Triveni Turbine logo

Triveni Turbine share price

NSE: TRITURBINEBSE: 533655Electrical EquipmentSmall Cap

Triveni Turbine Limited · Face value ₹1 · Listed Oct 2011
Last close ₹469.60up ₹14.00 (3.07%)BSE ₹469.60

Share price at the NSE close on 29 Oct 2026. Previous close ₹455.60.

29 Oct: open ₹456.00, high ₹472.20, low ₹452.00

52-week range of traded prices to 29 Oct 2026
₹428.35Low, 23 Mar 2026₹787.60High, 29 May 2026
Market cap
₹14,929 Cr379th largest listed
P/E
44.39
P/B
10.32
Dividend yield
0.91%
ROE
25.3%
ROCE
27.1%
Debt to equity
0.00
Volume, NSE
4,01,382

Triveni Turbine share price chart

Daily closes since Oct 2011, adjusted for splits and bonuses

−12.4%over a year

Results20-session average 4,95,177 shares a day, 52.3% delivered

About Triveni Turbine

Triveni Turbine Limited is a Noida-based maker of industrial steam turbines that serves industrial customers in India and abroad.12 Its turbines are used for power generation, combined heat and power and mechanical drives, and it services and refurbishes turbines and other rotating equipment of any make.34 Its customers include sugar mills, distilleries, cement, steel, chemical and paper plants, and renewable energy producers.5

Triveni Turbine makes steam turbines, including API turbines built to American Petroleum Institute standards, and its refurbishment work, which includes a dedicated division, Triveni REFURB, covers turbines of up to 1,000 MW (megawatts) on other makers' platforms.64 It also develops CO2-based heat pumps and chillers, Organic Rankine Cycle turbines that recover waste heat for power, and turbines for CO2-based energy storage.73

It has 4 manufacturing facilities: 2 in Bengaluru (Peenya and Sompura), 1 in Pretoria, South Africa, and 1 in Houston, United States, where subsidiaries run assembly and repair facilities.8 Its more than 6,000 turbine installations in over 80 countries have over 16 GW (gigawatts) of generating capacity, across more than 20 industries.9 Its turbine business began in 1968, serving the sugar industry at first.10 It was incorporated in 1995.1

Its promoter directors are Dhruv M. Sawhney, chairman and managing director, and his sons Nikhil Sawhney, vice chairman and managing director, and Tarun Sawhney, a non-executive director who is vice chairman and managing director of Triveni Engineering & Industries Limited.1112

Triveni Turbine key points

Results

  • In the quarter to Jun 2026, revenue from operations rose 19.2% to ₹4.43 billion; EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹797 million, an 18% margin against 25.8%, and profit before tax fell 20.1% to ₹697 million.13
  • In the year to Mar 2026, consolidated revenue from operations was ₹21,811 million, up 8.7% and the highest in the company's history; EBITDA rose 1.7% to ₹5,268 million, at a margin of 24.2% against 25.8%.14
  • Consolidated profit after tax for the year to Mar 2026 was ₹3,494 million, after a one-time charge of ₹157 million for employee benefit obligations under the new wage code.1516

Business segments

  • Product (new turbines). Product sales were 72.5% of revenue in the year to Mar 2026 and grew 16.0%; product orders booked were ₹14.47 billion, 62% of the year's order booking.1718
  • Aftermarket (spares, service and refurbishment). Aftermarket sales fell to ₹5,995 million in the year to Mar 2026, 27.5% of revenue; aftermarket orders booked rose 41% to ₹8.78 billion, 38% of the year's order booking, and refurbishment bookings rose 107%.1920

Where revenue comes from

  • Exports were 57.7% of consolidated revenue in the year to Mar 2026, rising 30.1% to ₹12.6 billion, with the domestic business at 42.3%; exports were 52% of the year's order booking.2122
  • In the quarter to Jun 2026, domestic sales grew 27.4% to ₹2.4 billion.23

