Chartered Accountants
67, Institutional Area
Sector 44, Guruqram - 122 003
Haryana, India
Tel: +91 124 681 6000
Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amendedTo The Board of Directors Trident Limited
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 and nine months ended December 31, 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 accot dance 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 Re›'iew Engagements (SRE) 24 10, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants ofIndia. 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, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition andmeasurement 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 matei rat misstatement.
The accompanying Statement of quarter and nine months ended unaudited 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. 29.6 million and Rs. 458.6 million, total net profit/(loss) after tax of (Rs. 12.1 million) and Rs. 318.9 million and total comprehensive income/(loss) of (Rs. 12.1 million) and Rs. 31 8.9 million for the quarter and nine months December 31, 2025 respectively, 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 have 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 this matter.
Ctiertared Accountants
Emphasis of Matter
We draw attention to Note 7 of the financial results relating to a search under Section 132 of the Income Tax Act, 196 1 conducted by the Income Tax Department in an earlier year, 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: 301003 E/E300005
per Pravin Tuisyan Partner
Membership No.: 108044
UDIN: 26108044VP4'XGN5985
Gurugrair February 09, 2026
S.ggAriiaoiaCo.LLP
Chartered Accountants67, Institutional Area
Sector 44, Guruqram - 122 003 Haryana, India
Tel: +91 124 681 6000
Independent Auditor's Review Report on the Quarterly and Year to Date 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 and nine months ended December 31, 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").2. The Holding Company's Management is i'esponsib1e 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.
3 We conducted our review of the Statement in accordance with the Standard on Revie Engagements (SREJ 2410, "Review of Interim Financial Information 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 specified under Section 143(10) of the Companies Act. 2013 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 standalone
financial results of Trident Limited)
2
Trident Europe Limited
Subsidiary
3
Trident Global Inc. USA
Subsidiary
4
Trident Group Enterprises Pte. Limited
Subsidiary
5.
THTL Trading L.L.C
Subsidiary
6.
Trident Home Textiles Limited
Subsidiary (till June 17, 2025)
7.
Trident Global Corp Limited (TGCL)
Associate (w.e.f. September 09, 2025)
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 with 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 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. 29.6 million and Rs. 458.6 million, total net profit/(loss) after tax of (Rs. 12.1 million) and Rs. 318.9 million and total comprehensive income/(loss) of (Rs. 12.1 million) and Rs. 318.9 million for the quarter and nine months ended December 31, 2025 respectively, as considered in the Statement which has been reviewed
S.R &ATtiaoia Co. LLP
Chartered Accountants
by the auditor of Trident Limited Employee Welfare Trust. The Statement also includes the unaudited inter-im financial results and other unaudited financial information, in respect of 4 subsidiaries, whose unaudited interim financial results reflect total revenues of Rs. NIL million and Rs. NIL million, total net loss after tax of Rs. 1 8.8 million and Rs. 47.3 million, total comprehensive loss of Rs. 18.7 million and Rs. 40.9 million for the quarter and nine months ended December 31, 2025 respectively as considered in the Statement which have been reviewed by their respective independent auditors. The Statement also includes the unaudited interim financial results and other unaudited financial information, in respect of 1 associate, whose unaudited interim financial results include Group's share of net profit ofRs. 30.2 million and Rs. 44.2 million and Group's share of total comprehensive income ofRs.
30.2 million and Rs. 44.2 million for the quarter ended December 31, 2025, and for the period from September 09, 2025, to December 31, 2025, respectively, as considered in the Statement whose interim financial results have been reviewed by its 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 balances and affairs 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 is not modified in respect of matters stated in paragraph 6 above with respect to our reliance on the reports of the other auditors.
