Trident Ltd — Investor Presentation 2023

Nov 18, 2023

TRIDENT/CS/2023 November 18, 2023

==> picture [524 x 113] intentionally omitted <==

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

Sub: Earnings’ Presenta�on

Dear Sir/ Madam,

In compliance of SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015, please find a�ached herewith copy of Earnings’ Presenta�on with respect to the performance of the Company for the Quarter and Half Year ended September 30, 2023.

The same is also available on the website of the Company i.e. www.triden�ndia.com

Date and �me of occurrence of event: November 18, 2023 | 17:42 hrs IST

Thanking you For Trident Limited

MATTA ARAVIND KUMAR Digitally signed by MATTA ARAVIND KUMAR DN: c=IN, postalCode=520001, st=ANDHRA PRADESH, street=KRISHNA, l=KRISHNA, o=Personal, serialNumber=0d1902fec4816d6c6383a8465faa915e4ce73e9f6aa6a29dc213f3f2022a0b33, pseudonym=a6d5342ba0644c2ebae0ec4a97a098ec, 2.5.4.20=dca1cd9f837af755c4beb695043838e594c3c1ee3bcc5f6a7441fec41f7e9619, email=ARAVINDKM.ACS@GMAIL.COM, cn=MATTA ARAVIND KUMAR Date: 2023.11.18 18:41:53 +05'30' [Ma�a Aravind Kumar] Company Secretary

Encl: As above

Disclaimer :- The details of the authorised signatories are uploaded on the official website of the Company. You may authenticate the authority of the signatory before relying upon the contents of this communication by visiting https://www.tridentindia.com/authority-matrix/ or may write to us on corp@tridentindia.com.

==> picture [525 x 49] intentionally omitted <==

18/11/2023

TL/2023/041492

==> picture [494 x 512] intentionally omitted <==

==> picture [140 x 36] intentionally omitted <==

Trident Limited

Yarn | Towel |Bedsheets I Paper

EARNINGS PRESENTATION Q2FY24/ H1FY24

==> picture [5 x 6] intentionally omitted <==

Safe Harbour

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

This presentation has been prepared by Trident Limited (the “Company”) for general information purposes only, without regard to any specific objectives, suitability, financial situations and needs of any particular person and does not constitute any recommendation or form part of any offer or invitation, directly or indirectly, in any manner, or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. This presentation does not solicit any action based on the material contained herein. Nothing in this presentation is intended by the Company to be construed as legal, accounting or tax advice.

This presentation has been prepared by the Company based upon information available in the public domain. This presentation has not been approved and will not or may not be reviewed or approved by any statutory or regulatory authority in India or by any Stock Exchange in India. This presentation may include statements which may constitute forward-looking statements. The actual results could differ materially from those projected in any such forward-looking statements because of various factors. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise.

This presentation contains certain forward-looking statements relating to the business, financial performance, strategy and results of the Company and/ or the industry in which it operates. Forward-looking statements are statements concerning future circumstances and results, and any other statements that are not historical facts, sometimes identified by the words including, without limitation "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, including those cited from third party sources, contained in this presentation are based on numerous assumptions and are uncertain and subject to risks. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation and are not guarantees of future performance. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward- looking statements are based. Given these uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements.

The information contained in these materials has not been independently verified. None of the Company, its directors, promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this presentation or its contents or otherwise in connection with this presentation, and makes no representation or warranty, express or implied, for the contents of this presentation including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. Past performance is not a guide for future performance. The information contained in this presentation is current, and if not stated otherwise, made as of the date of this presentation. The Company undertakes no obligation to update or revise any information in this presentation as a result of new information, future events or otherwise. Any person/ party intending to provide finance/ invest in the shares/ businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision.

This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law in India.

This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. Neither this document nor any part or copy of it may be distributed, directly or indirectly, in the United States. The distribution of this document in certain jurisdictions may be restricted by law and persons in to whose possession this presentation comes should inform themselves about and observe any such restrictions. By reviewing this presentation, you agree to be bound by the foregoing limitations. You further represent and agree that you are located outside the USA, and you are permitted under the laws of your jurisdiction to receive this presentation.

This presentation is not an offer to sell or a solicitation of any offer to buy the securities of the Company in the United States or in any other jurisdiction where such offer or sale would be unlawful. Securities may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, in to or within the United States absent registration under the Securities Act, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended.

