Home / Knowledge / News / Textiles / Q1FY16 net zooms 89% at home textiles exporter Trident
Q1FY16 net zooms 89% at home textiles exporter Trident
03
Aug '15
Net profit at one of the biggest Indian home textiles producer and exporter Trident Ltd zoomed 89 per cent year over year in the three months to June 30, 2015.

In a BSE filing, Trident said its net profit soared 89 per cent to Rs 61.0 crore in the first quarter of fiscal 2016 vis-à-vis Rs 32.3 crore in the three months to June 30, 2015.

Net revenue in the reporting quarter however climbed down 3.7 per cent at Rs 879.1 crore compared to Rs 913.3 crore in prior fiscal first quarter.

“Net sales declined due to lower yarn realisations and higher captive consumption of yarn,” the Rajinder Gupta led Trident explained.

Finance cost declined by 23.5 per cent to Rs. 44.5 crore in the quarter under review from Rs 58.1 crore in the previous fiscal's first quarter.

It also informed that, improvement in its credit rating has enabled the Company to significantly reduce the overall interest costs.

The Company repaid term loan amounting to Rs 102.9 crore during the quarter, which includes prepayment of high cost debt of Rs 32.2 crore, while outstanding term debt as on June 30, 2015 stood at Rs 1,896.5 crore

The equity ratio at the end of June 30, 2015 stood at 1.77:1, while the filing observed that debt level increased due to expanded capacities and return ratios improved due to improved margins

Cash profits at Rs 142.3 crore in the first quarter of fiscal 2016 were higher versus Rs 113.1 crore in the corresponding quarter of last fiscal.

The Trident board of directors has approved raising funds totaling to Rs 60 crore through issue of unlisted non-convertible cumulative redeemable preference shares on private placement basis.

The strategy committee of the Company has revisited Capex plan of yarn modernization project at Rs 103.9 crore and captive power project of Rs 393 crore at its facility in Budhni, Madhya Pradesh.

“This is in-line with management's focus on consolidating its existing terry towel operations and upcoming composite bed linen project,” it noted.

Going forward, based on free cash flow generation, Trident may evaluate a captive power plant at its Budhni Facility in smaller phases.

Chairman Rajinder Gupta said, “Trident has begun the year on a positive note with steady performance backed by healthy demand scenario and improved off-take of home textile products.”

“Our focus currently would be to drive growth by leveraging and consolidating the existing terry towel operations and stabilising the upcoming composite bed linen project,” he too added.

“Capex would be deployed only for necessary de-bottlenecking to enhance productivity and performance in the upcoming years,” Gupta too observed.


Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search