Trident gains on decent November 2021 production update

Trident rose 1.75% to Rs 55.10 after the firm announced a satifactory production update for November 2021.

In the home textile division, production of bath linen rose 6.47% to 4,902 metric tonnes (MT) in November 2021 as against 4,604 MT in November 2020. Production of bed linen gained 2.40% to 3.40 million metric (MM) in November 2021 from 3.32 MM in November 2020. Production of yarn jumped 18.55% to 10,894 MT in November 2021 over 9,189 MT in November 2020.

In paper & chemicals division, production of paper rose 5.60% to 12,962 MT in November 2021 as compared with 12,274 MT in November 2020. Production of chemicals climbed 8.68% to 8,877 MT in November 2021 as against 8,168 MT in November 2020.

Meanwhile, the Ludhiana based textile manufacturer announced an exclusive discount on all its products on its website "www.myTrident.com" for its 15 lakh shareholders. This offer is valid from 10 December 2021 until 2 January 2022 wherein each shareholder can avail Rs 2,000 off on a minimum purchase of Rs 5,000 and Rs 4,000 off on a minimum purchase of Rs 10,000.

On a consolidated basis, net profit of Trident rose 122% to Rs 234.59 crore on 44.1% rise in net sales to Rs 1,691.59 crore in Q2 September 2021 over Q2 September 2020.

Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.

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