Total Income at Rs 67.90 billion; registered a growth of 8% in FY24 on Y-o-Y basis.
Trident, the vertically integrated Textile (yarn, bath & bed linen) paper (wheat straw-based) and chemical manufacturer has reported financial results for the fourth quarter and year ended March 31, 2024.
In the fiscal year FY24, the Consolidated Income reached Rs 68.67 billion, exhibiting an 8 per cent growth from the previous fiscal year’s Rs 63.57 billion. Concurrently, Consolidated Earnings Before Income, Depreciation, Tax, and Amortisation (EBIDTA) for FY24 amounted to Rs 9.98 billion, slightly surpassing FY23’s Rs 9.71 billion. However, Consolidated Net Profit (PAT) for FY24 declined to Rs 3.50 billion compared to FY23’s Rs 4.42 billion. Notably, the net debt increased to Rs 15.34 crore by March 31, 2024, from Rs 10.22 billion recorded on March 31, 2023.
Commenting on the results, Deepak Nanda, Managing Director, Trident, said, “As we reflect on Trident’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 manufacturing prowess, as evidenced in increasingly better order book and volumes in the home textiles segment. Our investments this year of Rs 7.85 billion. 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.
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 & Linen division.
Going forward, we shall continue focusing on improving our volumes, value added products and ESG. With this foundation, Trident stands poised to continue its journey of sustainable growth and innovation in the ensuing periodâ€.