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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Trident Ltd

About the Company - Trident Ltd

Trident Ltd. is a Public Limited Listed company incorporated on 18/04/1990 and has its registered office in the State of Punjab, India. Company’s Corporate Identification Number(CIN) is L99999PB1990PLC010307 and registration number is 010307. Currently Company is involved in the business activities of Spinning, weaving and finishing of textiles. Company’s Total Operating Revenue is Rs. 6919.18 Cr. and Equity Capital is Rs. 509.60 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - Spinning - Cotton BlendedTrident Group, Sanghera Punjab 148101corp@tridentindia.com
http://www.tridentindia.com
Management
NamePosition Held
Mr. Rajinder GuptaChairman Emeritus
Mr. Deepak NandaManaging Director
Mr. Rajiv DewanInd. Non-Executive Director
Mr. Anthony De SaInd. Non-Executive Director
Ms. Usha SangwanInd. Non-Executive Woman Director
Prof. Rajeev AhujaDirector
Mr. Raj KamalDirector

Trident Ltd. Share Price Update

Share PriceValue
Today₹44.28
Previous Day₹44.91

Basic Stock Data of Trident Ltd

Market Cap 21,327 Cr.
Current Price 41.8
High / Low52.9/25.0
Stock P/E50.6
Book Value 8.14
Dividend Yield0.85 %
ROCE11.9 %
ROE11.0 %
Face Value 1.00

Data Source: screener.in

Competitors of Trident Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Pashupati Cotspin Ltd 140 Cr. 91.6128/90.037.9 72.30.82 %5.59 %3.74 % 10.0
Nagreeka Exports Ltd 115 Cr. 36.744.9/15.611.9 36.70.00 %3.82 %2.92 % 5.00
Mohini Health & Hygiene Ltd 101 Cr. 55.597.0/45.614.8 52.00.00 %12.1 %7.92 % 10.0
Shiva Texyarn Ltd 208 Cr. 160201/107 97.00.00 %%% 10.0
Aananda Lakshmi Spinning Mills Ltd 11.1 Cr. 31.831.8/7.142.07 55.10.00 %33.8 %% 10.0
Industry Average115.02 Cr75.1213.3362.620.16%11.06%2.92%9.00

Trident Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,3031,3451,4821,6921,9801,8701,6801,4381,6411,5731,4941,7981,835
Expenses1,0611,1081,0981,2811,5741,5321,4181,2971,3671,3051,2621,5571,572
Operating Profit242237384411406338262141274269231240263
OPM %19%18%26%24%21%18%16%10%17%17%15%13%14%
Other Income4-28310-2375587111514
Interest13232520221919201922323540
Depreciation83888787788176787880898990
Profit before tax1499727531428424417248186173122130146
Tax %25%22%25%25%26%26%25%22%22%24%25%31%25%
Net Profit11276207235211181129371441319190109
EPS in Rs0.220.150.410.460.410.360.250.070.280.260.180.180.21

Trident Ltd Quarterly Chart

Trident Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,7203,3183,8413,7373,6664,6254,5595,2494,7284,5316,9986,3326,700
Expenses2,4202,7633,1093,0752,9363,7403,7084,2663,8823,7055,4785,3865,696
Operating Profit3005557326617308858529838468261,5209471,003
OPM %11%17%19%18%20%19%19%19%18%18%22%15%15%
Other Income2022123433107634420-18162547
Interest172235210206145141118112111728680130
Depreciation208261268321337412404364334337333313349
Profit before tax-59812651682814393925504213981,116579572
Tax %26%39%26%30%14%23%32%32%19%24%25%24%
Net Profit-4349194118242337266372340304834442422
EPS in Rs-0.140.160.620.230.480.660.520.730.670.601.640.860.83
Dividend Payout %0%0%5%26%19%22%28%40%53%60%22%42%

