Triveni Turbine Limited announced its performance for Q1 FY13

July 18, 2012 - PRLog -- Noida, July 17, 2012 : Triveni Turbine Limited (TTL), market leader in steam turbines upto 30 MW, today announced its performance for the first quarter ended 30th June 2012 (Q1 FY 13).


PERFORMANCE OVERVIEW:
April - June 2012   v/s April - June 2011
(Q1 FY 13 v/s Q1 FY 12)

•   Income from operations (net) at Rs. 111 crore
•   EBITDA of Rs. 30.1 crore with a margin of 27.0%
•   Profit before Tax (PBT) at Rs. 25.8 crore with a margin of 23.1%
•   Profit after tax (PAT) at Rs.17.4 crore, with a margin of 15.6%
•   EPS for Q1 (not annualized) at ` 0.53 per equity share.

Commenting on the Company’s financial performance, Mr. Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said:

“The capital goods industry in the country is passing through an unprecedented slow-down and the sentiments for fresh investments are quite low.  The company was able to read the market timely and made aggressive foray into the exports market. This strategy has been paying off well as is evident from the higher proportion of exports in the sales and the order intake. The lower sales in the quarter are primarily on account of lower order in-take during the first two quarters of last year and also depends on the requirement of the customer to take delivery and we believe, would get corrected in the subsequent quarters. In capital goods industry, it is not feasible to maintain even quarterly distribution of sales and margins. It is commendable that the company was able to achieve much higher margins even under such challenging and difficult business conditions. It was possible due to more remunerative export orders, constant focus on value engineering and cost control. The overall market remains bearish but some select segments like sugar still offer orders in our range of turbines. The export market remains good for us and we received good orders from Europe, Africa etc.

With the carry forward order book of Rs. 548 crore, we feel we could achieve growth in our business in the coming quarters and an overall growth for the year as well. With the renewed thrust on exports coupled with strong after-market push, we are confident that we can maintain the margins, in spite of reduced market size in the domestic market and higher domestic competition. In the GE Triveni Limited, the execution of its first order is underway. While it has a strong enquiry book from all across the geographies, the order finalisation is taking longer than expected, because of which we are still awaiting new order inflows in the JV. However, we are confident that with the marketing efforts from GE in the global market together with Triveni's strong market leadership in its sub 30 MW range, once the economic scenario improves, JV should see healthy order inflows.


Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Triveni Turbine Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.