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Trident Overview

Trident Limited is a terry towel, yarn and wheat straw-based paper manufacturer. The Company's segments consist of Textiles, Paper and Chemical/Chemicals, and Others. The Company's geographical segments encompass USA and rest of the arena. The Textiles section includes yarn, towel, mattress sheets and dyed yarn production (consisting of application service). The Paper and Chemical/Chemicals section includes paper and sulfuric acid. The Others section consists of sale of software and related offerings. The Company's product portfolio includes so...Read More

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Trident Key Financials

Market Cap ₹13209 Cr.

Stock P/E 35.6

P/B 2.8

Current Price ₹25.9

Book Value ₹ 9.1

Face Value 1

52W High ₹34.6

Dividend Yield 1.39%

52W Low ₹ 22

Trident Share Price

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Volume
Price

Trident Quarterly Price

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Trident Peer Comparison

Trident Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1798 1835 1682 1743 1713 1667 1864 1707 1787 1574
Other Income 17 16 18 20 16 23 19 23 16 20
Total Income 1814 1851 1700 1763 1729 1690 1883 1730 1803 1595
Total Expenditure 1559 1574 1477 1523 1491 1461 1619 1418 1573 1439
Operating Profit 255 277 224 240 238 229 264 312 230 156
Interest 35 40 49 47 46 35 3 31 25 26
Depreciation 89 90 96 92 92 93 90 93 83 72
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 130 146 78 102 99 102 172 188 123 59
Provision for Tax 40 37 19 28 16 22 38 48 33 18
Profit After Tax 90 109 59 74 83 80 133 140 90 41
Adjustments 0 -1 -2 -0 -0 -0 -0 0 1 3
Profit After Adjustments 91 109 57 74 83 80 133 140 91 44
Adjusted Earnings Per Share 0.2 0.2 0.1 0.1 0.2 0.2 0.3 0.3 0.2 0.1

Trident Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 3755 3666 4625 4559 5249 4728 4531 6998 6332 6809 6987 6932
Other Income 34 33 106 96 44 40 27 48 27 70 75 78
Total Income 3790 3699 4731 4656 5292 4767 4558 7046 6359 6879 7063 7011
Total Expenditure 3095 2936 3740 3742 4266 3898 3719 5511 5388 5881 6092 6049
Operating Profit 695 763 992 913 1026 869 839 1535 971 998 971 962
Interest 206 145 141 118 112 111 72 86 80 156 130 85
Depreciation 321 337 413 404 364 334 337 333 313 365 366 338
Exceptional Income / Expenses 0 0 0 0 0 0 -32 0 0 0 0 0
Profit Before Tax 168 281 439 392 550 421 398 1116 579 477 475 542
Provision for Tax 50 39 102 126 178 81 94 283 137 127 104 137
Profit After Tax 118 242 337 266 372 340 304 834 442 350 371 404
Adjustments 0 0 0 0 0 0 0 0 -1 -0 -1 4
Profit After Adjustments 118 242 337 266 372 340 304 834 441 350 370 408
Adjusted Earnings Per Share 0.2 0.5 0.7 0.5 0.7 0.7 0.6 1.6 0.9 0.7 0.7 0.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 3% -0% 8% 6%
Operating Profit CAGR -3% -14% 2% 3%
PAT CAGR 6% -24% 2% 12%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -6% -7% 13% 18%
ROE Average 8% 9% 12% 12%
ROCE Average 10% 11% 13% 11%

Trident Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1455 2436 2757 2726 2973 3021 3328 3845 4193 4315 4621
Minority's Interest 0 0 0 0 0 0 0 0 2 2 0
Borrowings 1396 2137 1744 1411 954 689 255 310 804 1173 963
Other Non-Current Liabilities 340 495 246 340 408 369 346 331 365 368 327
Total Current Liabilities 1491 1638 1437 1686 1822 1697 1842 2003 1465 1705 1250
Total Liabilities 4683 6705 6184 6163 6156 5776 5772 6489 6829 7563 7161
Fixed Assets 2864 4693 4345 3902 3717 3681 3791 3713 4094 4608 4455
Other Non-Current Assets 582 439 332 430 403 343 149 228 689 255 196
Total Current Assets 1237 1573 1507 1831 2037 1752 1832 2549 2045 2701 2510
Total Assets 4683 6705 6184 6163 6156 5776 5772 6489 6829 7563 7161

Trident Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 9 4 5 28 48 10 319 99 271 127 26
Cash Flow from Operating Activities 544 532 999 476 656 1214 505 903 1426 287 945
Cash Flow from Investing Activities -143 -1199 -167 -188 -51 -43 -155 -343 -1165 -718 -205
Cash Flow from Financing Activities -432 667 -808 -268 -643 -862 -570 -387 -410 340 -682
Net Cash Inflow / Outflow -31 1 23 20 -38 309 -220 172 -149 -91 57
Closing Cash & Cash Equivalent 7 5 28 48 10 319 99 271 127 26 84

