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Trident Ltd announces Q1FY18 results

Posted On: 2017-08-14 05:42:44


Q1FY2018 Highlights:

- Achieved highest ever EBITDA Margin of 44% in the Paper Business
- 32% volume growth in Bed Linen Q-o-Q
- Net Revenue stood at INR 1210 crores with,
- EBITDA of INR 259.4 crore and EBITDA margin at 21.4%
- Profit After Tax for Q1 FY18 was INR 88.9 crore, up 13.2%
- Net Debt declined by INR 45 crore; Net Debt / Equity Ratio 0.9x
- Board declared 1st Interim Dividend of 6% on equity shares

Trident Limited (Trident), flagship Company of USD 1 billion TridentGroup and a leading manufacturer and exporter of Home Textiles & Paperproducts, announced its financial results for the quarter ended June 30, 2017.

Performance Overview (Q1FY2018)

- Net Revenue stood at INR 1,210.4 crore in Q1FY18, up 3.3% compared to INR 1171.7 crore in Q1FY17

* Domestic business witnessed subdued growth due to transition phase of GST implementation, which is expected to be positive in the longer run for organised home textile players.

* Bed Linen continued to get encouraging response in the International market.

- EBITDA increased by 4.5% to INR 259.4 crore during Q1 FY18 from INR 248.2 crore in Q1FY17

- Net Debt as on June 30, 2017 stood at INR 2,669 crore compared to INR 2,714 crore as on March 31, 2017

* Healthy Free Cash Flow Generation led to reduction in Long Term Debt of INR 227 crore including high cost debt of Rs 187 crore.

* Finance Cost reduced by 21.8% to INR 33.4 crore in Q1 FY18 vis-à-vis INR 42.7 crore in Q1 FY17

* Net Debt to Equity ratio declined to 0.9x as compared to 1x as on March 31, 2017

- PAT higher by 13.2% to INR 88.9 crore in Q1 FY18 compared to INR 78.5 crore in Q1FY17

* Diluted EPS (non-annualized) enhanced to INR 1.75 per share in Q1 FY18 against INR 1.54 per share in Q1 FY17

- Cash Profits during Q1 FY17 stood at INR 191.3 crore vis-à-vis INR 181.9 crore, higher by 5.14%

Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said: "With our brand presence in around 450 Multi Brand Outlets and e-commerce platform, domestic business is growing at double digit and with introduction of GST we see this as a high potential market which is currently dominated by unorganized players.

Also our unceasing efforts in creating value for our stakeholders, we have been continuously improving our return ratios through deleveraging the balance sheet. Our enhanced focus on marketing, design and product innovation and to withstand current headwinds, we are relentlessly working and committed towards achieving our targets."

Shares of TRIDENT LTD. was last trading in BSE at Rs.75.2 as compared to the previous close of Rs. 77.8. The total number of shares traded during the day was 229740 in over 1325 trades.

The stock hit an intraday high of Rs. 79 and intraday low of 74.9. The net turnover during the day was Rs. 17433238.


Source: Equity Bulls

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