Buy Triveni Turbine, target price Rs 435: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Triveni Turbine with a target price of Rs 435. The current market price of Triveni Turbine is Rs 399.85.
Triveni Turbine., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 12724.61 Crore) operating in Engineering sector.

Triveni Turbine key Products/Revenue Segments include Turbines, Spares And Others, Sale of services, Export Incentives, Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 382.24 Crore, up 13.19 % from last quarter Total Income of Rs 337.70 Crore and up 56.45 % from last year same quarter Total Income of Rs 244.32 Crore. Company has reported net profit after tax of Rs 55.62 Crore in latest quarter.

The company’s top management includes Mr.Dhruv M Sawhney, Dr.Anil Kakodkar, Mr.Shailendar Bhandari, Mr.Vijay Kumar Thadani, Mr.Vipin Sondh, Mr.Dhruv M Sawhney, Mr.Nikhil Sawhney, Mr.Arun Prabhakar Mote, Mr.Tarun Sawhney, Mr.Pulak Chandan Prasad, Ms.Homai A Daruwalla, Dr.Anil Kakodkar, Mr.Shailendar Bhandari, Mr.Vijay Kumar Thadani, Ms.Homai A Daruwalla, Mr.Pulak Chandan Prasad, Mr.Nikhil Sawhney, Mr.Arun Prabhakar Mote, Mr.Tarun Sawhney, Mr.Pulak Chandan Prasad, Ms.Homai A Daruwalla, Dr.Anil Kakodkar, Mr.Shailendar Bhandari, Mr.Vijay Kumar Thadani, Mr.Vipin Sondh, Mr.Dhruv M Sawhney, Mr.Nikhil Sawhney, Mr.Arun Prabhakar Mote, Mr.Tarun Sawhney, Mr.Vipin Sondh. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 32 Crore shares outstanding.

Investment Rationale
Given strong revenue visibility, margin tailwinds in terms of increasing share of exports and aftermarket, and broadening of its market reach, the brokerage retains its Buy recommendation on Triveni Turbine Limited (TTL) with a revised PT of Rs. 435.

Promoter/FII Holdings
Promoters held 55.84 per cent stake in the company as of 31-Mar-2023, while FIIs owned 24.38 per cent, DIIs 15.13 per cent.