2

Earnings Presentation Q2 FY24

Index

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [292 x 452] intentionally omitted <==

INDUSTRY OVERVIEW

SUMMARY OF FINANCIAL STATEMENTS

WAY FORWARD

COMPANY OVERVIEW

QUARTERLY & OPERATIONAL OVERVIEW

COMMITTED TO ESG & WOMEN EMPOWERMENT

3

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [312 x 452] intentionally omitted <==

COMPANY OVERVIEW

4

Earnings Presentation Q2 FY24

Trident’s – A distinctive Entity

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Leading Integrated home textile manufacturers A with 30+ year track record

B

World’s Largest wheat straw-based paper manufacturer

#1 in North India for Branded Copier segment

150+ Countries

C

World class Infrastructure & Technology

D

Globally Best in class Business Partners

66% Exports

E

Robust Financials and Young & Energetic Workforce

5

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

Trident’s Transformation Journey

==> picture [960 x 5] intentionally omitted <==

==> picture [57 x 75] intentionally omitted <==

----- Start of picture text -----


----- End of picture text -----

Going Forward

Make Trident a National Brand

• E-commerce Website

• Retail Outlets

==> picture [52 x 47] intentionally omitted <==

• Social Media Presence

Started as a Commodity Player

• Diversified products

==> picture [31 x 26] intentionally omitted <==

----- Start of picture text -----


----- End of picture text -----

• Digital Trident – Completing Industry 4.0 Journey

==> picture [774 x 307] intentionally omitted <==

----- Start of picture text -----

•
Inception: Started as a yarn Transition & 2010- E-sourcing
 •
manufacturer in 1990 with Diversification Phase 2020
just 17k spindles •
Entered Paper, Chemical & •
•
Forayed into Terry Towel in
 Energy segment
 1998-99
-  Enhanced capacity expansion in Yarn and Terry
1990
towel
2000
Value Addition &
-
2000
Consolidation Phase
2010
 Horizontal diversification into
segments such as Bed Linen
 Strengthened presence in E-commerce and domestic market
Secured 10 patents

----- End of picture text -----

• E-sourcing

• Real time performance monitoring

• AI enabled Projects

• Digitalization of products

• • Virtual showrooms 20202025

6

Earnings Presentation Q2 FY24

Awards & Reco nition g

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [155 x 118] intentionally omitted <==

==> picture [154 x 118] intentionally omitted <==

==> picture [285 x 227] intentionally omitted <==

==> picture [155 x 117] intentionally omitted <==

==> picture [155 x 118] intentionally omitted <==

==> picture [163 x 169] intentionally omitted <==

==> picture [213 x 348] intentionally omitted <==

7

Earnings Presentation Q2 FY24

Creating differentiation across brands & products

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [727 x 336] intentionally omitted <==

----- Start of picture text -----

Domestic home textile brands Domestic home textile brands International home textile brands International home textile brands
Bed Bed
Bath
Bath
----- End of picture text -----

Trident’s home textile brands are across a range of luxury, premium, essentials, exclusive and gifting products

8

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Earnings Presentation Q2 FY24 Earnings Presentation Q1 FY24

9

Snapshot Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [960 x 122] intentionally omitted <==

----- Start of picture text -----

Total Income EBITDA Margin PBT Margin Free Cashflow
INR 17,755 Mn 14.30% 7.41% INR 403 Mn
----- End of picture text -----

Capacity Utilization

Revenue Segment

Q2 FY23 Q2 FY24

==> picture [303 x 209] intentionally omitted <==

----- Start of picture text -----

86% 87%
71%
64%
57%
51% 50%
44%
Yarn Towel Bedsheets Paper
----- End of picture text -----

==> picture [56 x 13] intentionally omitted <==

----- Start of picture text -----

Q2 FY23
----- End of picture text -----

==> picture [56 x 13] intentionally omitted <==

----- Start of picture text -----

Q2 FY24
----- End of picture text -----

==> picture [412 x 178] intentionally omitted <==

----- Start of picture text -----

17%
24%
52%
57%
27%
24%
Bed & Bath Linen Yarn Paper Bed & Bath Linen Yarn Paper
----- End of picture text -----

10

Earnings Presentation Q2 FY24

Shareholdin and Dividend Pa out g y

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [487 x 422] intentionally omitted <==

----- Start of picture text -----

Key Market Statistics (30 [th] Sep 2023)
(INR)
BSE Ticker 521064
NSE Ticker Trident
Bloomberg code TRID:IN
Reuters TRIE.NS
Market Price 37.65
Market Cap (in million) 191,864
Outstanding shares (in million) 5096
Face value per share 1
52 week low/high 25.10/43.75
Stock price movement
53.4 53.7
38.7 36.5 34.3 33.2 37.7
28.0 28.0
16.4
Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
----- End of picture text -----

