Trident Ltd

The agency has also affirmed the company's short-term rating at 'CARE A1+'. CARE Ratings stated that the ratings assigned to bank facilities of Trident continue to derive strength from its experienced management, diversified and integrated operations across textile and paper and chemicals segments, geographically diversified revenue stream and long and established customer relationships with large global retailers for its home textile business. Ratings further factor its comfortable capital structure and debt coverage indicators, strong liquidity and fiscal incentives available for textile sector. However, the long-term rating is tempered by moderation in the company's operating profitability in FY24 (refers to April 01 to March 31) and 9MFY25. This is attributed to cotton yarn spreads and lower average sales realisation in the paper segment amidst oversupply and high raw material costs apart from slow ramp up of recently added capacities. However, operating profitability is expected to improve from FY26 onwards as the new capacities ramp-up. Ratings also factor Trident's working capital intensive operations, profitability margins susceptible to cotton price volatility and foreign exchange rate movements and its presence in the inherently cyclical, fragmented and competitive textile and paper industries. Trident is the flagship company of the Punjab-based Trident group. Trident is engaged in manufacturing cotton yarn, towel, bed sheet, paper and chemical products. Trident has three manufacturing facilities at Barnala, Punjab, and Budhni, Madhya Pradesh. The scrip had fallen 2.28% to end at Rs 26.57 on the BSE on Friday. Powered by Capital Market - Live

Trident has received affirmation in credit ratings for bank facilities at CARE AA; Stable/ CARE A1+. Powered by Capital Market - Live

Profit before tax stood at Rs 101.78 crore in the December 2024 quarter, down by 30.44% on YoY basis. The firm's revenue from yarn business stood at Rs 841.31 crore (down 4.67% YoY) and revenue from towel business was at Rs 626.42 crore (down 9.64%). Further, revenue from bedsheets segment was at Rs 311.55 crore (down 12.58% YoY) and revenue from paper and chemicals business stood at Rs 257.71 crore (down 16.57% YoY) during the period under review. On standalone basis, the company's net profit decreased 27.44% to Rs 77.94 crore on 8.81% decline in revenue from operations to Rs 1,662.58 crore in Q3 FY25 over Q3 FY24. Earnings before interest, depreciation, tax, and amortization (EBIDTA) stood at Rs 225 crore in the quarter ended 31 December 2024. Deepak Nanda, managing director of Trident, said, 'At Trident, we're proud to reaffirm our position as a leader in sustainable manufacturing. This quarter's achievements showcase our unwavering commitment to environmental stewardship and fiscal responsibility. By reducing our consolidated debt by 191 crore, we've strengthened our financial foundation, while our investments in renewable energy, including the installation of 16.4MWp rooftop solar, demonstrate our dedication to a greener future. Further, our new renewable project with planned investment, solidifies Trident's position at the forefront of sustainable business practices, driving long-term value creation for our stakeholders.' Trident is one of the largest towel manufacturers of the world, one of the world's largest agro'based paper manufacturers and one of the largest yarn producers in India. Trident is a vertically integrated textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer. Powered by Capital Market - Live

Net profit of Trident declined 26.73% to Rs 79.70 crore in the quarter ended December 2024 as against Rs 108.78 crore during the previous quarter ended December 2023. Sales declined 9.17% to Rs 1667.09 crore in the quarter ended December 2024 as against Rs 1835.34 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1667.091835.34 -9 OPM %12.8214.34 - PBDT194.34236.73 -18 PBT101.78146.33 -30 NP79.70108.78 -27 Powered by Capital Market - Live

Trident will hold a meeting of the Board of Directors of the Company on 24 January 2025.Powered by Capital Market - Live

CEAT Ltd, Sundram Fasteners Ltd, Gujarat Ambuja Exports Ltd, Varroc Engineering Ltd are among the other stocks to see a surge in volumes on NSE today, 09 December 2024.Trident Ltd registered volume of 1725.44 lakh shares by 14:14 IST on NSE, a 35.18 fold spurt over two-week average daily volume of 49.04 lakh shares. The stock rose 11.87% to Rs.38.55. Volumes stood at 34.02 lakh shares in the last session.CEAT Ltd witnessed volume of 33.05 lakh shares by 14:14 IST on NSE, a 34.45 times surge over two-week average daily volume of 95952 shares. The stock increased 13.37% to Rs.3,509.70. Volumes stood at 60228 shares in the last session.Sundram Fasteners Ltd witnessed volume of 9.29 lakh shares by 14:14 IST on NSE, a 19.86 times surge over two-week average daily volume of 46791 shares. The stock increased 4.35% to Rs.1,181.55. Volumes stood at 37236 shares in the last session.Gujarat Ambuja Exports Ltd recorded volume of 87.48 lakh shares by 14:14 IST on NSE, a 12.26 times surge over two-week average daily volume of 7.14 lakh shares. The stock gained 7.23% to Rs.140.07. Volumes stood at 5.34 lakh shares in the last session.Varroc Engineering Ltd witnessed volume of 9.69 lakh shares by 14:14 IST on NSE, a 11.12 times surge over two-week average daily volume of 87073 shares. The stock increased 3.03% to Rs.533.00. Volumes stood at 96974 shares in the last session.Powered by Capital Market - Live

Net profit of Trident declined 8.29% to Rs 83.19 crore in the quarter ended September 2024 as against Rs 90.71 crore during the previous quarter ended September 2023. Sales declined 4.71% to Rs 1712.94 crore in the quarter ended September 2024 as against Rs 1797.52 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1712.941797.52 -5 OPM %13.2113.37 - PBDT191.26219.68 -13 PBT99.07130.29 -24 NP83.1990.71 -8 Powered by Capital Market - Live

Trident has appointed Avneesh Barua, as Chief Financial Officer and Key Managerial Person (CFO & KMP) of the Company with effect from 06 November 2024. Powered by Capital Market - Live

Trident will hold a meeting of the Board of Directors of the Company on 6 November 2024.Powered by Capital Market - Live

The company has incorporated Trident Group Enterprises by subscription of 1,000 ordinary shares at face value of $1 aggregating to Rs $1,000. The new entity is engaged in textiles, treasury, investment, financing & other business activities. The object of incorporation of arm is to diversify and expand the current business operations in global market, explore the future business opportunities and carry out treasury, investment & financing activities. Trident is one of the largest towel manufacturers of the world, one of the world's largest agro'based paper manufacturers and one of the largest yarn producers in India. Trident is a vertically integrated textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer. The textile producer's consolidated net profit declined 21.1% to Rs 73.73 crore in Q4 FY24 as against Rs 93.40 crore in Q1 FY24. Net sales rose 16.7% YoY to Rs 1,742.71 crore in June 2024 quarter. Shares of Trident added 0.38% close at Rs 36.65 on Friday, 13 September 2024. Powered by Capital Market - Live