Trident Ltd — Report Publication Announcement 2020

Oct 16, 2020

TRIDENT/CS/2020 October 16, 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: Submission of newspaper cutting for publication of Financial Results for the Quarter and Half Year ended on September 30, 2020

In accordance with Regulation 47 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the copies of the newspaper cutting of Financial Results for the Quarter and Half Year ended on September 30, 2020 published in "Business Standard" and "Punjabi Jagran" on October 16, 2020.

This is for your information and records please.

Thanking you, Yours faithfully, For Trident Limited

RAMANDEEP Digitally signed by RAMANDEEP KAUR Date: 2020.10.16 17:04:54

(Ramandeep Kaur) Company Secretary ICSI Membership No.: F9160 KAUR +05'30'

Encl: as Above

16/10/2020 TL/2020/001692

AirIndia...

The deadline to bid —currently October 30 — is likely to be extended by two more months. "Air India's equity value is negative.

Hardly, anyone will be willing to pay for equity. But under the current disinvestment rules, a negative bid isn't allowed. So, a prospective bidder had to take over thedebtamount.Thechangedrulemeans the bidders can quote a combined value, basedonequityanddebt.Thehighestone toquotethatwillwinthebid.Theproceeds fromthebidcanbeusedtoretirewhatever debt remains on the books of the company," said a government official aware of the matter.

~29,464 of the company's debt has already been transferred to a special purpose vehicle (SPV).

Along with this key change, bidders will also be promised more flexibility on how to deal with human resources and assets in the later stage of bidding if the aviation sector's condition is further worsened by the pandemic.

"Submission of expression of interest is only the first stage of the bidding process.Bythetimeanentitysubmitsafinancial bid, it will be clear whether there is a

of air travel,'' a second official briefed on the matter said. Since the scenario of upside or downside is not clear, more relaxations in terms of workforce and assets have been put off, he pointed out.

'Outside of...'

Whatarethechecksandbalancesin placetoensurethesanctityofrawdata andfinalnumbers?

We are statistically built, so we look for outliersinthedata.Ifthereare10channels in a genre and there is anomaly – increase in time spent at a certain time or at the usual time or new audiences from different clusters come — we are alerted. Many times, it is a normal thing. For instance, during the lockdown, non-prime time viewing grew, or if a channel has, say, a JamesBondfilmfestival,youbinge-watch. But if there are unusual spikes, we investigate. The algorithm picks it up; the data scientists lookatit.Everyweektherearea lot of outliers – many legitimate. Then there are errant homes which have been penetrated. Ratings are a currency for the

~32,000-crore television ad business, not for content and broadcasting. Advertisers need stability of data. So if things are fluctuating wildly, we investigate.

secondwaveof the pandemic or a vaccine isnearwhichwillmeanasuddenrecovery themediabusiness.Wearemeasuringthe massandthepopularinIndia,andwegive incentives to these homes on norms that have been laid down. These are for the inconvenience, the use of electricity for the meter. But people figure out how to gamify the system.

Astatisticalprocessdetermines where the boxes are placed. Also, everysubscriber(toourdata)signs anend-userlicenceagreement.We havefiledpolicecomplaintsacross many states. These are usually local complaints, but these can be filed only if there is evidence. Usually, we get no support from authorities because they (genuinely) have other priorities. We havebeentryingtocriminalisethe breach of a panel home, but it is difficult.Infiltrationmeansyouare breaking the end-user licence agreement. Plus, replacing a panel homeisanexpensiveprocess.Who pays for it? Then there is a disciplinary process (on our website), which lists four levels of offence andthepunishmentfor each.This variesfrompenalties tosuspension ofratingandterminationofmembership. So far, there has been action only up to level two.

Whyistherethispopular perceptionthatratingsare tamperedwith?

Theperceptionisamongpeoplein

CanBARCchoosetoonlymeasuregenres likeentertainment, forwhichthesample isstatisticallystable?Canthesuspension ofratingsfornewsbepermanent?

Thereisa social value tonewsthatcannot be ignored. That is why the revenue share of news is more than 8 per cent (which is its share of total television viewership. Usually revenue share is proportionate to share of viewership).

Fading stimulus...

The hopes of the US Congress passing a stimulus package waned after Treasury SecretaryStevenMnuchinonWednesday saidsomethingdoneonthestimuluspackage before the election and executing on that would be difficult.

