The shares of one of the leading textile manufacturers in green after it receives an approval for one of its patents from the United States Patent & Trademark office.
At 1:03 p.m the shares of Trident Limited were trading at Rs. 36.60 down 0.54 percent from its previous day close price of Rs. 36.80 and its market capitalization is Rs. 18,651 Crores.
As per the company’s filing, Trident Limited has been granted a patent for “Wet Processing Technique for producing Terry Fabrics” by the United States Patent & Trademark Office.
The patent comprises of an improved method for wet processing to produce improved terry fabrics exhibiting enhanced softness, bulk, absorbency, reduced lint loss, hand-feel, improved pile standing ability without use of Poly Vinyl Alcohol (PVA).
The grant of this patent by the United States Patent & Trademark Office provides further recognition of the quality of innovation carried out by Trident.
The company’s revenue declined 9.51 percent from Rs. 6,997.66 Crores in FY22 to Rs. 6,332.26 Crores in FY23, accompanied by decreasing profits of Rs. 833.75 Crores to Rs. 440.74 Crores.
It has reported a return on equity (ROE) of 10.99 percent and a return on capital employed (ROCE) of 12 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 73.19 percent stake, the Domestic Institutional Investors hold 0.05 percent and the Foreign Institutional Investors (FII) hold 2.56 percent.
Trident Limited is engaged in manufacturing, trading and selling of textiles, chemicals and paper.
Written by: Bharath K.S
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