MIRA
INFORM REPORT
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Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
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Name : |
TRIDENT LIMITED (w.e.f. 18.04.2011) |
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Formerly Known
As : |
ABHISHEK INDUSTRIES LIMITED |
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Registered
Office : |
Trident Complex,
Raikot Road, Barnala – 148101, Punjab |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.04.1990 |
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Com. Reg. No.: |
16-010307 |
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Capital
Investment / Paid-up Capital : |
Rs.3108.400 Millions |
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CIN No.: [Company Identification
No.] |
L99999PB1990PLC010307 |
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IEC No.: |
3091002837 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JLDA00951G |
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PAN No.: [Permanent Account No.] |
AABCA4139J |
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Legal Form : |
A Public Limited
Liability Company. The Company’s
Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in manufacturing, trading and sale of yarn, terry towels, paper, chemicals and sale of services. |
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No. of Employees
: |
10000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 28300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a flagship company of the “Trident Group”. It is
established company having satisfactory track record. The management has improved its profitability performance marked by
reporting a decent net profit as against a loss incurred during previous
year. Financial position appears to be decent marked by healthy reserve
during 2013. Further as per indirect source, we found that the management of the
company has entered into the proposed scheme of amalgamation of the subject
with the Trident Corporation Limited and will be effective from April 1, 2014
or any other such date as may be approved by the high court. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of experienced promoters, the subject can be considered for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of mobile
internet users in India by June 2014, according to a report by the Internet
& Mobile Association of India and IMRB International. India had 110
million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled later
in Parliament along with the full Budget. A full Budget for 2014/15 is likely
to be present in July by the new government formed after the General Election.
The government will soon launch an internet spy system, called Netra, to detect
malafide messages. Security agency will deploy the system to capture dubious
voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities = BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate
credit risk |
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Date |
October 2013 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities = A2 |
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Rating Explanation |
Strong degree of safety and low credit risk |
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Date |
October 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-1679-244700)
LOCATIONS
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Registered Office/ Factory 1 : |
Trident Complex,
Raikot Road, Barnala – 148101, Punjab, India |
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Tel. No.: |
91-1679-244700/ 244701/02 |
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Fax No.: |
91-1679-244708 |
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E-Mail : |
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Website : |
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Area : |
109.35 acres |
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Location : |
Owned (Freehold) |
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Corporate / Head Office : |
E-212, Kitchlu Nagar, Ludhiana – 141001, Punjab, India |
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Tel. No.: |
91-161-5039999/5038888 / 2304000 |
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Fax No.: |
91-161-5039900/5038800 |
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E-Mail : |
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Area : |
11001.5 sq yrds |
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Location : |
Owned (Leasehold) |
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Factory 2 : |
Towel, Paper,
Chemical and Energy Plant Trident Complex, Dhaula and Fatehgarh Channa, Punjab, India |
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Area : |
207.64 acres |
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Location : |
Owned (Freehold) |
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Factory 3 : |
Towel, Paper,
Chemical and Energy Plant Trident Complex, Fatehgarj Channa, Punjab, india |
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Area : |
345.82 acres |
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Location : |
Owned (Freehold) |
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Factory 4 : |
Railway Siding Village Seikka, Barnala, Punjab, India |
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Area : |
29.8 acres |
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Location : |
Owned (Freehold) |
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Factory 5 : |
Yarn Plant Budni, Post Office, Pilikara, District – Sihore – 466 445, Madhya
Pradesh, India |
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Tel. No.: |
91-7564-280844 |
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Fax No.: |
91-7564-280875 |
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Area : |
29.72 acres |
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Location : |
Owned (Leasehold) |
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Factory 6 : |
Yarn Plant Trident Complex, Budni, Madhya Pradesh, India |
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Area : |
138.33 acres |
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Location : |
Owned (Freehold) |
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Factory 7 : |
Site for Garment
Plant C – 9,
Industrial Area, Mandideep Phase II,Tehsil, Goharganj, District Raisen,
Madhya Pradesh, India |
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Area : |
24435 sq mtrs |
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Location : |
Owned (Leasehold) |
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Branch Offices : |
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Branch 1 : |
A-25/ 15-16, DLF, Phase 1, Gurgaon, Haryana, India |
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Tel. No.: |
91-124-2567943-47 |
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Fax No.: |
91-124-2567948 |
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Branch 2 : |
6 Fort, Vijay Society (2nd Floor), 1/3 Gola Lane, Opposite Dr. D N Road, Behind Central Camera, Mumbai-400001, Maharashtra, India |
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Branch 3 : |
SCO 20-21, Setcor-9, Madhya Marg, Chandigarh-160009, India |
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Area : |
367.52 sq yards |
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Location : |
Rented |
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Branch 4 : |
Plot No. 3 situated at Nadir Colony, Bhopal, Madhya Pradesh, India |
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Area : |
2900 sq ft |
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Location : |
Owned (Leasehold) |
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Branch 5 : |
C – 185 ‐186 Industrial Area, Phase VIII, Mohali,
Punjab, India |
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Area : |
8867 sq yds |
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Location : |
Owned (Leasehold) |
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US Office : |
295 Fifth Avenue, Room 1112, New York NY 10016 USA |
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Email : |
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Area : |
2900 sq ft |
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Location : |
Leasehold |
DIRECTORS
As on 31.03.2013
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Name : |
Mr. Rajinder Gupta |
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Designation : |
Director |
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Address : |
E-212, Kitchlu Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
55 Years |
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Qualification : |
Advanced Management Program from Harvard Business School, USA |
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Date of Anointment : |
15.05.2013sss |
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DIN No.: |
00009037 |
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Other
Directorship :
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Name : |
Mrs. Pallavi Shroff |
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Designation : |
Director |
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Address : |
S-270, Greater Kailash II, New Delhi, India |
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Date of Birth/Age : |
57 Years |
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Qualification : |
L.L.B, M.M.S |
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Experience : |
30 Years |
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Date of Anointment : |