Order book

  • The order book (orders received but not yet delivered) was ₹21.80 billion at the end of June 2026, up 5.1% from a year earlier; exports were 57% of it and the aftermarket 29%, against 14% a year earlier.2425
  • Orders booked in the quarter to Jun 2026 rose 6.1% to ₹5.68 billion; exports were 68% and the aftermarket 39% of the total, while domestic orders fell 35.4%.2627

Research and development

  • As of 31 March 2026, Triveni Turbine had 418 intellectual property filings worldwide, concentrated in turbomachinery and CO2-based power systems.28
  • Triveni Turbine's research and engineering team has 170 members, 15% of the workforce, and works with IISc, IIT Madras, ITSM Stuttgart, Politecnico di Milano and the University of Genoa.2930
  • In August 2025 the company launched what it calls India's first CO2 heat pump, developed with IISc Bengaluru; it also has orders for mechanical vapour recompression systems (steam compressors) under execution.3132
  • As of its annual report of 14 Aug 2026, Triveni Turbine was executing what it calls India's first CO2-based long-duration energy storage system, of 160 MWh (megawatt-hours), a proof-of-concept project at NTPC's Kudgi plant in Karnataka with Energy Dome; it makes the CO2 turbines.3334

Expansion and capital spending

  • The company stated in its annual report for the year to Mar 2026 that it is expanding its Sompura plant in Bengaluru with a new bay, gantry and 5-axis blade polishing machines.35
  • Additions to property, plant and equipment and intangible assets, excluding right-of-use (leased) assets, were ₹673 million in the year to Mar 2026, mainly corporate office infrastructure, plant and machinery, and the Sompura facility extension, still under construction.36
  • The company stated in its annual report for the year to Mar 2026 that it is expanding its in-house Load Test Centre for turbines, targeted to be ready in the year to Mar 2027.37

What the company expects

  • On its earnings call of 11 Aug 2026, the company said it expects revenue and profit to grow in the year to Mar 2027, and margins to improve in the second half of that year.38
  • On its earnings call of 11 Aug 2026, the company said it believes it can maintain a profit before tax margin of over 20% in the medium and long term.39
  • On its earnings call of 11 Aug 2026, the company said it is targeting break-even for its US subsidiary in the year to Mar 2027, after a substantial loss there in the quarter to Jun 2026.40
  • On its earnings call of 11 Aug 2026, the company said the NTPC Kudgi energy storage project was due for commissioning in the quarter to Sep 2026; the company's documents give no outcome.41

Recent events

  • On 18 Sep 2026, ICRA reaffirmed the company's bank facility ratings (an assessment of its ability to repay) at AA+ (Stable) long term and A1+ short term, and assigned A1+ to added short-term facilities, as the total rose from ₹889.50 crore to ₹1,099.50 crore.42
  • TSE Engineering (Pty) Ltd was merged into Triveni Turbines Africa (Pty) Ltd, both step-down subsidiaries (subsidiaries of a subsidiary) in South Africa, effective 1 Apr 2026.43
  • On 30 Oct 2025, its subsidiary Triveni Turbines FZCO bought the remaining 30% of TSE Engineering for ₹56 million, making it wholly owned.44

