Trident Limited has informed the Exchange about Investor Presentation
TRIDENT/CS/2021 January 18, 2021
The Manager Listing Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block BandraKurla Complex, Bandra (E) Mumbai – 400 051
Scrip Code:- TRIDENT
The Manager Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001
Scrip Code:- 521064
Dear Sir/ Madam,
Sub: Investors’ Presentation
In terms of Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith copy of Investors’ Presentation with respect to the performance of the Company for the Quarter and Nine Months ended December 31, 2020, for analysts and institutional investors.
We request you to kindly place the same on the website of stock exchange(s), for the information of shareholders.
The same is also available on the website of the Company i.e. www.tridentindia.com.
Thanking you Yours faithfully For Trident Limited
(Ramandeep Kaur) Company Secretary ICSI Membership No.: F9160
Encl: As above
18/01/2021
TL/2021/004974
Trident Limited
Q3 FY21 Earnings Presentation
Safe Harbour
This presentation has been prepared by Trident Limited (the (cid:862)Company(cid:863)(cid:895) for general information purposes only, without regard to any specific objectives, suitability, financial situations and needs of any particular person and does not constitute any recommendation or form part of any offer or invitation, directly or indirectly, in any manner, or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. This presentation does not solicit any action based on the material contained herein. Nothing in this presentation is intended by the Company to be construed as legal, accounting or tax advice.
This presentation has been prepared by the Company based upon information available in the public domain. This presentation has not been approved and will not or may not be reviewed or approved by any statutory or regulatory authority in India or by any Stock Exchange in India. This presentation may include statements which may constitute forward-looking statements. The actual results could differ materially from those projected in any such forward-looking statements because of various factors. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise.
This presentation contains certain forward-looking statements relating to the business, financial performance, strategy and results of the Company and/ or the industry in which it operates. Forward-looking statements are statements concerning future circumstances and results, and any other statements that are not historical facts, sometimes identified by the words including, without limitation "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, including those cited from third party sources, contained in this presentation are based on numerous assumptions and are uncertain and subject to risks. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation and are not guarantees of future performance. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward looking statements are based. Given these uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements.
The information contained in these materials has not been independently verified. None of the Company, its directors, promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this presentation or its contents or otherwise in connection with this presentation, and makes no representation or warranty, express or implied, for the contents of this presentation including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. Past performance is not a guide for future performance. The information contained in this presentation is current, and if not stated otherwise, made as of the date of this presentation. The Company undertakes no obligation to update or revise any information in this presentation as a result of new information, future events or otherwise. Any person/ party intending to provide finance/ invest in the shares/ businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision.
This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law in India.
This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. Neither this document nor any part or copy of it may be distributed, directly or indirectly, in the United States. The distribution of this document in certain jurisdictions may be restricted by law and persons in to whose possession this presentation comes should inform themselves about and observe any such restrictions. By reviewing this presentation, you agree to be bound by the foregoing limitations. You further represent and agree that you are located outside the United States and you are permitted under the laws of your jurisdiction to receive this presentation.
This presentation is not an offer to sell or a solicitation of any offer to buy the securities of the Company in the United States or in any other jurisdiction where such offer or sale would be unlawful. Securities may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, in to or within the United States absent registration under the Securities Act, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Co(cid:373)pa(cid:374)y(cid:859)s securities have not been and will not be registered under the United States Securities Act of 1933, as amended.
Q3 FY21 Earnings Presentation - Trident Ltd.
2
Overview
Textiles
Paper
Largest Player in terms of Terry Towel Capacity & One of the largest players in Home Textile Space in India
Highest Operating Margin among Key Listed Players in India
Revenue Split between segments
9M FY21
FY20
FY19
FY18
54%
51%
48%
66%
18%
16%
26%
30%
Bath & Bed Linen
33%
Yarn
Paper
20%
19%
19%
One of the Leading Business Groups with interest in Textiles and Paper
Q3 FY21 Earnings Presentation - Trident Ltd.