28.03.2002 |
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DIN No.: |
00013580 |
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Other
Directorship :
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Name : |
Dr. Mohamad Abdul Zahir |
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Designation : |
Director |
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Address : |
95, New Rajguru Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
71 Years |
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Qualification : |
PhD |
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Date of Anointment : |
25.09.2010 |
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DIN No.: |
00002973 |
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Other
Directorship :
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Name : |
Mr. Rajiv Dewan |
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Designation : |
Director |
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Address : |
96 F, Rishi Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Chartered Accountant |
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Date of Anointment : |
14.05.2005 |
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DIN No.: |
00007988 |
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Other Directorship
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Name : |
Mr. Sanjay Jain |
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Designation : |
Director |
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Address : |
N 26, IInd Floor, Malviya Nagar, New Delhi, India |
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Date of Birth/Age : |
51 Years |
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Qualification : |
B.Com, PGDRRM |
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Name : |
Mr. Vikas Pratap |
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Designation : |
Director |
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Address : |
H No 561, Sector 10, Panchkula, Haryana, India |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Master of Science and Advance Training in Computer Software and
Management. |
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Name : |
Mr. Deepak Nanda |
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Designation : |
Director |
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Address : |
H No 561, Sector 10, Panchkula, Haryana, India |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Master of
Science and Advance Training in Computer Software and Management |
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Date of Appointment : |
12.11.2013 |
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DIN No.: |
00403335 |
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Other
Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Arun Goyal |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Pawan Jain |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
As on 31.12.2013
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
51443833 |
16.55 |
|
|
120484000 |
38.76 |
|
|
120484000 |
38.76 |
|
|
171927833 |
55.31 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
171927833 |
55.31 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
258572 |
0.08 |
|
|
7715596 |
2.48 |
|
|
7974168 |
2.57 |
|
|
|
|
|
|
71267375 |
22.93 |
|
|
|
|
|
|
29101468 |
9.36 |
|
|
15594399 |
5.02 |
|
|
14971869 |
4.82 |
|
|
14971869 |
4.82 |
|
|
130935111 |
42.12 |
|
Total Public shareholding (B) |
138909279 |
44.69 |
|
Total (A)+(B) |
310837112 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
310837112 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing, trading and sale of yarn, terry towels, paper, chemicals and sale of services. |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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|
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No. of Employees : |
10000 (Approximately) |
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|
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Bankers : |
·
State Bank of India, 2nd Floor, Main Branch
Building Fountain Chowk, Civil Lines, Ludhiana, Punjab, India Tel. No.: 91-161-2449081 /
2449069 ·
State Bank of India, Industrial Finance Branch, Dholewal Chowk, Ludhiana, Punjab,
India ·
Punjab National Bank, Large Corporate Branch, Bhagwati Tower, RK Road, Cheema Chowk,
Ludhiana, Punjab, India ·
Canara Bank,
Bharat Nagar Chowk Ludhiana, Punjab, India ·
State Bank of Patiala, Commercial Branch, Miller
Ganj, Ludhiana, Punjab, India ·
Corporation Bank, Pakhowal Road, Ludhiana,
Punjab, India ·
Oriental Bank of Commerce, Overseas Branch B‐XV‐136, Jandu Tower, Miller Ganj, G.T. Road,
Ludhiana, Punjab, India ·
State Bank of Travancore, Commercial Branch, K.G.
Marg, New Delhi, India ·
State Bank of Mysore, 3,4 and 5, DDA Building,
Nehru Place, New Delhi, India ·
Syndicate Bank, Corporate Finance Branch Sarojini
House 6, Bhagwan Dass Road, New Delhi, India ·
Allahabad Bank, IIFB Branch 165, Ind. Near Cheema
Chowk, Ludhiana, Punjab, India ·
Indian Bank, 1601, Kalsi Nagar, G.T. Road, Ludhiana,
Punjab, India ·
Bank of India, Ludhiana Mid Corporate Branch 579‐R, 1st Floor, Model Town, Ludhiana‐141002, Punjab, India ·
IDBI Bank Limited.
Indian Red Cross Society Building, 1, Red Cross Road, New Delhi, India ·
Exim Bank, Chandigarh Representative Office First
Floor, PHD House Dakshin Marg, Sector 31‐A, Chandigarh,
India ·
Indian Overseas Bank, Sainik Rest House Katchery
Road, Ludhiana, Punjab, India ·
State Bank of Bikaner and Jaipur, Specialised SSI
Branch, G.T. Road, Ludhiana, Punjab, India ·
State Bank of Hyderabad, SSI Branch, Sona
Complex, 15/179, G.T. Road, Miler Ganj, Ludhiana, Punjab, India |
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|
|
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Facilities : |
Long Term Borrowings Term loans Term loans from banks and financial institutions
are secured by way of equitable mortgage created or to be created on all the
present and future immovable properties including all land, buildings,
structures, all plant and machinery attached thereon of the Company and
hypothecation of all the movable properties including movable machinery
spares, tools and accessories, etc., present and future, subject to prior
charges created and / or to be created in favour of the Company's bankers on
stocks of raw materials, semi-finished and finished goods, consumable stores
and other movable, as may be required for working capital requirements in the
ordinary course of business. The mortgages and charges referred to above rank
pari-passu among the lenders Includes Rs.1145.800 millions (previous year
Rs.1391.500 million) buyers credits loan taken by the Company for a period of
up to 3 years from foreign banks against term loans sanctioned by Indian
banks. As per agreed terms, these buyer credit loans would be repaid to
foreign banks by Indian banks out of term loan amount sanction to the Company
by these Indian banks. Vehicles loans Vehicle loans are secured by
hypothecation of vehicles acquired against such loans. Short Term Borrowings Cash credits/working capital loans Cash credit / working capital
loans are secured by hypothecation of raw materials, semi finished and
finished goods, stock-in-process, consumable stores, other movable assets and
book debts, present and future, of the Company. The limits are further
secured by way of second pari passu charge on the immovable properties of the
Company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex,
DLF City Phase-II, Gurgaon-122002, Haryana, India |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
|
|
|
Cost
Auditors : |
|
|
Name : |
Ramanath Iyer and Company Cost Accountants |
|
|
|
|
Tax
Auditors : |
|
|
Name : |
S C Vasudeva and Company Chartered Accountants |
|
|
|
|
Enterprise that
controls the Company : |
Madhuraj Foundation (directly or indirectly holds majority
voting power) Address : SCO 20‐21, Sector 9‐D, Madhya
Marg, Chandigarh ‐ 160009, India |
|
|
|
|
Enterprises that
are controlled by the Company, i.e. subsidiary companies : |
Trident Global Corp Limited |
|
|
|
|
Enterprises under the
common control as the Company : |
· Trident Group Limited · Trident Corporation Limited · Trident Capital Limited · Abhishek Ventures and Projects Limited |
|
|
|
|
Enterprise on which
company personnel and their relatives : |
·
Lotus Integrated Texpark Limited ·
Trident Global Inc. |
CAPITAL STRUCTURE
As on 21.09.2013
Authorised Capital : Rs.90860.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.3110.867
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6081000000 |
Equity Shares |
Rs.10/- each |
Rs.60810.000 Millions |
|
3005000000 |
Preference Shares |
Rs.10/- each |
Rs.30050.000 Millions |
|
|
Total |
|
Rs.90860.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310837112 |
Equity Shares |
Rs.10/- each |
Rs.3108.400 Millions |
Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
Issued, Subscribed
and Paid up equity shares |
|
|
|
Shares
outstanding at the beginning of the year |
305837112 |
3058.400 |
|
Shares issued
during the year |
5000000 |
50.000 |
|
Shares outstanding at the end of the year |
310837112 |
3108.400 |
Rights, preference and restriction attached to the equity
shareholders
The Company has one class of equity shares having a par value of Rs.10
per share. Each shareholder is eligible for one vote per share held. In the
event of liquidation, the equity shareholders are eligible to receive the
remaining assets of the Company after distribution of all preferential amounts,
in proportion to their shareholding.
