The Trident Group has reported a decline in the production of bed linen, yarn, chemicals, and paper for September on a month-on-month basis. Bath linen output, however, increased in the month under review.
Shares of Trident are currently trading 0.5 percent lower, in line with the benchmark Nifty 50 index that is down 0.6 percent. However, the stock is down over 30 percent this year.
Trident is one of the largest players in the home textile segment in the country. The company's quarterly net profit in June 2022 stood at Rs 129.35 crore, down nearly 40 percent compared to the same period last year.
Earlier in August, Founder and Chairman Rajinder Gupta expressed his desire to step down as director and non-executive chairman of the company, citing health issues and family commitments.
The Nomination and Remuneration Committee in August also approved broad basing and restructuring of the company's Board of Directors by induction of two independent directors, one non-independent director, and five professional managing directors. This is in addition to the existing number of directors.
