Trident Limited, the renowned manufacturer of Yarn Bath Linen Bed Linen Wheat Straw-based Paper Chemicals and Captive Power, posted its consolidated quarterly results on Friday. The company managed Net Sales to come at Rs 1,691.59 crore in September 2021, a 44.09% increase from Rs. 1,173.98 crore in September 2020.
Quarterly Net Profit stood at Rs. 234.59 crore in September 2021, a 121.96% rise from Rs. 105.69 crore in September 2020.
EBITDA stood at Rs. 420.65 crore for the quarter ended, up 79.94% from Rs. 233.77 crore in the corresponding period, a year ago.
Trident Earning Per Share stood at Rs. 0.47 in September 2021, whereas for the same quarter, it came in at Rs. 0.21.
In September, CRISIL Ratings revised its rating on the long-term bank facilities of Trident Ltd to ‘CRISIL AA/Stable from ‘CRISIL AA-/Positive’. The rating on the short-term facilities and Commercial Paper was restated to ‘CRISIL A1+’.
Trident’s excellent financial risk profile and sustained good commercial performance are in the rating action.
Trident’s diverse revenue profile, which includes a leading market position in the home textiles area and a well-established presence in WPP, excellent operational efficiency driven by integrated operations, and a low financial risk profile, is reflected in the grade.
Exposure to cotton price volatility and changes in foreign currency (forex) rates, working capital-intensive operations, and sensitivity to a slowdown in the end-user market and competition in the home textiles category all mitigate these advantages.
CRISIL Ratings has joined the business and financial risk profiles of Trident and its two wholly-owned subsidiaries.
Following the revision in the ratings, Trident stock has gained upward momentum. On 20th October, touched the 52-week-high of Rs 43.35.
After the release of the quarterly report, the stock is trading at a gain of almost 5% at Rs 40.55. The shares of Trident opened at Rs 40.55.