Purchase Triveni Turbine with a 455 rupee goal: Sharekhan

 Purchase Triveni Turbine with a 455 rupee goal: Sharekhan

In its research report dated October 03, 2023, Sharekhan, which is positive on Triveni Turbine, advised a buy recommendation on the company with a target price of Rs 455.

Sharekhan's Triveni Turbine study report

Revenue and operational profit for the second quarter were in line with forecasts, while PAT exceeded estimates as a consequence of greater other income. With foreign orders up 29% year over year to Rs. 635 crore, the order book increased 30% year over year to Rs. 1476 crore. Up 30% year over year, the domestic order book reached Rs. 841 crore. The demand for domestic inquiries has increased 100% year over year, mostly from the steel and cement industries.

Prospects

Because of TTL's promising business and margin tailwinds, we project a revenue/PAT CAGR of around 31% and 33%, respectively, during FY23–FY26E. With an unaltered PT of Rs. 455, we maintain a Buy.

Khan - Triveni Turbine - 04 - 10-2023