Shareholding Pattern (30[th] Sep 2023)

==> picture [328 x 104] intentionally omitted <==

----- Start of picture text -----

Promoters
25.56%
1.25% Non-Promoters, Non-Public
73.19% Public
----- End of picture text -----

==> picture [386 x 25] intentionally omitted <==

----- Start of picture text -----

Dividend
----- End of picture text -----

==> picture [386 x 180] intentionally omitted <==

----- Start of picture text -----

0.8 65% 70%
0.7 53% 60%
0.6
43% 50%
50% 42%
0.5 35%
40%
0.4 23%
30%
0.3
20%
0.2
0.1 10%
0 0%
FY18 FY19 FY20 FY21 FY22 FY23 FY24
Dividend Dividend Payout Ratio
0.15 0.36 0.36 0.36 0.36 0.36 0.36
----- End of picture text -----

11

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

Competitive Advantage

==> picture [960 x 5] intentionally omitted <==

==> picture [47 x 39] intentionally omitted <==

Competitive cost of production

• Competitive labor, power and raw material cost

• Access to advanced technology under textile upgradation fund

Textiles: A dominant industry

• Employs 45 million people across the value chain

• Strong government support to industry

Favorable Government Policies

• Focus on ‘Make in India’

• Export enhancement

• Scheme of setup of Mega Textile Parks

Cotton quality and availability

• Largest producer of cotton

• Surplus available for export

India geography of choice for Home Textiles

Backward Integration with yarn

• Lower variance in profitability

• ▪ Hedge against raw material price fluctuations

• Maintenance of high-quality standards

• ▪ Traceability of origin

• Consistent delivery of products

==> picture [45 x 38] intentionally omitted <==

Qualified and skilled manpower

• Large, young and talented workforce

• Competitive though increasing cost of labor

==> picture [78 x 50] intentionally omitted <==

Global friendly environment

• Stable democracy and comfort with global languages

• Evolving practices in line with MNCs

==> picture [47 x 54] intentionally omitted <==

12

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [312 x 452] intentionally omitted <==

INDUSTRY OVERVIEW

13

Earnings Presentation Q2 FY24

Global Industry Overview

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

In 2021, the global textile and apparel trade was US$ 871 bn. having grown at approx. 3% CAGR since 2017. It is expected to reach US$ 1.2 trillion by 2030 growing at a CAGR of 4%.

==> picture [573 x 390] intentionally omitted <==

----- Start of picture text -----

1,300 1,200 1,200
80
1,000
1,100
85 1,000
871
75
839
900 789 70
71 8% 800
70
50 60 7%
51
700 50
715
600
575
500 493 57%
482
455
400
300
200
148 150 152 17% 175
200
100
52 52 58 7% 65 75
34 34 37 4% 40 45
2017 2019 2021 2025 (P) 2030 (P)
(100) -
Fiber Yarn Fabric Apparel Home Textiles Other Total
----- End of picture text -----

Data Source: UN Comtrade and Wazir Analysis

14

Earnings Presentation Q2 FY24

India’s Domestic Industry Overview

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [100 x 100] intentionally omitted <==

India’s domestic textile & apparel has grown from US$ 50 bn in 201011 to US$ 110 bn in 2022, registering a growth of 7%.

The market is further expected to grow at 10% CAGR from 2021-22 to reach US$ 250 bn. by 2030-31.

==> picture [533 x 424] intentionally omitted <==

----- Start of picture text -----

300 250 250
250
16 200
165
54
200
150
125 11
150
110
106 34
9 100
100 8 8 24
20 22 180
50
120 50
50 4 92
11 78 80
35
- -
2011 2020 2022 2023 (E) 2026 (P) 2031 (P)
Apparel Technical Textiles Home Textiles Total
----- End of picture text -----

