Slide 1: Exchange filing cover letter
TRIDENT/CS/2022 November 15, 2022 National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: TRIDENT BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code: 521064 |NCD: 960173 Sub: Earnings’
Slide 2: Earnings Presentation Q2FY23 / H1FY23
Trident Limited Home Textile I Paper EARNINGS PRESENTATION Q2FY23/ H1FY23
Slide 3: Safe Harbour
Safe Harbour This presentation has been prepared by Trident Limited (the “Company”) 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 of
Slide 4: Index
Index 01 COMPANY OVERVIEW INDUSTRY OVERVIEW 02 QUARTERLY & 03 OPERATIONAL OVERVIEW SUMMARY OF FINANCIAL STATEMENTS 04 COMMITTED TO ESG & 05 WOMEN EMPOWERMENT WAY FORWARD 06 Earnings Presentation Q2 FY23 3
Slide 5: Company Overview
COMPANY OVERVIEW Earnings Presentation Q2 FY23 4
Slide 6: Trident's – A distinctive Entity
Trident’s – A distinctive Entity A Leading Integrated home textile manufacturers with 30+ year track record World’s Largest wheat straw-based paper manufacturer B USD 3bn+ 150+ Business Group countries #1 in North India for Branded Copier segment C World-class Infrastructure & Technology 48% Exports
Slide 7: Trident's Transformation Journey
Trident’s Transformation Journey Going Forward Make Trident a National Brand • E-commerce Website YOUR TITLE 01 • Retail Outlets • Social Media Presence Started as a • Diversified products Commodity Player Digital Trident – Completing Industry 4.0 Journey Inception: Started as a yarn manufactu
Slide 8: Awards & Recognition
Awards & Recognition Earnings Presentation Q2 FY23 7
Slide 9: Creating differentiation across brands & products
Creating differentiation across brands & products Domestic home Domestic home textile textile brands brands International home textile International textile brands brands Marquee Customers Marquee Customers Bed Bed Bath Bath Trident’s home textile brands are across a range of luxury, premium, essent
Slide 10: Snapshot Q2 FY23
Snapshot Q2 FY23 Total Income EBITDA Margin PBT Margin Free Cashflow INR 14,239 Mn 10.37% 3.55% INR 5,130 Mn Capacity Utilization Revenue Segment Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 120% 15% 98% 100% 24% 90% 87% 86% 80% 66% 60% 51% 50% 52% 44% 27% 58% 40% 24% 20% 0% Yarn Towel Sheeting Paper Bed & Bath
Slide 11: Shareholding and Dividend Payout
Shareholding and Dividend Payout Key Market Statistics (12th November 2022) (INR) Shareholding Pattern (30th September 2022) BSE Ticker 521064 NSE Ticker Trident Promoters 25% Bloomberg code TRID:IN Reuters TRIE.NS Non-Promoters- Non Public 2% Market Price 37.25 Market Cap (in million) 189,826 73% P
Slide 12: Competitive Advantage
Competitive Advantage Competitive cost of production Textiles: A dominant industry ▪ Competitive labor, power and raw material cost ▪ Employs 45 million people across the value chain ▪ Access to advanced technology under textile upgradation fund ▪ Strong government support to industry Favorable Gove
Slide 13: Industry Overview
INDUSTRY OVERVIEW Earnings Presentation Q2 FY23 12
Slide 14: Global Industry Overview
Global Industry Overview 1000 -8% 70 In 2020, the global 838 60 textile and apparel 776 66 775 trade was US$ 775 bn., which was 8% 52 51 50 113 lower compared to 641 49 2019 due to impact 42 43 600 of COVID. 482 It is expected to 444 416 reach US$ 1 trillion 348 by 2025 growing at a CAGR of 3% from
Slide 15: India's Domestic Industry Overview