"A deal before the elections seems unlikely, and investors are worried," said Andrew Holland, chief executive officer, AvendusCapital, Alternate Strategies.

The rising pandemic cases in Europe added to investor worries. Infections in Germany and Italy are rising, and several countrieshave imposedstrictermeasures to contain the disease. Stalled vaccine trials and Brexit clouds also affected sentiment. Both overseas as well as domestic investorswere sellers in Thursday's trade. The former sold shares worth ~604 crore, while the latter yanked out ~808 crore.

Centre toborrow...

However,aseniorfinanceministryofficial said:"ItistheCentrethatisfacilitatingthe states' borrowing. This helps the states ... the yield may be lower."

Despitealackofconsensusontheissue in theCouncil meeting, the finance ministry initiated the borrowing process for 21 states that had picked the option of borrowingupto~1.1 trillion.Underthisoption, the principal and interest will be repaid via compensation cess, which has now been extended beyond June 2022.

Punjab Finance Minister Manpreet SinghBadalwroteUnionFinanceMinister Nirmala Sitharaman in August, saying many members (of the GST Council) had stated borrowing by the states might be costlier by 50-150 basis points.

West Bengal Chief Minister Mamata Banerjee, in her letter to Prime minister Narendra Modi, had urged the Centre to do the borrowing.

l s.	Particulars	Standalone
No.			Quarter Ended	Half Year Ended	Year Ended
		30.09.2020	30.09.2019	30.09.2020	30.09.2019	31.03.2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
п.	Total Income	11.745.9	13,256.2	18.879.5	26,352.9	47,239.5
2.	Profit Before Tax	1.315.5	1.470.3	1.447.5	3.305.3	4.212.1
3.	Profit After Tax	1.002.4	1,370.9	1.103.4	2,603.3	3.418.0
4.	Total Comprehensive Income after Tax	1.258.8	1.202.1	1,769.3	2.454.7	2,936.7

By Order of the Board of Directors
For Trident Limited
Sd
Deepak Nanda
Managing Director
DIN: 00403335

> FROM PAGE 1

ADITI PHADNIS New Delhi, 15 October

R estorationofArticle370 as it applied to Jammu & Kashmir prior to August 5, 2019, is the principal demand of representatives of six J&K political parties — bitter adversaries on the ground — who met at former chief ministerFarooqAbdullah's residenceinSrinagaronThursday and announced the formation the People's Alliance for Gupkar Declaration to start a movement towards that aim. "We will meet again" was

Abdullah'spromiseashemade a short but terse statement, with Mehbooba Mufti of the Peoples Democratic Party (PDP) by his side.

People's Conference ChairmanSajadLone,People's Movement leader Javaid Mir, andCPI(M)leaderMohammad Yousuf Tarigami were among those who attended. The state unit of the Congress announced it could not be present because of a medical emergency.

Abdullah said the signatories will also fight for the rightsofLadakh. "Wealsowant

that the steps be taken for the

up of the Gupkar declaration — so called because it was signed by six mainstream

parties at the Abdullah residence on Srinagar's Gupkar Road on August 4 last year, a day before Article 370 was revoked. The declaration "unanimously resolved that signatories would be united in their effort to protect and defendtheidentity,autonomy,

resolution of Kashmir issue andallthestakeholdersshould be taken on board." The meeting was a followfurther participation in the politicalprocess:neitherabout thepossibility of taking part in local body elections that are

and special status of J&K against all attacks". The group made no comment about the nature of likely to be held first; nor, significantlyissuingaboycottcall. Formercentralinterlocutor Radha Kumar said the coming togetherofthegroupitselfwas a major step forward. "As far as restorationofArticle370iscon-

Kumar said.

Given the divergence

withinthegroupaboutthefeasibility of restoring Article 370, getting the parties to speak from the same script itself will bedifficult.FormerUnionminister Omar Abdullah has said he believes promising restoration of status quo would be "tokenism" and "appeasement".Congress,too,isdivided on whether it can be reversed. The biggest challenge

cerned,Idon'tthinkthecentral government will be inclined towards it. On the other hand, some people have floated the idea of adding another section toArticle371oftheconstitution by whichsome rights that J&K enjoyed might be restored," Several civil rights groups areinSupremeCourt,whichis hearing cases on the legality of the revocation itself. Most of these groups believe that the formation of an alliance, however loose, to demand restoration of Article 370 will strengthen their case in court.

