In early trading today, shares of multibagger Triveni Turbine surged 7% to a record high following the power equipment company's 37% increase in net earnings for the quarter that concluded in March 2024.Profit increased to Rs 75.6 crore in Q4 from Rs 56 crore in the same period the previous fiscal year. Compared to Rs 370 crore in the fourth quarter of the previous fiscal year, revenue increased 24% to Rs 458 crore in Q4, its highest level in a quarter. Subject to shareholder approval, the company's board recommended a final dividend of Rs 1.3 per equity share (worth Rs 1) for the fiscal year 2023–2024. This is on top of the interim and special dividend that was announced and paid for the financial year 2023–24 at a rate of 230% of Rs 2.30 per share.
In early trading, Triveni Turbine's shares increased 6.84% to Rs 646.45 from the previous session's finish of Rs 605.05. The stock of the electricity industry has increased 44.09% this year and 57.54% over the past year.
On Thursday, a total of 0.34 lakh shares of the company were exchanged, resulting in a turnover of Rs 2.14 million. The company's market capitalization was Rs 20,121 crore. On October 26, 2023, the stock reached a 52-week low of Rs 311.85, and on May 16, 2024, it reached a 52-week high of Rs 612.80. With a beta of 0.7, Triveni Turbine shares exhibit extremely little volatility over the course of a year.
Technically speaking, the stock's relative strength index (RSI) is 67.4, indicating that it is neither trading in the overbought or oversold regions. The 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages are all higher than the shares of Triveni Turbine, but the 5-day and 10-day moving averages are lower. The company reported its highest-ever annual revenue for FY24, coming in at Rs 1654 crore, up 33% year over year from Rs 1247.6 crore in FY23.
The firm had its highest-ever EBITDA for the year, rising 38% year over year from Rs 276.4 crore to Rs 381 crore. Compared to Rs 55.6 crore in FY23, profit after tax increased by 37% to Rs 76.2 crore in FY24.
"Y24 was another year of superlative operational and financial performance for Triveni Turbines," stated Dhruv M. Sawhney, Chairman and Managing Director of Triveni Turbine Limited. The business reached new records in important areas including sales, profitability, and order booking for the fourth year in a row. Revenues in FY24 reached a record high of Rs 16.54 billion, up 33% from the year before. Profit Before Tax (PBT) increased at a quicker rate of 40% year over year and reached Rs 358 crore with margins of 21.6%, up by 110bps annually. For the year, earnings per share increased by an astounding 42% to Rs 8.47.
"Y24 was another year of superlative operational and financial performance for Triveni Turbines," stated Dhruv M. Sawhney, Chairman and Managing Director of Triveni Turbine Limited. The business reached new records in important areas including sales, profitability, and order booking for the fourth year in a row. Revenues in FY24 reached a record high of Rs 16.54 billion, up 33% from the year before. Profit Before Tax (PBT) increased at a quicker rate of 40% year over year and reached Rs 358 crore with margins of 21.6%, up by 110bps annually. For the year, earnings per share increased by an astounding 42% to Rs 8.47.