- Emphasis of Matter:
We draw attention to Note 7 o1 the financial results relating to a search under Section 132 of the Income Tax Act, 1961 conducted by the Income Tax Department in an earlier year, 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 'Pravin Tulsyan' Partner
Membership No.: 108044 UDIN: 26108044IDSUBO3223
Place: New Delhi
Date: February 09, 2026
Registered Office : Trident Group, Sanghera, Barnala -148 101 corporate Identification Number - L99999PB1990PLC010307
Phone *91-161-5039999 } Fax : +91-161-5039•••I ^ bsite : www.tridentindia.com I E-Mail ID : investor@tridentindia.com
STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NJNE MONTHS ENDED DECEMBER 31, 2025 | |||||||
S.No. | Paniculars | Quarter Ended | Period Ended | near Ended | |||
December 31, 2025 | September 30, 2025 | December 31, Z024 | December 31, 1025 | December 31, 2024 | March 31, 2025 | ||
3 Months | 3 Months | 3 Months | 9Months | 9 Months | 12 Months | ||
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
1 3 | Revenue from operations Revenue from operations Other income | 1S,658.0 204.3 | 17,851.7 182.9 | 16,625.8 152.6 | 50,512.0 583.4 | 51,064.4 412.0 | 69,6ss.g 594.1 |
Total Income (1+2) | tS,862.3 | 18,034.6 | 16,778.4 | 51,095.4 | 51,476.4 | 70,253.0 | |
4 | Expenses
| ||||||
8,109.9 | 9,112.8 | ".8,231.^ | 25,650.0 | 26,363.4 | 35,270.4 | ||
10.5 | 11.0 | 6.4 | 35.9 | 35.4 | 41.7 | ||
344.0 | 478.1 | 367.3 | 664.8 | (66.7 | 639.9 | ||
2,089.6 | 2,173.7 | 2,253.1 | 6,378.2 | 6599.0 | 8,914.2 | ||
253.9 | 246.8 | 344.7 | 812.3 | 1,270.0 | 1,294.7 | ||
707.8 | 817.8 | 915.1 | 2,442.4 | 2,728.9 | 3,620.0 | ||
36.8 | 3.1 | (72.5 | 11.2 | (176.2 | (153.0 | ||
3,714.6 | 3,938.8 | 3,743.0 | 11,386.5 | 11,726.2 | 15,929.1 | ||
Total expenses | 16,782.1 | 15,7885 | 67,381.3 | 48,480.0 | 65,556.5 | ||
5 | Profit before tax (3-4) | 595.2 | 1,252.5 | 989.9 | 2,996.4 | 4,696.5 | |
6 | Tax expenses | ||||||
- Current tax | 98.3 | 282.0 | 222.1 | 831.2 | 748.6 | 1,302.0 | |
| 7S.5 (85.2 | 46/ | (13.1 55.3 | 143.8 (85.2 | (103.6 55.3 | (275.3 55.3 | |
- Deferred tax adjustments related to earlier years | 84.0 | (53.8 | 84.0 | (53.8 | (53.8 | ||
7 | Net profit after tax (5-6) | 422.6 | 924.1 | 779.4 | 2,740.3 | 2,349.9 | 3,668.3 |
8 | Other comprehensive Income/(loss) | ||||||
Items that will not be reclassified to profit or loss
Other comprehensive Income/(loss), net of tax | (14.1 3.5 108.1 (27.2 | 11.5 (2.9 (375.2 94.5 | (35.4 8.9 (266.6 67.1 | (0.1 (204.1 51.4 | (99.9 25.1 (292.4 73.6 | 9.9 (ZS (78.8 19.8 | |
70.3 | (272.1 | (152.8) | (293.6 | (51.6 | |||
9 | Total comprehensive income (7+8) | 492.9 | 652.0 | " 553.4 | 2,587.5 | 2,056.3 | 3,616.7 |
10 | Paid-up equity share capital (Face value of INR 1/- each) | 5,096.0 | 5,096.0 | 5,096.0 | 5,096.0 | 5,096.0 | 5,096.0 |
11 | Other equity as per balance sheet | 41,006.8 | |||||
12 | Earnings per share (EPS) face value (of INR 1/- each) (not annualised) (Refer note 4) | ||||||
- Basic (INR) | 0.08 | 0.18 | 0.15 | 0.54 | 0.47 | 0.73 | |
- Diluted (INR) | 0.08 | 0.18 | 0.15 | 0.54 | 0.47 | 0.73 | |
See accompanying notes to the unaudited financial results. | |||||||
STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FQR THE QUAR7€RAND N1NEMOI'tTHS END£DQECEMBER 31, 2025
S.No.