Trident Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.23 0.48 0.68 0.53 0.75 0.68 0.6 1.64 0.86 0.69 0.73
CEPS(Rs) 0.86 1.14 1.51 1.35 1.48 1.35 1.26 2.29 1.48 1.4 1.45
DPS(Rs) 0.06 0.09 0.15 0.15 0.3 0.36 0.36 0.36 0.36 0.36 0.36
Book NAV/Share(Rs) 2.86 4.78 5.54 5.48 5.97 6.07 6.53 7.54 8.23 8.47 9.07
Core EBITDA Margin(%) 17.38 19.66 18.94 17.87 18.73 17.55 17.91 21.25 14.91 13.63 12.82
EBIT Margin(%) 9.84 11.49 12.4 11.15 12.62 11.25 10.39 17.19 10.4 9.3 8.66
Pre Tax Margin(%) 4.42 7.58 9.39 8.57 10.48 8.91 8.79 15.95 9.14 7 6.79
PAT Margin (%) 3.1 6.52 7.21 5.82 7.08 7.19 6.72 11.91 6.97 5.14 5.31
Cash Profit Margin (%) 11.55 15.59 16.04 14.66 14.02 14.24 14.15 16.67 11.91 10.5 10.55
ROA(%) 2.94 4.25 5.23 4.31 6.04 5.69 5.27 13.6 6.63 4.86 5.04
ROE(%) 10.07 12.44 12.99 9.71 13.05 11.33 9.59 23.25 10.99 8.23 8.3
ROCE(%) 10.96 8.6 10.1 9.16 12.12 10.25 9.57 23.4 12 10.6 9.62
Receivable days 22.44 22.36 24.45 33.35 38.88 36.02 29.16 25.4 23.11 18.45 18.53
Inventory Days 66.9 81.5 65.64 67.76 67.27 74.44 78.12 60.96 69.06 66.34 68.91
Payable days 39.85 44.63 32.33 27.48 26.63 33.01 45.26 41.43 54.1 53.69 41.23
PER(x) 9.93 10.81 12.74 11.11 9.62 6.23 23.52 32.49 32.3 53.27 33.44
Price/Book(x) 0.8 1.07 1.56 1.08 1.2 0.7 2.15 7.04 3.4 4.32 2.68
Dividend Yield(%) 2.61 1.75 1.74 2.53 4.18 8.47 2.56 0.68 1.29 0.99 1.48
EV/Net Sales(x) 0.99 1.63 1.52 1.23 1.14 0.79 1.89 4.05 2.41 2.96 1.9
EV/Core EBITDA(x) 5.37 7.83 7.07 6.12 5.83 4.29 10.23 18.48 15.7 20.19 13.66
Net Sales Growth(%) -2.94 -2.39 26.18 -1.42 15.12 -9.93 -4.17 54.45 -9.51 7.53 2.62
EBIT Growth(%) -21.36 14.05 35.98 -12.06 29.92 -19.71 -11.54 155.59 -45.23 -3.87 -4.5
PAT Growth(%) -40.19 105.38 39.31 -21.08 39.68 -8.63 -10.39 173.91 -47.03 -20.75 5.93
EPS Growth(%) -62.85 105.09 42.53 -21.07 39.6 -8.59 -12.45 173.92 -47.14 -20.7 5.82
Debt/Equity(x) 1.77 1.41 1.03 1.03 0.82 0.65 0.46 0.41 0.33 0.48 0.34
Current Ratio(x) 0.83 0.96 1.05 1.09 1.12 1.03 0.99 1.27 1.4 1.58 2.01
Quick Ratio(x) 0.33 0.41 0.51 0.54 0.56 0.49 0.44 0.62 0.66 0.77 1.01
Interest Cover(x) 1.82 2.94 4.11 4.31 5.9 4.8 6.53 13.95 8.27 4.05 4.65
Total Debt/Mcap(x) 2.21 1.32 0.65 0.92 0.67 0.9 0.21 0.06 0.1 0.11 0.13

Trident Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 73.19 73.19 73.19 73.19 73.19 73.68 73.68 73.68 73.68 73.68
FII 2.55 2.66 2.63 2.73 2.84 3.02 2.98 3.06 3.16 3.07
DII 0.06 0.05 0.06 0.08 0.09 0.1 0.11 0.15 0.19 0.23
Public 24.21 24.11 24.12 24.01 23.88 23.2 23.23 23.12 22.97 23.03
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Trident News

Trident Pros & Cons

Pros

  • Debtor days have improved from 53.69 to 41.23days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • The company has delivered a poor profit growth of 1% over past five years.
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