Details of equity shares held by shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Madhuraj Foundation |
120484000 |
38.80% |
|
Trident Group Limited |
30000000 |
9.70% |
|
Trident Capital Limited |
20000000 |
6.40% |
|
Prudent Traders Private Limited |
18860000 |
6.10% |
LISTING DETAILS
|
Subject Stock Code
: |
BSE : 521064 NSE : TRIDENT |
|
|
|
|
Stock Exchange
Place : |
· The Stock Exchange, Mumbai, Maharashtra, India ·
National Stock Exchange of India Limited |
|
|
|
|
Date : |
12.10.1992 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3108.400 |
3058.400 |
2223.000 |
|
(b) Reserves & Surplus |
3954.300 |
3425.800 |
3092.400 |
|
(c) Money received against
share warrants |
0.000 |
21.300 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7062.700 |
6505.500 |
5315.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9491.800 |
12725.700 |
8787.300 |
|
(b) Deferred tax liabilities
(Net) |
1070.100 |
759.800 |
913.100 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
42.900 |
30.100 |
29.700 |
|
Total
Non-current Liabilities (3) |
10604.800 |
13515.600 |
9730.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
9673.600 |
7356.500 |
7909.200 |
|
(b) Trade payables |
1658.500 |
1821.700 |
1860.900 |
|
(c) Other current liabilities |
3841.500 |
3447.600 |
3041.300 |
|
(d) Short-term provisions |
27.800 |
19.100 |
410.800 |
|
Total
Current Liabilities (4) |
15201.400 |
12644.900 |
13222.200 |
|
|
|
|
|
|
TOTAL |
32868.900 |
32666.000 |
28267.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19622.200 |
21400.300 |
15884.700 |
|
(ii) Intangible Assets |
60.000 |
79.200 |
47.800 |
|
(iii) Capital work-in-progress |
280.500 |
63.800 |
630.900 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
619.700 |
556.500 |
439.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1224.600 |
1151.900 |
841.400 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
21807.000 |
23251.700 |
17844.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
25.000 |
0.000 |
5.800 |
|
(b) Inventories |
6909.900 |
5204.000 |
6789.300 |
|
(c) Trade receivables |
2323.000 |
1919.000 |
1988.200 |
|
(d) Cash and cash equivalents |
331.100 |
230.300 |
67.500 |
|
(e) Short-term loans and
advances |
1436.600 |
2049.200 |
1458.100 |
|
(f) Other current assets |
36.300 |
11.800 |
114.600 |
|
Total
Current Assets |
11061.900 |
9414.300 |
10423.500 |
|
|
|
|
|
|
TOTAL |
32868.900 |
32666.000 |
28267.700 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
33,352.600 |
27,322.800 |
25,206.500 |
|
|
Other Income |
224.400 |
201.600 |
162.400 |
|
|
TOTAL
(A) |
33,577.000 |
27,524.400 |
25,368.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
18,198.200 |
16,254.300 |
14,469.000 |
|
|
Purchases of Stock-in-Trade |
226.100 |
191.400 |
70.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(8.700) |
(189.800) |
(177.800) |
|
|
Employees benefits expense |
2,378.600 |
2,014.900 |
1,870.100 |
|
|
Other expenses |
7,004.700 |
6,051.200 |
4,996.700 |
|
|
TOTAL
(B) |
27,798.900 |
24,322.000 |
21,228.700 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
5,778.100 |
3,202.400 |
4,140.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2,352.800 |
1,717.800 |
1,289.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3,425.300 |
1,484.600 |
2,851.200 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2,614.400 |
2,075.300 |
1,946.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
810.900 |
(590.700) |
904.400 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
317.600 |
(153.300) |
233.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
493.300 |
(437.400) |
670.800 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2,027.000 |
2,447.000 |
2,180.900 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
20.000 |
|
|
Proposed Dividend |
0.000 |
0.000 |
384.700 |
|
|
Dividend on shares held
through trust |
0.000 |
(17.400) |
0.000 |
|
|
Total
(L) |
0.000 |
(17.400) |
404.700 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
2,520.300 |
2,027.000 |
2,447.000 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
16,081.700 |
14413.800 |
12095.000 |
|
|
TOTAL
EARNINGS |
16,081.700 |
14,413.800 |
12,095.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
555.300 |
528.600 |
420.400 |
|
|
Components and Stores parts |
207.300 |
108.300 |
170.700 |
|
|
Capital Goods |
122.100 |
1,616.400 |
336.600 |
|
|
TOTAL
IMPORTS |
884.700 |
2,253.300 |
927.700 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.600 |
(1.590) |
3.020 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.47 |
(1.59) |
2.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.43 |
(2.16) |
3.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.54 |
(1.84) |
3.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
(0.09 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.71 |
3.09 |
3.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73 |
0.74 |
0.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
2223.000 |
3058.400 |
3108.400 |
|
Reserves & Surplus |
3092.400 |
3425.800 |
3954.300 |
|
Net
worth |
5315.400 |
6484.200 |
7062.700 |
|
|
|
|
|
|
long-term borrowings |
8787.300 |
12725.700 |
9491.800 |
|
Short term borrowings |
7909.200 |
7356.500 |
9673.600 |
|
Total
borrowings |
16696.500 |
20082.200 |
19165.400 |
|
Debt/Equity
ratio |
3.141 |
3.097 |
2.714 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
25,206.500 |
27,322.800 |
33,352.600 |
|
|
|
8.396 |
22.069 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
25,206.500 |
27,322.800 |
33,352.600 |
|
Profit |
670.800 |
(437.400) |
493.300 |
|
|
2.66% |
(1.60%) |
1.48% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
no |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Other loans |
|
|
|
Vehicles Loan
from banks |
8.900 |
28.600 |
|
Total |
8.900 |
28.600 |
CORPORATE
INFORMATION
The Company is a public company domiciled in India and incorporated
under the provisions of the Companies Act, 1956 April 18, 1990, the share of
the company are listed on two stock exchanges in India i.e. National Stock
Exchange (NSE) and Bombay Stock Exchange (BSE). The Company is engaged in
manufacturing, trading and sale of yarn, terry towels, paper, chemicals and
sale of services.
