Trident LimitedNSE: TRIDENT

Unaudited Financial Results for Q1FY26

Jul 24, 2025 at 11:59 AM UTC · Issued by Trident Limited

S.R.B»ciiaoiaCo. LLP

Chartered Accountants

67, Institutional Area

Sector 44, Gurugram - 122 003 Haryana, India

Tel: +91 124 681 6000

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors Trident Limited

I . We have reviewed the accompanying statement of unaudited standalone financial results of Trident Limited (the "Company" including Trident Limited Employee Welfare Trust) for the quarter ended June 30, 2025 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Perfomied by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Based on our review conducted as above and based on the consideration of the review report of other auditor of the Trident Limited Employee Welfare Trust referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

The accompanying Statement of unaudited quarterly standalone financial results includes the financial results of Trident Limited Employee Welfare Trust whose financial results and other financial information reflect total revenues of Rs. 395.2 million, total net profit after tax of Rs. 328.7 million and total comprehensive income of Rs. 328.7 million for the quarter ended June 30, 2025, (also refer note 4 to the financial results) as considered in the Statement which has been reviewed by the auditor of Trident Limited Employee Welfare Trust.

The report of such auditor on financial results and other financial information of Trident Limited Employee Welfare Trust has been furnished to us, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of Trident Limited Employee Welfare Trust is based solely on the report of such auditor. Our conclusion on the Statement is not modified in respect of the above matter.

S.R &ATLlBOIa CO. LLP

Chartered Accountants

Emphasis of Matter: Income tax search

We draw attention to Note 8 of the financial results relating to a search under Section 132 of the Income Tax Act, 1961 conducted by the Income Tax Department at certain locations of the Company including its manufacturing locations and its Indian subsidiaries and residence of few of its employees/key managerial personnel.

Our conclusion is not modified in respect of this matter.

For S.R. BATLIBOI & Co. LLP

Chartered Accountants

ICAI Firm registration number: 30l003E/E300005

per ravin Tulsyan

Partn r

Membership No.: 108044 UDIN: 25 l 08044BMIBGL69I9

Place: Bhopal Date: July 24, 2025

S.R. B rtiaoia Co. ttP

Chartered Accountants

67, Institutional Area

Sector 44, Gurugram - 122 003 Haryana, India

Tel: +91 124 681 6000

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors Trident Limited

We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Trident Limited (the "Holding Company" including Trident Limited Employee Welfare Trust) and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended June 30, 2025 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors . Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Infomiation Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the results of the following entities:

S.No.

Name of Subsidiaries/ Employee Welfare Trust

Relationship

Trident Limited Employee Welfare Trust

Employee welfare trust (included in the

standalone financial results of Trident

LimitedI

Trident Europe Limited

Subsidiary

Trident Global Inc. USA

Subsidiary

Trident Home Textiles Limited

Subsidiarv {till June 17, 2025)

THTL Trading L.L.C

Subsidiary

Trident Group Enterprises PTE. Limited ITGEPL)

Subsidiary

Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance wiih recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

S.R BATiiaoiaCo. LLP

Chartered Accountants

The accompanying Statement of unaudited consolidated financial results includes the interim financial results of Trident Limited Employee Welfare Trust whose interim financial results and other financial information reflect total revenues of Rs. 395.2 million, total net profit after tax of Rs. 328.7 million and total comprehensive income of Rs. 328.7 million for the quarter ended June 30, 2025 (also refer note 4 to the financial results), as considered in the Statement which has been reviewed by the auditor of Trident Limited Employee Welfare Trust. The Statement also includes the unaudited interim financial results and other unaudited financial information, in respect of4 subsidiaries, whose unaudited interim financial results reflect total revenues of Nil, total net loss after tax of Rs. 9.2 million, total comprehensive loss of Rs. 9.2 million, for the quarter ended June 30, 2025, as considered in the Statement which have been reviewed by their respective independent auditors.

The independent auditor's review reports on .financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of Trident Limited Employee Welfare Trust and subsidiaries is based solely on the reports of the other auditors.

Certain of these subsidiaries are located outside India whose financial results and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company's management. Our conclusion in so far as it relates to the amounts and disclosures of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us.

Our conclusion on the Statement in respect of matters stated in paragraph 6 above is not modified with respect to our reliance oti the reports of the other auditors.

Emphasis of Matter: Income tax search

We draw attention to Note 8 of the financial results relating to a search under Section 132 of the Income Tax Act, 1961 conducted by the Income Tax Department at certain locations of the Holding Company including its manufacturing locations and its Indian subsidiaries and residence of few of its employees/key managerial personnel.

