Trident Ltd — Regulatory Filings 2020

Jul 4, 2020

TRIDENT/CS/2020 July 4, 2020

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	TRIDENT/CS/2020July4,2020
The ManagerListing DepartmentNational Stock Exchange of India LimitedExchange Plaza, Plot No. C/1, G BlockBandra Kurla Complex, Bandra (E)Mumbai – 400 051	The ManagerListing DepartmentBSE LimitedPhiroze Jeejeebhoy TowersDalal StreetMumbai – 400 001
Scrip Code:- TRIDENT	Scrip Code:- 521064

Dear Sir/ Madam

Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/84 dated May 20, 2020 and with reference to our earlier relevant disclosures on the subject, following are the brief details relating to the impact of the COVID-19 pandemic and the resultant lockdown, on the operations of the Company and its current status:

1. Impact of the COVID-19 pandemic on the business

Operations in India:

The operations of the Company were disrupted in last week of March, 2020. The Company restarted the operations in phased manner after necessary permissions from the Statutory Authorities in the third week of April, 2020.

The Company has utilised the time of lock down to carry out the all round preventive maintenance of its plants.

The Company has adopted “Work from Home” policy & continues the same. Laptops/ Digital connectivity & e-mail for remote access was granted to the employees so that, they are able to work from home smoothly. There was limited impact on the availability of work force at manufacturing facilities, as both the locations has residential complexes for its members within the premises.

All the safety protocols related to COVID-19, as advised by the Government have been implemented. The Company is making adequate provisions for masks, sanitizers, facility for washing of hands & transportation (wherever needed) to its employees. Regular fumigation of offices & manufacturing facilities is being carried out.

Sanitization & Thermal screening of employees & other entrants is being ensured. The Company has maintained regular touch with its vendors & customers during lock down.

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Also, the Company launched CISCO webex for more than 2000 employees and virtual meetings were conducted with the man hours aggregating to more than 20,000.

International operations:

Business operations in the various international markets, where the Company operates/ serves, have been impacted to varying extent, based on the spread of the pandemic and the restrictions on business activities placed by the respective Government authorities in these countries.

2. Schedule, if any, for restarting the operations

Currently all the plants are operational.

3. Estimation of the future impact of COVID-19 on its operations

Due to unpredictable and fast changing COVID-19 situation, it is very difficult to assess the future impact of COVID-19 on business operations and it is expected to evolve over a period of time. However, we are confident about our ability to manage this crisis through our financial stability, our trusted brands, our consumers, our committed employees and our quality of leadership.

4. Details of impact of COVID-19 on

• a. Capital and financial resources

The Company’s equity capital structure remains unchanged. The Company has taken steps to ensure adequacy of financial resources and presently, Company has adequate capital and financial resources to run its business.

b. Profitability

The profitability of the Company for the quarter and financial year ended March 31, 2020 has been impacted and the same is visible in our financial results duly approved by the Board of Directors of the Company in their meeting held on May 16, 2020.

c. Liquidity position

The Company has taken steps to ensure that it has adequate liquidity to meet its financial and other commitments. The cash position of the Company is comfortable and the liquidity is assured, having enough cash & unused credit lines.

• d. Ability to service debt and other financing arrangements

The Company has the ability to service, debt and other financing arrangements as per agreements with respective lenders. The Company has issued the Commercial Paper amounting to Rs 50 Crores on June 18, 2020 to meet its short term working capital requirements and the same has been listed on BSE Limited.

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e. Assets

The Company has made detailed assessment of its liquidity position for the next year and the recoverability and carrying value of its assets comprising property, plant and equipment, intangible assets, right of use assets, investments, inventory and trade receivables. Based on current indicators of future economic conditions, the Company expects to recover the carrying amount of these assets. It has also assessed the probability of occurrence of forecasted transactions under the hedging relationships and continues to evaluate them as highly probable considering the orders in hand. The situation is changing rapidly giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19, which may be different from that estimates made. The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business.

• f. Internal financial reporting and control

There is no impact on internal financial reporting & controls due to the COVID-19 situation.

g. Supply chain

The supply chain was disrupted in view of lockdown, however, the situation is improving gradually with Central & States relaxing lockdown norms. The Company has already started working on Unified Supply Chain concept to streamline the sourcing to sales strategy.

h. Demand for its products/services

It is difficult to predict any future demand scenario, however things on demand side have seen improvement. Gradual opening up of economies around the world has created a pent-up demand. The Company is looking at capturing the same through innovative offerings & increased customer interactions. Home furnishing demand under wellness category is getting enhanced focus. Introduction of Anti-microbial treatment as standard across Bath Linen category has received very good response from export customers. The Company has created a separate E-commerce vertical to cater the demand of products through online mode.

• i. Existing contracts/agreements where non-fulfilment of the obligations by any party will have significant impact on the listed entity’s business

The Company is well positioned to fulfil its obligations and does not foresee any significant impact on the business due to non-fulfilment of the obligations by any party.

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j. Other relevant material updates about the listed entity’s business

The Company has been regularly updating the Stock Exchanges about its business and will continue the same whenever there would be any material change.

This is for your kind information & records please.

Thanking you Yours faithfully For Trident Limited (Ramandeep Kaur) Company Secretary ICSI Membership No.: F9160

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