Category: General
Country: India
Region: Asia
By Textilemagazine
22nd May, 2024.
Trident Limited has reported financial results for the year ended March 31, 2024. In FY23-24 the company invested additional INR 785 Cr. on Capex to complete the total investment of INR 1397 Cr. for completion of ongoing spinning, sheetings, towel projects, and additional capacity increase of Cogen Power Plant and Solar Power Plant. During the year, the company expanded the production capacity of Towel Segment by installing 42 Looms (7200 Ton/pa) and Yarn Segment by installing 1,89,696 spindles for fine count enhancement and Sheeting Segment by 10.8 Mn meters per year in process house and CSP.
Commenting on the results, Mr. Deepak Nanda, Managing Director, Trident Ltd, said, “As we reflect on Trident Limited’s Q4 and FY24 results, it’s evident that amidst challenging macroeconomic conditions, our company has showcased year-on-year growth. The transformation journey started in the last quarter of FY23 is continuing. Textiles saw price pressure due to subdued cotton prices, whereas Paper prices were under pressure due to heavy imports.
"We remain confident of Trident Limited manufacturing prowess, as evidenced in increasingly better order book and volumes in the home textiles segment. Our investments this year of INR 785 Cr. has added to our production capabilities which will start reflecting in numbers from the next year. We continue to focus on reducing Net Debt and strengthening the balance sheet continues. Despite the capex and loan towards buying cotton during the season, our Net Debt has not increased to that extent" -Mr. Deepak Nanda, Managing Director, Trident Ltd.
ESG is the need of the hour and company continues to focus on sustainable projects including renewables as well as reducing fossil fuel. Focusing significantly on the process control, Heading the company re-implemented the latest SAP version for its Bath and Linen division.
Going forward, we shall continue focusing on improving our volumes, value added products and ESG. With this foundation, Trident Limited stands poised to continue its journey of sustainable growth and innovation in the ensuing period”.
Business Performance:
Trident’s yarn business revenue for the year stood at INR 3262 Cr. in FY24. Home Textile | Bath and Bed Linen Standalone Revenue for the year stood at INR 3814 Cr. Total Capex made across Energy, including solar roof top amounting to around INR 204.86 Cr.
Trident Limited is the flagship company of Trident Group, an Indian business conglomerate and global player. Headquartered in Ludhiana, Punjab, Trident Limited is a vertically integrated textile (Yarn, Bath and Bed Linen) Paper (Wheat Straw-based) and Chemical manufacturer.
Trident’s yarns, bath and bedlinen and paper businesses have earned global recognition and are delighting millions of customers across India and the world. Trident is one of the largest players in home textiles in India.
Supplying national, captive, and retailer-owned brands; the organization is highly decorated with awards from its customers, vendors, and various government entities in recognition of advancing the highest standards in product quality, social responsibility, and environmental stewardship.
The company operates in three major business segments: Textile (Yarn, Bath and Bed Linen) Paper (Wheat Straw-based) and Chemical, with its manufacturing facilities in Punjab and Madhya Pradesh.
Courtesy: Indiantextilemagazine.in
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