Triveni Turbine shares: Multibagger stock to lose fizz in FY26? Price targets, key growth risks and more 

Shares of Triveni Turbine have surged 20% since the firm announced its earnings on May 10. The multibagger stock, which closed at Rs 515.80 on May 10 rose to a high of Rs 619 in the current session, rising 20% in four sessions. The rally in the Triveni Turbine stock is powered by the company's highest ever annual revenue at Rs 2,006 crore, an increase of 21% y-o-y. The company also clocked its highest ever annual EBITDA at Rs 518 crore for FY25, rising 36% y-o-y, with a margin of 25.8%, which increased 280 bps y-o-y. 

Profit after tax (PAT) in FY25 was the highest ever at Rs 359 crore, rising 33% y-o-y against Rs 269.5 crore profit in the previous fiscal. 

Motilal Oswal expects a strong 19% CAGR in profit after tax over FY25-27E

"We expect Triveni Turbine's revenue/EBITDA/PAT to clock a CAGR of 19%/18%/19% over FY25-27. Backed by a comfortable negative working capital cycle, strong margins, and low capex requirements, we expect its OCF and free cash flow to report a CAGR of 45% and 49% over the same period, respectively," said the brokerage. 

However, the brokerage has revised its target price to Rs 700 from the earlier Rs 780. 

"We revise the TP to Rs 700 (from Rs 780) based on 42x FY27E EPS, which factors in lower base orders in domestic geography. Key risks to our recommendation would come from slower than-expected order inflow growth, particularly in domestic markets; lower-than expected margins; and a slowdown in global geographies," said Motilal Oswal. 

"Although many orders were deferred in FY25 due to elections and macro uncertainties, management remains confident that these enquiries will translate into order finalisations over the coming quarters, supporting a domestic recovery in FY26. However, we expect domestic ordering activity to remain weak in FY26 for a few more quarters and to pick up from FY27," added the brokerage 

Brokerage Prabhudas Lilladher has maintained a buy call with a price target of Rs 772. 

"We believe Triveni Turbine’s prospects continue to remain strong due to 1) healthy enquiry pipeline across markets, 2) growing share of higher margin exports & aftermarket sales, 3) strong traction in both industrial & API drive turbines, and 4) robust order book with strong inflows across businesses. The stock is trading at a P/E of 37.7x/29.0x on FY26/27E EPS. We roll forward to Mar’27E and maintain Buy rating with a revised target price of Rs 772 (Rs 744 earlier), valuing the stock at a P/E of 40 times Mar’27E (40x Sep’26E earlier)," said Prabhudas Lilladher. 

Triveni Turbine stock has delivered 252% percent in the last three years and risen 847% in five years.

In the current session, Triveni Turbine stock rose 6.41% to Rs 612.45 on BSE. The power sector stock has lost 18% this year and fallen 6.43% in six months.  

Total 5.88 lakh shares of the firm changed hands amounting to a turnover of Rs 35.76 crore on Thursday. Market cap of the firm climbed to Rs 19.504 crore. The stock slipped to a 52-week low of Rs 455.15 on April 7, 2025 and a 52-week high of Rs 885 on November 26, 2024.  

Triveni Turbine Ltd specializes in providing steam turbine solutions for industrial captive and renewable power applications.