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Trident posts record EBITDA & PAT in FY16
17
May '16
World's largest terry towel manufacturer, Trident posted its highest earnings before interest, taxes, depreciation and amortisation (EBITDA) and profit after tax (PAT) in fiscal 2016, ended March 31, owing to improvement in operational efficiencies and strategic initiatives, according to a company filing with the BSE.

The company's EBITDA rose 8 per cent in FY 2016 to Rs 750.9 crore as compared to Rs 695.1 crore last fiscal. PAT stood at Rs 228.4 crore, a growth of 93.9 per cent, as compared to Rs 117.8 crore in FY 2015.

“I am happy to share that we reported highest-ever EBITDA and PAT during the financial year,” Rajinder Gupta, chairman of Trident Group commented on the results. This  was  a  result  of  our  focus  on  expanding  margins  by  improving operational  efficiencies and other strategic initiatives.”

“During the year, our effort was on improving the penetration of our home textile products in international as well as domestic markets through emphasis on marketing,” he informed.

EBITDA rose 6 per cent in FY16 to Rs 537 crore as compared to Rs 505 crore in the previous fiscal at the home textile segment. Healthy margin in terry towel business was the chief cause.

“The roadmap for the coming year looks promising, as we are geared up to sweat our global scale capacities in the home textiles segment,” Gupta said.

“With major CAPEX behind us, strong financial performance in the coming years will enable us to generate significant free cash flows, which we believe will create tremendous value for all our stakeholders,” he added. (MCJ)

Fibre2Fashion News Desk - India

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