Last updated

All 44 sources, each with its page
  1. 1. Annual report, 14 Aug 2026, page 1
  2. 2. Annual report, 14 Aug 2026, page 60
  3. 3. Annual report, 14 Aug 2026, page 57
  4. 4. Annual report, 14 Aug 2026, page 8
  5. 5. Annual report, 14 Aug 2026, page 60
  6. 6. Annual report, 14 Aug 2026, page 26
  7. 7. Annual report, 14 Aug 2026, page 26
  8. 8. Annual report, 14 Aug 2026, page 7
  9. 9. Annual report, 14 Aug 2026, page 10
  10. 10. Annual report, 14 Aug 2026, page 4
  11. 11. Annual report, 14 Aug 2026, page 43
  12. 12. Annual report, 14 Aug 2026, page 46
  13. 13. Earnings call, 11 Aug 2026, page 3
  14. 14. Annual report, 14 Aug 2026, page 35
  15. 15. Annual report, 14 Aug 2026, page 37
  16. 16. Annual report, 14 Aug 2026, page 19
  17. 17. Annual report, 14 Aug 2026, page 35
  18. 18. Annual report, 14 Aug 2026, page 29
  19. 19. Annual report, 14 Aug 2026, page 35
  20. 20. Annual report, 14 Aug 2026, page 29
  21. 21. Annual report, 14 Aug 2026, page 35
  22. 22. Annual report, 14 Aug 2026, page 20
  23. 23. Earnings call, 11 Aug 2026, page 3
  24. 24. Investor presentation, 10 Aug 2026, page 30
  25. 25. Investor presentation, 10 Aug 2026, page 32
  26. 26. Investor presentation, 10 Aug 2026, page 30
  27. 27. Earnings call, 11 Aug 2026, page 3
  28. 28. Annual report, 14 Aug 2026, page 32
  29. 29. Annual report, 14 Aug 2026, page 12
  30. 30. Annual report, 14 Aug 2026, page 57
  31. 31. Annual report, 14 Aug 2026, page 29
  32. 32. Annual report, 14 Aug 2026, page 12
  33. 33. Annual report, 14 Aug 2026, page 9
  34. 34. Annual report, 14 Aug 2026, page 32
  35. 35. Annual report, 14 Aug 2026, page 30
  36. 36. Annual report, 14 Aug 2026, page 35
  37. 37. Annual report, 14 Aug 2026, page 32
  38. 38. Earnings call, 11 Aug 2026, page 5
  39. 39. Earnings call, 11 Aug 2026, page 10
  40. 40. Earnings call, 11 Aug 2026, page 13
  41. 41. Earnings call, 11 Aug 2026, page 5
  42. 42. Exchange filing, 18 Sep 2026, page 1
  43. 43. Exchange filing, 15 Apr 2026, page 1
  44. 44. Annual report, 14 Aug 2026, page 61

Results

Consolidated; ₹ crore.Triveni Turbine quarterly results

Revenue growth, 12 months
+17.7%
Net profit growth, 12 months
−1.6%

Quarter to Jun 2026, against the quarter before

Revenue
₹443 Crdown 34.86%
Net profit
₹51 Crdown 49.85%
Net margin
11.5%

Revenue by quarter

₹501 CrSep 24₹503 CrDec 24₹538 CrMar 25₹371 CrJun 25₹506 CrSep 25₹624 CrDec 25₹680 CrMar 26₹443 CrJun 26
Peak revenue ₹680 Cr, quarter to Mar 2026; lowest ₹371 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

₹91 CrSep 24₹93 CrDec 24₹95 CrMar 25₹64 CrJun 25₹91 CrSep 25₹92 CrDec 25₹102 CrMar 26₹51 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue501503538371506624680443
Net profit91939564919210251
Net margin18.2%18.4%17.6%17.3%18.1%14.7%15.0%11.5%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Manufacture of Steam Turbines & Part thereof, which carries all its revenue.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.Triveni Turbine PE ratio and valuation

Price to earnings

At or below today's level on 50% of 2,479 trading days over the last 10 years.

LowestHighest
Its median43.99Industry median33.53
Price to book

At or below today's level on 52% of 1,977 trading days since Nov 2018.

LowestHighest
Its median9.72Industry median5.23
Dividend yield

At or below today's level on 78% of 2,434 trading days over the last 10 years.

LowestHighest
Its median0.57%Industry median0.35%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−21.0%−2.5%−20.0%1.0%
3 years+10.5%+22.6%−10.5%0.8%
5 years+34.7%+28.3%+4.5%0.7%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2021.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Triveni Turbine shareholding pattern

Shareholding by group

  • Promoters55.84%
  • Foreign institutions18.39%
  • Indian institutions17.85%
  • Individuals and others7.93%
Holder
Subhadra Trade and Finance LimitedPromoter27.28%
Rati SawhneyPromoter10.34%
Dhruv Manmohan SawhneyPromoter8.22%
Tarun SawhneyPromoter4.31%
Nikhil SawhneyPromoter3.93%
NALANDA INDIA EQUITY FUND LIMITEDForeign portfolio investors, category I3.87%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −2.19 pts, Indian institutions +1.87 pts, mutual funds +1.64 pts.

