Trident (TRIDENT) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 total income was INR 17,205 Mn, down 3.1% year-over-year and 1.66% sequentially.

• Net profit for Q2 FY25 stood at INR 835 Mn, a 34.61% decline year-over-year but up 13.45% sequentially.

• EBITDA margin for Q2 FY25 was 13.72%, slightly lower than 14.3% in Q2 FY24.

• Exports contributed 57% of revenue in Q2 FY25, consistent with the previous year.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024, were reviewed and approved, with an unmodified auditor opinion.

Financial highlights

• Q2 FY25 EBITDA was INR 2,361 Mn, down 7.05% year-over-year and 1.01% sequentially.

• PBT for Q2 FY25 was INR 991 Mn, a 40.94% decrease year-over-year.

• EPS for Q2 FY25 was 0.17, down from 0.25 in Q2 FY24 but up from 0.15 in Q1 FY25.

• Cash profit for Q2 FY25 was INR 1,742 Mn, down 19.28% year-over-year.

• Standalone revenue from operations for Q2 FY25: ₹17,091.7 million, down from ₹17,611.8 million in Q2 FY24; H1 FY25: ₹34,438.6 million, up from ₹32,281.1 million in H1 FY24.

Outlook and guidance

• Focus on margin improvement through product innovation, capacity utilization, and digitization.

• Initiatives to improve ESG ratings and expand product range and global footprint.

• Targeting 30% female workforce representation by 2030.

• Management expects to receive the balance of insurance claims related to the Dhaula facility fire in the subsequent quarter.

• No material adjustments anticipated from ongoing tax investigations; business operations continue undisrupted.