A one of the leading players in home textile in India and a vertically integrated textile and paper manufacturer rose 3.6 percent to Rs 34 apiece after the company received a patent for fabric manufacturing.
Trident Ltd shares were trading at Rs 33.35 a share on the NSE at 3:11 p.m., up Rs 0.55 or 1.68 percent, with a market capitalization of Rs 16,955 crores.
According to a company’s BSE filing, Trident Limited has been granted a patent by the European Patent Office for “Process of manufacturing a fabric with homogeneous pores.” With this patent, the firm will be able to provide its Air Rich towels with the ability to absorb water and dry faster than standard cloth on the global market.
Trident Limited, the flagship company of the Trident Group, is a prominent maker of yarn, bath and bed linen, wheat straw-based paper, chemicals, and captive power, as well as the world’s largest agro-based paper manufacturer.
In FY 22-23, Company’s revenue declined by 9.5 percent year on year to Rs 6,332 crore, while net profit increased by 47 percent to Rs 441 crore.
The company’s profitability ratios in fiscal year 22-23 are as follows: net profit margin of 6.96 percent, operating margin of 10.39 percent, return on equity of 10.51 percent, and return on capital employed of 12.27 percent.
As per latest shareholding pattern, Promoters own 73.19 percent stake of the company and retail investors own 23.03 percent.
Written By Omkar Chitnis
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