3
Global Presence
Corporate Office :
Ludhiana, Punjab
Manufacturing Facilities at:
Marketing Offices (India):
Marketing Offices (Intl.):
Sanghera & Dhaula, Punjab Budni, Madhya Pradesh
Mumbai, Gurgaon Kolkata, Bengaluru
New York, United States Cheshire, United Kingdom
Snapshot
Key Market Statistics BSE Ticker NSE Ticker Bloomberg Code Reuters Market Price (Rs) Market Cap (INR Crore / USD Mn) Number of Outstanding Shares (Crore) Face Value 52-week High / Low (Rs.)
18-Jan-2021 521064 Trident TRID:IN TRIE.NS 14.90 7593/ 1040 509.60* Rs. 1 per share 16.95/3.05
Shareholding Pattern – 31st Dec, 2020
Category
Dec, 2020
Sep, 2020
Promoters
73.02%
71.84%
Public
26.98%
28.16%
*Each equity share having face value of Rs 10 each has been split into 10 equity shares with face value of Rs 1 each. Accordingly previous year figures have been recomputed
Q3 FY21 Earnings Presentation - Trident Ltd.
4
Evolution
▪ Inception ▪ Set-up 1st Spinning
Unit Facility
▪ Entered Home Textile
with 1st Towel Manufacturing Unit ▪ Set up Spinning Unit - II
▪ Augmented Towel with Unit –II set up ▪ Spinning with Unit-
III set up
▪ Set-up Towel Unit
▪ Set-up Towel Unit-IV & First
– III;
▪ Added Spinning Units– IV, V & VI
Bed Linen Unit
▪ Added Spinning Units - VII,
VIII, IX & X
▪ Launched Textile Brands
1990 - 95
1996 - 00
2001 - 05
2006 - 10
2011 - 16
2001 - 05
2006 - 10
2011 - 16
▪ Acquired Paper Manufacturing Facility along with Captive Power
▪ Set-up Paper Unit II ▪ Set-up Captive Power
Facility
3816
1803
▪ Launched Paper
Brands
4724
47
294
706
S E L I T X E T
R E P A P
) r C R N
I ( e u n e v e R
FY 95 Transformed from a Pure Play Yarn Player to an Integrated Textiles and Paper Manufacturer
FY 10
FY 05
FY 20
FY 00
FY 15
Q3 FY21 Earnings Presentation - Trident Ltd.
3183
9M FY 21
5
Key Highlights - P&L
Q3 FY21
TOTAL INCOME (INR CR)
PBT (INR CR)
1295
19%
Q3 FY20: 1091
204
325%
Q3 FY20 : 48
EBIDTA (INR CR)
PAT (INR CR)
300 95%
Q3 FY20 : 154
160 281%
Q3 FY20 : 42
EBIT (INR CR)
EPS (INR)
217 206%
0.32 0.24
Q3 FY20 : 71
Q3 FY20 : 0.08
▪ Home Textile segment sustained the demand momentum in current quarter with Bath and Bed Linen Segment registering revenue growth of 45% and 81% on Y-o-Y basis respectively
▪ Sheeting
segment utilization during the quarter
registered
100% capacity
▪ Exports
contributed to be robust with 67%
contribution to total revenue for the quarter
▪ Yarn business registered 30% Q-o-Q growth in revenue. 55% of yarn produced got captively consumed within Home Textile segment
▪ Paper business volumes have increased marginally in current quarter however realizations continue to face pressure due to Covid-19 impact
▪ EBITDA Margin stood at 23% in Q3 FY21. Excluding exceptional items, EBIDTA for the quarter stood at 19%
Q3 FY21 Earnings Presentation - Trident Ltd.
6
Key Highlights - B/S
as on Dec 31, 2020
NET DEBT (INR CR)
LT DEBT (INR CR)
987
-627Cr
352
-699Cr
FY20: 1614
FY20 : 1051
NET DEBT/EQUITY
NET DEBT/EBIDTA
0.3
FY20 : 0.5
1.1
FY20 : 1.9
REPAYMENT (INR CR)
CASH PROFIT (INR CR)
870
519
9M FY20: 258
9M FY20 : 554
Net Debt
Q3 FY21 Earnings Presentation - Trident Ltd.