Data Source: Wazir Analysis

15

Earnings Presentation Q2 FY24

INDIA’s share in US Market

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

US Imports of Cotton Sheets

	0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%	2018 2019 2020 2021 2022 13% 12% 14% 11% 12% 17% 19% 20% 20% 24% 21% 19% 14% 12% 14% 49% 50% 52% 57% 50% India China Pakistan ROW	2018 2019 2020 2021 2022 13% 12% 14% 11% 12% 17% 19% 20% 20% 24% 21% 19% 14% 12% 14% 49% 50% 52% 57% 50% India China Pakistan ROW	2018 2019 2020 2021 2022 13% 12% 14% 11% 12% 17% 19% 20% 20% 24% 21% 19% 14% 12% 14% 49% 50% 52% 57% 50% India China Pakistan ROW	2018 2019 2020 2021 2022 13% 12% 14% 11% 12% 17% 19% 20% 20% 24% 21% 19% 14% 12% 14% 49% 50% 52% 57% 50% India China Pakistan ROW	2018 2019 2020 2021 2022 13% 12% 14% 11% 12% 17% 19% 20% 20% 24% 21% 19% 14% 12% 14% 49% 50% 52% 57% 50% India China Pakistan ROW
		2018	2019	2020	2021	2022
	ROW	13%	12%	14%	11%	12%
	Pakistan	17%	19%	20%	20%	24%
	China	21%	19%	14%	12%	14%
	India	49%	50%	52%	57%	50%

US Imports of Terry Towels

Y-o-Y comparison on US Cotton Sheets Imports for Jan-Sep

	India China Pakistan ROW 2020 50% 15% 21% 14% 2021 58% 12% 19% 11% 2022 50% 14% 24% 12% 2023 58% 11% 21% 10% 2020 2021 2022 2023

Y-o-Y comparison on US Terry Towel Imports for Jan-Sep

	0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%	2018 2019 2020 2021 2022	2018 2019 2020 2021 2022	2018 2019 2020 2021 2022	2018 2019 2020 2021 2022	2018 2019 2020 2021 2022	2018 2019 2020 2021 2022
		2018	2019	2020	2021	2022
	ROW	16%	16%	16%	16%	18%
	Pakistan	20%	21%	21%	21%	22%
	China	25%	24%	21%	19%	19%
	India	39%	39%	42%	44%	41%

	India China Pakistan ROW 2020 43% 21% 21% 15% 2021 44% 19% 21% 16% 2022 41% 19% 22% 18% 2023 45% 18% 22% 15% 2020 2021 2022 2023	India China Pakistan ROW 2020 43% 21% 21% 15% 2021 44% 19% 21% 16% 2022 41% 19% 22% 18% 2023 45% 18% 22% 15% 2020 2021 2022 2023	India China Pakistan ROW 2020 43% 21% 21% 15% 2021 44% 19% 21% 16% 2022 41% 19% 22% 18% 2023 45% 18% 22% 15% 2020 2021 2022 2023	India China Pakistan ROW 2020 43% 21% 21% 15% 2021 44% 19% 21% 16% 2022 41% 19% 22% 18% 2023 45% 18% 22% 15% 2020 2021 2022 2023	India China Pakistan ROW 2020 43% 21% 21% 15% 2021 44% 19% 21% 16% 2022 41% 19% 22% 18% 2023 45% 18% 22% 15% 2020 2021 2022 2023
	2020	43%	21%	21%	15%
	2021	44%	19%	21%	16%
	2022	41%	19%	22%	18%
	2023	45%	18%	22%	15%

Source: OTEXA, US Imports

16

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [312 x 452] intentionally omitted <==

QUARTERLY & OPERATIONAL HIGHLIGHTS

17

Earnings Presentation Q2 FY24

Quarterly Highlights (P&L)

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

arterly Highlights(P&L)	arterly Highlights(P&L)	arterly Highlights(P&L)	arterly Highlights(P&L)	arterly Highlights(P&L)	arterly Highlights(P&L)
Figures in INR Million except EPS
Particulars	Q2FY24	Q2FY23	Y-o-Y Change	Q1 FY24	Q-o-Q Change
Total Income	17,755	14,239	24.7%	14,782	20.1%
EBITDA	2,540	1,477	71.9%	2,393	6.1%
Depreciation	881	775	13.7%	874	0.8%
Finance Cost	342	196	74.3%	314	8.8%
Profit before tax *	1,678	506	231.5%	1,205	39.2%
Net Profit	1,277	397	221.6%	903	41.4%
Cash Profit	2,158	1,171	84.2%	1,777	21.4%
EPS	0.25	0.07	262.4%	0.18	40.9%

* Profit before tax includes exceptional item (gain) of INR 360.50 million

18

Earnings Presentation Q2 FY24

Quarterly Margins (P&L)

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [791 x 423] intentionally omitted <==

