Trident shares rally 13% after Q2 net profit jumps 93% to Rs 175 crore
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Trident shares rallied 13% after the company reported a 93.1% year-on-year rise in Q2 FY27 net profit to Rs 175.50 crore. Improved EBITDA and margins supported earnings growth, while the company announced a Rs 4,650-crore capacity expansion and modernisation programme.
Shares of Trident rallied as much as 13% to their day’s high of Rs 25.18 on the BSE on Tuesday after the company reported a net profit of Rs 175.50 crore for the second quarter of FY27, marking a 93.1% increase from Rs 90.9 crore posted in the same period last year.The company’s revenue from operations came in at Rs 1,719.50 crore for the quarter under review, down 4% from Rs 1,787 crore reported in the corresponding quarter of the previous financial year.
Trident's EBITDA, or earnings before interest, tax, depreciation and amortisation, climbed 46.5% to Rs 313.7 crore in Q2FY27 from Rs 214.1 crore in the corresponding quarter last year. The EBITDA margin also improved to 18% from 12%, registering an expansion of 600 basis points year-on-year.
On a sequential basis, profit attributable to owners grew 11.1% from Rs 158.09 crore in the June quarter. However, revenue from operations declined 3.8% quarter-on-quarter to Rs 1,719.50 crore from Rs 1,786.83 crore in Q1FY27. Total expenses fell 4.9% to Rs 1,509.73 crore from Rs 1,587.20 crore over the same period.
Among its business segments, Trident's yarn division reported revenue of Rs 1,019 crore in Q2FY27, up from Rs 923.64 crore in the year-ago quarter. Its segment result surged to Rs 191.19 crore from Rs 47.24 crore. The towel segment, however, saw revenue decline to Rs 570.75 crore from Rs 723.46 crore, while its segment result dropped to Rs 32.58 crore from Rs 78.23 crore.
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The bedsheets segment recorded revenue of Rs 311.36 crore, against Rs 261.22 crore in the corresponding quarter last year. Its segment result more than doubled to Rs 38.57 crore from Rs 18.34 crore. Meanwhile, revenue from the Paper and Chemicals segment increased to Rs 287.90 crore from Rs 246.89 crore, although its segment result declined to Rs 34.27 crore from Rs 43.05 crore.
Separately, Trident's board has granted in-principle approval for a capacity expansion and modernisation programme involving an investment of Rs 4,650 crore across its business segments.
As part of the plan, the company will add 99,840 spindles at its existing yarn manufacturing facility in Budhni, Madhya Pradesh. The project also includes upgrading 48,000 existing spindles into 70,176 new spindles for finer counts and replacing 960 old rotors with 2,400 new ones.
Trident also plans to establish a new yarn manufacturing facility in Dhar, Madhya Pradesh, with an installed capacity of 1,99,680 spindles. The company has already purchased 179.2 acres of leasehold land for the proposed facility at an approximate cost of Rs 106.09 crore.
The proposed expansion further covers the installation of 336 additional looms in the sheeting business and an increase of 28 tonnes per day (TPD) in paper-manufacturing capacity. The company also plans to establish a 80-megawatt hybrid renewable energy project, comprising 60 MW of wind power and 20 MW of solar power (AC).
Trident shares are down nearly 20% year-to-date and have declined more than 10% over three months.
Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
