Trident Ltd reports total income of Rs 16,247 million for Q3 FY23

Trident Limited, a vertically integrated Textile (Yarn, Towel & Bedsheets) and Paper (Wheat-Straw based) & Chemical manufacturer announced its financial results for the quarter ended December 31, 2022.

Financial Highlights:

Trident Limited’s Total Income for Q3FY23 is INR 16,247 million as compared to INR 19,611 million in Q3FY22 whereas INR 47,203 million for 9MFY23 as compared to INR 50,885 million for 9MFY22.

EBITDA for Q3FY23 stood at INR 2,790 million with an EBITDA margin at 17.2% and INR 6,855 million for 9MFY23 with margin at 14.5%.

Profit after tax for Q3FY23 reported at INR 1,420 million with PAT margin of 8.7% and INR 3,055 million for 9MFY23 with margin at 6.5%.

Net Debt stood at INR 8,466 million in 9MFY23 vs. INR 12,972 million (Mar 2022), reduction of INR 4,506 million.

Net Debt to Equity has improved to 0.22 x as on 31st Dec 2022 from 0.34 x in March 2022.

Business Highlights:

The company has implemented business wise Federal Structure, which enables entrepreneurial, agile, and empowered leadership. Further, Textile business has been bifurcated into 3 individual segments – Yarn, Towel & Bedsheets which has enabled respective business to focus on their respective strengths and efficient optimization of resources.

Capacity Enhancement:

Trident Limited, earlier announced capex worth INR 22,700 million for capacity addition in Yarn, Towel, Bedsheets & Chemical business for which the projects are under different development and implementation stages.

Proposed capacity addition by the company in Yarn’s segment is 1,93,344 spindles for which the commercial operations are expected from September 2023 with an investment of INR 12800 million .

Proposed capacity addition by the company in the Towels segment is 42 Looms for which the commercial operations are expected from June 2023 with an investment of INR 2470 million.

Proposed capacity addition by the company in the Bedsheets segment is 90,000 meters per day for which the commercial operations are expected from September 2023 with an investment of INR 4680 million.

Proposed capacity addition by the company in the Chemical segment is 1,05,000 TPA for which the commercial operations are expected from March 2024 with an investment of INR 1000 million .

Proposed capacity addition by the company in Co-Gen is 16.3 MW for which the commercial operations are expected from September 2023 with an investment of INR 1750 million.

Mode of financing for the capacity enhancement would be through Debt and Equity