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Triveni Turbine Limited (TRITURBINE) Fair Value & Analysis

Industrials · IN · Market cap ₹211B

TT Triveni Turbine Limited TRITURBINE · NSE
Price₹597.90
Fair Value₹191.76
Upside-67.9%
Quality54/100
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Mixed Growth
Solidly profitable · 16.0% net margin
Low debt · generates free cash flow
0.63% dividend yield
Mixed vs. peers (8/14)
Wide moat 75/100
Evidence: High Range ₹99.36 – ₹400.73 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price −2.8% over the past month.

A solid business, but screening 68% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹400.73). The favourable scenario is already priced in.
  • The model range is unusually wide (₹99.36 to ₹400.73). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹825.05 ₹92.90 Fair Value ₹191.76 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹92.90 – ₹825.05 · fair‑value band ₹99.36 – ₹400.73 · the ₹597.90 price screens above the ₹191.76 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Triveni Turbine Limited (TRITURBINE) currently trades at ₹597.90, while our model-based Fair Value estimate is ₹191.76, implying the stock looks roughly 67.9% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Triveni Turbine Limited generated revenue of ₹21.8B at a net margin of 16.0%. Revenue grew 26.3% year over year. It earns a return on equity of 26.2%. The balance sheet holds a net cash position of ₹2.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹99.36 (bear case) to ₹400.73 (bull case); at ₹597.90, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at -68%, TRITURBINE screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹52.79 ₹100.55 ₹180.76 80
Residual Income ₹77.62 ₹101.98 ₹563.20 76
Rev-Margin DCF ₹102.10 ₹190.55 ₹374.54 74
All 26 models by family
DCF Models
FCF DCF ₹55.48 ₹84.10 ₹177.69 38
Owner Earnings ₹172.15 ₹391.64 ₹873.00 31
5Y Revenue Exit ₹92.52 ₹167.89 ₹326.84 39
5Y EBITDA Exit ₹127.66 ₹238.97 ₹458.05 41
5Y P/E Exit ₹154.81 ₹369.55 ₹668.17 38
10Y Revenue Exit ₹80.08 ₹199.12 ₹285.40 36
10Y EBITDA Exit ₹110.42 ₹276.58 ₹579.60 37
10Y P/E Exit ₹130.69 ₹336.43 ₹688.82 35
Earnings-Based
Graham-Dodd ₹74.80 ₹521.67 ₹732.08 54
Lynch FV ₹269.51 ₹385.02 ₹500.52 50
PEG = 1.0 ₹269.51 ₹385.02 ₹500.52 46
EPV ₹100.75 ₹116.99 ₹131.42 59
Dividend Discount
Gordon GGM ₹40.88 ₹89.25 ₹150.16 70
DDM Multi-Stage ₹40.88 ₹73.11 ₹93.01 61
Multiples
P/E Multiple ₹173.26 ₹231.01 ₹288.76 63
P/S Multiple ₹102.92 ₹137.22 ₹171.53 58
P/B Multiple ₹140.26 ₹187.01 ₹233.76 55
EV/EBIT ₹175.67 ₹231.31 ₹286.95 53
EV/EBITDA ₹146.85 ₹192.88 ₹238.92 54
EV/Revenue ₹95.19 ₹132.24 ₹169.29 43
Asset-Based
NCAV (Graham) ₹22.74 ₹30.48 ₹45.49 50
Growth DCF
Growth DCF ₹52.79 ₹100.55 ₹180.76 80
Rev-Margin DCF ₹102.10 ₹190.55 ₹374.54 74
Economic Profit
Residual Income ₹77.62 ₹101.98 ₹563.20 76
ROIC Compounder ₹137.54 ₹224.87 ₹297.15 72
Growth Earnings
Growth-Adj P/E ₹352.52 ₹503.60 ₹654.68 68

Widest divergence: Growth Earnings (₹503.60) versus Asset-Based (₹30.48). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹21.8B
Revenue growth (YoY) +26.3%
Net margin 16.0%
Return on equity 26.2%
Free cash flow ₹832M FY2026
P/E ratio 54.5
More key figures
Operating margin 17.5%
EPS (TTM) ₹10.97
Dividend yield 0.6%
EPS growth (YoY) +7.4%
Net cash ₹2.4B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 54 · Market factors (momentum, volatility) 58

Profitability 71
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Triveni Turbine Limited, together with its subsidiaries, manufactures and supplies power generating equipment and solutions in India and internationally.

