Trident Limited, a vertically integrated Textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer announced its financial results for the quarter and nine months ended December 31st, 2018.
Financial & Business Highlights:
- Total Income stood at INR 1306.4 crore in Q3 FY19 as against INR 1098.4 crores in Q3 FY 18 registering 18.9% growth Y-o-Y.
- Home Textile - Bed Linen sales grew by 41.7% and Bath Linen sales grew by 10.1% Year on Year in Q3 FY19 as compared to same period last year;
- EBITDA improved by 22.5% Y-o-Y to INR 283.6 crores in Q3 FY19 compared to INR 231.6 crores in Q3 FY18. EBITDA Margin stood at 21.7% in Q3 FY19 & 19.7% in 9M FY 19.
- Finance Costs stood at INR 29.4 crores in Q3 FY 19, increased by 16.5% Y-o-Y compared to same period last year.
- Profit after Tax stood at INR 112.1 crores in Q3 FY 19, up 53.6% Y-o-Y and 2.7% Q-o-Q.
- EPS for Q3 stood at INR 2.20 and for 9M FY 19 stood at INR 5.50
- Net Debt stands at INR 2197 crores as on 31st December 2018 (INR 2621 crores as on 31st March 2018); Net Debt/Equity of 0.7x as on 31st December 2018 (0.9x as on 31st March 2018)
- Textile - Segment Revenue grew by 18.6% to INR 1032.3 crores compared to INR 870.2 crores in Q3 FY18. EBIT grew by 43.1% to INR 108.6 crores Y-o-Y.
- Paper Segment Revenue grew by 15.7% to INR 259.2 crores compared to INR 224.1 crores in Q3 FY18. EBIT grew by 51.8% to INR 98.7 crores Y-o-Y.
- Board Declared 3rd Interim Dividend of INR 1.20 per fully paid up share of INR 10 each. Total Dividend declared for 9M FY19 is INR 2.40 per share.
Trident Home Textiles secured 1st Rank globally by Walmart Sustainability survey 2018-19.
Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said: "We are pleased with the financial and operational performance achieved during the quarter. We remain focused on sweating manufacturing capacities and expect to further increase the utilization level led by expanding across geographies and enhancing our market share. We will continue to consolidate the business by leveraging the existing customers and adding new customers to its portfolio".
Shares of TRIDENT LTD. was last trading in BSE at Rs.70.65 as compared to the previous close of Rs. 72.75. The total number of shares traded during the day was 194791 in over 1553 trades.
The stock hit an intraday high of Rs. 73.5 and intraday low of 70.5. The net turnover during the day was Rs. 13939713.