Trident Reports Rs 1721 Cr Income, Reduces Debt By Rs 440 Cr In Q2 FY25

Trident Ltd, a leading vertically integrated manufacturer of textiles (including yarn, bath and bed linen), paper (wheat straw-based), and chemicals, has announced its financial results for the second quarter of fiscal year 2025 (Q2 FY25) ending on 30th September 2024.

For Q2 FY25, the company’s standalone total income stood at Rs 1721 crore, with an earnings before interest, depreciation, tax, and amortization (EBITDA) of Rs 236 crore, resulting in a profit after tax (PAT) of Rs 84 crore, an increase from Rs 73 crore in the sequential June quarter. The company also reported a 6.7% year-on-year growth in total income for the first half of FY25, amounting to Rs 3470 crore, compared to Rs 3253 crore in H1 FY24.

Trident Ltd. has significantly bolstered its financial position by reducing borrowings by Rs 440 crore. The company’s debt-to-equity ratio improved to 0.37 from 0.50, and its current ratio strengthened to 1.74 from 1.59 on a quarter-on-quarter basis.

Commenting on the results, Deepak Nanda, Managing Director of Trident Ltd., said, “We have significantly strengthened our balance sheet by reducing debt by Rs 440 crore and improving our working capital efficiency, resulting in an improved debt-to-equity ratio of 0.37 from 0.50. Additionally, our financial health is reinforced through improvements in the current ratio to 1.74 from 1.59 on a Q-o-Q basis. Despite a muted growth in topline revenue and bottomline profit due to a decline in yarn prices and softer market demand for our paper business, we continue to focus on driving sustainable growth.”

Trident’s key business segments, including yarn, home textiles, and paper & chemicals, experienced muted revenue growth in Q2 FY25. The standalone revenue from yarn was Rs 902 crore, from home textiles was Rs 980 crore, and from paper & chemicals Rs 233 crore. However, the company was able to retain its margins, with a slight improvement in the Bath Linen business.

Trident continues to expand its global footprint, having recently established Trident Group Enterprises Pte., a wholly-owned subsidiary in Singapore. The company also showcased its diverse range of products at the prestigious NY Home Fashion Market Week in New York. With exports contributing 57% of its revenue, Trident remains committed to expanding its production capabilities and investing in sustainability initiatives.

On the human resources front, Trident launched its Takshashila programme, a recruitment and training initiative aimed at empowering 2000 entry-level employees from rural and semi-urban India. The company also hosted its largest-ever retailer meet in New Delhi, attracting over 1500 retailers.

Trident reaffirmed its commitment to corporate social responsibility (CSR) with efforts focusing on quality education, healthcare access, women empowerment, skill development and environmental sustainability.

Trident Ltd. also released its maiden Environmental, Social, and Governance (ESG) report for FY23-24, in alignment with the Global Reporting Initiative (GRI) framework. The report underwent independent limited assurance by Intertek and was submitted for the S&P Global Corporate Sustainability Assessment in September and the Carbon Disclosure Assessment in October.