Trident Ltd’s profit up 145 percent in FY22
Company's earnings grew 37 percent in the fourth quarter, EBITDA up 40 percent and profit before tax by 143 percent
City Air News
Jun 1, 2022 03:41
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Trident Limited, a vertically integrated Textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based manufacturer announced its financial results for the quarter and year ended March 31, 2022.
Key Highlights:
• Highest ever annual revenue achieved in FY22 amounting to INR 69,415 million
• Highest ever EBITDA of INR 15,100 million, with EBITDA Margin of 21.8% in FY22
• Profit before tax increased by 145% in FY22
• Net debt reduced by 9% Y-o-Y in FY22
• Consistent performance in Q4FY22 as revenue grow by 37% Y-o-Y, EBITDA by 40% Y-o-Y and PBT by 143% Y-o-Y in Q4FY22
Financial & Business Highlights:
· Net Revenue in FY22 increased by 53% y-o-y to INR 69,415 million as compared to INR 45,353 million in FY21
· EBIDTA for FY22 stood at INR 15,100 million, increased by 83% y-o-y which translates into 21.8 % EBITDA margin
· Profit after tax for FY22 increased by 136% y-o-y to INR 8,150 million with PAT margin of 11.7 %
· Net Debt to EBITDA has decreased significantly to 0.86x showcasing company’s dedication to improve its obligations. Net Debt to Equity has also decreased to 0.34 x in FY22.
· Textile Segment Revenue stood at INR 59,395 million in FY22 compared to INR 38,161 million in FY21. EBIT for the segment increased to INR 10,944 million in FY22 as compared to INR 3,925 million in FY21 with 179% growth.
· Paper & Chemicals Segment Revenue stood at INR 9,804 million in FY22 as compared to INR 7,041 million in FY21. EBIT for the segment for FY22 increased to INR 2,380 million in FY22 as compared to INR 1,823 million in FY21 with 31% growth.
Recent Expansion: Trident Limited has announced capex worth 13,770 million for which the projects are under different implementation stage.
Commenting on the performance, Rajinder Gupta, Chairman at Trident Group said: “Despite the high commodities prices, inflationary issues, and supply chain constraints, we delivered resilient performance for our stakeholders during the year. We remain optimistic about the future growth of the industry and hope to maintain likewise momentum going forward.”
