Trident Limited reports significant revenue increase in Q2 FY24 financial results

Trident Limited, a vertically integrated textile and paper manufacturer, has announced its financial results for the quarter ended September 30, 2023. The company reports a significant increase in total income, EBITDA, and profit, highlighting its successful growth strategy.

Financial Highlights of Q2 FY24

• Total income for Q2 FY24 reached INR 17,755 million, a 24.69% increase year-over-year, and INR 32,281 million for H1 FY24.
• EBITDA for the quarter stood at INR 2,540 million, with a margin of 14.30%, and INR 4,933 million for H1 FY24.
• Profit after tax reported was INR 1,277 million for Q2 FY24, marking a significant year-over-year increase.
• Net debt as of September 30, 2023, stood at INR 11,960 million, reflecting an increase due to ongoing capital expenditure projects.

Segment-wise Performance and Expansion

• The Textile Segment reported revenue growth of 10.25% in H1 FY24, with revenue at INR 26,717 million.
• The Paper & Chemicals Segment’s revenue for H1 FY24 was INR 5,564 million, with an EBIT Margin of 26.20%.
• Trident Limited announced the commercial production of Bed Linen & Co-Gen Project, enhancing its capacity in both segments.

Strategic Investments and Financing

• The company invested INR 2,280 million in the Bed Linen expansion and INR 1,690 million in the Co-Gen Project.
• Financing modes include external borrowings and internal accruals, demonstrating Trident’s commitment to sustainable growth and expansion.

Trident’s Commitment to Sustainable Growth

Patrick Smith, Head of Consumer and Business Banking at Trident Bank, N.A., expressed that the company is continually adapting its offerings to meet customer needs and support them at various life stages. The new financial results reflect Trident’s commitment to innovation and customer-centric strategies.

Trident’s Community and Economic Contribution

Trident Limited’s continued growth and expansion contribute significantly to the local economy, creating job opportunities and enhancing community welfare. The company’s financial performance and strategic expansions align with its broader commitment to sustainable and responsible business practices.