----- Start of picture text -----

16.2%
14.3%
10.4%
Revenue Exports
20,000 18,000 16,000 14,000 12,000 10,000 48% 66% 63% 100%99%98%97%96%95%94%93%92%91%90%89%88%87%86%85%84%83%82%81%80%79%78%77%76%75%74%73%72%71%70%69%68%67%66%65%64%63%62%61%60%59%58%57%56%55%54%53%52%51%50%49%48%47%46%45%44%43%42%41%40%39%38%37%36%35%34%33%32%31%30%29%28%27%26%25%24%23%22%21%20%19%18%17%16%15%14%13%12%11%10%9%8%7%6%5%4%3%2%1%0% Q2 FY23Q2 FY232.8%4.9% Q1 FY24Q1 FY2410.3%8.2% Q2 FY24Q2 FY247.4%9.3%
Q2 FY23 Q1 FY24 Q2 FY24
Revenue in INR Million
Q2 FY23 Q1 FY24 Q2 FY24
EBITDA MARGIN
EBIT MARGIN
Exports as of Revenue
14,239 14,782 17,755
PAT MARGIN
----- End of picture text -----

19

Earnings Presentation Q2 FY24

Quarterly Highlights (B/S)

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Particulars	As on Sep 2023	As on Sep 2022	As on Mar 2023
Net Worth	41,381	39,281	41,258
Short Term Loans	4,220	6,267	5,519
Long Term Loans	11,740	5,236	8,222
Gross Debt	15,960	11,503	13,741
Cash & Cash Equivalents	4,000	3,992	3,516
Net Debt	11,960	7,511	10,225
Total Assets	69,828	59,413	67,132

==> picture [259 x 380] intentionally omitted <==

----- Start of picture text -----

0.29
0.25
0.20
as on Sep'22 as on Mar'23 as on Sep'23
1.27
1.21
1.09
as on Sep'22 as on Mar'23 as onSep'23
(in times)
NET DEBT/ EQUITY
(in times)
NET DEBT/ EBITDA
----- End of picture text -----

Figures in INR Million

Net Debt/ EBITDA are annualized in nature

20

Earnings Presentation Q2 FY24

Segment Highlights (P&L)

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Particulars	Q2 FY24	Q2 FY23	Y-o-Y Change	H1FY24	H1FY23	Y-o-Y Change
Textile
Revenue	14,654	12,063	21.48%	26,717	24,208	10.36%
EBIT	1,292	1,000	29.20%	2,292	1,051	118.08%
EBIT Margin	8.82%	8.29%	53 Bps	8.57%	4.34%	423 Bps
Paper
Revenue	2,957	2,607	13.43%	5,564	6,654	(16.38%)
EBIT	712	745	(4.43%)	1,457	1,953	(25.40%)
EBIT Margin	24.08%	28.58%	(450 Bps)	26.19%	29.35%	(316 Bps)

Revenue 17% 83% Textile Paper

Figures in INR Million

21

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [312 x 452] intentionally omitted <==

SUMMARY OF FINANCIAL STATEMENTS

22

Earnings Presentation Q2 FY24

Historical P&L Statement

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Recent performance and growth

Particulars	FY20 FY21 FY22 FY23 H1FY24
Total Income	47,240 45,353 69,415 62,913 32,282
EBITDA	8,653 8,270 15,100 9,418 4,933
Depreciation	3,333 3,365 3326 3,102 1,755
EBIT	5,320 4,905 11,774 6,316 3,178
Finance cost	1,108 720 857 773 656
Profit before tax	4,212 4,451 10,917 5,543 2,883
Tax	794 994 2,767 1,324 703
Profit after tax	3,418 3,457 8,150 4,219 2,180
EPS (Actuals)	0.67 0.68 1.63 0.84 0.43
Cash Profit	6,751 6,822 11,224 7,321 3,935

• ✓ Total Revenue for the H1FY24 stood at INR 32,282 Mn with sales growth of 4.3% as compared to H1FY23 owing to primarily the increase in demand.

• ✓ PBT has increased by 33.8% Y-o-Y in H1FY24 due to decrease in input prices & demand scenario.

• ✓ EBITDA Margin stood at 15.3% in H1FY24. ✓ EPS has increased by 33.9% in H1FY24.

