Trident commissions new solar power plant in MP Capital Market

October 29, 2022

Category: HOME TEXTILES

Country: India

Capital Market Last Updated at October 27, 2022 08:31 IST

The textile company said it has completed a solar power project of 8.87 MWp at Budhni in Madhya Pradesh.

With this, it has commissioned both phases Phase 1 of 5.48 MWp and Phase II of 3.39 MWp solar power plants for captive use.

The power generated from this new solar power project shall be consumed captively in manufacturing facilities located at Budhni, Madhya Pradesh resulting in considerable savings for the company.

Headquartered in Punjab, Trident is vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India. The company operates in two major business segments: textiles and paper with its manufacturing facilities located in Punjab and Madhya Pradesh.

The company's consolidated net profit declined 37.5% to Rs 129.35 crore despite of 13.3% rise in net sales to Rs 1,679.90 crore in Q1 FY23 over Q1 FY22.

Shares of Trident fell 1.26% to Rs 35.40 on Tuesday, 25 October 2022. The stock market was shut on Wednesday, 26 October 2022, on account of Diwali.

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Courtesy: https://www.business-standard.com/article/news-cm/trident-commissions-new-solar-power-plant-in-mp-122102700117_1.html