Latest news with #Triveni
Time of India
3 days ago
- Sport
- Time of India
Young Indians impress as Delhi GM Open 2025 chess tournament gets underway
Delhi GM Open chess tournament NEW DELHI: The Delhi International Open Grandmasters Chess Tournament 2025 commenced today at Tivoli Gardens, featuring remarkable first-round results. In a notable upset, Vairaj Sogerwal (1869) secured a victory against Armenia's GM Karen H Grigoryan (2520). Additionally, young Meetansh Dixit (1874) achieved an impressive draw against Georgian GM Levan Pantsulaia (2551), highlighting the emerging talent at the event. Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW! GM Narayanan S L (2600), the tournament's top seed, secured a victory against Singapore's Sai Siddharth (1876). Indian GMs Diptayan Ghosh and Abhijeet Gupta, alongside Armenia's GM Manuel Petrosyan, also recorded victories on the opening day. Delhi Deputy Chief Minister Shri Parvesh Verma presided over the inauguration, accompanied by Shri Dhruv Sawhney, Chairman of Triveni and former President of the All India Chess Federation (AICF), along with other officials and chess personalities. Shri Verma acknowledged India's chess development and assured continued support for international chess competitions. The tournament's 21st edition has established itself as Asia's premier classical-format open chess competition, attracting over 2,500 participants from more than 20 countries, including 24 Grandmasters. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 속는셈 치고 마셨는데 진짜 2주만에 "관절통증" 사라졌어! 관절염 발생률 99% 감소 "이것" hoguanwon Undo The event offers a substantial prize fund of Rs 1.21 crore and serves as a significant platform for developing chess talent. Additional Round 1 victories were secured by GM Luka Paichadze, GM Vitaly Sivuk, GM Mihail Nikitenko, GM Karthik Venkataraman, GM Aditya S Samant, GM Mamikon Gharibyan, and IM Aronyak Ghosh (2510). The women's section features WFM Tanishka Kotia, WCM Sanskruti Wankhade, and WCM Nanditha V, who encountered challenging starts but are anticipated to improve as the tournament continues. Conducted under the All India Chess Federation's supervision, the Delhi GM Open has become Asia's largest classical-format chess competition by participation numbers.
Hans India
5 days ago
- General
- Hans India
All-women team reaches home after 1,800-nautical mile int'l voyage
Visakhapatnam: The Tri-Services All-Women Sailing Expedition team returned home after completing a ground-breaking 1,800-nautical-mile international voyage to Seychelles. The historic expedition, commenced on April 7, marks the first-ever international open-sea sailing mission by an all-women team from the Indian Armed Forces. The expedition was flagged-in by Commandant, College of Military Engineering Lieutenant General AK Ramesh in Mumbai. He hailed the mission as a milestone in the journey of gender-inclusive operational excellence. Applauding the courage and determination of the team, he emphasised the growing role of women as key contributors to the Armed Forces' operational strength. Aboard the indigenously-built Indian Armed Services Vessel 'Triveni', a 56-foot sailing yacht, the team of 11 women officers from the Army, Navy and Air Force navigated nearly two months of challenging open-sea conditions. Enduring tropical squalls, rough sea states, and extended fatigue, the crew demonstrated exceptional endurance and unflinching resolve. Indian Army - Lt Col Anuja, Maj Karamjeet, Maj Tanyah, Capt Omita, Capt Dauli and Capt Prajakta from Indian Army, Lt Cdr Priyanka from Indian Navy, Sqn Ldr Vibha, Sqn Ldr Shraddha, Sqn Ldr Aruvi and Sqn Ldr Vaishali fromIndian Air Force formed part of the crew. During its stopover in Seychelles, the crew participated in a series of high-level defence and diplomatic engagements, including formal interactions with the Seychellois Minister of Foreign Affairs, the Chief of Combined Defence Staff and the High Commissioner of India to Seychelles. These events served to strengthen maritime diplomacy and further India's strategic partnership with the Indian Ocean Island nation. The initiative represents more than a naval feat as it is a celebration of 'Nari Shakti' in the Indian Armed Forces. It also stands as a shining example of Tri-services synergy. As India continues to expand its maritime footprint and capabilities, the successful completion of this voyage serves as a symbol of the Armed Forces' commitment towards excellence, equality, and strategic vision-led proudly by its women warriors on the high seas.