KEY CORPORATE HIGHLIGHTS:
During FY13 Trident renewed its focus on product innovation, including
patented technologies, for better functionality and aesthetics The Board of
Directors of Trident have approved expansion and modernization plan involving
Rs.16668.000 million of capex, likely to commence by October 2013. The
expansion will add additional capacities to both Home Textiles and Yarn segment
besides modernization of facilities.
During FY13, Trident’s Board approved the increase of its equity stake
in Trident Corporation Limited (TCL) from
12.74% to more than 26% in line with requirements of para 3 of the
Electricity Rules 2005 as TCL will be providing more than 51% of its power to
the Company. During FY13 only, Trident Limited acquired 100% stake in
Trident Global Corp Limited to make it a wholly owned subsidiary.
Trident Global Corp will act as front end marketing arm of the Group.
SEGMENT OVERVIEW
Trident Limited
has an installed capacity of 365,904 spindles and 3,584 rotors, capable of
manufacturing 8,400 tonnes of cotton and blended yarn per month. The Company also
has Yarn processing capacities of 6,825 TPA. Company’s Yarn products are
marketed under Trident brand. Yarn segment contributes 46% to the Company’s
aggregate revenues. Yarn segment has export presence in 19 countries and
witnessed 27% exports contribution to the total Yarn revenues of Rs.16837.000
million during FY13. While the segment’s revenues witnesses 44% increase From
Rs.11685.000 in FY 12, the profit before interest and tax (PBIT) recorded
strong rebound from loss of Rs.54.000 million in FY12 to PBIT of Rs.1340.000
million in FY13.
SEGMENT HIGHLIGHTS
Future Expansion: As part of
Rs.16668.000 million expansion plan, 1.76 lac Spindles, producing 38,802 TPA
Yarn, will be added to manufacturing capacities. Post expansion total Yarn
capacity will become 5.42 lakh Spindles, 3,584 rotors capable of manufacturing
12,000 tonnes of cotton & blended yarn per month.
Enhanced
Utilization: During FY 13, due to full utilization of capacity implemented during FY
12, the yarn division production clocked at 84,490 MT, a 41.7% increase over
59,611 MT produced in FY 12.
Market Expansion: The Company’s
consistent endeavours to look for demand growth, helped it enter new markets
like Denmark, Turkey, UAE, Bahrain, Tunisia, Algeria, Ivory Coast, Vietnam,
Pakistan, Morocco, Indonesia, Nepal, Netherlands, Slovenia, Mexico with niche
products that are likely to deliver higher margins as well.
Cost Optimization:
The
Company undertook various cost optimization measures like Kaizen, TQM, TPM, 5S,
change management to have lean manufacturing, together with enhanced
utilization, helped Company achieve higher sales, better realization and
increased profitability.
New Product
Launches: Trident launched Core Filament Yarn and Contamination Free Yarn during
FY 13 in line with its strategy to increase value-added product contribution
across business verticals.
SEGMENT OUTLOOK
Outlook for the
Yarn segment is expected to be stable going forward. As per recent ICAC report,
China’s dominance in terms of Cotton Mill use is showing trends of weakening,
leading to spread of additional mill use across other Asian countries wherein
India happens to be a strong no. 2 player. Preparing for the unfolding
opportunities, Trident has recently announced capacity expansion in its Yarn
segment together with enhancing its product-mix with more value-added products
and higher capacity utilization. Country’s favorable domestic demographics and
the Company’s expansion in newer export markets shall further strengthen its
future outlook.
OUTLOOK
The stabilization
of operations of the yarn segment helped the Company to focus on niche category
of combed and processed yarns. The higher capacity utilization enabled the
Company to clock an export turnover which constituted 73% of yarn sales. Going
ahead, the Company is adding more value added products for niche customer
segments in the paper segment, which will help in improving the profitability.
In home textiles,
the Company is associated with global retail brands across the globe including
Ralph and Lauren, Calvin Klein, JC Penney, IKEA, Target, Wal-mart, Macy’s,
Kohl’s, Sears, Sam’s club, Burlington and other esteemed customers in US,
Mexico, Australia and Europe etc. The home textiles products of company are
exported across 70 countries. With these factors in mind, the Company hopes to
have a better outlook in the period ahead in the light of global economic
growth recovery from 2013 onwards.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND NINE MONTH ENDED 31TH DECEMBER 2013
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Nine Months Ended ( Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
10169.230 |
9995.550 |
28857.380 |
|
b) Other operating income |
40.200 |
6.410 |
81.500 |
|
Total
income from Operations(net) |
10209.430 |
10001.960 |
28938.880 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
5013.440 |
4849.820 |
14315.740 |
|
b) Purchases of stock in trade |
303.840 |
238.620 |
694.880 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
183.210 |
122.120 |
(23.770) |
|
d) Employees benefit expenses |
740.800 |
672.190 |
2054.360 |
|
e) Depreciation and amortization expenses |
676.130 |
687.230 |
2044.040 |
|
f) Other expenditure |
2132.160 |
2004.700 |
6006.680 |
|
Total expenses |
9049.580 |
8574.680 |
25091.930 |
|
3. Profit from operations before other income and
financial costs |
1159.850 |
1427.280 |
3846.950 |
|
4. Other income |
2.460 |
2.630 |
7.910 |
|
5. Profit from ordinary activities before finance costs |
1162.310 |
1429.910 |
3854.860 |
|
6. Finance costs |
512.640 |
517.910 |
1623.900 |
|
7. Net profit/(loss) from ordinary activities after finance costs but
before exceptional items |
649.670 |
912.000 |
2230.960 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax Expense: |
649.670 |
912.000 |
2230.960 |
|
10.Tax expenses |
140.400 |
185.400 |
553.400 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
509.270 |
726.600 |
1677.560 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
509.270 |
726.600 |
1677.560 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
3108.370 |
3108.370 |
3108.370 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary
items) Rs.10/- per share each) |
|
|
|
|
Basic |
1.64 |
2.34 |
5.40 |
|
Diluted |
1.61 |
2.34 |
5.36 |
|
Particulars |
Quarter Ended ( Unaudited) |
Nine Months Ended ( Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
138909278 |
138909278 |
138909278 |
|
- Percentage of shareholding |
44.69 |
44.69 |
44.69 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
171927833 |
171927833 |
171927833 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100 |
100 |
100 |
|
Percentage of shares (as a % of total share capital of the
company) |
55.31 |
55.31 |
55.31 |
|
|
|
|
|
|
B.
