Trident Ltd — Interim / Quarterly Report 2023

Nov 15, 2022

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TRIDENT/CS/2022 November 15, 2022

Na�onal Stock Exchange of India Limited

Exchange Plaza, Plot No. C/1, G Block Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: TRIDENT

BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code: 521064 |NCD: 960173

Sub: Revised In�ma�on under Regula�on 30 and other applicable provisions of SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015

Dear Sir/ Madam,

In con�nua�on of our earlier le�er dated November 12, 2022, we hereby enclose the revised details with respect to Expansion / Moderniza�on plan for Chemicals business of the Company:

S. No	Par�culars	Chemicals
1.	Exis�ng capacity	1,10,000 TPA
2.	Exis�ng capacity u�liza�on	97%
3.	Proposed capacity addi�on	1,05,000 TPA
4.	Period within which the proposed capacity is to be added	The commercial opera�on is expected to begin w.e.f. March 2024
5.	Investment required	INR 100 Crores
6.	Mode of fnancing	Debt and Equity
7.	Ra�onale	Leveraging Business Exper�se Capturing Business Synergies Increased Compe��ve Advantage Mee�ng Increased Demand

The earlier in�ma�on had inadvertently error in point no. 3 i.e. proposed capacity addi�on as 2,15,000 TPA whereas the correct figure was 1,05,000 TPA and a�er the proposed capacity addi�ons the enhanced capacity shall be 2,15,000 TPA.

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15/11/2022

TL/2022/027871

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Pursuant to above correc�on the same has been inculcated in the Press Release issued by the Company with respect to Financial Results for Quarter and Half Year ended on September 30, 2022.

This is for your informa�on & records please.

Thanking you, Yours faithfully, For Trident Limited

HARI Digitally signed by HARI KRISHAN KRISHAN Date: 2022.11.15 18:28:07 +05'30'

(Hari Krishan) Company Secretary Encl: As above

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15/11/2022

TL/2022/027871

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Q2 FY23/ H1 FY23 Press Release

Key Highlights:

• ➔ Total Income for Q2 FY23 is INR 14,239 million and for H1 FY23 is INR 30,956 million.

• ➔ EBITDA for Q2 FY23 at INR 1,477 million with margin at 10.4% and for H1 FY23 stood at INR 4,065 million with margin at 13.1%.

• ➔ Net Debt reduced by 42% amounting to INR 7,511 million as on 30[th] September 2022.

• ➔ The company has announced capex worth INR 8,930 million for capacity addition in Yarn, Bathlinen & Chemical business.

Ludhiana, November 12, 2022 : 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, 2022.

Financial Highlights for Q2 FY23/ H1 FY23

							Figures in INR Million	Figures in INR Million
Particulars	Q2FY23	Q2FY22	Y-o-Y %	Q1FY23	Q-o-Q %	H1 FY23	H1 FY22	Y-o-Y%
Total Income	14,239	16,727	(14.9%)	16,717	(14.8%)	30,956	31,525	(1.8%)
EBITDA	1,477	4,129	(64.2%)	2,588	(42.9%)	4,065	7,954	(48.9%)
EBITDA %	10.4%	24.7%	(1430 Bps)	15.5%	(510 Bps)	13.1%	25.2%	(1210 Bps)
Depreciation	775	867	(10.6%)	760	2.0%	1,535	1,741	(11.9%)
EBIT	703	3,262	(78.4%)	1,828	(61.5%)	2,531	6,212	(59.3%)
Finance Cost	196	199	(1.5%)	180	(8.9%)	377	449	(16.0%)
Profit Before Tax	506	3,063	(83.5%)	1,648	(69.3%)	2,154	5,764	(62.6%)
Profit After Tax	397	2,288	(82.6%)	1,238	(67.9%)	1,635	4,323	(62.2%)
EPS (INR)	0.07	0.46	(84.8%)	0.25	(72.0%)	0.32	0.87	(62.9%)
Cash Profit	1,171	3,155	(62.9%)	1,998	(41.4%)	3,169	6,064	(47.7%)

Figures in INR Million

Particulars	30th September 2022	31st March 2022
Net Worth	37,596	37,972
Net Debt	7,511	12,972
Net Debt/EBITDA	1.27x	0.97x
Net Debt/Equity	0.20x	0.34x

Net Debt/ EBITDA are annualized in nature

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Financial & Business Highlights:

• Total Income for Q2FY23 is INR 14,239 million and for H1FY23 is INR 30,956 million.

• EBITDA for Q2FY23 at INR 1,477 million with margin at 10.4% and for H1FY23 stood at INR 4,065 million with margin at 13.1%.

• Profit after tax for Q2FY23 reported at INR 397 million and for H1FY23 at INR 1,635 million.

• Net Debt stood at INR 7,511 million in H1FY23 vs. INR 12,972 million (Mar 2022), reduction of INR 5,461 million.

• Net Debt to Equity has also decreased to 0.20x in H1FY23.

• Textile Segment Revenue stood at INR 24,211 million in H1FY23 compared to INR 26,889 million in H1FY22. EBIT for the segment stood at INR 1,051 million in H1FY23.

• Paper & Chemicals Segment Revenue stood at INR 6,654 million in H1FY23 as compared to INR 4,510 million in H1FY22 with 47.5% growth. EBIT for the segment increased to INR 1,953 million in H1FY23 as compared to INR 1,205 million in H1FY22 with 62.1% growth.

Capacity Enhancement:

• Trident Limited has announced capex worth INR 8,930 million for capacity addition in Yarn, Bathlinen & Chemical business –

Particulars	Yarn	Bathlinen	Chemical
Proposed capacity addition	94,848 Spindles	42 Looms	1,05,000 TPA
Expected Commercial Operation	September 2023	June 2023	March 2024
Investment required	INR 5460 million	INR 2470 million	INR 1000 million
Mode of financing	Debt and Equity

• The company has earlier announced capex worth INR 13,770 million in 2021 for which the projects are under different implementation stage and expected to begin its commercial production by September 2023.

- 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.

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About Trident Limited:

Trident Limited is the flagship Company of Trident Group, a USD 3+ 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. Trident’s towels, yarns, bed sheets and paper businesses have earned global recognition and are delighting millions of customers across India and the world. Trident is one of the largest players in home textile 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 three major business segments: Textiles, Paper and Chemicals with its manufacturing facilities located in Punjab and Madhya Pradesh.

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

Mr. Avneesh Barua/ Mr. Rahul Sharma Trident Limited Tel: +91 161 5039 999 Fax: +91 161 5039 900 Email: corp.relations@tridentindia.com

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