The Print
6 days ago
- General
- The Print
Tri-services all-woman circumnavigation sailing expedition team returns home
'Aboard the indigenously-built Indian Armed Services Vessel 'Triveni', a 56-foot sailing yacht, the team of 11 women officers from the Army, Navy and Air Force navigated nearly two months of challenging open-sea conditions. Enduring tropical squalls, rough sea states, and extended fatigue, the crew demonstrated exceptional endurance and unflinching resolve,' the defence minister said in a statement. The historic expedition, launched on April 7 from Mumbai, marked the first-ever international open-sea sailing mission by an all-woman team from the Indian armed forces. New Delhi, Jun 4 (PTI) A tri-services circumnavigation sailing expedition team comprising 12 women officers returned home on Wednesday after completing a ground-breaking international voyage to Seychelles during which they faced tropical squalls, rough seas and extended fatigue. The tri-services sailing expedition team returned home on June 4 after 'completing a ground-breaking 1,800-nautical-mile international voyage to Seychelles,' it said. The expedition was ceremonially flagged-in by Commandant, College of Military Engineering Lieutenant General AK Ramesh in Mumbai. He hailed the mission as a milestone in the journey of gender-inclusive operational excellence. Applauding the courage and determination of the team, he emphasised the growing role of women as key contributors to the armed forces' operational strength. The Mumbai-Seychelles-Mumbai expedition not only symbolises the empowerment of women in the armed forces but also pays tribute to India's legendary warrior queens such as Rani Velu Nachiyar, Rani Durgavati and Rani Lakshmi Bai, whose deeds continue to inspire generations, the ministry had earlier said. The crew included Lt Col Anuja, Maj Karamjeet, Maj Tanyah, Capt Omita, Capt Dauli and Capt Prajakta from the Indian Army; Lt Cdr Priyanka from the Indian Navy; and Sqn Ldr Vibha, Sqn Ldr Shraddha, Sqn Ldr Aruvi and Sqn Ldr Vaishali from the Indian Air Force. 'As India continues to expand its maritime footprint and capabilities, the successful completion of this voyage serves as a symbol of the armed forces' commitment to excellence, equality, and strategic vision — led proudly by its women warriors on the high seas,' the statement said. PTI KND HIG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
31-05-2025
- Entertainment
- Time of India
Once a bicycle bookseller, publisher Ganesh now basks in Booker glory
Bengaluru: Little did A Ganesh, a small-time bookseller pedalling through Mysuru with bundles of Kannada books in the early 1990s imagine that decades later, he would become the publisher who brought Booker recognition to Kannada literature. Tired of too many ads? go ad free now Forced by circumstances to leave home, Ganesh began his career by learning proofreading. "I was drawn to stories. I read K Shivarama Karanth, Poornachandra Tejaswi, Anupama Niranjana, even Phantom comics and Balamitra. I was crazy about stories," he recalled. Over the years, Ganesh dabbled in nearly every corner of the publishing world — as a proofreader at the desk, a reader and customer passionate about Kannada writing, a cycle-based bookseller connecting literature to households, and eventually, as a publisher nurturing voices like Banu Mushtaq through his own imprint, Abhiruchi Prakashana. By 1993, he was cycling around Mysuru, calling out "pustaka, pustaka" (books, books), selling Kannada novels like those of Anupama Niranjana, Triveni, and AN Murthy. "Just like people sold saris or newspapers on cycles, I sold books," he said. Known in the lanes of the city as the man who brought literature to doorsteps, Ganesh would later be christened 'Abhiruchi' Ganesh — a name coined when someone asked him for a bill and publisher DVK Murthy (whose books he sold on the cycle) suggested, "Abhiruchi." Back then, Kannada Book Authority was encouraging Kannada book stores. GT Narayan Rao, a science writer who saw Ganesh pedalling daily, helped him secure books worth Rs 25,000 under the Kannada Pustaka Pradhikara scheme. "That support allowed me to open a store," he said. In 1995, Abhiruchi Prakashana was officially born. He published works of Devanooru Mahadeva and Baraguru Ramachandrappa among others, including Fyodor Dostoevsky's Crime and