Investor Complaints |
|
||
|
Pending at the beginning of the quarter |
- |
||
|
Receiving during the quarter |
1 |
||
|
Disposed of during the quarter |
1 |
||
|
Remaining unreserved at the end of the quarter |
- |
||
UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
Nine
Months Ended (
Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1. Segment Revenues |
|
|
|
|
a) Yarn |
4895.070 |
5071.420 |
14516.110 |
|
b) Terry towel |
4120.360 |
3626.980 |
10903.500 |
|
c) Paper and chemicals |
2153.600 |
2127.870 |
6145.340 |
|
d) Others |
3.960 |
4.080 |
12.220 |
|
e) Unallocated |
2.320 |
2.570 |
7.070 |
|
Total |
11175.310 |
10832.920 |
31584.240 |
|
Less: Inter segmental revenue |
965.880 |
830.960 |
2645.360 |
|
Net sales /income from operations (Including other operating income) |
10209.430 |
10001.960 |
28938.880 |
|
2. Segment results Profit/(loss) before tax and
interest from each segment |
|
|
|
|
a) Yarn |
501.490 |
730.350 |
1995.690 |
|
b) Terry towel |
427.920 |
482.550 |
1176.110 |
|
c) Paper and chemicals |
338.380 |
318.890 |
1000.440 |
|
d) Others |
(0.360) |
(0.150) |
(0.660) |
|
Total |
1267.430 |
1531.640 |
4171.580 |
|
Less: |
|
|
|
|
a) Interest (net of exceptional
items) |
512.640 |
517.910 |
1623.900 |
|
b) Other un-allocable expenditure
net off un-allocable income |
105.120 |
101.730 |
316.720 |
|
Total profit/(loss) before Tax |
649.670 |
912.000 |
2230.960 |
|
|
|
|
|
|
3. Capital employed # (Segment assets - Segment
liabilities) |
|
|
|
|
a) Yarn |
13532.740 |
12954.650 |
13532.740 |
|
b) Terry towel |
5957.660 |
5864.680 |
5957.660 |
|
c) Paper and chemicals |
5308.490 |
5755.380 |
5308.490 |
|
d) Others |
981.470 |
983.810 |
981.470 |
|
e) Unallocated |
846.080 |
775.770 |
846.080 |
|
Total |
26626.440 |
26334.290 |
26626.440 |
|
# Includes capital work in
progress |
192.390 |
455.460 |
192.390 |
Notes:
1.
The above results have been reviewed by the Audit
Committee and approved by the Board of Directors in its meeting held on February
9, 2014. The Limited Review as required under Clause 41 of the Listing
Agreement has been completed by the Statutory Auditors.
2.
During the nine months ended December 31, 2013,
provision for taxation is current tax of Rs.561.900 Millions and deferred tax
credit of Rs.8.500 Millions.
3.
The Company has allotted 249,600 equity shares to
the Employees of the Company pursuant to exercise of options in terms of
Trident Employee Stock Options Plan, 2007 on February 1, 2014. Consequent to
this allotment, the Paid-up Equity Share Capital of the Company stands
increased to Rs.3110.860 Millions. The promoters’ holding and public holding
after this allotment stands at 55.27% and 44.73% respectively.
4.
In accordance with the terms of issue approved by
the shareholders, the Company shall utilize the proceeds of preferential
allotment of warrants amounting to Rs.100.000 Millions raised during the
quarter ended December 31, 2013, towards capital expenditure for its composite
textile project.
5.
The previous financial period figures have been
regrouped/rearranged wherever necessary to make them comparable.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Addressss |
Service Request
Number (SRN) |
|
1 |
10463367 |
05/12/2013 |
750,000,000.00 |
Bank Of India |
579-R, 1st Floor, Model Town,
Ludhiana, Punjab - 141002, INDIA |
B90795238 |
|
2 |
10462810 |
05/11/2013 |
1,850,000,000.00 |
Canara Bank |
Bharat Nagar Chowk, Ludhiana, Punjab
- 141001, India |
B90594326 |
|
3 |
10462266 |
01/11/2013 |
1,250,000,000.00 |
Corporation Bank |
New Lajpat Nagar, Pakhowal
Road, Ludhiana, Punjab |
B90339946 |
|
4 |
10460873 |
26/10/2013 |
750,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Jandu Tower,
G.T. Road, Miller Ganj, Ludhiana, Punjab - 141003, India |
B89793038 |
|
5 |
10459515 |
25/10/2013 |
1,500,000,000.00 |
Punjab National Bank |
Large Corporate Branch, Ludhiana,
Punjab - 141003, |
B89256911 |
|
6 |
10459698 |
22/10/2013 |
1,000,000,000.00 |
STATE BANK OF BIKANER and
JAIPUR |
Opposite Military Camp, G.T.
