The shares of textile manufacturer Trident Ltd. were down 0.65% for the day as of 12:35 IST and were trading at ₹ 38.10 per share. Trident is a diversified mid-cap company with interests in home textiles, paper, energy, FMCG and chemical industries. Its bed & bath linen and yarn business contribute majorly to the revenue. It presently has a market cap of ₹ 19,441 crores and has a global presence.

The stock of the Punjab-based conglomerate has given multi-bagger returns of 134% in the last twelve months. As of Thursday, the RSI indicator for the stock was hovering near 35 points which indicates it is still near its oversold zone.

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For the March quarter ended 2022, its total income rose 37% to ₹ 1,853 crores from ₹ 1,353 crores reported in the same period last year. Supported by exceptional items, the profit after tax increased 129.5% to ₹ 174 crores from ₹ 76 crores in Q4 year-on-year basis. 

On a quarter-on-quarter basis, its EBITDA margin shrank 270 basis points from 20.7% in Q3FY22 to 18.0% in Q4FY22 while exports as a percentage of revenue declined from 71% to 57%. 

The company plans to raise ₹ 1,100 crores through non-convertible debentures and the issuance of equity shares in tranches. 

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For the fiscal year ended 2022, its net debt to equity ratio stood at 0.34. The company has an interest coverage ratio of 17.62.

Analysts at Motilal Oswal have given a buy call on the stock for a target price of ₹ 50 per share. This results in an upside of 29% for the stock. 

Promoters have a 73% stake in the company, followed by public and non-public non-promoters who hold 25% and 2% respectively.

Written by Vikalp Mishra


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