Our conclusion is not modified in respect of this matter.

For S.R. Batliboi & Co. LLP

Chartered Accountants

ICAI Firm registration number: 301003E/E300005

per I avin Tulsyan

Partner

Membership No.: 108044

UDIN: 25108044BMIBGM7358

Place: Bhopal Date: July 24, 2025

TRIDENT LIMITED

Registered Office : Trident Grovp, Sarighera, Kamala -148 101

Corporate Identification Number - L9S999PB1990PLC010307

Phone +91-161-5039999 | Fax : +91-161-5039900 | Website : https://www.tridentindia.com | E-Mail ID : Investor@tridentlndia.com

	Quarter Ended		Year Ended
June	March	June	March
30, 2025	31, 2025	30, 2024	31, 2015
3 Months	3 Months	3 Months	12 Months
Unaudited	Audited (Refer	Unaudited	Audited

STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2025

S.No. Particulars

Revenue from operations Revenue from operations

Other income
Total Income (1+ ) _
Expenses
1. Cost of raw materials consumed
2. Purchase of stock-in-trade
3. ChangeS in inventories of finished goods, waste, work-in-progress and stock in trade
4. Employee benefits expense
5. Finance costs
6. Depreciation and amortisation expense
7. Forex (gain)/loss (Including MTMj
8. Other expenses _
  Total expenses _
Profit before tax (3-41
Tax expenses
- Current tax
- Deferred tax charge/(credit) (Refer Note 6)
- Current tax adjustments related to earlier years
- Deferred tax adjustments related to eadier years
Net profit after tax (5-6)

8_ Other comprehensive Income/(loss)

Items that will not be reclassified to profit or loss

Remeasurement (loss)/gain of the defined benefit plan
Income tax related to items that will not be reclassified to profit or loss
Items that will be reclassified to profit or loss
Net movement in effective portion of cash flow hedge reserve
Income tax related to items that may be reclassified to profit or loss

Other comprehensive Income/ s , net of tax

Tota comprehensive Income
Paid-up equit sh e ca it I e lue of INR 1 e h
Other eqUit as e b lance sheet
Earnings per share (EPS) face value (of INR 1/- each) (not annualised Re e ote

- Basic (INR)

Di uted INR

17,002.3

196.2

17.198.5

8,427.3

14.4

(157.3)

2,114.9

311.6

916.8

(28.7)

3,733.1

15,332.1 1666.I

450.9

21.9

2.5 (o.6)

63.0 (15.9j

5,096.0

0.27

Note 10 Below)

18,594.5

182.1

1g.776.6

8,907.0

6.3

706.6

2,31T2

24.2

891.1

23.2

4202.9

17076.5

1.70R1

553.4

(171.7)

1,318.4

109.8

(27.6)

213.6 (S3.8)

142.0

1,560.4

9 0

17,346.9

149.6

17,496.5

8,824.9

21.7

144.0

2,184.8

463.3

906.0

(56.2)

3,992.5

16,481.0

1.015.5

264.2

IS.4

I I

47.3 (11.9)|

35.4

771.3

5 096.0

0.15

69,65g.9

594.1

70.253.0

35,270.4

41.7

639.9

8,914.2

1,294.2

3,620.0

(153.0)

15 929.1 d5,556.5 4.696.5

1,302.0

(275.3)

55.3

(53.8

3,668.3

9.9* (2.5)

(78.8) 19.8|

5 096.0

41 006.8

0.73

See accompa•z›"^9 •otes ro the financial results.

A TRIOEIJTGROIJP

eing deem a Normg/

"J @

8ARN%

TRIDENT LIMITED

STANDALONE SEGMENT WISE REVENUE, RESULTS, SEGMENT ASSETS AND SEGMENT LIABILITIES

S.No.