Margin improvement initiatives

• ✓ Move to higher retail price points products, focusing on higher thread count sheets and higher GSM Towels

• ✓ Develop new and innovative products leveraging consumer sentiments and behavior to earn premium

• ✓ Catering to luxury, fashion accents, & sports segments

• ✓ Increasing capacity utilization of plants through digitization of processes and adopting lean practices

Figures in INR Million

23

Earnings Presentation Q2 FY24

Historical Balance Sheet

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

	As on	As on	As on	As on	As on
Particulars
	March 31, 2020	March 31, 2021	March 31, 2022	March 31, 2023	September 30, 2023
CAPITAL AND LIABILITIES
Capital	5,096	5,096	5,096	5,096	5,096
Reserves and surplus	24,573	28,070	32,876	36,162	36,285
Borrowings	19,518	15,355	15,706	13,741	15,960
Deferred tax liabilities	3,367	3,208	3,039	3,003	2,971
Other liabilities and provisions	4,630	5,813	7,590	9,130	9,516
TOTAL	57,184	57,542	64,307	67,132	69,828
ASSETS
Cash and cash equivalents	3,183	984	2,520	1,134	191
Balances with bank	190	139	214	2,383	3,810
Inventory	9,120	10,083	12,904	10,343	9,318
Trade receivables	2,785	4,545	5,285	2,720	4,110
Property, plant & equipment	35,734	36,979	36,202	39,638	46,315
Other assets	6,172	4,812	7,182	10,914	6,084
TOTAL	57,184	57,542	64,307	67,132	69,828

Net Debt reduced by 25.9% in H1FY24 since FY20

Figures in INR Million

24

Earnings Presentation Q2 FY24

Financial Performance

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [417 x 199] intentionally omitted <==

----- Start of picture text -----

REVENUE
67% 65%
700006950069000685006800067500670006650066000655006500064500640006350063000625006200061500610006050060000595005900058500580005750057000565005600055500550005450054000535005300052500520005150051000505005000049500490004850048000475004700046500460004550045000445004400043500430004250042000415004100040500400003950039000385003800037500370003650036000355003500034500340003350033000325003200031500310003050030000295002900028500280002750027000265002600025500250002450024000235002300022500220002150021000205002000019500190001850018000175001700016500160001550015000145001400013500130001250012000115001100010500100009500900085008000750070006500600055005000 56% 54% 49% 64% 80.0%70.0%60.0%50.0%40.0%30.0%20.0%10.0%0.0%
FY20 FY21 FY22 FY23 H1FY23 H1FY24
Revenue (in INR million) Exports
47,240 45,353 69,415 62,913 30,956 32,281
----- End of picture text -----

EBITDA

==> picture [409 x 174] intentionally omitted <==

----- Start of picture text -----

15000 35.0%
14500
14000
13500
1300012500 15.0% 30.0%
12000
11500
1100010500 21.7% 25.0%
1000095009000 19.4% 18.3% 18.2% 15.2%
8500 20.0%
8000
7500
70006500 13.1% 15.0%
6000
5500
5000
45004000 10.0%
3500
3000
25002000 5.0%
1500
1000
500
0 0.0%
FY19 FY20 FY21 FY22 FY23 H1FY23 H1FY24
EBITDA (in INR million) EBITDA Margin
10,292 8,653 8,270 15,100 9,418 4,065 4,933
----- End of picture text -----

==> picture [417 x 193] intentionally omitted <==

----- Start of picture text -----

PBT
15.7%
11500 9.0% 18.0%
11000
1050010000 10.0% 10.0% 16.0%
9500
9000 14.0%
8500
8000
7500700065006000 8.8% 8.9% 7.0% 12.0%10.0%
5500
5000 8.0%
4500
4000 6.0%
3500
3000
2500 4.0%
2000
15001000 2.0%
500
0 0.0%
FY19 FY20 FY21 FY22 FY23 H1FY23 H1FY24
PBT (in INR million) PBT margin
5,469 4,212 4,452 10,916 5,543 2,883 2,154
----- End of picture text -----

==> picture [409 x 200] intentionally omitted <==

----- Start of picture text -----

PAT
11.7%
5000
4500 6.7% 12.0%
4000 7.2% 7.6% 10.0%
7.0%
3500
6.7%
3000 8.0%
2500 5.3%
6.0%
2000
1500 4.0%
1000
2.0%
500
0 0.0%
FY19 FY20 FY21 FY22 FY23 H1FY23 H1FY24
PAT (in INR million) PAT margin
3,709 3,418 3,457 8,150 4,219 1,635 2,180
----- End of picture text -----

25

Earnings Presentation Q2 FY24

Ratios Summar y

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Type	Parameters	FY20	FY22	FY22	FY23	H1FY24
Solvency Ratios	Net Debt/Equity	0.54	0.34	0.34	0.25	0.29
	Net Debt/EBITDA	1.87	0.86	0.86	1.09	1.21
	Interest Coverage Ratio	7.81	17.62	17.62	12.17	7.52
Operational Ratios	Current ratio	1.04	1.25	1.25	1.35	1.43
	Fixed asset turnover	1.30	1.89	1.89	1.44	1.41
	Inventory days	71	68	68	60	52
	Debtor days	22	28	28	16	23
Return Ratios	ROE	11.5%	21.5%	21.5%	10.2%	10.5%
	ROCE	10.8%	21.9%	21.9%	11.5%	11.1%

