Triveni Turbine Limited , a leading steam turbine manufacturer, has reported a mixed performance for the second quarter of fiscal year 2026. The company achieved record quarterly order booking of ₹6.52 billion, marking a 14% year-over-year growth, primarily driven by robust domestic demand. This surge has propelled the company's total order book to an all-time high of ₹22.20 billion.

Financial Performance

Despite the impressive order booking, Triveni Turbine's revenue remained relatively flat at ₹5.06 billion for Q2 FY26. The company's aftermarket segment continued to show strength, contributing 35% to the overall turnover.

Segment Performance

The Product segment turnover for the quarter stood at ₹3.29 billion, showing a marginal decline of 2% compared to the previous year. However, the Aftermarket segment achieved a record turnover of ₹1.78 billion, representing an 8% increase year-over-year.

Domestic vs. Export Sales

Domestic sales declined by 20% to ₹2.24 billion, while export sales increased by 27% to ₹2.82 billion. The export contribution to sales increased to 56% in Q2 FY26, up from 44% in the same quarter of the previous year.

Order Booking Trends

The company's record order booking was largely driven by domestic orders, which grew by 52% year-over-year to ₹4.07 billion, now contributing 62% to the overall order booking for the quarter. Export order booking, however, declined by 19% year-over-year to ₹2.46 billion, impacted by global trade uncertainties.

Market Segments and Growth Areas

Triveni Turbine continues to witness strong momentum in domestic markets, particularly in sectors such as steel, sugar, cement, and utility power. The company is also expanding its horizons in the Aftermarket business, offering a wider array of customer solutions beyond industrial steam turbines to other rotating equipment.

Outlook

While the company expects back-ended growth in the second half of FY26, it remains optimistic about its market position and growth trajectory. The management highlighted that the outstanding order book has nearly doubled over the past three years, underscoring the company's strong market position and consistent performance.

New Product Development

Triveni Turbine is focusing on R&D to develop new products, including a carbon dioxide-based heat pump and other innovative solutions. The company reports receiving positive feedback on these technologically robust solutions, which are expected to contribute to future growth.

Challenges and Opportunities

Despite facing some uncertainties in global markets, particularly in the United States due to tariff issues, Triveni Turbine remains confident in its diversified business model. The company is actively expanding its capacity and vendor base to meet the anticipated volume growth in business.

As Triveni Turbine navigates through market uncertainties and capitalizes on emerging opportunities, investors and industry observers will be keenly watching its performance in the coming quarters, especially the expected growth in the second half of FY26.

A significant block trade involving shares of Triveni Turbine Ltd (TTL) has been executed on the National Stock Exchange (NSE), signaling notable institutional activity in the industrial equipment manufacturer's stock.

Block Trade Details

The large-volume transaction, involving nearly 1.49 million shares, suggests substantial interest from institutional or bulk investors in Triveni Turbine's stock.

Recent Corporate Action

While not directly related to the block trade, it's worth noting that Triveni Turbine recently made a corporate announcement regarding its employee stock option plan:

• The company allotted 6,000 equity shares under its 'Employee Stock Unit Plan 2023'.
• The shares were issued at a face value of Re. 1 each.
• This allotment increased the company's total issued share capital to Rs. 31,78,86,270, comprising 31,78,86,270 equity shares.

Market Implications

Block trades of this magnitude often attract attention from market participants as they may indicate:

1. Changing perceptions about the company's value
2. Potential shifts in institutional holdings
3. Increased interest in the industrial equipment sector

Investors and analysts may closely monitor Triveni Turbine's stock performance and any subsequent disclosures to gauge the potential impact of this significant transaction on the company's market dynamics.

As always, market participants are advised to conduct their own research and consider their investment goals before making any investment decisions based on this information.