India’s Domestic Industry Overview 200 190 200 180 13 180 160 160 42 30% 140 140 -25% India’s domestic textile 120 120 106 & apparel market is 99 estimated to be US$ 99 100 8 100 8 bn. in 2021-22 which 20 80 has recovered 30% from 80 19 80 7 2020-21. 135 18 60 50 60 The market is expected 4 to grow
Slide 16: India's share in US Market
INDIA’s share in US Market US Imports of Cotton Sheets US Imports of Terry Towels 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% 2022* 2022* 2018 2019 2020 2021 2018 2019 2020 2021 (Jan-Sep) (Jan-Sep) ROW 13% 12% 14% 11% 12% ROW 16% 16% 16% 16% 17% Pakistan 1
Slide 17: Quarterly & Operational Highlights
QUARTERLY & OPERATIONAL HIGHLIGHTS Earnings Presentation Q2 FY23 16
Slide 18: Quarterly Highlights (P&L)
Quarterly Highlights (P&L) Y-o-Y Q-o-Q Particulars Q2FY23 Q2FY22 Q1 FY23 Change Change Total Income 14,239 16,727 (14.9%) 16,717 (14.8%) EBITDA 1,477 4,129 (64.2%) 2,588 (42.9%) Depreciation 775 867 (10.6%) 760 2.0% Finance Cost 196 199 (1.5%) 180 (8.9%) Profit before Tax 506 3,063 (83.5%) 1,648 (69
Slide 19: Quarterly Margins (P&L)
Quarterly Margins (P&L) 24.7% EBITDA MARGIN 15.5% Revenue Exports 10.4% 18000 100% 95% 90% 85% Q2 FY22 Q1 FY23 Q2 FY23 Exports as of Revenue 16800 80% 69% 75% 70% 19.5% 65% EBIT MARGIN 15600 60% 55% 10.9% 51% 50% 4.9% 48% 45% 14400 40% 35% Q2 FY22 Q1 FY23 Q2 FY23 30% 25% 13200 20% 13.7% 15% 10% 1672
Slide 20: Quarterly Highlights (B/S)
Quarterly Highlights (B/S) NET DEBT/ EQUITY Particulars Q2 FY23 Q2 FY22 Q1 FY23 (in times) 0.29 Net Worth 37,596 35,695 39,039 0.24 0.20 Short Term Loans 6,267 9,206 7,575 Q2 FY22 Q1 FY23 Q2 FY23 Long Term Loans 5,235 3,802 4,189 Gross Debt 11,503 13,008 11,764 NET DEBT/ EBITDA Cash & Cash Equivalen
Slide 21: Segment Highlights (P&L)
Segment Highlights (P&L) Y-o-Y Y-o-Y Particulars Q2 FY23 Q2 FY22 H1FY23 H1FY22 Revenue Change Change Home Textile 24% Revenue 10,775 14,067 (-23.4%) 24,211 26,889 (10.0%) EBIT (196) 2,977 (-106.6%) 1,051 5,636 (81.4%) EBIT Margin (1.82%) 21.16% (2298 Bps) 4.34% 20.96% (1662 Bps) Paper 76% Revenue 3,
Slide 22: Summary of Financial Statements
SUMMARY OF FINANCIAL STATEMENTS Earnings Presentation Q2 FY23 21
Slide 23: Historical P&L Statement
Historical P&L Statement Recent performance and growth Particulars FY19 FY20 FY21 FY22 H1FY23 ✓ Total Revenue for the H1FY23 stood at INR Total Income 52,653 47,240 45,353 69,415 30,956 30,956 Mn with sales decline of 2% as compared to H1FY22 owing to primarily the EBITDA 10,231 8,653 8,270 15.100 4
Slide 24: Historical Balance Sheet
Historical Balance Sheet As on As on As on As on As on Particulars March 31, 2019 March 31, 2020 March 31, 2021 March 31, 2022 September 30, 2022 CAPITAL AND LIABILITIES Capital 5,096 5,096 5,096 5,096 5,096 Reserves and surplus 24,216 24,573 28,070 32,876 32,500 Borrowings 24,358 19,518 15,355 15,7
Slide 25: Financial Performance
Financial Performance REVENUE EBITDA 21.7% 58% 67% 150 00 35. 0% 56% 65% 145 00 700 00 695 00 54% 80. 0% 140 00 135 00 13.1% 690 00 685 00 680 00 675 00 30. 0% 670 00 130 00 665 00 660 00 49% 655 00 650 00 645 00 125 00 640 00 635 00 630 00 625 00 70. 0% 620 00 120 00 615 00 610 00 19.4% 605 00 600
Slide 26: Ratios Summary
Ratios Summary Type Parameters FY20 FY21 FY22 H1FY23 Net Debt/Equity 0.54 0.42 0.34 0.20 Solvency Ratios Net Debt/EBITDA 1.87 1.72 0.86 1.27 Interest Coverage Ratio 7.81 11.49 17.62 10.78 Current ratio 1.04 0.99 1.25 1.33 Fixed asset turnover 1.30 1.21 1.89 0.87 Operational Ratios Inventory days 70.
