Ind-Ra revises outlook on Trident Ltd's long term rating

India Ratings and Research (Ind-Ra) has revised Trident Limited's Outlook to Positive from Stable while affirming the LongTerm Issuer Rating at 'IND AA'.

The Outlook revision reflects Ind-Ra's improved expectations for Trident's credit metrics over FY22-FY24, despite a higher cash outflow for capex and dividends as against the estimates in March 2021, supported by a strong operational performance amid a continued high demand over 9MFY22. Successful ramp-up of the company's additional yarn capacities (by around 12%), operational since July 2021, has enabled an improvement in the scale of operations and higher absolute EBITDA generation, leading to improved ROCE expectations for FY22. Also, the paper segment is likely to boost the margins over the medium term as schools and offices have opened up.

Shares of Trident Limited was last trading in BSE at Rs. 49.95 as compared to the previous close of Rs. 48.60. The total number of shares traded during the day was 390802 in over 4632 trades.

The stock hit an intraday high of Rs. 50.20 and intraday low of 48.60. The net turnover during the day was Rs. 19352688.00.

Source : Equity Bulls

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Trident INE064C01022 RatingUpdate OutlookRevision