Trident Limited announces interim dividend of INR 0.36 per share for FY 2024-25
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Total Income at INR 6790 Cr.; registered a growth of 8% in FY24 on Y-o-Y basis.
EBITDA stood at INR 995 Cr. , Net Profit (PAT) stood at INR 390 Cr.
Anubhav Dubey, Chandigarh 21 May 2024
Trident Limited, one of the largest vertically integrated Textile (Yarn, Bath & Bed Linen) Paper (Wheat Straw-based) and Chemical manufacturer 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 Cr. 6867. as compared to INR 6357 Cr. in FY23; showing a growth of 8%
• Consolidated Earnings before Income, Depreciation, tax, and Amortization (EBIDTA) 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 Limited, 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 started in the last quarter of FY 23 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 manufacturing prowess, as evidenced in increasingly better order book and volumes in the home textiles segment. Our investments this year of INR 785 Cr. has 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. Despite the capex and loan towards buying cotton during the season, our Net Debt has not increased to that extent.
ESG (Environmental, Social, and Governance) is the need of the hour and company continues to focus on sustainable projects including renewables as well as reducing fossil fuel. Focusing significantly on the process control, heading 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 1146 Cr. over the previous year (FY23) at INR 1344 Cr.
• In the FY 23-24 the company invested additional INR 785 Cr. on Capex to complete the total investment of INR 1397 Cr. for completion of ongoing spinning, sheeting & towel projects & additional capacity increase of Cogen Power Plant & Solar Power Plant.
• During the year, the company expanded the production capacity of Towel Segment by installing 42 Looms (7200 Ton/pa) and Yarn Segment by installing 1,89,696 spindles for fine count enhancement and Sheeting Segment by 10.8 Mn meters per year in process house & CSP.
• Total Capex made across Energy, including solar roof top amounting to around INR 204.86 Cr.
In the board meeting held on 18 May 2024, Board of Directors has declared first interim dividend of INR 0.36 per fully paid equity share for the year FY 2024-2025.
Recent Accolades – Times Group awarded the company as the Best Organization for Women in both 2023 and 2024. In 2023, the company was honoured 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.
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