Quarter 6nded Period Ended
December September December December December 31, 2025 30, Z025 31, Z02S 31, 20ZS 31, Z024
Unaudited Unaudited Unaudited Unacdfted Unaudited
Year Ended March 31, 2Q2S
Audited
Revenue from operations | ||||||
Revenue from operations | 15744.6 | 17,871.7 | 16,670.9 | 50,685.2 | 51,227.4 | 69,870.8 |
2 Other income | 204.5 | 160.7 | 152.7 | 565.3 | 411.3 | 601.5 |
3 Total Income (1+2) | 15,949.1 | 18,032.4 | 16,823.6 | 53.,250.5 | 51,638.7 | 70,472.3 |
4 Expenses | ||||||
a) Cost of raw materials consumed | 8,109.9 | 9,llK8 | 8,231.4 | 25,650.0 | 26,363.4 | 35,270.4 |
b) Purchase of stock-in-trade | 61.5 | 1.1 | 10.4 | 104.8 | 47.1 | 60.7 |
c) Changes in inventories of finished goods, waste, work-in- | 341.6 | 480.9 | 368.2 | 667.2 | (19.6) | 712.1 |
progress and stock in trade | ||||||
d) Employee benefits expense | 2,162.7 | 2,251.5 | 2,324.0 | 6,607.5 | 6,828.6 | 9,220.9 |
e) Finance costs | 2'55.7 | 248.6 | 346.6 | 817.7 | 1,27S.8 | 1,301.8 |
f) Depreciation and amortisation expense | 71&9 | 828.8 | 925.6 | 2,475.6 | 2,764.4 | 3,662.0 |
g) Forex loss/(gain) (Including MTM) | 36.8 | 3.1 | (72.5) | 11.1 | (176.2) | (153.1) |
h) Other expenses | 3,674.3 | 3,880.0 | , 3,672.1 | 11,225.9 | 11,526.8 | 15,652.0 |
Total expenses | 15,361.4 | 16,806.8 | 15,805.8 | 47,559.B | 48,610.3 | 6S,7Z6.B |
5 Profit before share of profit of associate and tax (3-4) | 587. | 1,225.6 | 1,€t17.8 | 3,028.4 | 4,745.5 | |
6 Share of profit of associate | 30.2 | 14.0 | 44.2 | |||
7 Profit before tax (5+6] | 617.9 | J,2Z9.6 | 3;734.9 | 3,028.4 | 4,745.5 | |
8 Tax expenses | ||||||
- Current tax | 100.6 | 284.6 | 227.4 | 841.6 | 758.6 | 1,321.3 |
- Deferred tax charge/(credit) | 7.6.1 | 45.7 | (12.1) | 143.2 | (104.8) | (276.1) |
- Current tax adjustments related to earlier years | (85.2) | 55.3 | (85.2) | 55.3 | 46.8 | |
- Deferred tax adjustments related to earlier years | 84:0 | (53.8) | 84.0 | (53.8) | (53.8) | |
9 Net profit after tax (7-8) | 442.4 | 909.3 | 8&1.0 | 2,754.3 | 2,373.J | 3,707.3 |
10 Other Comprehensive Income/(loss) | ||||||
Items that will not be reclassified to profit or loss | ||||||
- Remeasurement gain/(loss) of the defined benefit plan | (14.1) | 11.5 | (35.4) | (0.1) | (99.9) | 9.9 |
- Income tax related to items that will not be reclassified | 3.5 | (2.9) | 8.9 | 25.1 | (2.5)) | |
