-Chandigarh , India 8th November 2024: Trident Limited, one of the largest vertically integrated Textile (Yarn, Bath, Bed Linen) Paper (wheat straw -based) and Chemical manufacturer announced its earnings for the quarter, and half yearly ended, 30th September (Q2FY25)
Financial Highlights:
Total Standalone Income for Q2FY25 stood at INR 1721 Cr., while Earnings Before Interest, Depreciation, Tax, and Amortization (EBIDTA) stood at INR 236 Cr. resulting in Profit After Tax (PAT) to INR 84Cr. as against INR 73 Cr. of sequential, 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 significantly strengthened our balance sheet by reducing debt by INR 440 Cr. and improving our working capital efficiency, resulting in improvement of Debt Equity Ratio at 0.37 from 0.50. Further, our financial health is reinforced through improvements of Current Ratio at 1.74 from 1.59 Q-o-Q basis. Half Yearly Revenue at INR 3470 Cr. saw a growth of 6.7 %; However, our Top Line, Revenue and Bottom-Line, Profit for the Quarter witnessed a muted growth driven by a decline in Yarn prices that impacted our Integrated Home Textile business. Similarly, the Paper business faced overall softening of market demand”.
Business Performance:
Q2 FY25 Standalone Revenue for Yarn, Home Textile and Paper & Chemical were also muted at INR 902 Cr., INR 980 Cr., and INR 233 Cr. respectively, while retaining margins and marginal improvement of our Bath Linen Business margin.
Other Developments During the Quarter:
Trident Ltd. established Trident Group Enterprises Pte., its wholly owned subsidiary in Singapore, enhancing its global footprint. Trident Group also showcased its diverse product range at the prestigious NY Home Fashion Market Week in New York. With exports contributing 57% of revenue, the Company continues to invest heavily in enhancing production capabilities and sustainability initiatives.
On Human Resource and Talent front, key initiatives included, campus hiring and the launch of Takshashila, our flagship recruitment and training program aimed at empowering 2000 entry-level employees from rural and semi-urban India. Additionally, Trident Group hosted its largest 5-day retailer meet in New Delhi, attracting over 1500 retailers.
The Company reaffirmed its commitment to Corporate Social Responsibility by serving to the community in the areas of Quality Education, Access to Healthcare, Women Empowerment, Skill Development & Livelihood generation, Clean Environment, Sustainability etc.
During the quarter the company released its maiden ESG Report for FY 23-24 in accordance with GRI (Global Reporting Initiative) framework. Independent limited assurance of the report was conducted with Intertek, and it also submitted S&P global corporate sustainability assessment in September and Carbon Disclosure Assessment in October, highlighting its commitment to sustainability and transparency as a responsible industry leader.
