Triveni Turbines has uploaded the full transcript of its earnings conference call to its official website, providing investors with a detailed record of management's discussion on the company's standalone and consolidated unaudited financial results for the first quarter ended June 30, 2026. The call took place on August 11, 2026, and the transcript was filed with BSE Limited and the National Stock Exchange of India Limited on August 17, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conference Call Details

The transcript captures the interaction between senior leadership and investors, offering deeper context on the operational and financial outcomes of Q1 FY27. Key participants included Vice Chairman and Managing Director Nikhil Sawhney, CEO S.N. Prasad, CFO Lalit Agarwal, and other senior executives. The filing serves as an official regulatory disclosure, ensuring transparency regarding the company's performance and outlook.

Financial Performance Overview

During the call, management highlighted that revenue from operations rose 19.2% year-on-year to ₹4.43 billion. Domestic sales grew by 27.4% to ₹2.4 billion, while exports increased to ₹2.03 billion, accounting for 48.8% of total revenue compared to 49.3% in Q1 FY26. However, profitability softened significantly. EBITDA stood at ₹797 million with a margin of 18%, down from 25.8% in the prior year period. Profit before tax fell 20.1% to ₹697 million, with margins contracting to 15.7% from 23.5%.

Management attributed the margin compression to a softer order mix from H1 FY26, which carried through to Q1 FY27 execution, and the delivery phasing of strategic orders. Specifically, the NTPC CO2-based energy storage project, taken at negligible margins for technology validation, impacted profitability. Additionally, higher freight rates—up 3x to 4x—led clients to defer export dispatches, shifting revenue recognition to later quarters.

Management Guidance Highlights

Despite the challenging quarter, management maintained its outlook for FY27. Growth is expected to be back-ended, with stronger performance anticipated in the second half of the fiscal year. On margins, the company reaffirmed that a Profit Before Tax (PBT) margin of over 20% is maintainable in the medium to long term. Recovery in both absolute and percentage terms is expected in H2 FY27 as the order mix improves and deferred export orders are executed.

Order Book and Market Dynamics

Order booking for the quarter stood at ₹5.68 billion, up 6.1% year-on-year, driven entirely by exports and aftermarket segments. Export order booking surged 53.4% YoY, accounting for 68% of total orders. The aftermarket segment also gained traction, contributing 39% of total order booking compared to 27% in Q1 FY26. Consequently, the closing order book improved to ₹21.8 billion as of June 30, 2026, up 5.1% YoY from ₹20.74 billion. Export orders constituted 57% of the closing book, while aftermarket orders rose 115% YoY to ₹6.24 billion.

US Subsidiary Update

Regarding the US subsidiary, management acknowledged a substantial loss in Q1 FY27 but expressed confidence in achieving breakeven during FY27. The subsidiary continues to receive healthy enquiries, particularly in the data centre and small modular reactor spaces. Management noted that while product sales may take time to materialise due to longer gestation periods, the refurbishment business is gaining momentum. The focus remains on strengthening local service capabilities and building market presence in the Americas.

Regulatory Compliance

The transcript was signed by Pulkit Bhasin, Company Secretary, confirming compliance with SEBI disclosure norms. The filing ensures that all stakeholders have access to the complete record of the conference call, including the Q&A session where management addressed queries on domestic market weakness, commodity inflation impacts, and future R&D initiatives such as Organic Rankine Cycle developments.

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.