Triveni Power Transmission H1 Revenue Rises 17.8 Percent to INR 189 Crore

Triveni Power Transmission Ltd. (TPTL) reported revenue of INR 189 crore for the first half of FY2026-27, up 17.8 percent year-on-year, in its maiden financial results announcement since listing. The company also reported a closing order book of INR 626 crore as of September 30, 2026, supported by a 94.7 percent increase in half-year order bookings.

For the quarter ended September 30, 2026, revenue rose 5.7 percent year-on-year to INR 116 crore and increased 59.9 percent sequentially. Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at INR 42 crore, with a margin of 36.1 percent. Profit after tax (PAT) was INR 26 crore.

For H1 FY2026-27, EBITDA reached INR 67 crore, with a margin of 35.7 percent, while PAT stood at INR 41 crore. The company generated free cash flow of INR 13 crore after capital expenditure of INR 31 crore during the period.

Order bookings increased 47.7 percent year-on-year to INR 126 crore in the second quarter and 94.7 percent to INR 330 crore in the first half. The closing order book of INR 626 crore at the end of September was 57.2 percent higher than a year earlier.

The company's aftermarket business contributed 26.7 percent of revenue during the period, supported by demand for lifecycle services, replacements and equipment upgrades. The business provides services to customers seeking to maintain and improve the performance of installed power transmission equipment.

The defence business recorded revenue growth of 3.3 times year-on-year in the second quarter and 3.7 times in the first half. The company said it was expanding execution across marine gearboxes, propulsion shafting and related systems.

A new manufacturing facility is supporting specialised defence and marine production, including propulsion shafting, casing machining and ship-system equipment. TPTL is also developing capabilities in marine gearboxes, stabilisers, steering gear and other marine systems.

Product development initiatives covering sleeve couplings, steering gear, stabilisers and plummer blocks are intended to increase indigenous technology content and improve competitiveness. The company said programme timelines would continue to depend on customer approvals and procurement cycles.

Commenting on the results, Tarun Sawhney, vice-chairman and managing director of Triveni Power Transmission, said the company had maintained a resilient performance while generating positive free cash flow and investing in manufacturing capabilities, research and development, and digital initiatives.

He said the company's medium-term outlook was supported by opportunities in specialised high-speed industrial gears, aftermarket services and the localisation of defence and marine systems.

The company's immediate priorities include converting business opportunities into orders, strengthening relationships with global original equipment manufacturers, expanding its international aftermarket presence and executing its defence order book. It also aims to maintain returns on capital and consistent cash generation.