 | 53 | 76 | 92 | 62 | 74 | 132 | 174 |
| Cash conversion cycle | 120 | 133 | 147 | 152 | 126 | 88 | 84 | 61 | 9 | 9 |
| OCF / EBITDA % | 49.3% | 57.8% | 97.8% | 120.5% | 126.9% | 266.5% | 83.7% | 85.0% | 42.8% | 24.7% |
| OCF / EBITDA % (3 years) | — | — | 67.6% | 91.8% | 115.0% | 173.5% | 150.1% | 125.9% | 66.1% | 47.2% |
| Debt / equity | 0.0006 | 0.0001 | 0.00 | 0.0018 | 0.00 | 0.0002 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current ratio | 1.64 | 1.64 | 1.61 | 1.96 | 2.25 | 2.29 | 1.86 | 1.99 | 2.22 | 1.98 |
| Net debt / EBITDA | -0.10 | — | -0.18 | -0.42 | -0.25 | -0.20 | -0.13 | -0.09 | -0.22 | -0.22 |