to profit or loss | ||||||
Items that will be reclassified to profit or loss | ||||||
- Net movement in effective portion of cash flow hedge | 108.1 | (375.2) | (266.6) | (204.1) | (292.4) | (78.8) |
reserve | ||||||
- Exchange differences in translating the financial | 2.1 | 10.8 | 0.7 | 18.7 | 5.9 | 3.2 |
statements of a foreign operation | ||||||
- Income tax related to items that may be reclassified to | (27.T) | 91.8 | 66.9 | 46.7 | 72.1 | 19.0 |
profit or loss | ||||||
Other Comprehensive Income/(loss), net of tax | 71d | (264.0) | (225.5) | (289.2) | (49.2) | |
11 Total comprehensive income (9+10) | 514.3 | 645.3 | S7s.s | 2,612.5 | 3,658.1 | |
12 Profit Attributable to: | ||||||
Equity holders of the parent | 442.4 | 909.3 | 797.0 | 2,751.3 | 2,366.2 | 3,698.8 |
Non-controling Interest | 4.0 | 6.9 | 8.5 | |||
Total | 442@ | 909.3 | 801.0 | 2,751.3 | 2,373.1 | 3,707.3 |
13 Other Comprehensive Income Attributable to: | ||||||
Equity holders of the parent | 71.9 | (264.0) | (226.0) | (138.8) | (290.3) | (50.2) |
Non-coritroling Interest | 0.5 | 1.1 | 1.0 | |||
Total | 71.9 | (264.0) | (225.5) | (289.2) | (49.2) | |
14 Total Comprehensive Income Attributable to: | ||||||
Equity holders of the parent | 514.3 | 645.3 | 571.0 | 2,612.5 | 2,075.9 | 3,648.6 |
Non-controling Interest | 4.5 | 8.0 | 9.5 | |||
Total | 514.3 | 645.3 | 575.5 | 2,612.5 | 3,658.1 | |
15 Paid-up equity share capital (Face value of INR 1/- each) | 5,096.0 | 5,096.0 | S,096.0 | 5,096.0 | 5,096.0 | 5,096.0 |
16 Other equity as per balance sheet | 41,113.9 | |||||
17 Earnings per share (EPS) face value (of INR 1/- each) (not | ||||||
- Basic (INR) 0.09 | 0.18 | 0.19 | 0.54 | 0.47 | 0.73 | |
- Oiluted (INR) 0.09 | 0.]8 | 0.15 | 054 | 0.47 | 0.73! | |
See occomaarivine notes to the unaudited Jinariciol results. | ||||||
annualised) (Refer note 4)
STANDALONE SEGMENT W!SE REVENUE, RESULTS, SEGMENT ASSETS AND SEGMENT UABILITIES
S.No. Paniculars
Quarter Ended Period Ended
December September December December December 31, 2025 30, 2025 31, 4024 31, 2025 31, 2024
Unaudited Unaudited Unaudited Unaudited Unaudited
Year Ended March 31, 2025
Audited
Segment Revenue a) Yarn | 8,475.3 | 9,236.4 | 8,413.1 | 26,732.0 | 27,039.6 | 36,122.4 | |
