Triveni Turbine Limited has submitted its Annual Report for FY 2025-26 and Notice of the 31st Annual General Meeting (AGM) to the stock exchanges. In compliance with Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements on August 15, 2026, in Financial Express (English) and Jansatta (Hindi). These advertisements pertained to the Notice and E-voting information for the 31st AGM, which is scheduled for Wednesday, September 9, 2026, at 3:30 p.m. (IST) through Video Conferencing/Other Audio Visual Means. The deemed venue remains the company's registered office at 401, BPTP Capital City, Sector 94, Noida, Uttar Pradesh.

Record Financial Performance in FY26

Triveni Turbines delivered its highest-ever consolidated Revenue from Operations at ₹21,811 million in FY26, registering growth of 8.7% over FY25. The performance was driven by strong export momentum, with exports increasing 30.1% year-on-year to ₹12.6 billion and contributing 57.7% of full-year revenue. The following table summarises key consolidated financial metrics:

Profit Before Tax, before the exceptional non-recurring charge of ₹157 million towards employee benefit obligations under the new wage code, stood at ₹4.90 billion, with margins at 22.5%. Profit After Tax was ₹3.49 billion, broadly stable compared to the previous year, impacted by the exceptional charge.

Standalone vs Consolidated Performance

The company also disclosed headline figures for standalone financial statements alongside consolidated results for FY26:

Dividend and Share Capital

The Board declared an interim dividend of 225% (₹2.25 per equity share) at its meeting held on February 3, 2026. At its meeting on May 18, 2026, the Board recommended a final dividend of 200% (₹2 per equity share) for FY 2025-26, subject to shareholder approval at the ensuing AGM. The total dividend for FY 2025-26, including the interim dividend, amounts to 425% (₹4.25 per equity share). The record date for the final dividend is Wednesday, September 2, 2026. The total dividend outlay for FY26 stood at ₹1,351 million. The issued, subscribed and paid-up equity capital as on March 31, 2026 was ₹31,78,94,979, divided into 31,78,94,979 equity shares of ₹1/- each.

Order Book and Business Mix

Order booking remained resilient at ₹23,256 million for FY26. The company closed the year with a healthy order book of ₹20,539 million, reflecting an increase of 8% year-on-year. Key highlights of the order and business mix include:

• Exports accounted for 52% of total order bookings during the year
• Aftermarket order bookings surged 41% year-on-year, with its share rising to 38% from 26% in FY25
• The closing aftermarket order book increased by 106.9% year-on-year
• Approximately 65% of overall order bookings were linked to sustainable and clean energy applications
• REFURB™ order bookings surged by 107% year-on-year, primarily driven by international regions
• The product business contributed ₹14.47 billion, accounting for 62% of total order bookings

AGM Details and Key Dates

The following table summarises key dates and information for the 31st AGM:

The AGM agenda includes adoption of audited standalone and consolidated financial statements for FY 2025-26, confirmation of interim dividend and declaration of final dividend, re-appointment of Mr. Dhruv M. Sawhney (DIN: 00102999) who retires by rotation, ratification of remuneration of M/s. J.H & Associates as Cost Auditors for FY 2026-27 at ₹1,40,000 plus applicable taxes, and re-appointment of Mr. Vijay Kumar Thadani (DIN: 00042527) and Mr. Vipin Sondhi (DIN: 00327400) as Independent Non-Executive Directors for a second term of five consecutive years each.

Key Operational and ESG Highlights

Triveni Turbines reported several operational milestones in FY26:

• Achieved a 40% reduction in assembly throughput time and a 25% improvement in subcontract lead times
• R&D expenditure stood at ₹456.46 million for FY26, with 3.2% of FY26 turnover directed towards new technology and innovation
• 12 innovative turbine variants introduced in FY26, with 28.5% of revenue generated from new products and technological solutions
• Total IPR filings reached 418 globally as of March 31, 2026
• CSR outlay for FY26 was ₹63.68 million against an obligation of ₹63.61 million, positively impacting 77,000 beneficiaries
• CO2 emissions avoided through energy efficiency initiatives stood at approximately 1,138 metric tonnes in FY26
• Zero lost time injury frequency rate (LTIFR) and zero fatalities maintained across all manufacturing operations
• Return on equity stood at 26.3% and return on capital employed at 36.4% for FY26

The Annual Report for FY 2025-26, including the Business Responsibility and Sustainability Report and the AGM Notice, is available on the company's website at www.triveniturbines.com . The statutory auditors M/s. Walker Chandiok & Co. LLP issued an unmodified audit opinion on both standalone and consolidated financial statements for the year ended March 31, 2026. ICRA Limited reaffirmed the company's long-term rating of [ICRA] AA+ (Stable) and short-term rating of [ICRA] A1+ during FY 2025-26.

Triveni Turbines reported a 20.6% year-on-year decline in consolidated net profit for the quarter ended June 30, 2026, signaling persistent profitability challenges despite robust top-line expansion. The company posted a net profit of ₹511 million, down from ₹644 million in the corresponding quarter of the previous year. This contraction occurred even as total income from operations surged by 19.2% to ₹4,427 million from ₹3,713 million, highlighting a divergence between revenue generation and bottom-line retention during the period.

The Board of Directors, chaired by Chairman & Managing Director Dhruv M. Sawhney, approved the unaudited financial results on August 10, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were subsequently filed with the stock exchanges and published in newspapers including Business Standard and Business Line on August 11, 2026, pursuant to Regulation 30 and Regulation 47 of the SEBI Listing Regulations.

Revenue Growth Amid Margin Pressure

While the top line showed healthy momentum, the profit before tax (before exceptional items) fell sharply to ₹697 million from ₹872 million in Q1FY25. This indicates that operating costs or input expenses grew at a faster pace than revenues, squeezing margins. The standalone performance mirrored this trend, with standalone net profit declining to ₹505 million from ₹670 million, despite standalone revenue rising to ₹3,968 million from ₹3,446 million.

Key Financial Metrics

The table below outlines the key consolidated financial figures for Q1FY26 compared to the previous year:

Analytical Observation: Impact of Labour Code Remeasurement

A critical context for the current fiscal’s profitability landscape is the one-time charge recognized in the preceding financial year. Pursuant to the implementation of the New Labour Codes, Triveni Turbines recorded a ₹157 million charge towards the remeasurement of employee benefit obligations under Ind AS 19 during the year ended March 31, 2026. This amount was presented as an exceptional item in the Statement of Profit and Loss. While this exceptional item does not directly impact the current quarter’s operational P&L, it reflects broader structural cost adjustments the company is navigating. The current quarter’s decline in net profit is purely operational, driven by the widening gap between revenue growth and profit retention, suggesting potential pricing pressures or higher input costs in the turbine manufacturing sector.