Triveni Turbine Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Small Cap

Triveni Turbine announced that the Board of Directors of the Company at its meeting held on 16 May 2024, inter alia, have recommended the final dividend of Rs 1.3 per equity Share (i.e. 130%) , subject to the approval of the shareholders.

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Net profit of Triveni Turbine rose 36.86% to Rs 75.97 crore in the quarter ended March 2024 as against Rs 55.51 crore during the previous quarter ended March 2023. Sales rose 23.88% to Rs 458.05 crore in the quarter ended March 2024 as against Rs 369.76 crore during the previous quarter ended March 2023.

For the full year,net profit rose 39.78% to Rs 269.14 crore in the year ended March 2024 as against Rs 192.54 crore during the previous year ended March 2023. Sales rose 32.58% to Rs 1653.94 crore in the year ended March 2024 as against Rs 1247.55 crore during the previous year ended March 2023.

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Triveni Turbine will hold a meeting of the Board of Directors of the Company on 16 May 2024

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Sawhney graduated with a Master's degree in Mechanical Sciences from Emmanuel College, University of Cambridge, U.K. and an M.B.A. with distinction from the Wharton School, University of Pennsylvania, U.S.A.

Sawhney is chairman of The Triveni Group comprising of Triveni Turbine and Triveni Engineering and Industries.

Meanwhile, the board has also approved the appointment of S.N. Prasad as chief executive officer (CEO) and Sachin Parab as chief operating officer (COO) of the company with effect from 1 April 2024.

S. N. Prasad graduated in Mechanical Engineering from Nagarjuna University in 1991. Besides this, he holds a PG Diploma in Computer Application. He is currently the President and Business Head (Product business) of the Company and he has scaled the same to new heights to help the Company to grow the business sustainably.

Parab graduated in Mechanical Engineering from Walchand College of Engineering in 1991. Besides this, he holds a PG Diploma from Indian Institute of Foreign Trade in 1994. He is currently the president and business head (aftermarket business) and has been associated with the company for more than 7 years.

Triveni Turbine has core competency in the area of industrial steam turbines designing and manufacturing up to 100 MW size. The company is a market leader in industrial steam turbines up to 30 MW in India and also among the leading manufacturers of industrial steam turbines in >5 to 30 MW range globally.

The company’s consolidated net profit jumped 29.7% to Rs 68.19 crore in Q3 FY24 as compared with Rs 52.57 crore in Q3 FY23. Net sales increased 32.5% YoY to Rs 431.70 crore in Q3 FY24.

The counter declined 1.51% to ends at Rs 536.95 on Thursday, 28 March 2024.

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