Trident Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)213.95%295.92%-39.18%105.08%39.26%-21.07%39.85%-8.60%-10.59%174.34%-47.00%
Change in YoY Net Profit Growth (%)0.00%81.96%-335.09%144.26%-65.83%-60.32%60.92%-48.45%-1.99%184.93%-221.34%

Trident Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:7%
3 Years:10%
TTM:1%
Compounded Profit Growth
10 Years:25%
5 Years:11%
3 Years:9%
TTM:-14%
Stock Price CAGR
10 Years:41%
5 Years:49%
3 Years:47%
1 Year:48%
Return on Equity
10 Years:13%
5 Years:14%
3 Years:15%
Last Year:11%

Trident Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital306311311509509498498498498510510510510
Reserves3423955749471,9272,2592,2282,4752,5232,8193,3353,6833,641
Borrowings2,2842,2401,8622,5803,5032,8492,7982,4361,9911,5621,5971,4421,664
Other Liabilities3353414344725915786397477648811,0481,1941,215
Total Liabilities3,2663,2873,1814,5076,5296,1846,1636,1565,7765,7726,4896,8297,030
Fixed Assets2,1481,9681,7962,8644,6934,3453,9023,7173,6813,7913,7134,0944,426
CWIP62836222621231771321456483368300
Investments566411531721051151981281200
Other Assets1,0571,2271,2341,3901,7021,6111,9692,1091,8221,9152,6912,3662,303
Total Assets3,2663,2873,1814,5076,5296,1846,1636,1565,7765,7726,4896,8297,030

Trident Ltd Reserves and Borrowings Chart

Trident Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 4163807475445329994766561,2145059031,426
Cash from Investing Activity -615-100-173-114-1,199-167-188-51-43-155-343-1,160
Cash from Financing Activity 211-285-574-432667-808-268-643-862-570-387-410
Net Cash Flow12-5-0-212320-38309-220172-144

Trident Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days262625202530374621362716
Inventory Days117137114142191127148152156185143117
Days Payable413339414728272834545058
Cash Conversion Cycle10213010012016912815816914316712175
Working Capital Days525746518258858848937946
ROCE %11%17%11%9%10%9%12%10%10%23%12%

Trident Ltd Financial Efficiency Indicators Chart

Trident Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters73.02%73.02%73.02%72.94%72.94%72.94%72.94%72.94%73.19%73.19%73.19%73.19%
FIIs1.68%1.60%2.14%2.48%3.13%3.17%2.59%2.36%2.43%2.47%2.56%2.55%
DIIs0.02%0.01%0.01%0.02%0.01%0.05%0.05%0.04%0.04%0.05%0.05%0.06%
Government0.92%0.92%0.92%1.87%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public22.40%22.48%21.99%20.87%22.13%22.05%22.65%22.90%23.09%23.03%22.95%22.96%
Others1.96%1.96%1.92%1.82%1.79%1.79%1.76%1.76%1.25%1.25%1.25%1.25%
No. of Shareholders5,45,8476,39,0658,75,17515,61,15017,35,24118,14,05818,78,77819,14,28419,15,80919,18,10820,04,43619,83,667

Trident Ltd Shareholding Pattern Chart

No. of Trident Ltd Shareholders

Trident Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal Nifty Midcap 150 Index Fund5974780.212.84
Nippon India ETF Nifty Midcap 1505329060.212.54
Nippon India Nifty Midcap 150 Index Fund5014810.212.39
Mirae Asset Nifty Midcap 150 ETF2821230.211.34
ICICI Prudential Nifty Midcap 150 Index Fund1448980.210.69
SBI Nifty Midcap 150 Index Fund1374590.210.65
ICICI Prudential Nifty Midcap 150 ETF1303580.220.62
Aditya Birla Sun Life Nifty Midcap 150 Index Fund730570.210.35
Motilal Oswal Nifty 500 Index Fund527060.040.25
Navi Nifty Midcap 150 Index Fund481830.210.23