Punishment. Tired of too many ads? go ad free now Ganesh's long association with Banu Mushtaq began in 2002, during a protest in Chikkamagaluru over Baba Budangiri. "She was detained, and activist K Ramdas and I went to speak to police. Once she was released, she gave me a script — a set of stories," he recalled. The result was Safira, Banu Mushtaq's first published short story collection, which sold out its first 1,000 copies and was reprinted. To him, her bold, woman-centric writing — dealing with abandonment, clerical injustice, and social marginalisation — stood out. "There are very few Muslim women writing in Kannada — maybe three or four. But her voice was powerful," Ganesh said. He went on to first publish Badavara Magalu Hennalla (2002), which sold 2,000 copies, and in 2013, brought out Haseena Mattu Itara Kathegalu, a five-collection compilation. In 2023, it was expanded with 'Hennu Haddina Swayamvara' to include 47 stories across six compilations. The reprint of 1,000 hardbound copies on April 30 sold out within days after the Booker shortlisting. On May 21, with the prize announcement, demand surged. "We've placed a reprint order for 2,000 more," he said. Ganesh was among those waited for the award announcement at 2.30am. "Banu sent me the link to the event. We got on a call about half-an-hour later — only for 59 seconds — her worried about missing medicines, but filled with joy. She said, 'Kannada and India won today.' I felt like a small-town boy who is overwhelmed when told about having won a big prize," he said.
Indian Express
29-05-2025
- Business
- Indian Express
High margins, global orders, clean energy bets. Is Triveni the midcap Tata Power?
In 2020, Triveni Turbine was a steady industrial player known for its steam turbines, mostly serving sugar mills and process industries. Fast-forward to FY25, and the picture has changed dramatically. The company recently reported its highest-ever revenue of Rs 2,005 crore, along with Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of Rs 517 crore, and Profit After Tax (PAT) of Rs 358 crore. Its order book stands at a record Rs 2,362 crore, exports now contribute nearly half its revenue, and it's even building a CO₂-based energy storage system for NTPC, a first-of-its-kind in India. What started as a steam turbine manufacturer is now quietly becoming a key enabler of clean energy and decentralised power, both in India and abroad. The stock has rallied accordingly, up nearly 3.5x in the last three years. But with valuation multiples running hot and new segments still scaling, one needs to ask: Is this just the beginning of a longer upcycle, or is most of the good news already priced in? Let's break it down. What does Triveni Turbine do? Triveni's business is at the intersection of energy, engineering, and the clean-tech shift. The company builds and services steam turbines of up to 100 MW capacity, often used in power generation for industries like sugar, chemicals, cement, oil & gas, and waste-to-energy. These turbines aren't powering city grids; they're running industrial plants that need their own, decentralised energy sources. A business built on three strong pillars Triveni's revenue model revolves around three main engines: 1. Industrial turbine manufacturing (core product business) This is Triveni's bread and butter: engineered-to-order steam turbines sold to industrial clients and independent power producers across the world. In FY25, the product segment clocked Rs 1,363 crore in revenue, up 22% YoY. New order booking reached Rs 1,741 crore, marking a 38% YoY jump, the highest ever in the company's history. This growth was driven by sectors like biomass, process co-gen, sugar distilleries, chemical factories, and waste-to-energy plants. Triveni has also gained ground in the API (American Petroleum Institute) turbine segment, supplying to global oil refiners and petrochemical majors. These turbines meet stricter design and performance specs and fetch premium pricing. The demand isn't just domestic. The company is present in over 80 countries, with more than 6,000 turbines installed globally, and is building a credible brand in high-quality industrial turbines. 