TRIDENT LIMITED ANNOUNCES Q4 & FY16 RESULTS

FY2016 Highlights
Net Revenues stood at Rs. 3,706 crore
Achieved Highest-Ever EBITDA of Rs. 751 crore
EBITDA Margin improved to 20.3%
Achieved Highest-Ever PAT of Rs. 228 crore
Cash Accrual up 29% to Rs. 566 crore
Board declares Final Dividend of 3%; Total Dividend stands at 9% in FY2016

May 13,  11.25 AM IST || Pocket Press Release
New Delhi, May 12, 2016: Trident Limited (Trident), flagship Company of USD 1 billion TridentGroup and a leading manufacturer and exporter of Home Textiles & Paper products, announced its financial results for the quarter & full-year ended March 31, 2016.
Financial Highlights for Q4 & FY2016
Q4 FY16
Q4 FY15
Growth %
Particulars
(Rs. crore)
FY2016
FY2015
Growth%
968.0
976.8
(0.9)
Net Revenues
3,705.8
3,779.2
(1.9)
197.5
195.0
1.3
EBITDA
750.9
695.1
8.0
20.4%
20.0%
+40 bps
EBITDA Margin %
20.3%
18.4%
+190 bps
104.4
112.1
(6.9)
EBIT
413.3
373.8
10.6
72.2
58.5
23.4
PBT
276.9
167.8
65.0
55.5
40.4
37.4
PAT
228.4
117.8
93.9
1.07
0.79
35.4
EPS (Diluted & non-annualized) (Rs.)
4.44
2.47
79.8

Performance Overview (FY2016)
  • Net Revenue at Rs. 3,705.8 crore compared to Rs. 3,779.2 crore in FY2015
  • EBITDA higher by 8% to Rs. 750.9 crore from Rs. 695.1 crore in FY2015
    • EBIDTA Margins improved by 190 bps to 20.3% compared to 18.4% in FY2015
  • Finance Cost declined by 34% to Rs. 136.4 crore vis-à-vis Rs. 205.9 crore in FY2015
    • Reduction in base rate, interest equalization scheme benefit and better working capital utilisation significantly reduced the overall interest costs
    • The Company repaid high cost term loan amounting to Rs. 90.5 crore during the year
    • Outstanding term debt as on March 31, 2016 stood at Rs. 3,368.1 crore. Debt at peak level after commissioning of Integrated Bed-Linen project; to notably reduce in the coming years. With major CAPEX cycle over with this project, the Company anticipates to generate significant free cash flows in the coming years leading to notable reduction in long-term Debt
  • PAT increased by 94% to Rs. 228.4 crore compared to Rs. 117.8 crore in FY2015
  • Diluted EPS (non-annualized) came in at Rs. 4.44 per share against Rs. 2.47 per share in FY2015
  • Cash Profits at Rs. 566.1 crore vis-à-vis Rs. 439.1 crore in FY2015
    • Cash EPS (diluted & non-annualized) enhanced to Rs. 11.07 per share compared to Rs. 9.19 per share in FY15

Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said:
“I am happy to share that we reported highest-ever EBITDA and PAT during the financial year. Our EBITDA and Profit After Tax increased by 8% and 94% to Rs. 751 crore and Rs. 228 crore respectively. This was a result of our focus on expanding margins by improving operational efficiencies and other strategic initiatives. During the year, our effort was on improving the penetration of our home textile products in international as well as domestic markets through emphasis on marketing.
The roadmap for the coming year looks promising, as we are geared up to sweat our global scale capacities in the Home Textiles segment. All the initiatives and efforts undertaken by our marketing team would start delivering results in the current year as we expect notable pick-up in volumes and ramp up in utilization levels. With major CAPEX behind us, strong financial performance in the coming years will enable us to generate significant free cash flows, which we believe will create tremendous value for all our stakeholders.”


Segmental Overview
Home Textile
  • Topline stood at Rs. 2,904.4 crore compared to Rs. 2,960.0 crore in FY2015
    • Subdued yarn realizations and enhanced captive yarn consumption moderated topline growth
    • EBITDA increased by 6% to Rs. 537 crore compared to Rs. 505 crore in FY2015
    • EBITDA margin improved by 140 bps to 18.5% compared to 17.1% in FY2015
    • Improvement in margin profile due to healthy margins in Terry Towel business

Paper & Chemicals
  • Topline stood at Rs. 801.5 crore compared to Rs. 818.3 crore in FY2015
  • EBIDTA higher by 10.2% to Rs. 262.9 crore from Rs. 238.6 crore in FY2015
  • EBITDA margin improved by 360 bps to 32.8% as compared to 29.2% in FY2015
    • Improvement in margins due to enhanced contribution from valued-added copier paper
About Trident Limited:
Trident Limited is the flagship Company of TridentGroup, a USD 1 billion Indian business conglomerate and a global player. Headquartered in Ludhiana, Punjab, Trident is the largest terry towel and wheat straw based paper manufacturer in the world. With the establishment of the state-of-the-art manufacturing processes and systems coupled with appropriate human capital and credentials, Trident has frequently received accolades from its patrons in recognition for delivering high quality standards and for its customer-centric approach.

The Company operates in two major business segments: Home Textiles and Paper with its manufacturing facilities located in Punjab and Madhya Pradesh. Trident’s customer base spans over more than 100 countries across 6 continents and comprises of global retail brands like Ralph Lauren, JC Penney, IKEA, Target, Wal-Mart, Macy's, Kohl's, Sears, Sam's Club, Burlington, etc. With export turnover accounting for about 50% of total sales of the Company, TridentGroup has emerged as one of the world’s largest integrated home textile manufacturer.