February 4 2016, 09.28 AM IST || Pocket News Alert
Q3 FY16 Net Revenue stood at Rs. 897.8 crore EBITDA increased by 11% to Rs. 176.6 crore, EBITDA Margin improved to 19.7% Profit After Tax higher by 153% to Rs. 61.0 crore
New Delhi, February 03, 2016: Trident Limited (Trident), flagship Company of USD 1 billion TridentGroup and leading manufacturer and exporter of Home Textiles & Paper products, today announced its financial results for the quarter&nine-monthsended December31, 2015.
Performance Overview (Q3 FY16) Net Revenue at Rs. 897.8 crore compared to Rs. 931.1 crore in Q3 FY15 EBITDA increased by 10.7% to Rs. 176.6 crore from Rs. 159.5 crore in Q3 FY15 o EBIDTA Margins improved by 260 bps to 19.7% compared to 17.1% in Q3 FY15 Finance Cost declined by 53.6% to Rs. 23.0 crore vis-à-vis Rs. 49.6 crore in Q3 FY15 o Reduction in base rate, interest equalization scheme benefit and better working capital utilisation significantly reduced the overall interest costs o The Company repaid high cost term loan amounting to Rs. 53.6 crore during the quarter o Outstanding term debt as on December 31, 2015 stood at Rs. 2,391.7 crore PAT increased by 153.3% to Rs. 61.0 crore compared to Rs. 24.1 crore in the same quarter last year
2
Diluted EPS (non-annualized) at Rs. 1.18 per share Cash Profits at Rs. 142.4 crore vis-à-vis Rs. 103.4 crore in Q3 FY15 o Cash EPS (diluted & non-annualized) at Rs. 2.79 per share
Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said:
“We reported stable topline performance during the quarter backed by our diverse product portfolio in home textiles as well as long-standing relationships with leading global retailers across the globe. This was further supported by raw material prices, better efficiencies & favoring currency. All these factors resulted in robust operating performance leading to strong bottom-line growth.
Our bed-linen facility in Budhni that was commissioned recently is progressing well and we expect to achieve stabilization as per schedule in Q4 FY16. Simultaneously, we are in discussion with customers and looking to build a robust order book pipeline so that we can quickly ramp-up utilizations. With this facility, we are through with our major CAPEX cycle and I would like to reiterate that the management focus going ahead would be on consolidating operations and free-cash-flow generation, which we believe will create tremendous value for all stake holders.”
Segmental Overview
Textiles Topline stood at Rs. 706.7 crore compared to Rs. 731.3 crore in the corresponding quarter last year o Subdued yarn realizations and enhanced captive yarn consumption moderated topline growth EBITDA increased by 8% to Rs. 123.3 crore compared to Rs. 113.3 crore in Q3 FY15 o EBITDA margin improved by 190 bps to 17.4% compared to 15.5% in Q3 FY15 o Improvement in margin profile due to healthy margins in Terry Towel business
Paper & Chemicals Topline stood at Rs. 191.7 crore compared to Rs. 199.6 crore in Q3 FY15 EBITDA margin improved by 70 bps to 28.7% as compared to 28.0% in Q3 FY15 o Improvement in margins due to enhanced contribution from valued-added copier paper
