Trident Limited Announces Dividend
- Total Income at INR 6790 Cr.; registered a growth of 8% in FY24 on a Y-o-Y basis.
- EBITDA stood at INR 995 Cr. Net Profit (PAT) stood at INR 390 Cr.
The company’s board of directors has declared a first interim dividend of INR 0.36 per fully paid equity share for FY 2024-25
India, 21 May 2024: Trident Limited, one of the largest vertically integrated Textile (Yarn, Bath & Bed Linen) Paper (Wheat Straw-based) and Chemical manufacturers has reported financial results for the fourth quarter and year ended March 31, 2024.
Financial highlights for FY24:
- Consolidated Income for the year FY24 stood at INR 6867 Cr. as compared to INR 6357 Cr. in FY23; showing a growth of 8%.
- Consolidated Earnings Before Income, Depreciation, tax, and Amortization (EBITDA) for the year FY24 stood at INR 998 Cr. as compared to INR 971 Cr. in FY23.
- Consolidated Net Profit (PAT) for the year FY24 stood at INR 350 Cr. compared to INR 442 Cr. in FY23.
- Net Debt stands at INR 1534 Cr. on 31st March’24 as compared to INR 1022 Cr. as on 31st March’23
Commenting on the results, Mr. Deepak Nanda, Managing Director, Trident Ltd, said, “As we reflect on Trident Limited’s Q4 and FY24 results, it’s evident that amidst challenging macroeconomic conditions, our company has showcased year-on-year growth. The transformation journey that started in the last quarter of FY23 is continuing. Textiles saw price pressure due to subdued cotton prices, whereas Paper prices were under pressure due to heavy imports.
We remain confident of Trident Limited’s manufacturing prowess, as evidenced by increasingly better-order books and volumes in the home textiles segment. Our investments this year of INR 785 Cr. have added to our production capabilities which will start reflecting in numbers from the next year. We continue to focus on reducing Net Debt and strengthening the balance sheet continues. Despite the capex and loan towards buying cotton during the season, our Net Debt has not increased to that extent.
ESG is the need of the hour and the company continues to focus on sustainable projects including renewables as well as reducing fossil fuel. Focusing significantly on process control, the company re-implemented the latest SAP version for its Bath & Linen division.
Going forward, we shall continue focusing on improving our volumes, value-added products and ESG. With this foundation, Trident Limited stands poised to continue its journey of sustainable growth and innovation in the ensuing period”.
Business Performance:
- Yarn Business Standalone Revenue for the year stood at INR 3262 Cr. in FY24 over the previous year at INR 3182 Cr.; showing a growth of 2.5%.
- Home Textile | Bath and Bed Linen Standalone Revenue for the year stood at INR 3814 Cr.; showing a growth of 11 % over the previous year at INR 3426 Cr.
- Paper and Chemicals Standalone Revenue for the current year stood at INR 1146 Cr. over the previous year (FY23) at INR 1344 Cr.
- In FY23-24 the company invested an additional INR 785 Cr. on Capex to complete the total investment of INR 1397 Cr. for the completion of ongoing spinning, sheeting & towel projects & additional capacity increase of the Cogen Power Plant & Solar Power Plant.
- During the year, the company expanded the production capacity of the Towel Segment by installing 42 Looms (7200 Ton/pa) and the Yarn Segment by installing 1,89,696 spindles for fine count enhancement and Sheeting Segment by 10.8 Mn meters per year in the process house & CSP.
- Total Capex made across Energy, including solar rooftop amounting to around INR 204.86 Cr.
In the board meeting held on 18 May 2024, the Board of Directors declared the first interim dividend of INR 0.36 per fully paid equity share for the year FY 2024-2025.
Recent Accolades – Times Group as the Best Organization for Women in both 2023 and 2024. In 2023, the company was honored as India’s Best In-House Design Studio. Additionally, Trident was distinguished with the Best Eco-Friendly Product of the Year Award at Paper World Middle East in Dubai. These achievements underscore the company’s dedication to excellence and sustainability.
About Trident:
Trident Limited is the flagship company of Trident Group, an Indian business conglomerate and global player. Headquartered in Ludhiana, Punjab, Trident Limited are a vertically integrated textile (Yarn, Bath & Bed Linen) Paper (Wheat Straw-based) and Chemical manufacturer.
Trident’s yarns, bath & bedlinen and paper businesses have earned global recognition and are delighting millions of customers across India and the world. Trident is one of the largest players in home textiles in India.
Supplying national, captive, and retailer-owned brands; the organization is highly decorated with awards from its customers, vendors, and various government entities in recognition of advancing the highest standards in product quality, social responsibility, and environmental stewardship.
The company operates in three major business segments: Textile (Yarn, Bath & Bed Linen) Paper (Wheat Straw-based) and Chemical, with its manufacturing facilities in Punjab and Madhya Pradesh.
