CARE Ratings Reaffirms Trident's Credit Ratings with 'Stable' Outlook

Trident Group, a vertically integrated textile and Paper manufacturer was conferred with CARE Ratings- reaffirming its credit ratings, demonstrating confidence in the company's financial stability and operational resilience.

The long-term bank facilities of Trident have been reaffirmed at "CARE AA" with a 'stable' outlook, while the short-term rating stands at CARE A1+. This reaffirmation underscores Trident's robust management, integrated operations, and strong customer relationships in the textile and paper sectors.

According to CARE Ratings, Trident's bank facilities' ratings are strengthened by its seasoned management, geographically diversified revenue stream, diversified and integrated operations spanning paper, textile, and chemicals, and long-standing relationships with major international retailers for its domestic textile business.

The organisation continues to prioritize stakeholder interests and leverages its strengths to navigate challenges effectively. The overall gearing is anticipated to remain comfortable in the medium term, backed by a strong net-worth foundation, notwithstanding an increase in term debt for large-scale debt-funded capex.

Shares of Trident Limited was last trading in BSE at Rs. 38.67 as compared to the previous close of Rs. 38.58. The total number of shares traded during the day was 1336234 in over 7060 trades.

The stock hit an intraday high of Rs. 39.02 and intraday low of 38.20. The net turnover during the day was Rs. 51682083.00.

Source : Equity Bulls

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Trident INE064C01022 RatingUpdate