Trident revenue in Q3FY22 rises 51.4% yoy, PAT records double-digit growth too; Stock under pressure

Trident Limited, a vertically integrated Textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer announced on Tuesday its financial results for the quarter ended December 31, 2021.

Total Revenue of the company in Q3FY22 rose 51.4% yoy Rs19,611.2 million compared to Rs12,949.3 million in Q3FY21. EBIDTA for Q3FY22 stood at Rs4,063.4 million which translates into a 20.7% margin.

Profit after Tax for the Q3FY22 is Rs2091 million with a PAT margin of 10.7%. PAT rose 30.9% yoy from 1,597.6 million in Q3FY21. It however dropped 8.6% sequentially from Rs2,288 million from Q2FY22.

Net Debt increased in Q3FY22 to reach level of Rs14,848.9 million as compared to Rs10,453.9 million as on September 30, 2021; Net Debt to Equity ratio stood at 0.41x. Textile Segment Revenue stood at Rs17,059.3 million in Q3 FY22 compared to Rs11,077.7 million in Q3 FY21. EBIT for the segment increased to Rs2,870.7 million as compared to Rs1,445 million in Q3 FY21.

At around 10.20 am, Trident Ltd was trading at Rs61.40 per share down by Rs3.2 or 4.95% from its previous closing of Rs64.60 per share on the BSE.

Paper Segment Revenue stood at Rs2,519.5 million in Q3FY22 as compared to Rs1,824.1 million in Q3 FY21. EBIT for the segment during the period stands at INR 580.7 million as compared to Rs389.2 million in Q3FY21.

Trident Limited has announced capex worth 13,770 million last quarter for which the projects are under implementation stage with on-going soil testing/development work and discussions/ finalization of contracts for plant and machinery procurement are under way.

Rajinder Gupta, Chairman at Trident Group said: ͞The company has shown high resilience and displayed strong performance despite challenging environment. We will continue to create value and maintain Trident͛s excellence-centric mindset to achieve even stronger and better results in the coming years.”