Trident Ltd ROCE Trend

Trident Ltd EPS Trend

Trident Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.0010.00
Basic EPS (Rs.)0.881.670.610.687.47
Diluted EPS (Rs.)0.881.6767.200.687.47
Cash EPS (Rs.)1.482.291.261.3614.77
Book Value[Excl.RevalReserv]/Share (Rs.)8.237.546.536.0759.68
Book Value[Incl.RevalReserv]/Share (Rs.)8.237.546.536.0759.68
Revenue From Operations / Share (Rs.)12.4313.738.899.49105.36
PBDIT / Share (Rs.)1.913.011.651.7520.73
PBIT / Share (Rs.)1.292.360.981.0813.42
PBT / Share (Rs.)1.142.190.780.8511.04
Net Profit / Share (Rs.)0.861.630.590.687.46
NP After MI And SOA / Share (Rs.)0.861.640.590.687.46
PBDIT Margin (%)15.3321.9318.5118.3819.67
PBIT Margin (%)10.3917.1711.0711.3212.73
PBT Margin (%)9.1315.948.788.9810.47
Net Profit Margin (%)6.9611.906.707.267.07
NP After MI And SOA Margin (%)6.9611.916.717.187.08
Return on Networth / Equity (%)10.5121.689.1411.2412.50
Return on Capital Employeed (%)12.2726.7912.7713.1215.42
Return On Assets (%)6.4512.845.275.886.03
Long Term Debt / Equity (X)0.190.080.070.220.32
Total Debt / Equity (X)0.320.400.440.520.70
Asset Turnover Ratio (%)0.941.130.780.790.85
Current Ratio (X)1.401.270.991.031.12
Quick Ratio (X)0.650.610.430.490.56
Inventory Turnover Ratio (X)2.882.912.082.262.54
Dividend Payout Ratio (NP) (%)40.8943.150.0061.5735.21
Dividend Payout Ratio (CP) (%)23.9130.840.0031.0617.79
Earning Retention Ratio (%)59.1156.850.0038.4364.79
Cash Earning Retention Ratio (%)76.0969.160.0068.9482.21
Interest Coverage Ratio (X)12.2017.8011.637.848.72
Interest Coverage Ratio (Post Tax) (X)6.5410.665.654.104.14
Enterprise Value (Cr.)15248.8628363.408529.993368.315646.51
EV / Net Operating Revenue (X)2.414.051.880.711.08
EV / EBITDA (X)15.7018.4810.173.885.47
MarketCap / Net Operating Revenue (X)2.253.871.580.440.68
Retention Ratios (%)59.1056.840.0038.4264.78
Price / BV (X)3.407.042.150.701.20
Price / Net Operating Revenue (X)2.253.871.580.440.68
EarningsYield0.030.030.040.160.10

Trident Ltd Profitability Ratios (%)

Trident Ltd Liquidity Ratios

Trident Ltd Liquidity Ratios (%)

Trident Ltd Interest Coverage Ratios (X)

Trident Ltd Valuation Ratios

Fair Value / Intrinsic Value of Trident Ltd

Fair Value: ₹45.69

The stock is undervalued by 9.31% compared to the current price ₹41.8

*Investments are subject to market risks

Strength and Weakness of Trident Ltd

StrengthWeakness
  1. The company has shown consistent growth in sales (4.08 cr) and profit (314.46 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 3.83 and average Dividend Yield of 12.54%.
  2. The stock has a low average ROCE of 11.17%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 65.42, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 131.83, which may not be favorable.
  5. The company has higher borrowings (2,216.00) compared to reserves (2,088.31), which may suggest financial risk.

Should I Buy Trident Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Trident Ltd:
    1. Net Profit Margin: 6.96%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.27% (Industry Average ROCE: 9.28%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 6.54
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.65
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 50.6 (Industry average Stock P/E: 23.94)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.32
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Trident Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE