homemarket Newsstocks NewsTrident shares end over 7% higher after production increases month on month
Trident shares end over 7% higher after production increases month-on-month
On a yearly basis, the production of bath linen dropped 2 percent and yarn output by 12 percent while bed linen production rose by 8 percent.
Shares of textiles and chemicals manufacturer Trident Ltd. ended over 7 percent higher at Rs 32.10 on Tuesday after the company posted up to a 15 percent month-on-month growth in production volume of its home textile and paper and chemical divisions.
According to its monthly production update, the production of bath linen rose by 7 percent month-on-month to 3,556 metric tonnes, bed linen by 13 percent to 3.13 million metres, and yarn by 15 percent to 8,675 metric tonnes in March compared to the previous month.
On a yearly basis, the production of bath linen dropped by 2 percent and yarn output by 12 percent while bed linen production rose by 8 percent.
In the paper and chemical division, the paper production edged up by 1 percent to 12,010 metric tonnes and chemical output by 12 percent to 9,378 metric tonnes in March compared to the output in February.
Paper output dropped 12 percent year-on-year while chemical output was up 2 percent in March over a year ago.
Meanwhile, brokerage Motilal Oswal Financial Services expects Trident to post a 7 percent quarter-on-quarter growth in revenue to Rs 1,732 crore in the March quarter.
Motilal Oswal expects the EBITDA to improve by 6 percent QoQ to Rs 282 crore while a 6 percent QoQ growth in profit after tax to Rs 192 crore in the March quarter.
The brokerage would be watching out for the demand scenario in the US market for home textiles and the overall order book for the textile business for further guidance.
Trident reported revenue from operations of Rs 1,641.4 crore for the December quarter against Rs 1,437.6 crore for the September quarter.
Profit after tax was at Rs 144.2 crore as against Rs 37.3 crore in the year-ago quarter.
Trident is the flagship company of the $3 billion conglomerate Trident Group. Trident is a vertically integrated textile (Yarn, Bath, and Bed Linen) and Paper (Wheat Straw-based) manufacturer. The company operates in three major business segments: textiles, paper, and chemicals. It has manufacturing facilities in Punjab and Madhya Pradesh.
(Edited by : Rukmani Krishna)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Shehnai by Ustad Bismillah Khan's kin, ode to Kashi's celebrities: PM Modi's roadshow to showcase Varanasi's grandeur
May 13, 2024 11:03 AM
Piyush Goyal speaks on '400 paar' target, Maharashtra power play and more | Full text
May 13, 2024 9:00 AM
Why low voter turnout continues to be a serious subject of discussion as Phase-4 voting begins today
May 13, 2024 8:32 AM
Only 12% of candidates in fray in phase 5 are women, says ADR
May 13, 2024 7:15 AM