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Triveni Turbines Ltd: Order bookings in FY21 fall by 19 per cent

Triveni

Triveni Turbines Ltd (TTL), the market leader in the up to 30-mw  steam turbine market, reported a total order booking of Rs.6.43 billion in FY21, which was 19 per cent lower, year-on-year.

Total consolidated outstanding order book stood at Rs.6.39 billion as on March 31, 2021 which is lower by 9 per cent as compared to previous year’s closing order book.

 

Exports vs Domestic

The domestic order booking during the year was Rs.4.32 billion, declining by 5 per cent as compared to last year. The domestic outstanding order book stood at Rs.4.49 billion, up 14 per cent  as on March 31, 2021.

However, owing to restrictions due to continued impact of Covid-19 across many countries, decline in export order booking during the year was more pronounced than the domestic market. The export order booking during the year was Rs.2.11 billion, declining by 37 per cent as compared to last year. The export outstanding order book stood at Rs.1.9 billion, down 38 per cent as on March 31, 2021.

Despite the slowdown across the globe, TTL was able to secure orders both from India and from major international markets Central America, South America, North America, Turkey, South East Asia, Europe, Middle East and North Africa, together with the domestic market, during the year.

 

Product vs Aftermarket

During FY21, the aftermarket registered an order booking of Rs.2.02 billion, which was lower by 7 per cent when compared with the corresponding period of previous year. The aftermarket turnover was Rs.1.92 billion, a growth of 3 per cent over previous year driven by refurbishment.

On the Product side, the company registered an order booking of ₹ 4.41 billion, which was lower by 24 per cent when compared with the corresponding period of previous year.

 

Enquiry generation

Enquiry generation during FY21 and Q4 FY21 remains strong both in domestic and international market, which is a positive for order booking in the coming quarters. During FY 21, the enquiry generation in the domestic market grew by 35 per cent as compared to FY 20 which the company believes is a positive indication for the order finalization in the coming quarters. These have been driven by process co-generation and waste-to-heat recovery segments that contribute approximately 60 per cent and 25 per cent respectively to the overall domestic enquiries.

In the international segment, enquiry generation was dominated by thermal renewable based IPP power plant and process co-generation contributing to 43 per cent and 30 per cent of the total export enquiry in FY21 respectively.

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