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						(₹ in Millions)
S.	Particulars	Consolidated
No.			Quarter Ended	Half Year Ended	Year Ended
		30.09.2020(Unaudited)	30.09.2019(Unaudited)	30.09.2020(Unaudited)	30.09.2019(Unaudited)	31.03.2020(Audited)
1.	Total Income from Operations	11,774.6	13,443.7	18.914.9	26.594.2	47,479.1
2.	Net Profit / (Loss) for the period (Before Tax,Exceptional and/or Extraordinary items)	1.382.7	1.530.2	1,513.5	3.376.4	4,246.2
3.	Net Profit / (Loss) for the period before tax(after Exceptional and/or Extraordinary items)	1.387.1	1,518.8	1,519.4	3,350.0	4,210.4
4.	Net Profit / (Loss) for the period after tax(after Exceptional and/or Extraordinary items)	1.056.9	1.398.0	1.157.9	2.622.4	3.397.0
5.	Total Comprehensive Income for the period[Comprising Profit / (Loss) for the period(after tax) and Other Comprehensive Income(after tax)	1.313.6	1,229.5	1,824.0	2.474.4	2.917.4
6.	Equity Share Capital*	4.979.4	4.979.4	4.979.4	4.979.4	4.979.4
7.	Reserves (excluding Revaluation Reserve) asshown in the Audited Balance Sheet of theprevious year					25.234.6
8.	Earnings Per Share (of INR 1/- each) #(for continuing and discontinued operations)
	1. Basic:	0.21	0.28	0.23	0.53	0.68
	2. Diluted:	0.21	0.28	0.23	0.53	0.68

beforetheovergroundpolitical forcesis toorganisethemselves in protests. The second challenge is to decide whether to participateinelections,atwhatever level they are held.

"The one big point that emerges from Thursday's meetingisthis.Thosewhosaid that the presidential order of hollowing out Article 370 would be met with universal anger and a sense of humiliation in the valley were not wrong," Kumar said.

6 J&K partiesteamup for special statusrestoration

PEERZADA ABRAR & PTI Bengaluru, 15October

The Supreme Court (SC) on Thursday extended the relief granted to Facebook India and Ajit Mohan, its vice-president and managing director, at its previous hearing from appearing before a Delhi Assembly panel till the next hearing, scheduled for December.

The matter pertains to a petition filed by Facebook India and Mohan, challenging the summons issued by Delhi Assembly's Committee on Peace and Harmony, which is probing the social mediagiant'sallegedfailuretotrackdown hate speech during the Delhi riots that took place in February.

Meanwhile, the Centre told the apex

court that Delhi panel's proceedings were "without jurisdiction" as the issue pertained to law and order.

Solicitor General Tushar Mehta submittedbeforeaBenchof JusticesSKKaul andDineshMaheshwarithat "publicorder and police are not within the domain of theDelhiLegislativeAssemblyandtherefore this proceeding is without jurisdiction." The Bench posted the matter for arguments on December 2.

"Facebook asserted that it will not appear before the Delhi Assembly's panel," said Sumit Kochar, a corporate commercial lawyer and transaction advisory partner at Dolce Vita Trustees. "It said there is no meaning of summoning Facebook as a witness as it only provides a social media platform and doesn't write

anything leading to any social issue, hence,summoningFacebookforanyproceeding is futile."

Facebook did not comment on the development. Senior advocate representing Mohan had mentioned that the right to freedom of speech and expression under Article 19(1)(a) of the Constitution includes the right to not speak.

The Delhi Assembly in a counterclaim submitted earlier had mentioned that the witness (Facebook) cannot claim his right to silence or to be let alone in response to the summons to depose before a lawful committee of empowered legislation. It had said the rightto remain silent is not a fundamental right except when the person is an accused under Article 20 of the Constitution.

Weonly provide platform,won'tappear beforeDelhiAssemblypanel,FBtellsSC

J&K National Conference President Farooq Abdullah at a conferencewithsonOmar,PDPPresidentMehboobaMufti after meeting of signatories to Gupkar declaration PHOTO: PTI

Announce formation of People's Alliance for Gupkar Declaration

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Date: October 15, 2020

ਮਤਸਰ ਸਾਹਿਬ।

Managing Director DIN: 00403335