Mumbai, Sept. 21 -- The agency has also affirmed the company's short-term rating at '[ICRA] A1+'.

ICRA stated that the ratings reaffirmation takes into account Triveni Turbine Limited's (TTL) healthy order book of Rs. 2,179.6 crore as on June 30, 2026, a comfortable order intake and the continued favourable investment cycle in various end-user industries in India and overseas. The current order book lends strong medium-term revenue visibility.

ICRA notes that the company had reported comfortable revenue growth and healthy profitability in FY2026, though margins moderated by 144 basis points year-on-year (YoY) to 21.4% due to lower aftermarket contribution, and execution of strategic orders. Q1 FY2027 margins declined further to 11.6% du...