Triveni Turbine Ltd saw its shares climb over 2% to Rs 636.45 in Tuesday’s trading session after the company secured a significant order worth Rs 290 crore from power giant NTPC. This order involves the installation of a CO2-based standalone Energy Storage System (ESS) with a capacity of 160 MWh at the NTPC Kudgi STPP in Karnataka. The project will be completed within 18 months in collaboration with technology partner Energy Dome.
Chairman and Managing Director Dhruv M Sawhney called the order a landmark move that aligns with India’s renewable energy goals, particularly regarding dispatchable power. NTPC CMD Gurdeep Singh emphasized the advantages of the ESS, highlighting long life, the absence of critical minerals, and minimal performance degradation, making it a sustainable alternative to Battery Energy Storage Systems (BESS).
UBS Initiates ‘Buy’ Rating:
UBS recently initiated coverage on Triveni Turbine with a ‘Buy’ rating and a target price of Rs 900, citing strong prospects in clean energy and compounded quality earnings. The brokerage sees Triveni as a solid global player in renewable steam turbines and a key beneficiary of the energy efficiency trend and domestic captive power capacity addition. UBS highlighted the company’s credible global scale-up potential, which it believes is underappreciated by market consensus. The brokerage expects Triveni Turbine to achieve a 30% earnings growth over FY24-28 due to its strategic focus on expanding operations.
Triveni Turbine’s Recent Performance:
Triveni Turbine shares have recorded a 16% decline over the last month, although its Q2 FY25 results showcased robust performance, including a 42% YoY rise in PAT, 25% growth in order bookings, and a 47% increase in EBITDA.
Stock Performance Details:
- Current Price: Rs 636.45
- Day’s Range: Rs 634.30 – Rs 672.85
- Previous Close: Rs 622.30
- Market Cap: Rs 202.17 billion
- 1-Month Performance: Down 16%
The new order win, coupled with UBS’s optimistic outlook, is expected to contribute positively to the company’s clean energy portfolio and drive future growth.
