Trident (TRIDENT) Q2 26/27 earnings summary

Executive summary

• Consolidated Q2 FY27 total income was ₹17,371 mn; EBITDA rose 45.25% YoY to ₹3,365 mn, margin expanded 653 bps to 19.37%, and net profit rose 93.09% to ₹1,755.8 mn.

• Consolidated Q2 revenue was INR 17,194.8 million, down from INR 17,871.7 million YoY; EPS was ₹0.34 versus ₹0.18.

• Board approved in principle an INR 4,650 crore capacity expansion and modernization program spanning yarn, sheeting, paper and renewable energy.

Financial highlights

• Consolidated Q2 total income declined 3.67% QoQ; EBITDA rose 6.36% QoQ to ₹3,365 mn and PBT increased 7.51% to ₹2,325 mn.

• Standalone Q2 revenue was INR 17,169.9 million versus INR 17,851.7 million YoY; net profit rose to INR 1,706.3 million from INR 924.1 million.

• Consolidated Q2 net profit was INR 1,755.8 million versus INR 909.3 million; H1 net profit was INR 3,336.7 million versus INR 2,308.9 million.

• Standalone EBITDA rose 42.34% to ₹3,298 mn; EBITDA margin was 19.01%, up 616 bps YoY, and PBT margin was 13.10%, up 615 bps.

• H1 standalone revenue was INR 34,986.7 million versus INR 34,854.0 million; standalone EBITDA margin was 18.06%, PBT margin 12.36% and EPS ₹0.63.

Segment performance

• Standalone Q2 textile revenue was ₹14,291 mn, down 7.10% YoY; EBIT rose 81.72% to ₹2,619 mn and margin expanded 896 bps to 18.32%.

• Paper & Chemical Q2 revenue rose 16.61% YoY to ₹2,879 mn; EBIT declined 20.40% to ₹343 mn and margin fell 553 bps to 11.90%.

• Q2 revenue mix was 83% Textile and 17% Paper & Chemical; textile mix included yarn, bed and bath linen.

• Standalone H1 yarn revenue was INR 19,731.2 million and segment result INR 3,370.2 million; towel revenue was INR 12,029.9 million and result INR 603.5 million.

• Standalone H1 bedsheet revenue was INR 6,128.5 million and segment result INR 871.9 million; paper and chemicals revenue was INR 5,852.8 million and result INR 866.6 million.