Trident Ltd Company Summary

Trident Ltd Summary

Trident Limited, a part of USD 3 billion Trident Group is headquartered in Ludhiana, Punjab. The Company has evolved as a global textile player under the visionary leadership of its founder Chairman Mr Rajinder Gupta, a first generation entrepreneur. It is a leading manufacturer of Yarn, Bath Linen, Bed Linen, Paper, Chemicals and Captive Power. It has state-of-the-art manufacturing facilities in Barnala, Punjab and Budni, Madhya Pradesh. Trident Limited (Formerly known Abhishek Industries Limited) was incorporated on April 18, 1990. Consequently, name of the Company changed from Abhishek Industries Limited to Trident Limited on April 18, 2011. Presently, the Company is engaged in manufacturing, trading and selling of Textiles like Yarn, Terry Towels & Bedsheets and Paper & Chemicals.The companys Yarn plant which produces both cotton and acrylic yarn is located at Sanghera, Punjab. This unit was financed by the public issue in Oct. 1992. Its products are used in hosiery products, textiles, fabrics, etc. The company has an agreement with Sagatex International, UK, for marketing and exporting its cotton production upto 50%.The companys Second Unit i.e Unit II has an installed capacity of 43392 Spindles for manufacture of dyed cotton, melange, acrylic and blended yarn besides carded and combed cotton yarn. The Unit II project which has been divided into parts the first phase of 36288 Spindles has started commercial production from 1st July, 1999. The cost of project amounts to Rs 95 crores which was financed by term loans, rights issue and internal accruals.During 1999-2000, the company got the status of Government Recognised Trading House and the quality of the products was well accepted in the international market. During 2002, Varinder Agro was merged with company. The shareholders of Varinder Agro were allotted 70 equity shares in Abhishek Industries for every 24 shares held.During the year 2003, ABIL expanded all its core business with an additional outlay of about Rs 9120 million.It was in the advanced stage of implementation of a Rs 3000 million expansion in Textiles, which will be operational bt July 2004. A capacity of 100 million pieces per annum and a corresponding modernisation and expansion of spinning operation, the unit will among the top 5 manufacturers in the world. Also the company has undertaken expansion in Pulp & Paper, Chemical Recovery & Co-generation at a capital outlay of Rs 6120 million, which will be fully operational by early 2006.During the year 2014 year, the Honble High Court for the states of Punjab and Haryana at Chandigarh approved Scheme of Amalgamation of Trident Corporation Limited with the Company vide its Order dated March 14, 2014. Accordingly, the Scheme has been implemented and Trident Corporation Limited has been amalgamated with the Company w.e.f. April 1, 2014, the Appointed Date. Further, the worlds largest integrated terry towel unit located at Budni in Madhya Pradesh, as vested in the Company from the erstwhile Trident Corporation Limited in terms of the above-referred Scheme of Amalgamation, was commissioned during the year under review. The project with an installed capacity of 300 looms has been implemented within the sanctioned capital outlay of H11,910 million.During the year 2015, the Company is also undertaking the implementation of a composite textile project in the Home Textiles Segment consisting of Bed Sheeting Unit with a capacity of 500 Looms and integrated spinning unit of 189696 spindles to manufacture high end count from 40 to 80 Ne. The above projects are being implemented at an estimated total project cost of Rs 16,669.0 million and are expected to be completed by second half of financial year 2016. Being an integrated project, the production from the spinning segment would seamlessly flow into the sheeting segment, adding value in the textile chain and making Company a onestop- shop for home textiles Products.During the year under review the Company has commissioned an open-end yarn-spinning project by installation of 1920 rotors, having manufacturing capacity of approximately 10,000 TPA of cotton open-end yarn for meeting its yarn requirement for the terry towel unit in Budni. The said projects are being part financed from term loans and internalcash accruals.During the year 2016, the Company commenced production at its integrated Bed-Linen project of 500 looms capable of producing 43.2 million meters of bed-linen per annum and &Rs 1.90 lac compact yarn spindles for captive consumption at Budni, Madhya Pradesh with capital investment of Rs 1,667 crore. Further, during the year under review the Company revisited its CAPEX plan of Yarn Modernization Project (Rs 103.9 crore) and Captive Power Project (Rs393 crore for 60 MW) at its facility in Budni, Madhya Pradesh. During the year 2016, Trident Europe Limited was incorporated by the Company in the UK to widen the reach in European markets and strengthen marketing channels.During FY16, the Company produced 92,617 MT of sulphuric acid.During the year 2019, the Company has undertaken modernizations and/or upgradation of its existing facilities to maintain high standards of its products.During the year 2019, the Board approved Expansion Project in Yarn Segment by installation of 1,62,432 spindles & 3,600 Rotors including other balancing equipment to manufacture approx. 48482 TPA of yarn at Budni, Madhya Pradesh.During FY 2019, the Board also approved to implement Captive Cogeneration Steam and Power Plant (Steam 2 X 150 TPH & Power 2 x 30 MW) generating facility for meeting its power and steam requirement for the Yarn, Terry Towel and Sheeting units at Budni, Madhya Pradesh.The Honble National Company Law Tribunal, Chandigarh Bench (NCLT) vide its Order dated July 12, 2019 had approved the Scheme of Amalgamation of an Associate Company namely Lotus Hometextiles Limited (formerly known as Lotus Texpark Limited) for the amalgamation of 8 Companies with said associate company. The Appointed date was April 1, 2018. The said Associate Company had filed the said approved scheme to Registrar of Companies on July 18, 2019 being the effective date. Further, during the year under review, Trident Infotech Inc, a foreign associate of the company has been voluntarily dissolved. As on 31 March 2022, the Company had two subsidiaries, Trident Global Corp Limited, the Indian wholly owned subsidiary and Trident Europe Limited, the overseas wholly owned subsidiary.During the year 2021-22, Company commenced the production of Detergent Powder under Chemical Segment in Budni, Madhya Pradesh effective from August 2, 2021 with a capacity of 10 Metric Ton per day. It expanded Yarn Segment with the addition of 61,440 Spindles & 480 Rotors w.e.f. July 27, 2021. It commissioned 7.6 MW Solar Power Plant at Budhi, Madhya Pradesh for captive use.During the year 2022-23, the Company expanded the production capacity of its Bed Linen segment by 55,000 meters per day, Bath Linen Segment by installing 42 Looms and Yarn Segment by installing 23,712 spindles. The Company on December 1, 2022 acquired 100% equity share capital of Trident Home Textiles Ltd; which was already holding 24.5% shareholding of Trident Global Inc., therefore, due to the acquisition of Trident Home Textiles Limited, the Company holds 73.5% shareholding of Trident Global Inc. (Direct holding 49% and Indirect holding 24.5%).