Trident Ltd — Earnings Release 2018

Oct 15, 2018

TRIDENT/CS/2018 October 15, 2018

The Manager	The Manager
Listing Department	Listing Department
National Stock Exchange of India Limited	BSE Limited
Exchange Plaza, Plot No. C/1, G Block	PhirozeJeejeebhoy Towers
BandraKurla Complex, Bandra (E)	Dalal Street
Mumbai – 400 051	Mumbai – 400 001
Scrip Code:- TRIDENT	Scrip Code:- 521064

Dear Sir/ Madam

Sub: Submission of Press Release

Pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Press release issued by the Company with respect to Financial Results for the Quarter and Six Months ended on September 30, 2018. The same is also available on the website of the Company i.e. www.tridentindia.com.

We hope you will find the same in order.

Thanking you,

Yours sincerely,

For Trident Limited

(Ramandeep Kaur) Company Secretary ICSI Membership No.: F9160

Q2 & H1 & FY19 Press Release

Highest- Highest-Ever Volumes Ever VolumesEver Volumesin Home Textile in Home Textile in Home Textile drives double digit drives double digit Salesgrowth

• o Achieved Highest- Highest-Ever Quarterly Revenue Revenue Revenueof INR 1391.5crore, up 2 crore, up 24%Y-o-Y
• o Achieved Highest- Highest-Ever Quarterly EBITDA EBITDA EBITDAof INR 270.9crore, up crore, up 29%Y-o-Y
• o Achieved Highest- Highest-Ever Quarterly Quarterly PAT of INR PAT of INR 109.1crore, up crore, up crore, 114%Y-o-Y
• o Bed Linen & Bath Linen Linen & Bath Linen & Bath Linen volumegrew by 32.5% & 29.6% Y-o-Y respectively Y respectivelyY respectively
• o EPSstood at INR 2.14 stood at INR 2.14in Q2 FY19 in Q2 FY19FY19
• o Board Declared 2 Board Declared 2nd Interim Dividend of Interim Dividend of 6% on equity shares % on shares shares

New Delhi, October October15, 2018: Trident Limited, a vertically integrated Textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer announced its financial results for the quarter and half year ended September 30th, 2018.

				Figures in INR CroresINR Crores
Particulars	Q2 FY19	Q2 FY18	Shift	Q1 FY19	Shift	H1 FY19 FY19	H1 FY18
Net RevenueRevenue	1391.5	1120.5	24.2%	1131.2	23.0%	2522.7	2286.3
Gross Profit	743.4	538.4	38.1%	616.3	20.6%	1359.7	1152.0
Gross Profit %Profit %	53.4%	48.0%	+540 bps	54.5%	-110 bps	53.9%	50.4%
Adj. EBITDA	316.9	173.4	82.7%	237.1	33.7%	553.2	403.1
Adj. EBITDA %EBITDA %	22.8%	15.5%	+730 bps	21.0%	+180 bpsbps+180 bps	21.9%	17.6%
Other Income*	-46.0	35.7	-	-33.1	-	-78.4	65.5
EBITDA	270.9	209.1	29.5%	204.0	32.8%	474.9	468.5
EBITDA %	19.5%	18.7%	+80 bps	18.0%	+150 bps	18.8%	20.5%
Depreciation	91.7	102.2	(10.3%)	94.4	(2.8%)	186.1	204.5
EBIT	179.2	106.9	67.6%	109.6	63.5%	288.8	264.0
Finance Cost	26.0	31.9	(18.4%)	28.0	(7.1%)	54.0	65.2
Profit Before Tax	153.2	75.1	104.1%	81.6	87.7%	234.8	198.8
Profit After Tax Tax	109.1	50.9	114.4%	59.2	84.3%	168.4	139.8
EPS (INR)	2.14	1.0	1.14	1.16	0.98	3.3	2.74
Cash Profit#	211.5	161.1	31.12%	158.2	33.7%	369.6	360.9

Financial Highlights for Q2 & H1 Financial H1FY19

Net Revenue = Revenue from Operations - Excise duty on sale of goods

*Other Income includes Forex Gain/Loss (Including MTM)

