Trident Ltd — Earnings Release 2020

Oct 15, 2020

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TRIDENT/CS/2020 October 15, 2020

The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra Kurla 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 Half Year ended September 30, 2020. 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

Digitally signed by RAMANDEEP RAMANDEEP KAUR KAUR Date: 2020.10.15 20:57:11 +05'30' (Ramandeep Kaur) Company Secretary ICSI Membership No.: F9160

Encl: As above

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15/10/2020

TL/2020/001647

Q2 FY21 Press Release

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Key Highlights:

• ➔ Highest Ever Capacity Utilization in Home Textile Segment

• ➔ 48% Jump in Bed Linen Segment Revenues Y-o-Y basis

• ➔ 400% growth in E-commerce segment in US market

• ➔ Prepayment of term loans of ~ INR 373 Crores in H1 FY21

Ludhiana, Oct 15, 2020 : Trident Limited, a vertically integrated Textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer announced its financial results for the quarter ended September 30, 2020.

Financial Highlights for Q2 FY21

					Figures in INR Crs	Figures in INR Crs
Particulars	Q2 FY21	Q1 FY21	Shift	Q2 FY20	Shift	H1 FY21
Total Income	1174.6	713.4	+64.7%	1325.6	-11.4%	1887.9
EBITDA	226.9	118.7	+91.2%	259.0	-12.4%	345.7
EBITDA %	19.3%	16.6%	+268bps	19.5%	-22bps	18.3%
Depreciation	83.1	82.4	0.8%	84.9	-2.1%	165.5
EBIT	143.8	36.3	+296.3%	174.1	-17.4%	180.1
Finance Cost	12.3	23.1	-46.7%	27.1	-54.6%	35.4
Profit Before Tax	131.5	13.2	+896.6%	147.0	-10.5%	144.7
Profit After Tax	100.2	10.1	+892.5%	137.1	-26.9%	110.3
EPS (INR)	0.20	0.02	--	0.27	--	0.22
Cash Profit	183.3	92.5	+98.2%	222.0	-17.4%	275.8

Figures in INR Crs

Particulars Net Worth Net Debt Net Debt/EBITDA Net Debt/Equity	30th Sep 2020	31st Mar 2020
	3144	2967
	948	1614
	1.4x	1.9x
	0.3x	0.5x

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Financial & Business Highlights:

• Net Revenue in Q2 FY21 stood at INR 1174.6 crores compared to INR 1325.6 crores in Q2 FY20

• EBIDTA for Q2 FY21 stood at INR 226.9 crores which translates into 19.3% margin

• Profit after tax for the Q2 FY21 stood at INR 100.2 crores

• Finance cost for Q2 FY21 reduced to INR 12.3 crores as compared to INR 27.1 Crores in Q2 FY20

• Net Debt reduced significantly as on Sep 30, 2020 to reach level of INR 947.6 Crores as compared to INR 1614.5 crores as on 31[st] March 2020 on account of company making prepayments of INR 373.2 crores of term loans; Net Debt to Equity ratio stood at 0.3x

• Textile Segment Revenue stood at INR 990.8 crores in Q2 FY21 compared to INR 1094.1 crores in Q2 FY20. EBIT for the segment for Q2 FY21 increased to INR 114.9 crores Y-o-Y as compared to INR 113.6 crores in Q2 FY20

• Paper Segment Revenue stood at INR 180.9 crores in Q2 FY21 compared to INR 227.9 crores in Q2 FY20. EBIT for the segment during the period reduced to INR 48.9 crores Y-o-Y as compared to INR 83.3 crores in Q2 FY20.

Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said:

�The company has shown high resilience and bounced back strongly with a good performance despite challenging circumstances

While overall economic environment continues to be uncertain due to Covid-19 pandemic, we remain cautiously optimistic about the future�

- ENDS –

Safe Harbour: This document may co�tai� �for�ard -looki�g state�e�ts� that i��ol�e k�o�� a�d u�k�o�� risks, u�certai�ties a�d other factors, �hich �ay 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.

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About Trident 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 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.com OR contact:

Abhinav Gupta/ Ankit Mahajan

Trident Limited Tel: +91 161 5039 999 Fax: +91 161 5039 900 Email: abhinavgupta@tridentindia.com, ankitmahajan@tridentindia.com,

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