Triveni Turbine Ltd (TTL) is a leading Indian manufacturer of industrial steam turbines, specializing in energy-efficient solutions for captive power, renewable energy (biomass, waste-to-energy, geothermal), and waste heat recovery applications. With a strong presence in both domestic and international markets, the company has emerged as a key player in India’s clean energy and industrial efficiency ecosystem. Backed by robust financials—zero debt, exceptional return ratios, and explosive profit growth—Triveni Turbine presents a compelling long-term investment case. This article provides a fact-based outlook and realistic share price targets for each year from 2026 to 2030.
Business: Designs and manufactures industrial steam turbines up to 100 MW for:
Biomass & waste-to-energy plants
Cement, steel, textile, and chemical industries
Waste Heat Recovery (WHR) systems
Geothermal and decentralized power projects
Global Reach: Exports to over 40 countries; ~30% of revenue from international markets
Ownership: Promoter holding at 55.84%; strong institutional participation
Listed: Yes – on BSE (532787) and NSE (TRITURBINE)
Clarifications:
Is Triveni Turbine debt-free? Yes – ₹0 Cr debt as per latest balance sheet.
What is its main business? It makes industrial steam turbines, not consumer products or large utility-scale turbines.
Is it a good stock to buy? Suitable for long-term, growth-oriented investors who believe in India’s industrial decarbonization and global green energy transition.
Future outlook: Bright—driven by global demand for energy efficiency, ESG compliance, and India’s push for decentralized renewable power.
Triveni Turbine: Key Financial Snapshot
Metric
Value
Market Capitalization
₹15,902.47 Cr
Current Share Price
₹500
52-Week High / Low
₹687 / ₹454
P/E (TTM)
42.13
P/B (TTM)
14.26
Book Value (TTM)
₹35.08
EPS (TTM)
₹11.88
ROE
41.73%
ROCE
55.41%
Dividend Yield
0.81%
Debt
₹0 Cr (debt-free)
Cash Reserves
₹204.05 Cr
Sales Growth (YoY)
30.22%
Profit Growth (YoY)
79.09%
Shareholding Pattern
Category
Holding (%)
Promoters
55.84%
Foreign Institutions (FII)
22.38%
Domestic Institutions (DII)
14.60%
Public (Retail)
7.18%
Others
0%
Note: Strong promoter + institutional ownership reflects confidence in execution and governance.
Based on industry tailwinds, world-class ROCE, zero debt, and a strong export order book, we project the following realistic price ranges:
Year
Target Price Range (₹)
2026
₹540 – ₹620
2027
₹590 – ₹690
2028
₹640 – ₹760
2029
₹690 – ₹830
2030
₹740 – ₹900
These targets assume:
EPS CAGR of 25–30% (supported by 79% recent profit growth, though likely to moderate)
P/E range of 35–40x (premium justified by ROCE >50%)
Sustained dividend payout (~25–30% of profits)
Year-wise Breakdown
Triveni Turbine Share Price Target 2026
Year
Target 1
Target 2
2026
₹540
₹620
Rationale: Record Q3 FY26 results (PAT ₹105 Cr, +107% YoY) and strong order inflows support near-term upside. High ROCE (55.4%) justifies premium valuation.
Triveni Turbine Share Price Target 2027
Year
Target 1
Target 2
2027
₹590
₹690
Rationale: Global focus on industrial decarbonization and energy efficiency boosts demand. Aftermarket services (high-margin) contribute ~25% of revenue.
Triveni Turbine Share Price Target 2028
Year
Target 1
Target 2
2028
₹640
₹760
Rationale: By 2028, capacity expansion and localization in key export markets (Europe, SE Asia) could drive margin expansion and market share gains.
Triveni Turbine Share Price Target 2029
Year
Target 1
Target 2
2029
₹690
₹830
Rationale: Long-term play on global ESG mandates and India’s manufacturing push. The company’s niche in <100 MW turbines faces limited competition.
Triveni Turbine Share Price Target 2030
Year
Target 1
Target 2
2030
₹740
₹900
Rationale: The upper end assumes consistent 30%+ ROE, order book visibility, and successful R&D in next-gen turbine tech. Even at ₹900, P/E would be ~38x—reasonable for such quality.
Strengths vs Risks
✅ Strengths
Zero debt and healthy cash flow
Exceptional ROCE (55.4%) and ROE (41.7%) – among India’s best
Global client base across 40+ countries
Beneficiary of green industrial policy (India & abroad)
⚠️ Risks
High P/B ratio (14.26x) – leaves little margin for error
Cyclical exposure to capex cycles in cement, steel, etc.
Low public float (7.18%) can cause volatility
Execution risk in scaling international operations
Investment Suitability
Factor
Assessment
Risk Profile
Moderate (mid-cap, high-quality)
Time Horizon
Long-term (5+ years)
Volatility
Moderate-to-High
Dividend/Income
Low but consistent (0.81% yield)
Ideal Investor
Growth-focused investor bullish on clean industrial tech and global exports
FAQs
Yes—for long-term portfolios. Its debt-free balance sheet, world-class returns, and green energy alignment make it a high-quality compounder.
It designs and manufactures industrial steam turbines for biomass, waste-to-energy, cement, steel, and other energy-intensive industries.
Very promising—global demand for energy-efficient turbines and decentralized power is rising. The company is well-positioned as a niche leader.
Yes—zero debt with ₹204 Cr in cash reserves.
Final Verdict
Triveni Turbine Ltd is a rare combination of engineering excellence, financial discipline, and sustainability alignment. While its valuation is premium, its ROCE of over 55% and global scalability justify the price. Our 2026–2030 price targets (₹540–₹900) reflect steady, high-quality growth—not speculative hype. Investors should consider accumulating on dips with a 5-year horizon.
📌 Disclaimer: Price targets are estimates based on current fundamentals and sector trends. They are not investment advice. Please consult a SEBI-registered advisor before investing.