Particulars

June 30, 2025

Unaudited

Quarter Ended March

31, 2025

Audited (Refer Note 10 Below)

June 30, 2024

Unaudited

Year Ended March 31, 2025

Audited

Segment Revenue
1. Yarn
2. Towel
  cj Bedsheets
  d) Paper and chemicals _
  Total
  Less: Inter segment revenue _ Revenue from operations
Segment results
Profit before finance costs, exceptional items and tax, other unallocable expenditure net off unallocable income
1. Yarn
2. Towel
3. Bedsheets
4. Paper and chemicals Total
  Less:
  1. Finance costs
  2. Other un-allocable expenditure net off un-allocable income
  Profit before tax
Segment Assets
1. Yarn
2. Towel
3. Bedsheets
4. Paper and chemicals
5. Unallocated
  Total Assets _
Segment Liabilities "
1. Yarn
2. Towel
3. Bedsheets
4. Paper and chemicals
5. Unallocated Total abilities
  g,020.3 6,330.6
  3,086.0
  2,598.3
  21,035.2
  4,032.9
  17,002,3
  700.7
  46B.7
  446.5
  733.4
  2W9.3
  311.G
  171.3
  29,910.0
  16,465.9
  6,602.7
  6,669.9
  11,789.8
  71,438.3
  2,811.9
  1,d13.7'
  802.1
  803.9
  4 220
  ,452.1
  9,082.8
  7,485.7
  3,145.7
  2,683.9
  22,398.1
  3 803.6
  18,594.5
  584.0
  607.0
  308.9
  597.9
  2A97.8
  24.2
  373.5
  1.700.1
  29,693.1
  17,200.5
  6,884.5
  6,304.2
  11.211.0
  71 293.3
  1,810.9
  1,935.7
  719.6
  858.0
  4 108.6
  9A32.8
  9,607.0
  6,082.4
  3,569.2
  2,4838
  21,742.4
  4,395.5
  17.346.9
  610.1
  130.2
  693.2
  804.5
  2.MB.0
  463.3
  759.2
  ao1s.s
  30,673.6
  17,751.6
  7,836.4
  6,737.2
  10.11
  17.7
  2,076.4
  2,507.5
  999.9
  693.8
  14.3
  10.191.9
  36,122.4
  26,114.1
  13,353.2
  10,079.4
  85,669.1
  16 010.2
  69,65B•9
  1,788.1
  1,548.4
  1,975.3
  2m608.6
  20.4
  1,294.2
  1,929.7
  4.696.5
  29,693.1
  17,200.5
  6,884.5
  6,304.2
  11,211.0
  71799.3
  1,810.9
  1,935.7
  719.6
  858.0
  },_&106
  9W2.6
  
  Excluding borrowings and interest accrued but not due on borrowings
  
  TR"I"DENTL MITED
  STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2025
  Quarter Ended
  /fRIDEf/
  /y /g in ml//ionJ Year Ended
  S.No.
  1
  2
  3
  4
  Particulars
  - Revenue from operations Revenue from operations
  Other income _
  Total Income (1+2)
  Expenses
  1. Cost of raw materials consumed
  2. Purchase of stock-in-trade
  3. Changes in inventories of finished goods, waste, work-in-progress and stock in trade
  4. Employee benefits expense
  5. Finance costs
  6. Depreciation and amortisation expense
  7. Forex (gain) (Including MTMj
  h Other expenses _
  Total expenses _
  June
  30, 2025
  Unaudited
  17,068.9
  200.1
  17 269.0
  8,427.3
  42.2
  (155.3)
  2,193.3
  313.4
  927.9
  (28.R 3 671.6
  15,391.6
  March 31, 202S
  Audited (Refer
  Note 10 eelow)
  18,643.4
  _ 190.2
  l8 833.6
  8,907.0
  13.6
  731.7
  2,392.3
  26.0
  897.6
  23.1
  4125.2
  17 116.5
  June
  30, 2024
  Unaudited
  17,427.1
  148.7
  17.575.8
  8,824.9
  24.4
  191.7
  2,267.2
  465.3
  916.9
  (56.2)
  3.921.7
  16,555.9
  March 31, 2025
  Audited
  69,870.8
  _ 601.5
  70,472.3
  35,270.4
  60.7
  712.1
  9,220.9
  1,301.8
  3,662.0
  (153.1)
_ Profit before tax 13-4)
1.877.4
1.019.9
Tax expenses

Current tax
Deferred tax charge (Refer Note 6)
Current tax adjustments related to earlier years
_ _- Deferred tax adjustments related to earlier vears 7 , Net profit after tax (5-6)
Other Comprehensive incomers
Items that will not be reclassified to profit or loss
Remeasurement gain of the defined benefit plan
Income tax related to items that will not be reclassified to profit or loss
Items that will be reclassified to profit or loss
Net movement in effective portion of cash flow hedge
reserve
Exchange differences in translating the financial
statements of a foreign operation
Income tax related to items that may be reclassified to