2. Aftermarket services: Recurring revenue Steam turbines need regular maintenance, spares, and upgrades, especially in mission-critical plants. Triveni's aftermarket segment provides exactly that, often for the entire lifecycle of the turbine, which can span 15-30 years. In FY25, aftermarket revenue hit Rs 642 crore, up 19% YoY. It now makes up 32% of overall revenue. The company booked Rs 6,216 crore in aftermarket orders during the year, largely flat YoY but healthy in absolute terms. This segment is a high-margin cushion, it continues to grow even when new industrial capex is slow. 3. Global expansion: Exports and subsidiaries leading the way A big part of Triveni's success story is happening outside India. In FY25, exports contributed 48% of revenue, compared to 46% in FY24 and 41% in FY23. Export turnover grew by 26% YoY, reaching Rs 967 crore. Export order booking stood at Rs 1,258 crore, making up 53% of total orders. To serve global markets better, Triveni has set up fully owned subsidiaries in the UK (Europe HQ), Dubai (Middle East hub), South Africa (Africa servicing), and Texas, USA (entry into North America). While the US business is still in its early phase, the management is bullish, especially in sectors like geothermal, pulp & paper, and industrial gas turbines. Tariff hurdles may have slowed initial traction, but Triveni has begun localising operations and may even manufacture turbines in the US if needed. Together, these three engines — core turbines, aftermarket, and exports — are what powered Triveni's transformation from a steady industrial player to a clean-energy growth story. Next, we'll look at how a first-of-its-kind project with NTPC may signal a bigger pivot for the company, from just making turbines to enabling India's energy transition. The clean energy pivot: More than just steam For years, Triveni Turbine quietly built its reputation by serving traditional industries like sugar, textiles, and cement. But over the last three years, the company has deliberately repositioned itself as a partner in clean energy and decarbonisation. And the biggest sign of that shift? A Rs 2.9 billion order from NTPC that has almost nothing to do with conventional steam turbines, and everything to do with the future of renewable energy storage. The NTPC-Kudgi project: A glimpse into the future In January 2025, Triveni secured a landmark contract from NTPC to set up a 160 MWh long-duration CO₂-based energy storage system (ESS) at its Kudgi thermal power plant in Karnataka. This isn't just a big-ticket order, it's a first-of-its-kind pilot in India, and only a handful of such projects exist globally. So, how does it work? The system, developed in partnership with Italian firm Energy Dome, uses supercritical CO₂ in a closed-loop cycle to store and release energy. When excess renewable power is available (say, solar at noon), the system compresses and stores CO₂ in liquid form. When power is needed (like at night), it releases the gas, drives a turbine, and pushes energy back into the grid. It's clean, scalable, and built for the intermittency problem of renewables. Why this matters for Triveni This order does three things for the company: 1. Proves it can play in futuristic, high-tech energy segments. Until now, energy storage was seen as the domain of lithium-ion batteries or pumped hydro. Triveni has now stepped into the conversation with a differentiated solution. 2. Establishes credibility in grid-scale clean energy projects. NTPC is India's largest power utility. Delivering a complex, first-of-its-kind project for NTPC could open doors for similar projects across the country, and even globally. 3. Creates a new business vertical, if it works. The company has called this a 'proof of concept.' If successful, CO₂-based energy storage could become a product category of its own, expanding Triveni's addressable market well beyond steam turbines. Clean energy is already embedded in the core business Even outside this CO₂ project, clean and decentralised energy already makes up a big chunk of Triveni's order book. In FY25: In short, Triveni is already riding two energy transition megatrends: The NTPC project might just be the first visible symbol of a deeper strategic shift that's already underway. FY25 at a glance: Record-breaking numbers So what's behind this steady margin expansion? 1. Higher Exports = Higher Margins In FY25, Triveni's export revenue grew 26% YoY, compared to 17% growth domestically. 