Mutual fund holdings

105 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 56 of the 65 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 105 funds holding Triveni Turbine

Bought for the first time
2
Bought again
1
Added
27
Cut
38
Held unchanged
37
Sold out
1
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.Triveni Turbine insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Triveni Turbine competitors and peers

Heavy Electrical Equipment, 48 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Triveni Turbine in market cap.Capital goods stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Thermax logoThermaxTHERMAX38,04864.126.86+4.7%−11.6%11.3%8.3%0.63%
Schneider Electric Infrastructure logoSchneider Electric InfrastructureSCHNEIDER27,035147.1234.91+9.6%−29.5%27.5%24.7%0.00%
TD Power Systems logoTD Power SystemsTDPOWERSYS23,12784.1021.58+54.3%+45.3%28.5%32.8%0.15%
Azad Engineering logoAzad EngineeringAZAD16,364117.7310.70+28.7%+39.5%9.5%9.0%0.00%
Atlanta Electricals logoAtlanta ElectricalsATLANTAELE12,81958.9513.80––23.4%34.7%0.00%
Karamtara Engineering logoKaramtara EngineeringKARAMTARA11,240––––––0.00%
Quality Power Electrical Equipments logoQuality Power Electrical EquipmentsQPOWER11,08183.1220.44––27.6%21.3%0.09%
Voltamp Transformers logoVoltamp TransformersVOLTAMP10,29531.845.51+22.9%−1.6%18.4%19.3%0.98%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Triveni Turbine dividend history

Dividend per share, ₹, restated for later splits and bonuses

1.2Mar 171Mar 18Mar 190.5Mar 201.2Mar 212.6Mar 22Mar 233.6Mar 244Mar 254.3Mar 26
Highest ₹4.25 a share, year to Mar 2026.
Ex-dateTypePer share
2 Sep 2026Final₹2.00
9 Feb 2026Interim₹2.25
1 Sep 2025Final₹2.00
6 Feb 2025Interim₹2.00
6 Sep 2024Final₹1.30
16 Feb 2024Interim₹1.30
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Triveni Turbine announcements

Triveni Turbine share price by year

Each calendar year to 2025.Triveni Turbine share price history

YearClose at year endChangeHighest closeLowest close
2025538.25−27.4%778.05477.35
2024741.35+74.8%834.85354.00
2023424.15+63.0%445.30244.60
2022260.25+37.4%304.25151.25
2021189.45+133.3%221.4080.95
202081.20−13.7%100.0549.10
201994.05−14.9%122.1083.75
2018110.50−17.3%134.5596.10
2017133.55+12.4%157.10113.20
2016118.85+5.3%129.6590.10
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026453.00463.80450.30455.60456.332,85,92840.3%
27 Oct 2026446.60459.00446.00452.20452.275,11,73356.2%
26 Oct 2026445.05454.50437.70446.60445.743,45,26744.9%
23 Oct 2026450.05452.70432.85445.05438.736,20,65153.6%
22 Oct 2026456.90459.85445.10453.05453.1417,60,52669.0%
21 Oct 2026485.00489.90456.70459.90464.335,46,24850.9%
19 Oct 2026494.65495.90483.00484.70487.033,16,63151.3%
16 Oct 2026508.60510.00494.15495.90499.115,67,57049.6%
15 Oct 2026522.75527.00503.15506.10510.063,90,91549.4%
Prices in ₹ per share as traded, not adjusted.

Company details

Chairperson and managing director
Dhruv Manmohan Sawhney
At the end of the quarter to Sep 2026
Managing director
Nikhil Sawhney
At the end of the quarter to Sep 2026
NSE symbol
TRITURBINE
BSE code
533655
ISIN
INE152M01016
Industry
Electrical Equipment
CIN
L29110UP1995PLC041834
Corporate identity number, the registrar of companies' code for it
Incorporated
1995
Registered office
Unit No. 401, 4th Floor, BPTP Capital City, Sector 94, Noida 201301, Uttar Pradesh
Share registrar
Alankit Assignments Ltd
Keeps the register of shareholders and handles transfers and dividend payments