bj Towel | 6,133.5 | 7,217.0 | 6,264.2 | 19,681.1 | 18,628.4 | 26,114.1 | |
c) Bedsheets | 2,050.8 | 2,609.8 | 3,115.5 | 7,746.6 | 10,207.6 | 13,353.2 | |
d) Paper and chemicals | 2,361.9 | 2,468.9 | 2,577.1 | 7,429.1 | 7,395.6 | 10,079.4 | |
Total | 19,021.5 | 21,532.1 | 20,369.9 | 61,588.8 | 63,271.2 | 85,669.1 | |
Less: Inter segment revenue | 3,363.5 | 3,680.4 | 3,744.1 | 11,076.8 | 12,206.8 | 16,010.2 | |
Revenue from operations | 17,851.7 | 16,625.8 | S0,512.0 | 01,064.4 | 69,658.9 | ||
2 | Segment results | ||||||
Profit before finance costs, exceptional items and tax, other unallocable expenditure net off unallocable income | |||||||
a) Yarn | 314.8 | 472.4 | 297.3 | 1,487.9 | 1,204.1 | 1,788.1 | |
b) Towel | 412.3 | 778.5 | 373.9 | 1,659.5 | 941.3 | 1,548.4 | |
c) Bedsheets | 59.3 | 190.1 | 341.2 | 695.9 | 1,666.4 | 1,975.3 | |
d) Paper and chemicals | 357.7 | 430.5 | 540.8 | 1,521.6 | 2,010.7 | 2,608.6 | |
Total Less: | 1,144.1 | 1,871.5 | 1,ss3.2 | 5,364.9 | 5,822.5 | 7,920.4 | |
a) Finance costs | 253.9 | 246.8 | 344.7 | 812.3 | 1,270.0 | 1,294.2 | |
b) Other unallocable expenditure net off unallocable | 295.0 | 372.2 | : 218.6 | 838.5 | 1,556.1 | 1,929.7 | |
income | |||||||
Profit before tax | 595.2 | 1,ZS2.5 | 989.9 | 3,714.1 | 2,996.4 | 4,696.5 | |
3 Segment Assets a) Yarn | 29,629.1 | 28,309.8 | 28,161.4 | 29,629.1 | 28,161.4 | 29,693.1 | |
b) Towel | 16,208.0 | 16,717.8 | 17,524.6 | 16,208.0 | 17,524.6 | 17,200.5 | |
c) Bedsheets | 5,664.4 | 6,043.3 | 7,096.4 | 5,664.4 | 7,096.4 | 6,884.5 | |
d) Paper and chemicals | 6,634.7 | 6,264.5 | 6,716.0 | 6,634.7 | 6,716.0 | 6,304.2 | |
e) Unallocated | 15,363.9 | 14,557.2 | 9,880.4 | 15,363.9 | 9,880.4 | 11,211.0 | |
Total Assets | 73,500.1 | 71,892.6 | 69,37&8 | 73,500.1 | 69,378.B | 71,293.3 | |
4 Segment Liabilities " a) Yarn | 3,115.9 | 2,280.2 | 2,659.9 | 3,115.9 | 2,659.9 | 1,810.9 | |
b) Towel | 1,854.4 | 2,125.7 | 2,8S1.5 | 1,854.4 | 2,851.5 | 1,935.7 | |
c) Bedsheets | 693.2 | 692.0 | 861.7 | 693.2 | 861.7 | 719.6 | |
d) Paper and chemicals | 1,192.8 | 991.2 | 1,246.1 | 1,192.8 | 1,246.1 | 858.0 | |
e) Unallocated | 3,865.7 | 4,242.8 | 3,586.0 | 3,865.7 | 3,586.0 | 4,108.6 | |
Total Liabilities | 10,722.0 | 10,331.9 | t1,20S.2 | 10,722.0 | 11,205.2 | 9,432.8 | |
Excluding borrowings and interest accrued but not due on borrowings
S.No.