Net Debt/ Ebitda, ROE & ROCE - are annualized in nature

26

Earnings Presentation Q2 FY24

Se ment Overview g

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Textiles

Paper

Largest Player in terms of Terry Towel Capacity & One of the largest players in Home Textile Space in India

Highest Operating Margin among Key Listed Players in India

==> picture [127 x 121] intentionally omitted <==

==> picture [130 x 121] intentionally omitted <==

==> picture [129 x 121] intentionally omitted <==

==> picture [255 x 121] intentionally omitted <==

Revenue Split between segments

==> picture [802 x 179] intentionally omitted <==

----- Start of picture text -----

H1FY24 58% 25% 17%
H1FY23 50% 29% 22%
FY23 55% 24% 21%
FY22 58% 28% 14%
FY21 64% 20% 16%
FY20 54% 26% 20%
Bath & Bed Linen Yarn Paper
----- End of picture text -----

27

Earnings Presentation Q2 FY24

Se mental Performance Annual g

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Revenue Mix

==> picture [274 x 394] intentionally omitted <==

----- Start of picture text -----

70000 18.4% 19.0%
60000 8.6% 17.0%
50000 8.0% 10.0% 6.6% 15.0%13.0%
11.0%
40000
30000 4.3% 9.0%
7.0%
20000 5.0%
3.0%
10000
1.0%
0 -1.0%
FY20 FY21 FY22 FY23 H1FY23 H1FY24
Sales (in INR million) EBIT Margin
Revenue Mix
16000 33.6% 30.5% 29.4% 26.2% 40.0%
14000 35.0%
12000 25.9% 30.0%
23.8%
10000 25.0%
8000 20.0%
6000 15.0%
4000 10.0%
2000 5.0%
0 0.0%
FY20 FY21 FY22 FY23 H1FY23 H1FY24
Sales (in INR million) EBIT Margin
(% of total revenue)
37776 38161 59394 49243 24208 26717
9225 7041 9800 13431 6654 5564
----- End of picture text -----

Capacity -Towels (in 000’tons)

==> picture [275 x 184] intentionally omitted <==

----- Start of picture text -----

100 48% 53% 61% 48% 53% 70%
90
60%
80
70 43% 50%
60
40%
50
30%
40
30 20%
20
10%
10
0 0%
FY20 FY21 FY22 FY23 H1FY23 H1FY24
Utilization
90.0
90.0 90.0 90.0 45.0 45.0
----- End of picture text -----

Copier vs Non-Copier Revenue Mix

==> picture [101 x 95] intentionally omitted <==

----- Start of picture text -----

62%
----- End of picture text -----

==> picture [210 x 95] intentionally omitted <==

----- Start of picture text -----

38%
Copier
Non-Copier
----- End of picture text -----

(H1FY24)

Capacity-Bed Linen (In Mn meters)

==> picture [255 x 171] intentionally omitted <==

----- Start of picture text -----

100 88% 100%
90 80% 90%
80 60% 67% 80%
70 61% 64% 70%
60 60%
50 50%
40 40%
30 30%
20 20%
10 10%
0 0%
FY20 FY21 FY22 FY23 H1FY23 H1FY24
Capacity Utilization
43.2
43.2 43.2 43.2 21.6 21.6
----- End of picture text -----

Capacity Utilization (Tonnage Basis)

==> picture [273 x 167] intentionally omitted <==

----- Start of picture text -----

250 86% 79% 90% 85% 88% 100%
75% 90%
200 80%
70%
150 60%
50%
100 40%
30%
50 20%
10%
0 0%
FY20 FY21 FY22 FY23 H1FY23 H1FY24
Capacity Utilization
175.0 175.0 175.0 175.0 87.5 87.5
----- End of picture text -----

28

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [313 x 450] intentionally omitted <==

COMMITTED TO THE ESG & WOMEN EMPOWERMENT

29

Earnings Presentation Q2 FY24

Environment Friendl Entit y y

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Zero liquid discharge

Water

Around 95% Water Recovery , 15% less water consumption than benchmark of 50 meter/cubic per ton Recovery of 2822 million liters of water annually.

