Trident reports weak production in March

Trident on Friday (10 April) said production declined in its home & textiles division and paper & chemicals division during March 2020.

In the home & textiles division, the production of bath linen tumbled 37.91% to 2,745 metric tonnes in March 2020 over 4,421 metric tonnes in March 2019. The production of bed linen fell 21.3% to 1.81 million metres in March 2020 as against 2.30 million metres in March 2019. Yarn production fell 37.41% to 6,327 metric tonnes in March 2020 compared with 10,108 metric tonnes in March 2019.

In the paper & chemicals division, the production of paper slumped 29% to 9,615 metric tonnes in March 2020 as against 13,541 metric tonnes in March 2019. Production of chemical fell 25% to 6,291 metric tonnes in March 2020 over 8,367 metric tonnes in March 2019.

On 24 March 2020, the company said that it has temporarily shut down its manufacturing facilities and offices, as per the guidelines issued by the Central Government due to the COVID-19 outbreak. The company further added that the adverse impact due to this shut down is not immediately assessable and depends on further directions from the government.

Shares of Trident rose 2.82% at Rs 4.37 on Thursday (8 April). The stock has declined 10.63% in last one month compared to a 12.56% fall in BSE Sensex.

Trident's consolidated net profit fell 27.7% to Rs 79.79 crore on a 12.9% decline in net sales to Rs 1,135.59 crore in Q3 December 2019 over Q3 December 2018.

Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer.

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