profit or loss

other Comprehensive Income/(loss), net of tax

Totalcomg'rehensive Income f7+81 _
Profit Attributable to: Equity holders of the parent Non-controling Interest Total
Other comprehensive Income Attributable to: Equity holders of the parent
Non-controling Interest Total
Total comprehensive Income Attributable to: Equity holders of the parent
Non-controling Interest
Total _
455.4
21.4
2.5
(0.6)
63.0
S.8
(17.4)
53.3
1.452.9
1,399.G
1 399.6
53.3
53.3
1,452.9
_1,451.9
562.7
(171.3) f8.5)
1,334.2
109.8
(27.6)
213.6
(2.7)
(53.1)
240.0
1.574.2
1,332.6
1.6
4
240.1
(0.1)
240.0
1,572.7
1.5
5 42
266.6
14.4
738.9
47.3
3.7
(12.8)
38.2
_ _ 777.1
737.3
1.6
738.9
37.4
0.8
38.2
774.7
2.4
777.1
1,321.3
(276.1)
46.8
_ (53.8
3,707.3
9.9
(2.5)
(78.8)
3.2
19.0
(49.2)
3,658.1
3,698.8
8.5
7 3
(50.2)
1.0
(49.2#
3,648.6
9.5
1
aPaid u e it sh lre ca i
ge e NR a1 e ch _
5,096.0
9 0 096 0
0 6 0
seOethe e uit b lanc sheet _ _

Earnings per share (EPS) face value (of INR 1/- each) (not

11139

Rannu li eed ne 4 e

- BaNsiRcA

Diluted INR

See accompanying notes to the financial results.

0.27

0.25

0.15

W TRIDENTGROUP

0.73

a) Yarn 9,020.3

9,082.8

9,607.0

36,122.4

b) Towel 6,389.3

7,528.6

6,153.4

26.300.8

c) Bedsheets 3,093.9

3,151.4

3,578.4

13,378.4

dl Parye and chemicals 2,598.3

2683.9

2 483.8

10 079.4

Total 21,101.8

22 446.7

21,822.6

85,881.0

Less: Inter segment revenue 4.032.9

3,803.3

4 395.5

16 010.2

Revenue from operations

18 §43.4

17.427.1

69.870.8

Segment results

Profit before finance costs, exceptional items and tax, other unallocable expenditure net off unallocable income

a) Yarn 700.7

584.0

610.1

1,788.1

b) Towel 476.4

616.4

136.3

1,591,2

c) Bedsheets 447.7

310.3

694.3

1,981.6

d) Paper and chemicals 733.4

59 9

804.6

2 608.6

Total 2G58.2

2.108.6

2,45.3

7.969.5

Less:

a) Finance costs 313,4

26.0

465.3

1,301.8

b) Other un-allocable expenditure net off un-allocable 167.4

income

365.5

760.1

1,922.2

Profit before tax 1677.4

1,717.5

1.019.9

4.745.5

3 I Segment assets

a) Yarn 29,910.0

29,693.1

30,673.6

29,693.1

b) Towel 1ti,873.0

17,664.6

18,143.0

17,664.6

c) Bedsheets ti,650.8

6,926.1

7,881.3

6,926.1

d) Paper and chemicals 6,669.9

6,304.2

6,737.2

6,304.2

e1 Unallocated 11603.9

1 19 2

0 088 0

1 0 2

Total Asseu

71.607.2

73.523.1

71,607.2

Segment lIabiIit1es '

2,g11.9

1,810.9

2,076.4

1,810.9

b) Towel

1,G93.7

1,844.1

2,495.2

1,844.1

c) Bedsheets

782.0

703.3

986.2

703.3

d) Paper and chemicals

803.3

858.0

693.8

858.0

e) Unallocated

4.530.9

4 423.2

247.1

4,423.2

Total liabilities

10,622.4

9.639.5

10A987

9,639.5

- ---

TRIDENT LIMITED

' r.a '. • i

CONSOLIDATED SEGMENT WISE REVENUE, RESULTS, SEGMENT ASSETS AND SEGMENT LIABILITIES

5.NO. Particulars

June

30,2025

Unaudited

Quarter Ended

March 31, 2025

Audited (Refer Note 10 Below)

(INR in mi//ionj

Year Ended

June March

30, 2024 31, 2025

Unaudited Audited

Segment revenue

Excluding borrowings and interest accrued but not due on borrowings

/k RIDENT GRoue A

Being Dileent is Nomal ,_

TRIDENT

NOTES TO RESULTS:

These standalone and consolidated financial results of Trident Limited ("the Company") have been prepared in accordance with the recognition and measurement principles as laid down in Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. These results are available on the Company's website https://www.tridentindia.com.