#Cash Profit = PBDT – Current Tax

Particulars	30thSeptember 20182018September 2018	30thJune 2018June 2018June 2018	31stMarch 2018March 2018March 2018
Net Worth	3029	2971	2909
Gross Debt	2527	2864	2798
Net Debt	2000	2381	2621
Net Debt / Adj. EBITDA	1.8x	2.5x	3.2x
Net Debt / Equity	0.7x	0.8x	0.9x

Financial & &Business Highlights Business HighlightsBusiness Highlights:

• Net Revenue from operations stood at INR 1391.5 crores in Q2 FY19 as against INR 1120.5 crores in Q2 FY 18 registering 24.2% growth Y-o-Y.
  • Home Textile Textile -Bed Linen Linen salesgrew by 44% and Bath Linen grew and salesgrew by 3 grew 30%Year on Year Year on in Q2 FY 19 as 19 as compare comparedto same period last year to year;
  • Branding, Distribution and expanding team closer to market in US has helped us in improving the volumes and will support us in sustaining the growth in the forthcoming quarters also.
• Adj. EBITDA improved by 82.7% Y-o-Y to INR 316.9 crores in Q2 FY19 compared to INR 173.4 crores in Q2 FY18. Adj. EBITDA Margin EBITDA stood at22.8% in Q2 FY19 in Q2 FY19 FY19& 21.9% in H1 FY 19 & 21.9% in H1 19.
• Finance Costs stood at INR 26 crores in Q2 FY 19, declined by 18.4% Y-o-Y compared to same period last year.
• Profit after Tax stood at INR 109.1 Profit after stood at 109.1croresin Q2 FY 19 in Q2 FY 19, up 114.4% Y-o-Y and 84.3% Q-o-Q.
  • o EPS for H1 FY 19 stood at INR 3.3 EPS for 19 stood at
• Gross Debt stands at INR 2527 crores as on 30th September 2018 (INR 2798 crores as on 31st March 2018); Net Debt/Equity of 0.7x (0.9x as on 31 Net Debt/Equity of 0.7x (0.9x as on 31st March 2018) March 2018)2018)
• Net Cash flow from Operating activities INR 761.8 crores in H1 FY 19 rores in H1
• Textile Textile - Segment Revenue grew by 24.6% Y-o-Y at INR 1143.3 crores in Q2 FY19 (INR 917.2 crores in Q2 FY 18) & EBIT grew by 164% Y-o-Y to INR 100.2 crores in Q2 FY19 compared to INR 37.9 crores in Q2 FY18.
• Paper & Chemicals & Chemicals - Segment Revenue stood at INR 248.4 crores in Q2 FY19 compared to INR 203.6 crores in the last fiscal year registering a growth of 22% & EBIT grew by 22% to INR 92.8 crores in Q2 FY19 compared to INR 76.4 crores in Q2 FY18.

Commenting on the performance, Mr. Rajinder Gupta Commenting on performance, Mr. Rajinder GuptaGupta, Chairman ChairmanChairmanat Trident at Trident at Groupsaid:

"We are pleased with the financial and operational performance by achieving highest ever revenue and profitability in a quarter. We remain optimistic to achieve the guidance on revenue growth keeping our margins resilient in the coming quarters.

Trident will further consolidate the business by leveraging the existing customers and adding new customers to its portfolio"

-ENDS –

Safe Harbour: This document may contain 'forward -looking statements' that involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company's business, its competitive environment and political, economic, legal and social conditions. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

About Trident Limited: Limited:

Trident Limited is the flagship Company of Trident Group, a USD 1 billion Indian business conglomerate and a global player. Headquartered in Ludhiana, Punjab, Trident Limited is vertically integrated textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer and is one of the largest players in Home Textile Space 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 has received following prestigious accolades from TEXPROCIL last year:

• Gold Trophy for Second Highest Global Exports (Overall)
• Gold Plaque for Highest Exports of 'Bed Linen / Bed Sheets / Quilts' (Category-I)
• Silver Trophy for Second Highest Exports of 'Terry Towels' (Category-III)

The Company operates in two major business segments: Textiles and Paper with its manufacturing facilities located in Punjab and Madhya Pradesh.

For more information, please visit www.tridentindia.comOR contact: OR contact:

Pawan Jain / Vipul Garg Garg Trident Limited Limited Tel: +91 161 5039 999 Fax: +91 161 5039 900 Email: pawanjain@tridentindia.com, vipulgarg@tridentindia.com