### **Overview** Triveni Turbine Limited (TTL) has successfully transformed over the past decade from a sugar-industry-centric turbine manufacturer into a globally recognized leader in industrial heat and power solutions. With over 50 years of OEM experience and more than 6,000 commissioned turbines across 80+ countries, TTL is now one of the **top two global manufacturers** in the sub-100 MW industrial steam turbine segment according to the McCoy Report (2023). The company operates at the intersection of thermal renewables, oil & gas, and the global energy transition, offering both product and comprehensive aftermarket services with a strong focus on innovation, sustainability, and customer lifecycle value. --- ### **Core Business Segments** TTL operates across three key verticals: 1. **Industrial Steam Turbines (Product Segment)** - Designs and manufactures **engineered-to-order steam turbine generator (STG) sets up to 100 MW**, including backpressure, condensing, extraction, and combined configurations. - Serves over **20 industries**, including sugar, cement, steel, petrochemicals, refineries, pharma, pulp & paper, waste-to-energy (WtE), and geothermal. - Offers both **impulse and reaction turbine technologies**, with a growing footprint in the 30.1–100 MW range following the dissolution of its joint venture with GE. 2. **Aftermarket & Industrial Services and Parts (ISP)** - Provides **full-life support** for turbines and rotating equipment across all OEM brands via **Triveni REFURB**, a dedicated multi-brand refurbishment division. - Services include maintenance, overhaul, upgrades, reverse engineering, efficiency optimization, digital monitoring (via *Triveni Touch*), and life extension—from micro-turbines to utility-scale units up to 950 MW. - Aftermarket now contributes **~31–35% of total revenue**, with higher profitability and stable margins, signaling a strategic shift toward a recurring revenue model. 3. **Energy Transition & Next-Gen Technologies** - Pioneering the development of **CO₂-based power and thermal systems**, including: - **Subcritical, supercritical, and transcritical CO₂ turbines** for energy storage and heat recovery. - **CO₂-based long-duration energy storage (LDES)** systems. - **High-temperature heat pumps** (up to 122°C, COP of 6), chillers, and steam compressors using natural refrigerants. - Positioned as a non-battery, sustainable alternative to lithium-ion storage. --- ### **Strategic Growth Drivers (as of Aug 2025)** #### 1. **Breakthrough Entry into the API Market** - TTL has secured vendor registration with major **oil & gas** players and is now qualified by top refineries, petrochemical complexes, and engineering firms globally. - Successfully delivers **API 611 and API 612-compliant turbines**, a high-barrier, high-margin segment historically dominated by multinationals. - Recent wins in the **MENA region, USA, and Europe** highlight technical acceptance and growing order flow in this strategically targeted space. #### 2. **Global Expansion & Localization** - Operates in **80+ countries** with subsidiaries in: - UK, UAE, South Africa, USA (Houston, Texas), and Dubai. - Established **local assembly and repair facilities in South Africa (Johannesburg) and the USA (Houston)**, enabling 24/7 service, reduced logistics cost, and enhanced trust. - The **U.S. market is a key strategic focus** due to its size, demand for energy efficiency, and potential in **small modular reactors (SMRs)** and aging infrastructure needing upgrades. #### 3. **Leadership in Thermal Renewables** - A **market leader in biomass, waste-to-energy (WtE), and waste-heat recovery (WHR)**, sectors that now account for **73% of the up-to-100 MW steam turbine market** (vs. 42% in 2014). - 75%+ of recent order bookings are from **renewable and low-carbon solutions**. - Key applications include **municipal solid waste incineration (MSW), sugarcane bagasse, palm oil residues, and industrial waste heat**. #### 4. **Landmark Energy Storage Projects** - Secured a **₹2.9 billion (≈$35M) turnkey contract with NTPC** to build a **160 MWh CO₂-based LDES system** at Kudgi Thermal Power Plant—**Asia’s first** of its kind. - This project is **end-to-end**, covering design, fabrication, integration, and commissioning, positioning TTL as a systems integrator. - Successfully commissioned a **20 MW subcritical CO₂ turbine** for a similar project in Italy, validating its technology. - CO₂-based ESS does **not rely on critical minerals** (e.g. lithium, cobalt), making it a **sustainable, long-life (20+ years) solution** well-suited for grid balancing and renewable integration. #### 5. **India’s First CO₂ Heat Pump Launch** - TTL launched **India’s first high-temperature CO₂ heat pump**, capable of delivering **122°C heat with a COP of 6**—ideal for industries like **distilleries, food processing, textiles, and pharmaceuticals**. - Co-developed with **IISc, Bangalore**, and aligned with **Kigali Amendment** goals (phase-down of HFCs). - A demonstration unit is operational at **Peenya, Bengaluru**, with global market potential. #### 6. **R&D and Innovation Leadership** - R&D investments at **1.4% of turnover**, with over **160 R&D and engineering professionals**. - Filing of **400+ global Intellectual Property Rights (IPRs)**, covering CO₂ systems, turbomachinery, sealing, and blading designs. - Strategic partnerships with: - **IISc, IITs, University of Genoa, ITSM Stuttgart, and Politecnico di Milano**. - **Energy Dome (Italy)** for LDES projects. - In-house testing center under development for **turbomachinery, heat pumps, and CO₂ systems**. - Validated **supercritical CO₂ turbine design** with a U.S.-based independent R&D organization. #### 7. **Manufacturing & Supply Chain Strength** - Two **state-of-the-art manufacturing facilities in Bengaluru (Peenya and Sompura)**, supported by local teams and a robust global supplier network. - In-house capabilities for **blades, rotors, casings, and mechanical steam run testing**. - Flexible, **asset-light model**—outsources non-core sub-assemblies while focusing on high-value, precision engineering. - Annual production capacity expanded to **250–300 turbines**, supporting growing demand. --- ### **Financial and Operational Performance (FY25 Highlights)** - **Domestic Orders**: ↑29% YoY to ₹11.04 billion. - **Export Orders**: ↑23% YoY to ₹12.59 billion, with strong demand from **Middle East, Europe, North America, Southeast Asia, and Africa**. - **Order Backlog**: Strong visibility into **FY26**, driven by API, IPG, and renewable segments. - **Aftermarket Growth**: Consistently contributing **~31% of revenue**, growing on new, repeat, and referral orders. - **Global Enquiry Pipeline**: Up **250% YoY** in the international oil & gas segment, with a diversified geographic spread.