The above standalone and consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on July 24, 2025, and have been reviewed by the Statutory Auditors of the Company and have expressed an unmodified opinion on these unaudited standalone and consolidated financial results.
During the quarter ended June 30, 2025, the Board of Directors have declared and paid the interim dividend of 50% (INR 0.50/-per Equity Share of INR 1/- each).

The Company had constituted Trident Limited Employees Welfare Trust ('Trust') to acquire, hold and allocate/transfer equity shares of the Company to eligible employees of the employee share purchase scheme from time to time on the terms and conditions specified under the Scheme. The financial results of the Trust have been included in the standalone and consolidated financial results of the Company in accordance with the requirements of Ind AS and the cost of such treasury shares has been presented as a deduction in Other Equity. The number of equity shares (which are lying with Trust) have been reduced while computing basic and diluted earnings per share.

Pursuant to approval of shareholders of the Company obtained in the year ended March 31, 2024, the Company has implemented Trident Limited General Employee Benefits Scheme - 2023 to enable usage of any excess funds that trust may receive by selling unappropriated shares or from any other sources.

The trust has sold shares in the open market for which the profit earned (net of taxes) has been recorded in Other Equity and the details for each period presented are below:

Number of shares

Quarter ended June 30, 2025

(Unaudited) 15,072,214

Quarter ended March 31, 2025 (Audited) 38,454,228

Quarter ended June 30, 2024

(Unaudited) Nil

Year ended March 31, 2025 (Audited) 47,973,426

Profit recorded as Other Equity (net of tax) (INR-

million)

307.2

576.0

Nil

841.4

During the current quarter, the Company approved disinvestment in the entire shareholdings held in Trident Home Textiles Limited ("THTL"), a wholly owned subsidiary of the Company, to Lotus Home textiles Limited. An agreement for sale of equity shares has been executed on June 17, 2025 and shares were transferred at a consideration amounting to INR 10.69 million. Consequently, THTL ceased as the subsidiary of Trident Limited w.e.f. June 17, 2025.
The Finance (No. 2) Act, 2024 had made certain changes in tax treatment of capital gains. As a result, there was a change in method of recognizing and measuring deferred tax assets and liabilities related to capital gains wherein indexation benefit was discontinued, and tax rate has been revised to 12.5%. Accordingly, there was a reversal in deferred tax liability amounting to INR 391.6 million in relation to revaluation of land which was accounted during based on effective tax rate method during quarter/ year ended March 31, 2025.
TRIDENT
On May 2, 2025, the Company received the final subsidy sanction orders against its expansion projects for yarn and Terry towels. The eligibility of said subsidy is effective from December 29, 2023, and March 30, 2024, for Yarn expansion and Terry towel projects respectively. Accordingly, the Company had accrued the cumulative Interest subsidy income of INR 367 million in the quarter ended March 31, 202S, which was netted off with finance cost.
In the month of October 2023, the Income Tax Department ('the department') conducted a search under Section 132 of the Income Tax Act, 1961 at certain locations of the Company including its manufacturing and Indian subsidiaries and residence of few of its employees/key managerial personnel. During the search proceedings, the Company provided necessary information and responses to the department. Also, the department has taken certain documents, few laptops and data backups for further investigation. The business and operations of the Company continued without any disruptions. The department continued with its post search proceedings for various assessment years, and the company had received assessment orders for two assessment years (AY 2021-22 and AY 2022-23) whereby certain additions were made. The company had filed appeals against the said orders before learned Commissioner of Income Tax (Appeals) and the management is hopeful of getting favorable orders from appellate authorities. There are no updates in the quarter ended June 30, 2025. Based on the foregoing, management is of the view that no material adjustments are required to these unaudited standalone and consolidated financial results.
During the quarter ended March 31, 2025, Trident Group Enterprises Pte. Ltd. (TGEPL) acquired a wholly owned subsidiary, THTL Trading LLC in Dubai and acquired 24.5% of equity shares of Trident Global Inc. (TGI) from Trident Home Textiles Limited. The Company sold its entire stake of Trident Europe Limited (TEL) (100%) and TGI (73.5%) to TGEPL on January 23, 2025. Pursuant to this acquisition, TEL and TGI became the wholly owned subsidiaries of TGEPL.
The figures for the quarter ended March 31, 2025 were the balancing figures between audited figures in respect of full financial year and the published year to date figures upto the third quarter of the previous financial year.

By Order of the Board of Directors

For Trident Limited

(Deepak Nanda) Managing Director DIN: 00403335

Date: July 24, 2025

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