Chandigarh/ Ludhiana (Punjab) [India], February 2 (ANI/SRV): Trident Limited, a vertically integrated Textile (Yarn, Towel & Bedsheets) and Paper (Wheat-Straw based) & Chemical manufacturer announced its financial results for the quarter that ended December 31, 2022.
Trident Limited's Total Income for Q3FY23 is Rs 16,247 million as compared to Rs 19,611 million in Q3FY22 whereas Rs 47,203 million for 9MFY23 as compared to Rs 50,885 million for 9MFY22. The Company's EBITDA for Q3FY23 stood at Rs 2,790 million with an EBITDA margin of 17.2 per cent and Rs 6,855 million for 9MFY23 with a margin of 14.5 per cent. The Company's Profit after tax for Q3FY23 was reported at Rs 1,420 million with a PAT margin of 8.7 per cent and Rs 3,055 million for 9MFY23 with a margin of 6.5 per cent. The Company's Net Debt stood at Rs 8,466 million in 9MFY23 vs. Rs 12,972 million (Mar 2022), a reduction of Rs 4,506 million. The Company's Net Debt to Equity has improved to 0.22 x as on 31st Dec 2022 from 0.34 x in March 2022.
The company has implemented a business-wise Federal Structure, which enables entrepreneurial, agile, and empowered leadership. Further, the Textile business has been bifurcated into 3 individual segments - Yarn, Towel & Bedsheets which has enabled the respective business to focus on their respective strengths and efficient optimization of resources.
Trident Limited earlier announced a capex worth Rs 22,700 million for capacity addition in Yarn, towels, Bedsheets & Chemical business for which the projects are under different development and implementation stage.
The proposed capacity addition by the company in the Yarns segment is 1,93,344 spindles for which the commercial operations are expected from September 2023 with an investment of Rs 12800 million. The 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 Rs 2470 million. The 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 Rs 4680 million. The 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 Rs 1000 million. The 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 Rs 1750 million. The mode of financing for the capacity enhancement would be through Debt and Equity
Trident Limited is the flagship Company of Trident Group, an Indian business conglomerate, and a global player. Headquartered in Ludhiana, Punjab, Trident Limited is a vertically integrated textile (Yarn, Towel & Bedsheets) and Paper (Wheat Straw-based) manufacturer. Trident's towel, yarn, bed sheets, and paper businesses have earned global recognition and are delighting millions of consumers 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 four major business segments: Yarn, towels, Bedsheets, and Paper & Chemicals with its manufacturing facilities located in Punjab and Madhya Pradesh.
For more information, please visit www.tridentindia.com
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