Road Ludhiana, Ludhi |
B89341093 |
|
7 |
10459888 |
22/10/2013 |
1,250,000,000.00 |
Allahabad Bank |
Industrial Finance Branch,
Cheema Chowk, Ludhiana |
B89414023 |
|
8 |
10459510 |
21/10/2013 |
1,900,000,000.00 |
State Bank of Patiala |
Commercial Branch,, Miller Ganj,
Ludhiana, Punjab |
B89255905 |
|
9 |
10455749 |
27/09/2013 |
1,000,000,000.00 |
Central Bank of India |
Mid Corporate Branch, 369, R K
Road, Ludhiana, Punjab - 141003, India |
B87826889 |
|
10 |
10455751 |
27/09/2013 |
550,000,000.00 |
Central Bank of India |
Mid Corporate Branch, 369, R K
Road, Ludhiana, Punjab - 141003, India |
B87827564 |
|
11 |
10458868 |
24/09/2013 |
1,250,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Ludhiana |
B89020499 |
|
12 |
10407864 |
28/02/2013 |
600,000,000.00 |
State Bank Of Hyderabad |
Sona Complex, G T Road,Miller
Ganj, Ludhiana, Punjab - 141003, India |
B69570190 |
|
13 |
10401071 |
09/01/2013 |
300,000,000.00 |
STATE BANK OF PATIALA |
Commercial Branch, G.T. Road,
Miller Ganj, Ludhiana, Punjab - 141003, India |
B67264580 |
|
14 |
10381325 |
27/09/2012 |
600,000,000.00 |
CENTRAL BANK OF INDIA |
Mid Corporate Branch, 369, R K
Road, Industrial Area -A, Ludhiana, Punjab - 141003, India |
B60001906 |
|
15 |
10349796 |
30/03/2012 |
750,000,000.00 |
Punjab National Bank |
Large Corporate Branch,
Bhagwati Tower, Rk Road, |
B37625019 |
|
16 |
10350322 |
22/03/2013 * |
6,325,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Dholewal |
B71367338 |
|
17 |
10350317 |
29/12/2012 * |
500,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Dholewal |
B65982621 |
|
18 |
10349840 |
29/12/2012 * |
500,000,000.00 |
State Bank of Travancore |
Commercial Branch, K G Marg, New
Delhi, Delhi - 110001, India |
B64998842 |
|
19 |
10347378 |
29/12/2012 * |
500,000,000.00 |
State Bank Of Hyderabad |
Sona Complex, G T Road, Miller
Ganj, Ludhiana, Punjab - 141003, India |
B65111593 |
|
20 |
10317423 |
29/12/2012 * |
450,000,000.00 |
STATE BANK OF PATIALA |
Commercial Branch, G.T. Road,
Miller Ganj, Ludhiana, Punjab - 141003, India |
B66517715 |
|
21 |
10314147 |
27/04/2012 * |
435,500,000.00 |
EXPORT-IMPORT BANK OF INDIA |
Center One Building, Floor - 21,,
World Trade Center Complex, Curre Parade, Mumbai, Maharashtra - |
B39775739 |
|
22 |
10298475 |
30/12/2013 * |
1,350,000,000.00 |
State Bank of India. SBOP.
Canara Bank. CBOI. Corporation Bank. OBC. PNB. State Bank of Hyderabad. |
SBI, Specialized Commercial
Branch, Miller Ganj, |
B94702081 |
|
23 |
10295064 |
29/12/2012 * |
550,000,000.00 |
CORPORATION BANK |
Feroze Gandhi Market,
Ludhiana, Punjab - 141001, India |
B66323742 |
|
24 |
10273946 |
29/12/2012 * |
250,000,000.00 |
BANK OF INDIA |
Ludhiana Mid Corporate Branch,
579-R, 1st Floor, |
B66306911 |
|
25 |
10273950 |
29/12/2012 * |
100,000,000.00 |
BANK OF INDIA |
Ludhiana Mid Corporate Branch,
579-R, 1st Floor, |
B66307687 |
|
26 |
10271947 |
29/12/2012 * |
300,000,000.00 |
STATE BANK OF PATIALA |
Commercial Branch, G.T. Road, Miller
Ganj, Ludhiana, Punjab - 141003, India |
B66517574 |
|
27 |
10268610 |
29/12/2012 * |
200,000,000.00 |
State Bank of Hyderabad |
Sona Complex, G T Road, Miller
Ganj, Ludhiana, Punjab - 141003, India |
B66152844 |
|
28 |
10268637 |
29/12/2012 * |
250,000,000.00 |
State Bank of Hyderabad |
Sona Complex, G T Road, MILLER
GANJ, LUDHIANA, Punjab - 141003, INDIA |
B66154071 |
|
29 |
10268605 |
29/12/2012 * |
300,000,000.00 |
Allahabad Bank |
IIFB, Cheema Chowk, 165, Industrial
Area A, Ludhiana, Punjab - 141003, India |
B66304817 |
|
30 |
10268607 |
29/12/2012 * |
200,000,000.00 |
Allahabad Bank |
IIFB, Cheema Chowk, 165,
Industrial Area A, Ludhiana, Punjab - 141003, India |
B66305749 |
|
31 |
10270182 |
29/12/2012 * |
460,000,000.00 |
Corporation Bank |
Feroze Gandhi Market,
Ludhiana, Punjab - 141001, India |
B66320748 |
|
32 |
10270186 |
29/12/2012 * |
270,000,000.00 |
Corporation Bank |
Feroze Gandhi Market,
Ludhiana, Punjab - 141001, India |
B66323312 |
|
33 |
10269353 |
29/12/2012 * |
400,000,000.00 |
Punjab National Bank |
Large Corporate Branch,
Bhagwati Towers, R K Road |
B66634122 |
|
34 |
10269355 |
29/12/2012 * |
200,000,000.00 |
Punjab National Bank |
Large Corporate Branch,
Bhagwati Towers, R K Road, Cheema Chowk, Ludhiana, Punjab - 141003, India |
B66634536 |
|
35 |
10262704 |
29/12/2012 * |
500,000,000.00 |
Canara Bank |
Bharat Nagar Chowk, Ludhiana, Punjab
- 141001, India |
B66517095 |
|
36 |
10262706 |
29/12/2012 * |
500,000,000.00 |
CANARA BANK |
Bharat Nagar Chowk, Ludhiana,
Punjab - 141001, India |
B66517285 |
|
37 |
10263244 |
29/12/2012 * |
1,000,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Dholewal |
B65980583 |
|
38 |
10263246 |
29/12/2012 * |
1,000,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Dholewal |
B65981078 |
|
39 |
10258423 |
29/12/2012 * |
500,000,000.00 |
INDIAN BANK |
Kalsi Nagar Branch, Ludhiana,
Punjab - 141003, India |
B66352097 |
|
40 |
10258425 |
29/12/2012 * |
500,000,000.00 |
INDIAN BANK |
Kalsi Nagar Branch, Ludhiana,
Punjab - 141003, India |
B66352485 |
|
41 |
10254786 |
29/12/2012 * |
500,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Jandu Tower,
G.T. Road, Miller Ganj, Ludhiana, Punjab - 141003, India |
B66059478 |
|
42 |
10254790 |
29/12/2012 * |
500,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Jandu Tower,
G.T. Road, Miller Ganj, Ludhiana, Punjab - 141003, India |
B66059585 |
|
43 |
10234866 |
29/12/2012 * |
412,500,000.00 |
CORPORATION BANK |
Feroze Gandhi Market,
Ludhiana, Punjab - 141001, India |
B66320185 |
|
44 |
10221516 |
17/05/2010 |
270,000,000.00 |
IDBI BANK LIMITED |
Indian Red Cross Society Building,