Slide 27: Segment Overview
Segment Overview Textiles Paper Largest Player in terms of Terry Towel Capacity & One of the largest Highest Operating Margin among players in Home Textile Space in India Key Listed Players in India Revenue Split between segments FY23* 50% 29% 22% FY22 58% 28% 14% FY21 64% 20% 16% FY20 54% 26% 20% F
Slide 28: Segmental Performance Annual
Segmental Performance Annual Revenue Mix Capacity -Towels (in 000’tons) Capacity-Bed Linen (In Mn meters) 45% 53% 61% 100 70% 49% 48% 88% 100 100 % Textiles 90 60% 90 80% 90% 18.4% 80 80 80% 63% 700 00 22. 0% 43% 60% 61% Textiles 50% 44% 70 70 70% 600 00 17. 0% 60 60 60% 8.0% 10.0% 40% 6.0% 500 00 8
Slide 29: Committed to the ESG & Women Empowerment
COMMITTED TO THE ESG & WOMEN EMPOWERMENT Earnings Presentation Q2 FY23 28
Slide 30: Environment Friendly Entity
Environment Friendly Entity Zero liquid discharge Water Around 95% Water Recovery, 15% • Cleaning of Narmada river every quarter in order to provide less water consumption than clean water and area to the locals resulting removal of 100 benchmark of 50 meter/cubic per ton MT waste over period of 3 y
Slide 31: Committed towards Social Cause
Committed towards Social Cause Uplifting the differently abled • Impacting 10000+ youths through short/long term skill development through Takshashila Academy. • Sponsored education of 900+ students and supply of books provided to more than 10000 children. Opportunities for Farmers • Motivated farme
Slide 32: Efficient Corporate Governance
Efficient Corporate Governance 1 National Award for Excellence in Corporate Governance 2 times stood among the Top 25 Indian Corporates adopting Good Corporate Governance 3 times National Recognition for Good Corporate Governance India Rating CARE CRISIL D&B AA (Positive Outlook): AA (Positive Outlo
Slide 33: Way Forward
WAY FORWARD Earnings Presentation Q2 FY23 32
Slide 34: Future prospects
Future prospects Vision 2025 3 BHAGs (BIG, HAIRY, AUDACIOUS GOALS) Unlock long term shareholder value OBJECTIVES IMPERATIVES Improve return ratios through capital allocation strategies 1 Expansion of existing businesses through Grow to Rs Grow core business 250,000 Mn by Capitalize on recent gro
Slide 35: CAPEX Plans
CAPEX Plans Particulars Yarn Sheeting Co-Gen Bathlinen Chemicals Existing Capacity Spindles- 5.89 Lacs; Rotors- 7464 1.2 Lacs 49.4 MW 622 Looms 1.1 Lacs TPA and Air Jet – 320 Mtrs/day Existing Capacity Utilization (FY22) 87% 88% 71% 61% 97% Proposed Capacity Addition Spindles- 98,496, Rotors-3600 70
Slide 36: Thank You
THANK YOU GET IN TOUCH Mr. Avneesh Barua/ Mr. Rahul Sharma Investor Relations, Trident Limited Tel: +91 161 5039 999 Fax: +91 161 5039 900 Email: corp.relations@tridentindia.com Visit us @ www.tridentindia.com / www.myTRIDENT.com Earnings Presentation Q2 FY23 35