CONSOLIDATED SEGMENT WISE REVENUE, RESULTS, SEGMENT ASSETS AJiD S5GfVIE IT LtABILN1ES
Qnaner Ended Period Ended
December September December Decemtigr December 31, 20Z5 30,2025 41,2024 31, 2025 31, 20Z4
Unaudited Unaudited 0naudiWd Unaudited Unaudited
/fñfJt in million)
Year Ended March 31, 2025
Audited1 Segment revenue a) Yarn | 8,475.3 | 9,236.4 | 8,413.1 | 26,732.0 | 27,039.6 | 36,122.4 |
b) Towel | 6,209.7 | 7,234.6 | 6,304.0 | 19,833.6 | 18,772.1 | 26,300.8 |
c) Bedsheets | 2,061.2 | 2,612.2 | 3,120.8 | 7,767.3 | 10,226.9 | 13,378.4 |
d) Paper and chemicals | 2,361.9 | 2,468.9 | 2,577.1 | 7,429.1 | 7,395.6 | 10,079.4 |
Total | 21,552.1 | 25,415. | 61,762.0 | 63,434.2 | 85,881.0 | |
Less: Inter segment revenue | 3,363.5 | 3,680.4 | 3,744.1 | 11,076.8 | 12,206.8 | 16,010.2 |
Reuenue from operations | 17,871.7 | 16,670.9 | 50,685.2 | 51,M7A | 69,870.8 | |
2 Segment results | ||||||
Profit before finance costs, exceptional items and tax, | ||||||
other unallocable expenditure net off unallocable income | ||||||
a) Yarn | 314.8 | 472.4 | 297.3 | 1,487.9 | 1,204.1 | 1,788.1 |
b) Towel | 403.0 | 782.3 | 401.4 | 1,661.7 | 974.8 | 1,S91.2 |
c) Bedsheets | 62.7 | 183.4 | 343.4 | 693.8 | 1,671.4 | 1,981.6 |
d) Paper and chemicals | 357.7 | 430.5 | 540.8 | 1,521.6 | 2,010.7 | 2,608.6 |
Total Less: | 1,1381 | 1,868.6 | 1/82.9 | 5,365.0 | 5,861.0 | 7,969.5 |
a) Finance costs | 25 7 | 248.6 | 346.6 | 817.7 | 1,275.8 | 1,301.8 |
b) Other unallocable expenditure net off unallocable | 264.6 | 380.4 | 218.5 | 812.4 | 1,556.8 | 1,922.2 |
income # | ||||||
Profit before tax | 617.9 | 1,23S:6 | 1,017.8 | 3,028.4 | 4,745.5 | |
3 Segment assets a) Yarn | 29,629.1 | 28,309.7 | 28,161.4 | 29,629.1 | 28,161.4 | 29,693.1 |
b) Towel | 16,626.1 | 17,109.9 | 17,875.5 | 16,626.1 | 17,875.5 | 17,664.6 |
c) Bedsheets | 5,726.8 | 6,109.7 | 7,144.4 | 5,726.8 | 7,144.4 | 6,926.1 |
d) Paper and chemicals | 6,634.7 | 6,264.5 | 6,716.0 | 6,634.7 | 6,716.0 | 6,304.Z |
e) Unallocated # | 15,248.5 | 14,390.5 | '9,849.1 | 15,248.5 | 9,849.1 | 11,019.2 |
Total Assets | 73,865J | 72,384.3 | 69 7.46.4 | 73,865.2 | 69,746.4 | 71,607.2 |
4 Segment liabilities a) Yarn | 3,115.9 | 2,280.2 | 2,659.9 | 3,115.9 | 2,659.9 | 1,810.9 |
b) Towel | 1,791.1 | 1,940.9 | 2,777.4 | 1,791.1 | 2,777.4 | 1,844.1 |
c) Bedsheets | 688.3 | 683.2 | 852.4 | 688.3 | 852.4 | 703.3 |
d) Paper and chemicals | 1,192.8 | 991.2 | 1,246.1 | 1,192.8 | 1,246.1 | 858.0 |
e) Unallocated | 4,166.8 | 4,619.1 | 3,915.8 | 4,166.8 | 3,91S.8 | 4,423.2 |
Total liabilities | 10,954.9 | 10,514.6 | 11,451A | 10,954.9 | 11,451.6 | 9,639.5 |
Excluding borrowings and interest accrued but not due on borrowings # Including share of profit and investment in associate
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 generaI!v 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 February 09, 2026, and have been reviewed by the Statutory Auditors of the Company and have expressed a unmodified opinion on these unaudited standalone and consolidated financial results.
During the quarter ended June 30, 2025, the Board of Directors had 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 emploveestock option 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 had sold shares in the open market for which the profit earned (net of taxes) was recorded in Other Equity and the details for each period presented are below:
Particulars
Quarter
ended December 31, 2025
(Unaudited)
Quarter
ended September 30, 2025
(Unaudited)
Quarter
ended December 31, 2024
(Unaudited)
Period
ended December 31, 2025
(Unaudited)
Period
ended December 31, 2024
(Unaudited)
Year ended
March 31,
2025
(Audited)
Number of
shares
Nil
Nil
9,519,198
15,072,214
9,519,198
47,973,426
Profit
recorded as Other Equity (net of taX) (INR-million)
Nil
Nil
265.6
307.2
265.6
841.4
During the quarter ended June 30, 2025, 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 was 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.
