On Thursday this mid-cap stock rose 2.3 after the company announced a capacity expansion. The stock has delivered 48% returns in six months. Currently, the company shares are trading 14% below the 52-week high.
Trident Ltd
Trident Ltd, the company has a market capitalisation of Rs. 19,415 Cr, making it a mid-cap company. On Thursday at 13:40 p.m., the company shares were trading 0.13% down at Rs. 38 on NSE.
According to the company filing, Trident Ltd informed that the existing capacity of the Sheeting Business and Co Gen Power plant at Budhi, Madhya Pradesh has been enhanced with effect from September 27, 2023.
The existing capacity of Sheeting is 1,20,000 Meters/Day and the 49.4 MW Co Gen Power Plant. Now, the company announced the capacity addition of 55,000 Meters/Day and 16.3 MW to the Sheeting business and Co Gen power plant, respectively.
As per the company filing, total revenue declined by 10.6% from Rs. 1,684.6 cr in Q1 FY23 to Rs. 1,505 Cr in Q1 FY24 and for the same period, net profit decreased by 29.3% from Rs. 129.3 Cr to Rs. 91.3 Cr.
As per the latest shareholding information, Promoters hold 73.19%, the public hold 24.29%, DIIs hold 0.05% and FIIs hold a 2.47% stake in the company.
Trident Ltd, the company manufactures terry towels and wheat straws in India. Through its subsidiaries, the company operates in Yarn, Bedsheets and Paper and Chemical Segments. The company earns the majority of its revenue from the towel segment.
Written by Sheshadri N
