Trident (TRIDENT) Q4 24/25 earnings summary

Executive summary

• Trident Limited reported FY25 revenue of INR 70,472 million, with 56% of sales from exports and a continued focus on home textiles, paper, chemicals, and energy.

• The company maintained its position as the world's largest wheat straw-based paper manufacturer and a leading home textile exporter.

• Interim dividend of INR 0.50/share for FY26 was declared, reflecting consistent shareholder returns.

• Audited standalone and consolidated financial results for the year ended March 31, 2025, were approved, showing continued profitability and operational stability.

• Trident's transformation includes digitalization, e-commerce expansion, and securing new patents, strengthening its national and global brand presence.

Financial highlights

• FY25 consolidated total income rose 2.63% YoY to INR 70,472 million; standalone income up 3.46% to INR 70,253 million.

• Q4FY25 consolidated EBITDA margin improved to 15.31% (up 170bps YoY); standalone EBITDA margin at 13.93%.

• Q4FY25 consolidated net profit increased 66.57% YoY to INR 1,334 million; standalone net profit up 69.16% YoY to INR 1,318 million.

• Consolidated net profit after tax for FY25 was INR 3,707.3 million, up from INR 3,499.9 million in FY24.

• Finance costs declined sharply due to interest subsidies, supporting higher profitability.

Outlook and guidance

• Home textile market expected to grow at a 5.54% CAGR globally and 9.84% CAGR in India through 2030.

• Industry trends include resilient export demand, digital manufacturing adoption, and a focus on sustainability and circular economy.

• Government policies, PLI scheme, and FTAs (e.g., India-UK) are expected to boost sector growth.

• The company received final subsidy sanction orders for yarn and terry towel expansion projects, with eligibility effective from December 2023 and March 2024, and accrued INR 367 million in interest subsidy income.

• Management remains optimistic about favorable outcomes in ongoing tax appeals and expects no material impact from recent tax assessments.