Trident

Trident Limited – NSE: TRIDENT

Textiles • Paper • Chemicals • Home Textiles

Simple analysis for small investors and students

Quick View: Trident Limited is a diversified Indian company engaged in yarn, towels, bed & bath linen, wheat-straw-based paper and chemicals. It is part of the Trident Group headquartered in Ludhiana, Punjab.

1. Company Overview

Trident began in 1990 as a yarn manufacturer and later expanded into terry towels, bed linen, paper, chemicals and power. Today, it is one of India’s largest home-textile exporters and among the leading producers of agro-based (wheat straw) paper.

Key Business Segments

• Textiles: Yarn, terry towels, bed & bath linen, bed sheets.
• Paper: Writing & printing paper, copier paper using wheat straw.
• Chemicals: Sulphuric acid and allied chemicals.
• Energy: Captive power including solar plants.

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2. Management & Leadership

Trident has an experienced board with strong promoter leadership and seasoned professionals managing daily operations.

Board of Directors

• Padmashri Rajinder Gupta – Chairman Emeritus
• Dr. Anthony De Sa – Chairman & Independent Director
• Deepak Nanda – Managing Director
• Rajiv Dewan – Independent Director
• Usha Sangwan – Independent Director
• Prof. Rajeev Ahuja – Independent Director
• Pramod Agrawal – Independent Director

Key Executives

• Samir Joshipura – Group CEO
• Avneesh Barua – CFO
• Sushil Sharma – Company Secretary

3. Order Book & Growth Outlook

• Improving order book for home textiles after global slowdown.
• Large recent capex (~₹785 crore) to expand towel and bed linen capacity.
• Focus on branding (“myTrident”), e-commerce and design innovation.
• Exports expected to rise as retailer inventory normalises globally.

Note: Trident does not declare a fixed numerical quarterly order-book like defence/infra companies. The company only provides qualitative outlook.

4. Last 5 Years – Balance Sheet Summary (₹ Crore)

Year (March end)	Net Worth	Total Debt	Total Assets	Remarks
FY25	≈ 4,610	≈ 1,576	≈ 7,129	Debt reduced; net worth highest so far.
FY24	≈ 4,309	≈ 2,061	≈ 7,522	Higher borrowings due to capex cycle.
FY23	≈ 4,126	≈ 1,374	≈ 6,713	Balance sheet strengthened.
FY22	≈ 3,797	≈ 1,571	≈ 6,431	Strong profitability year.
FY21	≈ 3,317	≈ 1,489	≈ 5,754	Covid recovery year.

*Net Worth = Share Capital + Reserves; *Debt = Long-term + Short-term borrowings.

Financial Highlights

• Moderate sales growth (~8% CAGR over 5 years).
• ROE in single digits; margins cyclical due to raw material costs.
• Regular dividends; strong credit ratings (AA / A1+).

5. Strengths & Risks

Strengths

• Large integrated textile operations.
• Strong position in wheat-straw paper and sulphuric acid.
• Export market relationships with global retailers.
• Brand focus (myTrident), automation, Industry 4.0.

Risks

• Textile business is cyclical and dependent on global demand.
• Profitability impacted by cotton prices and currency movements.
• Debt can rise during expansion cycles.
• High competition from Indian & overseas manufacturers.

6. Conclusion

Trident Limited remains one of the major players in India’s home-textile & paper industry. The company has strengthened its balance sheet and continues to invest in capacity and branding. However, the business remains cyclical and sensitive to global market conditions. Investors should review valuations and consult advisors before making decisions.

Disclaimer: This analysis is for educational purposes only. It is not investment advice. Stock markets are subject to risks. Please consult a SEBI-registered financial advisor before investing.