Trident Ltd

About

Trident Limited, the flagship company of the Trident Group, is a leading manufacturer of yarn, Bath Linen, Bed Linen and wheat straw-based paper, Chemicals and Captive Power. Currently, the company has manufacturing facilities in Barnala (Punjab) and Budhni (Madhya Pradesh). [1]

Key Points

Products
Yarn (26% of Revenues): 100% cotton combed yarn, Slub yarn, Open-End yarn, Blended yarn, etc.

Home Textiles (54% of Revenues): It includes Bath and Bed linen. Some of the products are Comforters, Solid/ Printed Sheets, Decorative pillows, etc.

Paper (20% of Revenues): Includes Branded copiers, Maplitho paper, Bible and offset printing paper.

Chemicals: North India’s largest commercial and battery-grade sulphuric acid manufacturer. [1] [2]

See full details
  • Market Cap 12,332 Cr.
  • Current Price 24.2
  • High / Low 26.4 / 6.00
  • Stock P/E 23.8
  • Book Value 6.51
  • Dividend Yield 1.49 %
  • ROCE 10.0 %
  • ROE 10.5 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 49.32%

Cons

  • Stock is trading at 3.72 times its book value
  • The company has delivered a poor sales growth of 4.28% over past five years.
  • Company has a low return on equity of 11.57% for last 3 years.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Textiles Industry: Textiles - Products

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,392 1,291 1,405 1,305 1,322 1,082 990 708 1,171 1,290 1,350 1,477
1,133 1,024 1,148 1,009 1,067 938 845 595 948 1,052 1,114 1,097
Operating Profit 259 267 257 296 255 144 145 113 224 238 236 380
OPM % 19% 21% 18% 23% 19% 13% 15% 16% 19% 18% 17% 26%
Other Income 11 15 11 8 4 10 7 5 3 62 -28 3
Interest 25 28 32 36 27 23 28 23 12 13 23 25
Depreciation 92 89 89 85 85 82 82 82 83 83 88 87
Profit before tax 153 165 147 183 147 48 43 13 132 204 96 270
Tax % 29% 32% 37% 33% 7% 13% 7% 23% 24% 22% 22% 25%
Net Profit 108 111 93 123 137 42 40 10 100 160 76 204
EPS in Rs 0.21 0.22 0.18 0.24 0.27 0.08 0.08 0.02 0.20 0.31 0.15 0.40

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,792 2,509 2,720 3,318 3,841 3,735 3,665 4,617 4,566 5,220 4,699 4,519 5,288
1,438 2,111 2,420 2,763 3,109 3,074 2,935 3,732 3,714 4,242 3,858 3,705 4,211
Operating Profit 354 398 300 555 732 661 730 886 852 977 841 814 1,077
OPM % 20% 16% 11% 17% 19% 18% 20% 19% 19% 19% 18% 18% 20%
Other Income 23 16 20 22 12 34 33 106 62 46 24 40 40
Interest 110 129 172 235 210 206 145 141 118 112 111 72 74
Depreciation 174 195 208 261 268 321 337 412 404 364 333 336 341
Profit before tax 93 90 -59 81 265 168 282 438 392 547 421 445 702
Tax % 39% 26% 26% 39% 26% 30% 14% 23% 32% 32% 19% 22%
Net Profit 56 67 -44 49 197 118 242 337 266 371 342 346 539
EPS in Rs 0.25 0.30 -0.14 0.16 0.63 0.23 0.48 0.66 0.52 0.73 0.67 0.68 1.06
Dividend Payout % 0% 40% 0% 0% 5% 26% 19% 23% 29% 41% 54% 53%
Compounded Sales Growth
10 Years:6%
5 Years:4%
3 Years:0%
TTM:29%
Compounded Profit Growth
10 Years:18%
5 Years:6%
3 Years:8%
TTM:127%
Stock Price CAGR
10 Years:35%
5 Years:35%
3 Years:58%
1 Year:261%
Return on Equity
10 Years:11%
5 Years:11%
3 Years:12%
Last Year:10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
222 222 306 311 311 509 509 510 510 510 510 510
Reserves 281 309 343 395 577 947 1,906 2,215 2,184 2,422 2,457 2,807
Borrowings 1,711 1,918 2,284 2,240 1,862 2,580 3,503 2,849 2,798 2,436 1,991 1,562
249 377 335 341 434 468 588 576 638 736 761 876
Total Liabilities 2,462 2,827 3,267 3,287 3,185 4,504 6,506 6,150 6,129 6,103 5,718 5,754
1,542 1,593 2,148 1,968 1,796 2,864 4,693 4,344 3,902 3,716 3,681 3,790
CWIP 176 63 6 28 36 222 62 123 177 132 145 64
Investments 36 45 56 64 119 31 52 75 84 160 79 4
709 1,126 1,057 1,226 1,234 1,387 1,699 1,608 1,967 2,095 1,813 1,896
Total Assets 2,462 2,827 3,267 3,287 3,185 4,504 6,506 6,150 6,129 6,103 5,718 5,754

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
117 75 416 380 747 544 533 1,000 476 653 1,209 499
-154 -172 -615 -100 -174 -114 -1,199 -168 -188 -42 -34 -149
43 77 211 -285 -574 -432 667 -808 -268 -650 -867 -570
Net Cash Flow 6 -20 12 -5 -1 -2 1 23 20 -38 309 -220

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 19 29 26 26 25 20 26 30 38 46 22 37
Inventory Days 161 173 117 137 114 141 190 126 145 150 155 182
Days Payable 54 44 34 29 39 1 46 28 27 27 34 53
Cash Conversion Cycle 126 158 108 134 100 161 169 128 156 170 143 165
Working Capital Days 102 109 89 93 74 87 116 82 108 112 76 93
ROCE % 9% 9% 4% 11% 17% 11% 9% 10% 9% 12% 10% 10%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
68.45 70.77 70.77 71.06 71.06 71.06 71.06 71.07 71.84 73.02 73.02 73.02
1.35 1.45 1.80 2.09 2.25 2.17 2.05 1.68 1.60 1.61 1.68 1.60
2.08 0.39 0.24 0.22 0.17 0.08 0.05 0.06 0.02 0.01 0.02 0.01
0.00 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92
28.12 26.47 26.26 25.70 25.60 25.77 25.91 26.27 25.61 22.48 22.40 22.48
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.96 1.96 1.96

Documents