2. Favourable product mix The company has been tactically shifting its focus from small, low-margin turbines to more complex, high-margin products, especially API turbines for global oil & gas players, power turbines for international energy clients, and CO₂-based ESS projects, which offer turnkey margins comparable to large industrial contracts. This mix shift has been a major contributor to the 280 basis point jump in operating margins between FY24 and FY25. 3. Operating leverage kicking in As revenue crosses the Rs 2,000 crore-mark, Triveni is now seeing fixed costs spread across a higher base, especially in areas like: R&D and engineering (which are being scaled globally) Aftermarket service (where incremental customers drive disproportionate margins) International subsidiaries (which took time to scale, but are now contributing meaningfully) 4. Tight control over costs Despite global inflation in raw materials (especially steel and alloys), Triveni's cost controls have held up: Key financial ratios that stand out This is capital-efficient, margin-accretive growth, the kind long-term investors love. That said, the next question is natural: Can this momentum continue, or is Triveni nearing peak profitability? Orders in hand, eyes on the horizon: Can growth sustain? Management commentary suggests cautious confidence. Here's what they see as Triveni's next drivers: 1. Export Expansion The company is doubling down on exports, especially in: With new local entities like Triveni Turbines Americas (Texas), the company aims to reduce friction and eventually localise part of manufacturing if needed. 2. CO₂ storage as a scalable segment The NTPC-Kudgi project is seen as a 'proof-of-concept,' but if it succeeds, Triveni believes it could replicate the model across India and even internationally. The margins are comparable to the turbine business, but the TAM could be much larger. 3. Aftermarket deepening More turbines on the ground = more servicing revenue. And unlike capital goods, aftermarket is sticky, high-margin, and recurring. Triveni is expanding offerings to cover even non-Triveni turbines, including gas, geothermal, and utility-grade machines. But what about valuation? That brings us to the trickiest part. Triveni's stock has had a solid run and is no longer cheap. At a recent price of ~Rs 580-600, the stock trades at: Is it justified? Let's map out a few scenarios. Valuation Scenarios (FY26E) Scenario EPS (FY26E) P/E Multiple Implied Price Conservative (with 16% growth in EPS) ₹13 35x ₹455 Base Case (with 25% growth in EPS) ₹14 40x ₹560 Bullish Upside (with 34% growth in EPS) ₹15 45x ₹675 Note: This is not a prediction of where the stock price could head. It's just an if-then calculation for acade Upside from here depends on one or more of the following happening: Risks include: Note: This is not a prediction of where the stock price could head. It's just an if-then calculation for academic purposes. So is it still a buy? That depends on your lens. If you're a long-term investor betting on India's energy transition and want exposure to industrial clean tech, Triveni offers moated leadership, consistent earnings, and a clean balance sheet. If you're a value-conscious buyer, much of the near-term optimism may already be priced in. Either way, Triveni is no longer just a steam turbine company. It's a clean-energy engineering play with global ambitions, and over the next few years, it'll either scale into that potential or find itself in a high bar vs high multiple dilemma. Note: This article relies on data from annual and industry reports. We have used our assumptions for forecasting. Parth Parikh has over a decade of experience in finance and research and currently heads the growth and content vertical at Finsire. He holds an FRM Charter along with an MBA in Finance from Narsee Monjee Institute of Management Studies. Disclosure: The writer and his dependents do not hold the stocks discussed in this article. The website managers, its employee(s), and contributors/writers/authors of articles have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and/or companies discussed therein. The content of the articles and the interpretation of data are solely the personal views of the contributors/ writers/authors. Investors must make their own investment decisions based on their specific objectives, resources and only after consulting such independent advisors as may be necessary.