▪ Repayment of Long Term Debt by INR 870 Crores in 9M FY21 including prepayment of term loans amounting to INR 568 Crores
▪ Net Debt reduced significantly as on Dec 31, 2020 to INR 987 Crores as compared to Mar 31, 2020 level of INR 1614 Crores
Particulars
Gross Debt
-Term Loans
Existing Loans
Fresh Capex Loans
-NCD
-Working Capital
31 Mar 20
31 Dec 20
1951.8
1050.9
1024.4
26.5
--
900.0
1614.5
1058.7
226.8
157.2
69.6
125.0
706.9
986.8
7
P&L Statement (S)
Q3 FY21
Q3 FY20
Particulars
Total Income
EBIDTA
Less: Except. Items
Adj. EBITDA
EBITDA %
Depreciation
EBIT
Finance Cost
Profit Before Tax
Profit After Tax
EPS (INR)
Cash Profit
1294.9
300.2
(57.0)
243.1
18.8%
83.0
217.2
13.2
204
159.8
0.32
242.7
1091.4
153.7
--
153.7
14.1%
82.2
71.5
23.4
48.0
41.9
0.08
Shift
18.6%
95.3%
--
32.3%
+470bps
0.9%
203.9%
-43.7%
324.8%
281.3%
--
Q2 FY21
1174.6
226.9
--
226.9
19.3%
83.1
143.8
12.3
131.5
100.2
0.2
183.3
Shift
10.2%
32.3%
--
32.3%
-54bps
-0.2%
51.0%
7.3%
55.1%
59.4%
--
32.4%
9M FY21
3182.7
645.8
(57.0)
588.8
18.5%
248.5
397.4
48.6
348.8
270.1
0.53
518.6
124.1
95.6%
Q3 FY21 Earnings Presentation - Trident Ltd.
8
Dividend Payout Div. Amt. (INR Per Share)
Total Div%
Year
Type
%age
Dividend Payout Ratio
3rd Interim
18%
FY20
36%
0.36/-
2nd Interim
1st Interim
Final
9%
9%
6%
65%
50%
27%
35%
FY19
30%
0.30/-
3rd Interim
12%
2nd Interim
1st Interim
Final
FY17
FY18
FY19
FY20
Historical Dividends (%age of Face Value)
36%
30%
15%
15%
6%
6%
3%
6%
6%
3%
6%
6%
FY18
15%
0.15/-
2nd Interim
1st Interim
Final
FY17
15%
0.15/-
2nd Interim
1st Interim
*Dividend Distribution Policy is available at www.tridentindia.com
FY17
FY18
FY19
FY20
Q3 FY21 Earnings Presentation - Trident Ltd.
9
Management Comment
Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said:
(cid:862)We have continued the positive momentum from the previous quarter and delivered a strong performance in third quarter.
With the launch of (cid:858)VISION 2025(cid:859) , the company will accelerate its growth momentum and the same will greatly enhance our ability to synchronize our efforts for better positioning of the company in all business verticals(cid:863)
Q3 FY21 Earnings Presentation - Trident Ltd.
10
Textile - Financials
Sales (INR Crores)
1108
849
Q3 FY20
Q3 FY21
EBIT (INR Crores)
145
14
Q3 FY20
Q3 FY21
100
90
80
70
60
50
40
30
20
10
0
Towel (cid:894)I(cid:374) 000(cid:859) to(cid:374)s(cid:895)
49%
48%
29%
62%
0 9
0 9
FY19
FY20
0 9
Q1 FY21
0 9
Q3 FY21
Capacity Utilization
Bed Linen (In mn. meters)
63%
60%
38% 101%
2
.
3 4
2
.
3 4
FY19
FY20
2
.
3 4
Q1 FY21
2
.