C
TRIDEN7 GROUP
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/year ended March 31, 2025, which was netted off with finance cost.
TRiDEhiT
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 Company including its manufacturing and Indian subsidiaries and residence of few of its employees/kev managerial personnel. During the search proceedings, the Ccmpany provided necessar'y information and responses to the department. Also, the department has taken certain documents, few laptops anci data backups for further investigation. The business and operations of the Company continued without any disruptions. The department continued with its post search proc=edii1gs for various assessment years and during the FY 2024-25, the company received assessment orders for two assessment years (AY 2021-22 and AY 2022-23) whereby certain additions were made. The Company received assessment order for AY 2023-24 during the quarter ended December 31, 2025 and assessment orders for AY 2015-16, 2016-17, 2017-18 and 2018-19 after the quarter ended December 31, 2025. The company is filing appeals, wherever aclditions are made, against the said orders before learned Commissioner of Income Tax (Appeals) and the management is hopeful of getting favourable orders from appellate authorities. Based on the foregoing, management is of the view that no material adjustments are required to these unaudited standalone and consolidated tinancial results.
The Companv was ore'iousIy the holding company of Trident Global Corp Limited (TGCL) till September 14, 2G23, when the Compari'/ sold its entire investment, representing 63.95% of equit›/ interest in TGCL for a cash consideration of INR 365.5 million. During the quarter ended September 30, 2025, the Company inv=.sted IFJR 2,5G0 million in TGCL, a related party, through a fresh issue of 2,23,21,428 equity shares (face value INR 1, premium INR 111 per share) by TGCL, constituting 30.42% stake in TGCL, based on independent valuation and Board approval dated September 2, 2025. As the transaction was within the prescribed limits, based on lega! opinion, the management believes that the rejection of subsequent ordinary resolution of shareholders to enhance related party transaction thresholds with TGCL had no impact on this ti ansaction. Based on its assessment, Management had concluded that the above transaction was at arm's length, and the assumptions and valuation methodology underlying the fair value of the investment were appropriate. TGCL was considered as an associate of the Company for the purposes of these financial results.
The Company's business faces risI‹s from international trade dynamics, including export duties levied by the United States on textile imports. The Company has been actively monitoring these developments and engaging with crJstomers through pricing strategies. Subsequent to quarter ended December 31, 2025, pursuant to the recert India-US trade dEaI, United States has reduced tariffs on Indian goods from 50% to 18%, which will ease the overall US Exports. Accordingly, the Company is currently monitoring these developments.
The Government of India, vide Notificatic›n dated November 21, 2025, has notified the Code or Wages, 2019, the lndu.striaI Relations Code, 2020, the Code on Social Security, 2G20, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as "the Labour Codes"), which consolidate and replace existing multiple labcur legislations. In accordance with Ind AS 19 - Employee benefits, changes to employee benefit plans resulting frcm the new labour codes are treated as plen amendments, requiring immediate recognition of the past service cost es expense in the statement of profit and loss. This approach is consistent with the guidance issueé by the Institute uf Chartered Accountants of India.
In view of this, Company has evaluated that as pet the Company's existing compensation structure, basic wages constitute more than 50°.â of total remuneration and concluded that there Is no financial impact o! the standalone finenciai results for the quarter and nine months ended December 31, 2025. The Company continues to monitor devr'iopments in the rules to be not:'fied by regulatory authorities, including clarifications/ aclditional guidance from authorities and 'will continue to assess the accounting implications basis such developments/ guidance.
Triclent Limit
By Oi der of the Board of Directors For
Place: Gurugram, Haryana Date: February 09, 202a
(Deepak Nanda) Managing Director DIN: 00403335
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