November 7, 2024 Ludhiana, India: One of the biggest vertically integrated manufacturers of textiles (yarn, bath, and bed linen), paper (based on wheat straw), and chemicals, Trident Limited, released its earnings for the quarter and a half that ended on September 30th (Q2FY25).
Financial Highlights:
With a total standalone income of INR 1721 Cr. and earnings before interest, depreciation, tax, and amortization (EBIDTA) of INR 236 Cr., the profit after tax (PAT) for the second quarter of FY25 was INR 84 Cr., compared to INR 73 Cr for the previous June quarter.
Standalone Total Income for H1FY25 stood at INR 3470 Cr. as against INR 3253 Cr. of H1FY24, showing a growth of 6.7 %
Commenting on the results, Mr. Deepak Nanda, Managing Director, Trident Ltd., said:
“We have improved our working capital efficiency and reduced our debt by INR 440 Cr., which has strengthened our balance sheet significantly. As a result, the Debt Equity Ratio has improved from 0.50 to 0.37. Further supporting our financial stability is the Current Ratio, which increased from 1.59 on a Q-o-Q basis to 1.74. A decrease in yarn pricing that affected our Integrated Home Textile business caused our Top Line, Revenue, and Bottom-Line, Profit for the quarter to expand more slowly, despite the fact that our Half Yearly Revenue increased 6.7% to INR 3470 Cr. Likewise, there was a general decline in market demand for paper products.
Business Performance:
While maintaining margins and a slight increase in our Bath Linen Business margin, Q2 FY25 Standalone Revenue for Yarn, Home Textile, and Paper & Chemical was likewise subdued at INR 902 Cr., INR 980 Cr., and INR 233 Cr., respectively.
Other Developments During the Quarter:
To increase its worldwide presence, Trident Ltd. formed Trident Group Enterprises Pte., a wholly owned subsidiary in Singapore. Additionally, Trident Group displayed its wide selection of products during the esteemed NY Home Fashion Market Week in New York. The company continues to make significant investments in improving production capacity and environmental initiatives, as exports account for 57% of its income.
The establishment of Takshashila, our flagship recruitment and training program, and campus hiring were two significant initiatives on the human resources and talent front that intended to empower 2000 entry-level employees from rural and semi-urban India. More than 1500 merchants attended Trident Group’s biggest 5-day retailer event, which was held in New Delhi.
By supporting the community in the areas of high-quality education, healthcare access, women’s empowerment, skill development and livelihood creation, sustainability, and clean environment, among other areas, the company reiterated its commitment to corporate social responsibility.
In compliance with the GRI (Global Reporting Initiative) methodology, the company published its first ESG Report for FY 23–24 during the quarter. In addition to submitting the S&P Global Corporate Sustainability Assessment in September and the Carbon Disclosure Assessment in October, Intertek undertook an independent limited assurance of the report, underscoring its dedication to sustainability and openness as a responsible leader in the industry.