3 4
Q3 FY21
105 %
95%
85%
75%
65%
55%
45%
35%
25%
15%
5%
120
100
80
60
40
20
0
65%
55%
45%
35%
25%
15%
5%
50
40
30
20
10
0
Yarn (cid:894)I(cid:374) 000(cid:859) to(cid:374)s(cid:895)
98%
92%
49%
97%
5 1 1
5 1 1
FY19
FY20
5 1 1
Q1 FY21
5 1 1
Q3 FY21
Capacity Utilization
105 %
95%
85%
75%
65%
55%
45%
35%
25%
15%
5%
Q3 FY21 Earnings Presentation - Trident Ltd.
11
Paper - Financials
Sales (INR Crores)
233
182
EBIT (INR Crores)
70
39
Q3 FY20
Q3 FY21
Q3 FY20
Q3 FY21
Capacity Utilization (Tonnage Basis)
89%
86%
56%
87%
180
160
140
120
100
80
60
40
20
0
5 7 1
5 7 1
FY19
FY20
5 7 1
Q1 FY21
5 7 1
Q3 FY21
95%
85%
75%
65%
55%
45%
35%
25%
15%
5%
Capacity Utilization
Copier v/s Non-Copier
Q3 FY21
55%
45%
Copier
Non-Copier
Q3 FY21 Earnings Presentation - Trident Ltd.
12
Financial Performance
Net Debt (INR Cr.)
Net Debt
D/E Ratio
Net Worth (INR Cr)
Net Worth
ROE
1.0
1 2 6 2
0.8
4 4 3 2
0.5
4 1 6 1
1.2
1.0
0.8
0.6
0.4
0.2
0.0
0.3
7 8 9
FY18
FY19
FY20
9M FY21
Capital Employed 14.1%
10.6%
12.5%
Capital Employed
ROCE
0 0 8 4
6 7 6 4
4 3 2 4
12.3%
1 0 3 4
16. 0%
14. 0%
12. 0%
10. 0%
8.0 %
6.0 %
4.0 %
2.0 %
0.0 %
300 0
250 0
200 0
150 0
100 0
500
0
500 0
450 0
400 0
350 0
300 0
250 0
13.3%
16.6%
15.0%
10.6%
3 0 0 2
1 4 2 2
6 7 2 2
0 5 5 2
FY18
FY19
FY20
9M FY21
18. 0%
16. 0%
14. 0%
12. 0%
10. 0%
8.0 %
6.0 %
4.0 %
2.0 %
0.0 %
Fixed Assets
Fixed Assets
Assets Turnover
1.1
8 7 0 4
1.4
8 4 8 3
1.2
6 2 8 3
1.1
2 5 7 3
2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.0
300 0
250 0
200 0
150 0
100 0
500
0
420 0
410 0
400 0
390 0
380 0
370 0
360 0
350 0
FY18
FY19
FY20
9M FY21
FY18
FY19
FY20
9M FY21
*Excludes fair valuation of land as per IND – AS
Q3 FY21 Earnings Presentation - Trident Ltd.
13
Environmental, Social and Governance
E
S
G
Zero Liquid Discharge Recover 1900 million litres of water every year. 25% less than benchmark
Save Trees 5000+ tress every day by using wheat straw for paper mfg.
CO2 emissions Each trim of paper saves CO2 emissions equivalent to driving 21.7 miles in car
SRIJANA 10,500 rural women introduced with better and hygienic ways to deal with mensuration
Healthcare Mobile dispensary for door to door service in 33 tribal villages in MP
Water Supply Hand pumps in 11 villages to serve 18500 people with fresh and pure drinking water
Gender Equality 33% women directors on board+ 1:4 female/ male ratio in workforce
Independent Board 50% independent directors+ Independent Chairperson
Healthy Ratings CRISIL/ CARE: AA-/A1+ D&B: 5A1
Q3 FY21 Earnings Presentation - Trident Ltd.
14
For more information about us, please visit www.tridentindia.com
Abhinav Gupta/ Ankit Mahajan Investor Relations, Trident Limited Tel: +91 161 5039 999 Fax: +91 161 5039 900 Email: abhinavgupta@tridentindia.com; ankitmahajan@tridentindia.com
Thank You
Q3 FY21 Earnings Presentation - Trident Ltd.
15