Financials Trident Limited Bombay S.E.

Equities

TRIDENT

INE064C01022

Textiles & Leather Goods

Market Closed - Bombay S.E. Other stock markets 06:29:15 2024-05-31 am EDT			5-day change	1st Jan Change
36.52 ^INR	-0.90%		-3.54%	+0.66%

May. 31	Trident Invests Additional INR5 Million into Home Textiles Arm	MT
May. 24	Trident Limited Announces Management Resignations, Effective May 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	36,538	21,658	71,598	266,534	139,680	182,408	-	-
Enterprise Value (EV) ¹	36,538	21,658	71,598	266,534	139,680	182,658	182,408	182,408
P/E ratio	9.6 x	-	23 x	31.9 x	31.8 x	53 x	36.5 x	26.1 x
Yield	0.84%	8.47%	2.56%	0.67%	1.29%	0.27%	0.27%	0.27%
Capitalization / Revenue	0.7 x	0.46 x	1.58 x	3.81 x	2.21 x	2.68 x	2.33 x	2.09 x
EV / Revenue	0.7 x	0.46 x	1.58 x	3.81 x	2.21 x	2.68 x	2.33 x	2.09 x
EV / EBITDA	3.69 x	2.55 x	8.7 x	17.6 x	14.8 x	19.4 x	16.4 x	13 x
EV / FCF	6.65 x	2.06 x	41.8 x	49.3 x	21.6 x	-99.5 x	182,408 x	55.3 x
FCF Yield	15%	48.5%	2.4%	2.03%	4.63%	-1.01%	0%	1.81%
Price to Book	0.58 x	0.7 x	2.15 x	6.93 x	3.34 x	4.1 x	3.92 x	3.44 x
Nbr of stocks (in thousands)	5,095,956	5,095,956	5,095,956	4,995,956	4,997,493	4,997,493	-	-
Reference price ²	7.170	4.250	14.05	53.35	27.95	36.50	36.50	36.50
Announcement Date	5/13/19	5/16/20	5/15/21	5/30/22	5/24/23	5/18/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	52,486	47,277	45,306	69,977	63,323	68,088	78,195	87,477
EBITDA ¹	9,892	8,490	8,226	15,123	9,467	9,403	11,136	13,992
EBIT ¹	6,252	5,153	4,857	11,795	6,339	5,753	6,976	9,511
Operating Margin	11.91%	10.9%	10.72%	16.86%	10.01%	8.45%	8.92%	10.87%
Earnings before Tax (EBT) ¹	5,502	4,246	3,978	11,158	5,787	4,768	6,510	9,132
Net income ¹	3,718	3,397	3,044	8,337	4,407	3,495	4,950	6,947
Net margin	7.08%	7.19%	6.72%	11.91%	6.96%	5.13%	6.33%	7.94%
EPS ²	0.7470	-	0.6100	1.670	0.8800	0.6900	1.000	1.400
Free Cash Flow ¹	5,492	10,496	1,715	5,409	6,472	-1,834	1	3,299
FCF margin	10.46%	22.2%	3.79%	7.73%	10.22%	-2.71%	0%	3.77%
FCF Conversion (EBITDA)	55.52%	123.64%	20.85%	35.77%	68.36%	-	0.01%	23.58%
FCF Conversion (Net income)	147.73%	308.98%	56.34%	64.88%	146.83%	-	0.02%	47.49%
Dividend per Share ²	0.0600	0.3600	0.3600	0.3600	0.3600	0.1000	0.1000	0.1000
Announcement Date	5/13/19	5/16/20	5/15/21	5/30/22	5/24/23	5/18/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q4
Net sales ¹	15,732
EBITDA ¹	2,685
EBIT	-
Operating Margin	-
Earnings before Tax (EBT) ¹	1,729
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	5/24/23

¹INR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	5,492	10,496	1,715	5,409	6,472	-1,834	1	3,299
ROE (net income / shareholders' equity)	13%	11.3%	10.4%	23.2%	11%	9.6%	10.9%	13.7%
ROA (Net income/ Total Assets)	6.04%	-	-	-	-	-	-	-
Assets ¹	61,596	-	-	-	-	-	-	-
Book Value Per Share ²	12.40	6.070	6.530	7.700	8.370	8.900	9.300	10.60
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	1,065	1,641	3,334	3,617	7,791	9,100	9,123	6,000
Capex / Sales	2.03%	3.47%	7.36%	5.17%	12.3%	13.45%	11.67%	6.86%
Announcement Date	5/13/19	5/16/20	5/15/21	5/30/22	5/24/23	5/18/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Trident Limited

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

36.5 INR

Average target price

40.5 INR

Spread / Average Target

+10.96%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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