Triveni Turbine - Charged Up; Well Positioned Across Markets: Motilal Oswal

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Motilal Oswal Report

We recently interacted with the management of Triveni Turbine Ltd. to understand the market potential and growth strategy of the company.

Triveni Turbine is ideally positioned to capture the upswing in private capex cycle as well as growth in the renewables space in international markets.

The domestic market, though weak in the last quarter, is likely to start improving post-elections. Order inflows have been growing steadily in international markets for Triveni Turbine as well as for its competitors such as Siemens Energy, and Baker Hughes, indicating strong market potential.

The company will continue to focus on increasing its share of exports and the aftermarket, while also concentrating on maintaining strong margins.

We tweak our estimates by 2%/3% for FY25/26, and reiterate our 'Buy' rating with a revised target price of Rs 570.

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Motilal Oswal Triveni Turbine Company Update.pdf

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