Triveni Turbine’s VC & MD Nikhil Sawhney on November 3 said the second half of the year will be better than the first half for the company. He was talking to CNBC-TV18 about the company earnings for the second quarter of the 2022-23 fiscal.

The company's earnings for the September quarter saw a revenue growth of over 40 percent while the margin remained flat. Order inflows too were higher at Rs 360 crore, a growth of 18 percent compared to the corresponding quarter last year. The management expects a 35 percent compounded annual growth between till 2023-24.

“Triveni Turbine has had a record turnover in this quarter, record EBITDA, and a record order book in this quarter. We have advised our investors to look forward to a 35 percent CAGR growth for this year and next year and that’s the performance that we are targeting,” said Sawhney.

Also Read: Triveni Turbine board approves Rs 190-crore share

buyback

While talking about revenues, he said that FY24 revenue will be in excess of Rs 1,500 crore, and in that exports and domestic will be 50:50.

The company announced a buyback in the current quarter. “We think that this is a good way to return a bulk of money to shareholders. Promoters do plan on participating as well. And we look at this as a manner and means by which all shareholders should participate and gets the returns back,” said Sawhney.

Explained | Why share buybacks via open markets are often considered bad

For the entire management interview, watch the accompanying video

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