Trident Limited
Add to watch list to get report alerts
BSE Code:
521064
NSE Code:
TRIDENT
Business Profile
Business Profile
Abhishek Industries (ABHIIND), the flagship company of the Trident group, is engaged in the segments of yarn, terry towels, paper and chemicals. It was incorporated on April 18, 1990.
The ISO 9001 certified company produces combed, carded, open-end yarns in 100 % cotton and cotton blends. It has a manufacturing facility of 125,952 spindles in Barnala, Punjab and has planned to set up its new spinning-cum-textile facility in Budni with an investment of INR 9.5 billion. This facility will be commissioned by March 2009 and will support 108,000 spindles and 400 looms. The terry towel product range includes designer jacquard, beach, bath, gym, kitchen and specialty terry towels. The company is among the top five terry towels producers in the world.
The paper and chemicals division manufactures writing and printing paper with a manufacturing capacity of 40,000 TPA using wheat straw as raw material. With a production capacity of 400 tons per day after infusion of INR 8 billon on expansion, it will be the biggest paper manufacturing facility in the world based on wheat straw. This division also manufactures sulphuric acid with an installed capacity of 100,000 TPA, co-generates power and caustic soda as byproduct.
Recent awards include the 2006 Supplier of the Year Award by JC Penney Corporation and the SAP Award for Customer Excellence - 2007 for Best Textiles and Apparel Sector Implementation. Subsidiaries include Abhishek Industries Inc. (USA) and Abhishek Europe SA, Switzerland. The company is a leading supplier to global retail majors including Wal-Mart, JC Penny and Harrods. It exports to over 40 countries across 5 continents with over 75 % of exports to the cost-competitive markets of Europe and the US.
The registered office is located at Trident Complex, Raikot Road, Barnala-148101.
Financials
The company reported a steep drop in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company declined 56.12% to Rs 40.63 million from Rs 92.60 million in the same quarter last year. Net sales for the quarter rose 55.40% to Rs 4335.73 million, while total income for the quarter rose 53.95% to Rs 4348.4 million, when compared with the prior year period. It posted earnings of Rs 0.30 a share during the quarter, registering 37.50% decline over previous year period.
Recent Developments
18-MAY-09
The company has sold off holding in Abhishek Europe SA, a subsidiary company situated at Neuchatel by way of transferring 1,000 equity shares on May 18, 2009.
06-OCT-08
The company has announced that it has completed expansion of manufacturing capacities of Terry Towel and modernization cum balancing of textile manufacturing facilities as detailed below at a capital outlay of Rs 2,130 million.
05-MAY-08
Abhishek Industries has opened second retail store, Trident Homescapes, in Ludhiana, Punjab. The store is spread across 2500 sq.ft of shopping area.
21-APR-08
Abhishek Industries has ventured into retail business of home accessories under the brand name of Homespaces and has launched its first outlet in Chandigarh. The group plans to open 300 outlets across India this year. The company has identified ten locations in north India for setting up its outlets and six of them will be set up in Punjab.