Full company description

Triveni Turbine Limited, together with its subsidiaries, manufactures and supplies power generating equipment and solutions in India and internationally. The company offers backpressure and condensing steam turbines for a range of combined heat and power and power generation applications; and American Petroleum Institute single and multi stage steam turbines for various drive, chemicals, petrochemicals, petroleum refineries, and fertilizer applications. It also provides sustainable modularly arranged pressure reducing turbines for pressure reducer desuperheater application; and carbon dioxide heat pumps and chillers solutions for dairy and food, pulp and paper, automobile, pharmaceuticals, distilleries and breweries, district and commercial heating, textile, marine, and boiler feed water heating and paint chilling applications. In addition, the company offers spares, upgrades, and automation services, as well as service solutions, including preventive maintenance, LTSA/AMC, troubleshooting, restoration, turnkey solutions, OEM services, high-speed balancing, remote monitoring, balance of plant solutions, and training programs; and multi-brand services. Further, it provides manufacturing, servicing, and trading in rotating industrial machinery; and trading and services of steam turbines and parts. The company also exports its products. Triveni Turbine Limited was formerly known as Triveni Retail Ventures Limited and changed its name to Triveni Turbine Limited in March 2010. The company was founded in 1968 and is headquartered in Bengaluru, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Triveni Turbine Limited reported revenue of ₹21.8B in FY2026 versus ₹8.4B in FY2022, a compound +26.9%/yr. Reported net income was ₹3.5B in FY2026, compounding +6.7%/yr from FY2022.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹21.8B
Latest YoY
+8.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+25.7%
Avg. growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+27.5%
Revenue +26.9%/yr
FY22 ₹8.4B
FY23 ₹12.4B
FY24 ₹16.4B
FY25 ₹20.1B
FY26 ₹21.8B
Net income +6.7%/yr
FY22 ₹2.7B
FY23 ₹1.9B
FY24 ₹2.7B
FY25 ₹3.6B
FY26 ₹3.5B
Character of growth · EPS growth decomposed (2015-2026) +13.4 % p.a.
Revenue per share +12.6 pp

of which total revenue +12.1 pp · buybacks/dilution +0.5 pp

EBIT margin +0.3 pp
Tax rate +1.1 pp
Residual (interest, one-offs) −0.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

TRITURBINE screens 68% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Triveni Turbine Limited Fair Value". https://www.fairvalue-calculator.com/stock/TRITURBINE

Peer Group

Specialty Industrial Machinery · 805 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 54 · Above median
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 26% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 26% · Top 25%
Dividend yield (TTM) 0.6% · Below median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 54.5× · Pricier than 75% of peers
P/B 14.62× · Pricier than 75% of peers
P/S (TTM) 9.69× · Pricier than 75% of peers
P/FCF 2.7× · Cheaper than median
EV/EBITDA 46.3× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 22
PAST 100 · sector 28
HEALTH 100 · sector 95
DIVIDEND 13 · sector 27

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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NARI Technology Co 600406 ¥24.06 ¥18.71 -22%
ABB India Limited ABB ₹7,645 ₹1,322 -83%
Cummins India Limited CUMMINSIND ₹5,315 ₹1,355 -75%
Bharat Heavy Electricals Limited BHEL ₹421.70 ₹96.51 -77%

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Frequently asked questions

Is Triveni Turbine Limited (TRITURBINE) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹191.76 versus a price of ₹597.90, about −68% (overvalued).
What is the fair value of TRITURBINE?
Our model-based fair value for Triveni Turbine Limited is ₹191.76 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹597.90.
What is the quality score of TRITURBINE?
Triveni Turbine Limited has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Triveni Turbine Limited (TRITURBINE)?
Triveni Turbine Limited reported trailing-twelve-month revenue of about ₹21.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TRITURBINE?
The net profit margin of Triveni Turbine Limited is about 16.0%, meaning it keeps roughly 16.0% of revenue as net income. Based on the latest reported figures.
Does Triveni Turbine Limited pay a dividend?
Triveni Turbine Limited currently shows a dividend yield of about 0.63% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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