1, Red Cross Road, Post Bag No. 231, New Delhi, Delhi - 110001, |
A86437084 |
|
45 |
10209973 |
29/12/2012 * |
350,000,000.00 |
INDIAN OVERSEAS BANK |
Sainik Rest House, Kacheri
Road, Ludhiana, Punjab |
B66143843 |
|
46 |
10189388 |
29/12/2012 * |
450,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Jandu Tower,
G.T. Road, Miller Ganj, Ludhiana, Punjab - 141003, India |
B66059312 |
|
47 |
10152721 |
29/12/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
Large Corporate Branch,
Bhagwati Towers, R K Road |
B66633892 |
|
48 |
10140657 |
29/12/2012 * |
287,800,000.00 |
PUNJAB NATIONAL BANK |
Large Corporate Branch,
Bhagwati Towers, R K Road |
B66634304 |
|
49 |
10062304 |
17/08/2010 * |
500,000,000.00 |
State Bank of Travancore |
Commercial Branch, K G Marg,
New Delhi, Delhi - 1 |
A93494219 |
|
50 |
10058095 |
29/12/2012 * |
150,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Jandu Tower,
G.T. Road, Miller Ganj, Ludhiana, Punjab - 141003, India |
B66059031 |
|
51 |
10056659 |
29/12/2012 * |
500,000,000.00 |
INDIAN BANK |
Kalsi Nagar Branch, Ludhiana,
Punjab - 141003, India |
B66349200 |
|
52 |
10056237 |
29/12/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
Large Corporate Branch,
Bhagwati Towers, R K Road |
B66632712 |
|
53 |
10056656 |
29/12/2012 * |
500,000,000.00 |
CANARA BANK |
Bharat Nagar Chowk, Ludhiana,
Punjab - 141001, India |
B66516766 |
|
54 |
10056001 |
29/12/2012 * |
500,000,000.00 |
State Bank of Mysore |
Corporate Accounts Branch, DDA
Building, Nehru Place, New Delhi, Delhi - 110019, India |
B66346206 |
|
55 |
10031671 |
29/12/2012 * |
580,000,000.00 |
CANARA BANK |
Bharat Nagar Chowk, Ludhiana,
Punjab - 141001, India |
B66438987 |
|
56 |
10028239 |
29/12/2012 * |
500,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Dholewal |
B65979965 |
|
57 |
10025019 |
29/12/2012 * |
750,000,000.00 |
State Bank of Patiala |
Commercial Branch, G.T. Road, Miller
Ganj, Ludhiana, Punjab - 141003, India |
B66516527 |
|
58 |
10023888 |
29/12/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
Large Corporate Branch,
Bhagwati Towers, R K Road |
B66633058 |
|
59 |
10012050 |
29/12/2012 * |
200,000,000.00 |
Syndicate Bank |
Corporate Finance Branch,
First Floor, Sarojini House, 6, Bhagwan Dass Road, New Delhi, Delhi - 110001,
India |
B66348186 |
|
60 |
80008298 |
29/12/2012 * |
500,000,000.00 |
Syndicate Bank |
Corporate Finance Branch,
First Floor, Sarojini House, 6, Bhagwan Dass Road,, New Delhi, Delhi - 11 |
B66348715 |
|
61 |
90180980 |
29/12/2012 * |
1,000,000,000.00 |
State Bank of Patiala |
Commercial Branch, G.T. Road, Miller
Ganj, Ludhiana, Punjab - 141003, India |
B66518309 |
|
62 |
90180911 |
29/12/2012 * |
500,000,000.00 |
State Bank of Hyderabad |
Sona Complex, G T Road, Miller
Ganj, Ludhiana, Punjab - 141003, India |
B66154949 |
|
63 |
90180901 |
29/12/2012 * |
2,000,000,000.00 |
State Bank of India |
Industrial Finance Branch,
Golden Tower, Dholewal |
B65983371 |
|
64 |
90183343 |
29/12/2012 * |
336,400,000.00 |
State Bank of Bikaner and
Jaipur |
G T Road, Ludhiana, Punjab -
141003, India |
B66143512 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant
and machinery
·
Furniture
and fixtures
·
Office
equipment’s
·
Computers
·
Vehicles
·
Software
NEWS:
TRIDENT GAINS AS SHAREHOLDERS TO CONSIDER AMALGAMATION
OF TRIDENT CORP
Trident rose 2.76% to Rs.6.75 at 10:47 IST on BSE after
the company said that the court convened meeting of its shareholders is
scheduled to be held on 25 January 2014 in the matter of proposed amalgamation
of Trident Corporation with the company.
The announcement was made after market hours on Tuesday, 24
December 2013.
Meanwhile, the S and P BSE Sensex was up 55.32 points or 0.26%
at 21,088.03.
On BSE, so far 66,000 shares were traded in the counter as
against average daily volume of 1.06 lakh shares over the past one quarter.
The stock hit a high of Rs16.80 and a low of Rs16.25 so far
during the day. The stock had hit a 52-week high of Rs19.50 on 29 November
2013. The stock had hit a 52-week low of Rs6.08 on 1 August 2013.
The stock had outperformed the market over the past one month
till 24 December 2013, surging 20.38% compared with the Sensex's 4.03% rise. The
scrip had also outperformed the market in past one quarter, galloping 82.94 %
as against Sensex's 5.58% rise.
The small-cap company has equity capital of Rs.3108.400 Millions
Face value per share is Rs.10.
Trident's net profit galloped 5016.9% to Rs.726.600 Millions on
21.6% growth in net sales to Rs.9995.600 Millions in Q2 September 2013 over Q2
September 2012.
Trident is the flagship company of Trident Group with its
array of customers spread across 75 countries. Trident is a leading
manufacturer of terry towels, paper, yarn and chemicals.
TRIDENT
LIMITED Q3 SHOOTS OVER 3-FOLD TO RS 509.000 Millions
Trident Limited today reported over three-fold jump in profit after tax
(PAT) to Rs.509.000 Millions during third quarter ended December 31.
The flagship company of USD 1 billion Trident Group had posted profit after tax
of Rs.142.000 Millions in corresponding period of last fiscal.
"Greater economies of scale arising from balanced growth across all our
business lines coupled with an improving product mix has led to margin
expansion. The outlook remains strong due to a vastly improved macro-economic
scenario for the textile industry," said Rajinder Gupta, Chairman of
Trident Limited in a statement issued here today.
The topline of the company rose by 23.2 per cent to Rs.10209.000 Millions
during third quarter as against turnover of Rs.8284.000 Millions in
corresponding period of last fiscal.
