Share price of this small-cap stock moved up by nearly 7.8 percent to Rs. 39.4 on NSE in the trading session of Monday, compared to the previous closing price of Rs. 36.55, after the
With a market cap of Rs. 19,966 crore, the shares of Trident Limited closed in the green at Rs. 39.18, up by nearly 7.22 percent on BSE.
The company has delivered positive returns of about 39.6 percent in the last one year and nearly 5.5 percent in the last six months. So far in 2024, it has given positive returns of around 7.5 percent.
According to the recent filings on the stock exchanges, the existing capacity of the Bath Linen Business located at Budhni in the state of Madhya Pradesh, has been increased with effect from March 30, 2024.
With an investment of Rs. 132 crores through the mode of term loan and internal accrual, the Bath Linen Business of Trident Limited has added 42 looms to its existing capacity of 622 looms.
The rationale behind the increased capacity was leveraging business expertise, capturing business synergies, increased competitive advantage and meeting increasing demand.
In addition, the company fully redeemed the non-convertible debentures to the debenture holder on March 29, 2024, for a total of Rs. 25 crores plus the applicable interest.
In terms of financials, the revenue from operations of Salasar grew by 2.05 percent QoQ from Rs. 1,798 crore in Q2 FY23-24 to Rs. 1,835 crore in Q3 FY23-24, accompanied by an increase in the net profit by 21.1 percent QoQ, from Rs. 90 crore in Q2 FY23-24 to Rs. 109 crore in Q3 FY23-24.
As of December 2023, FIIs hold 2.55 percent of the shares, while DIIs hold 0.06 percent of the shares in the company, aggregating to 2.61 percent of the institutional holdings.
Trident Limited, the flagship Company of Trident Group, is involved in the manufacturing, trading and selling of textiles (yarn, terry towels & bedsheets) and paper & chemicals.
Incorporated in 1990, the company operates in four major business segments: Yarn, Towel, Bedsheets and Paper & Chemicals with its manufacturing facilities located in Punjab and Madhya Pradesh.
Written by Shivani Singh
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