Trees

8100+ trees are saved on daily basis by using Agro Waste (wheat straw & sugarcane waste

CO2 Emission

Certified by Carbon Footprint for releasing Approx. 58% less emission of Co2/kg with use of wheat straw paper vs wood pulp.

• Cleaning of Narmada river every quarter in order to provide clean water and area to the locals resulting removal of 100 MT waste over period of 3 years.

Energy

• Current renewable energy consumption is 25% using solar power plant as of 2022 .

• Aiming to use 50% renewable energy by 2025 .

• 19.72 MW Rooftop Solar Power Plant & 6.6 MW Groundmounted Solar Power Plant

Green Belt

• Over 9 lacs trees planted to reduce the impact of climate change.

• Endeavoring to take the number of trees planted to 15 lacs trees by 2025

30

Earnings Presentation Q2 FY24

Committed towards Social Cause

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Uplifting the differently abled

==> picture [48 x 45] intentionally omitted <==

• Impacting 10000+ youths through short/long term skill development through Takshashila Academy.

• Sponsored education of 900+ students and supply of books provided to more than 10000 children.

==> picture [45 x 45] intentionally omitted <==

Opportunities for Farmers

• Motivated farmers to sell wheat straw waste and prevented it from burning in open fields.

• Village cluster adoption – 200 Villages & More than 26,500 hectares of land and 17,498 farmers impacted

Initiatives towards Society

==> picture [46 x 40] intentionally omitted <==

Women Empowerment

• Impacted 11k+ women through health & hygiene initiatives.

• Sewing centers in 5 villages providing handicraft training and impacting 200+ families through our Hastkala initiative.

==> picture [45 x 45] intentionally omitted <==

Promoting healthy lifestyle

• Refuse single use plastic awareness to 5000+ families.

• Toilets built for 2000+ individuals to discourage open defecation.

==> picture [40 x 45] intentionally omitted <==

• Provision of drinking water facilities to 18500+ people

Medical Facilities

• Mega Medical Camps & Mobile dispensaries covering 3 lakh+ members.

• Madhuban Hospital providing affordable healthcare services to 18080+ families.

• 13070 patients provided with ophthalmologist services.

31

Earnings Presentation Q2 FY24

Efficient Corporate Governance

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

National Award for Excellence in Corporate Governance 1

2 times stood among the Top 25 Indian Corporates adopting Good Corporate Governance times National Recognition for Good Corporate Governance 3

==> picture [764 x 79] intentionally omitted <==

----- Start of picture text -----

India Rating CARE CRISIL D&B
AA (Stable Outlook): AA (Stable Outlook): AA ( Stable Outlook ):
Non- Convertible LT Borrowings LT Borrowings 5A1 : Business Rating
Debentures A1+: ST Borrowings A1+ : ST Borrowings
----- End of picture text -----

32

Earnings Presentation Q2 FY24

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

==> picture [313 x 452] intentionally omitted <==

WAY FORWARD

33

Earnings Presentation Q2 FY24

Future Pros ects - CAPEX p

==> picture [140 x 36] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

==> picture [960 x 5] intentionally omitted <==

Particulars	Yarn	Bathlinen	Chemicals
Existing Capacity	Spindles- 5.89 Lacs; Rotors- 7464 and Air Jet – 320	622 Looms	1.1 Lacs TPA
Existing Capacity Utilization (FY23)	64%	48%	91%
Proposed Capacity Addition	Spindles- 98,496 Lacs Spindles- 94,848 Lacs	42 Looms	1.05 Lacs TPA
Expected Commercial Operation	December 2023 March 2024	March 2024	March 2024
Investment Required	INR 11000 Mn	INR 2470 Mn	INR 1000 Mn
The mode of financing of all these projects will be through Debt & Equity. This will result into increased competitive advantage for the company and will help to meet increased demand. ~~1~~ ~~2~~ ~~3~~ The capex plans will help to leverage business expertise and capture business synergies.

34

Earnings Presentation Q2 FY24

THANK YOU

==> picture [310 x 161] intentionally omitted <==

==> picture [140 x 36] intentionally omitted <==

==> picture [276 x 264] intentionally omitted <==

==> picture [185 x 305] intentionally omitted <==

GET IN TOUCH

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

==> picture [26 x 26] intentionally omitted <==

==> picture [26 x 26] intentionally omitted <==

==> picture [26 x 26] intentionally omitted <==

==> picture [25 x 26] intentionally omitted <==

==> picture [26 x 25] intentionally omitted <==

==> picture [5 x 6] intentionally omitted <==

35

Earnings Presentation Q2 FY24