Company's yarn segment's revenue jumped to Rs.4895.000 Millions as compared to
Rs.4318.000 Millions in the corresponding quarter, up 13.4 per cent, company
release said.
The sale from terry towel segment of the company touched Rs.4120.000 Millions
mark in third quarter compared to Rs.3073.000 Millions in corresponding period.
The revenues of Paper and Chemicals Division rose by 21 per cent at Rs.2154.000
Millions as compared to Rs.1779.000 Millions in Q3 of 2012-13.
Trident Limited today reported over three-fold jump in profit after tax
(PAT) to Rs.509.000 Millions during third quarter ended December 31.
The flagship company of USD 1 billion Trident Group had posted profit after tax
of Rs.142.000 Millions in corresponding period of last fiscal.
"Greater economies of scale arising from balanced growth across all our
business lines coupled with an improving product mix has led to margin
expansion. The outlook remains strong due to a vastly improved macro-economic
scenario for the textile industry," said Rajinder Gupta, Chairman of
Trident Limited in a statement issued here today.
The topline of the company rose by 23.2 per cent to Rs.10209.000 Millions
during third quarter as against turnover of Rs.8284.000 Millions in
corresponding period of last fiscal.
Company's yarn segment's revenue jumped to Rs.4895.000 Millions as compared to
Rs.4318.000 Millions in the corresponding quarter, up 13.4 per cent, company
release said.
The sale from terry towel segment of the company touched Rs.4120.000 Millions
mark in third quarter compared to Rs.3073.000 Millions in corresponding period.
The revenues of Paper and Chemicals Division rose by 21 per cent at Rs.2154.000
Millions as compared to Rs.1779.000 Millions in Q3 of 2012-13.
TRIDENT
TO INSTALL 1.76 LAKH SPINDLES AND 500 LOOMS IN BUDHNI, MP
Trident Limited has informed BSE
regarding a Press Release dated September 07, 2013 titled "Trident on path
of becoming one of the Largest Integrated Home Textile Manufacturing Facilities
in the World". Trident announced the laying of foundation stone of two
spinning units and a sheeting unit in Budhni, MP. The Company will install 1.76
lacs spindles and 500 looms with an investment of Rs.16670.000 Millions which
will manufacture around 40,000 TPA of additional cotton yarn of higher count
and value added varieties and 50 million meters of sheeting per
TRIDENT'S
COURT CONVENED MEETING ON JAN 25, 2014
Trident Limited has informed BSE that a Court Convened Meeting of the
Equity Shareholders of the Company scheduled to be held on January 25, 2014 in
the matter of proposed amalgamation of Trident Corporation Limited with the
Company.
TRIDENT ON PATH OF BECOMING ONE OF THE LARGEST INTEGRATED HOME TEXTILE
MANUFACTURING FACILITIES IN THE WORLD
Ludhiana/Barnala/Bhopal, September 7, 2013: Trident Limited, the flagship
Company of Trident Group, today announced the laying of foundation stone of two
spinning units and a sheeting unit in Budhni, MP. The Company will install 1.76
lacs spindles and 500 looms with an investment of Rs.16670.000 Millions which
will manufacture around 40,000 TPA of additional cotton yarn of higher count
and value added varieties and 50 million meters of sheeting per annum. The
implementation of these units will be in a phased manner and is expected to be
fully operational by September 2015. Post commencement of these facilities
combined with increased focus on value added products and end-to-end home
textile solutions; the Company envisages improvement in realizations and
margins.
Trident Corporation Limited, an associate Company of Trident
Limited, also announced the laying of foundation stone of its Open End Yarn
Project in Budhni, MP. The project will have a capacity of 1,920 rotors and
planned production of around 10,000 TPA with an investment of Rs.600.000
Millions. This project is expected to be
completed by June 2014.
The expansion would take advantage of the central location
with convenient access to the prime business nodes and proximity to the ports
which would provide logistical benefit to the Group both, for imports as well
as exports. The expansion would provide a base to increase the Group’s market
reach in Southern and Eastern parts of the country, both, for raw material
procurement as well as for sale of finished goods to utilize market conditions
more efficiently. Proximity to ports would be particularly beneficial keeping
in mind the addition of sheeting unit which would be an export oriented unit
and would complement the existing home textiles product portfolio thereby
enabling the company to offer complete home textile solutions at competitive
prices to its global clients spread all over the world.
Post ongoing expansions, the Group expects to provide employment to more
than 25,000 families across all business verticals.
Primary focus of Trident Group, with the addition of these
facilities, would be on value-added yarn for niche segment of high-end
International markets; and on offering complete range of home textile products
to global clients spread worldwide. It will also cater to the requirements of
the top-notch domestic customers.
Commenting on the expansion plans,
Mr. Rajinder Gupta, Chairman at Trident Group said:
“With this expansion, we intend
to widen our reach to other prominent countries which form a strong base for
our competing nation’s viz. China, Turkey and Pakistan. We also intend to
improve our product basket by offering additional cotton yarn of higher count
and value-added varieties that satisfy customer needs and improve margins; and
by offering towels and bed sheets together, thereby harnessing customers who
could not be tapped erstwhile, due to the non-availability of complete range of
home textile products. With increased emphasis on value-added products combined
with various cost optimization measures underway, we believe that this
expansion shall be a step further towards our goal of registering a strong
performance and delivering better returns to our shareholders.”
Post ongoing expansions, the production capacity of Trident
Group would rise to 700 looms manufacturing 360 million pieces of towel/annum,
500 looms manufacturing 50 million meters of sheeting/annum, 6 lac spindles
manufacturing 1,50,000 tonnes of cotton and blended yarns/annum and 130 MW of
captive power. This will make Trident one of the Largest Integrated Home
Textile manufacturing facilities in the world. Apart from being a renowned name
in Home Textile Segment, the Company is also the leading wheat straw based
paper manufacturer with an annual production capacity of 2,00,000 tons of
eco-friendly Paper.
Keeping pace with the technology, the Company has partnered with global
best technology suppliers like Karl Mayer, Toyota, Staubli, Benninger, Rieter,
Muratec, LMW, Trutzschler, Oerlikon, Savio etc. for its expansion and
diversification plans. Also, the Company has been laying special emphasis on
Branding Initiatives in paper and textile divisions; and has launched various
brands such as Trident Indulgence, Trident Essentials and Trident Every day in
the textile division; and Trident Natural, My Choice, Trident Eco Green,
Trident Spectra and Trident Royal Touch in the paper division, which have been
well received in the market.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.