#1ECO GREEN 4 75 G ECO GREEN Trident Limited Q2 FY21 Earnings Presentation soft comfort TRIDENT™ HOME DECOR | DESIGN The World's Finest Colors EPITOME HOME elegance ARTIZE TRID TRIDE TRIDENT GROUP Dusk & Dawn feather ch TRID TRID TRID TRID NATURAL NATURAL SPECTRA SPECTRA ROYAL TOUCH ROYAL TOUCH MY CHOICE AA TO GOM MY CHOICE DIGIPRINT DIGIPRINT SPECTRA BOND INDULGENCE ORGANICA#2Safe Harbour This presentation has been prepared by Trident Limited (the "Company") for general information purposes only, without regard to any specific objectives, suitability, financial situations and needs of any particular person and does not constitute any recommendation or form part of any offer or invitation, directly or indirectly, in any manner, or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. 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TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd. 2#3Overview Textiles Largest Player in terms of Terry Towel Capacity & One of the largest players in Home Textile Space in India Paper Highest Operating Margin among Key Listed Players in India Revenue Split between segments H1 FY21 FY20 FY19 FY18 TRIDENTGROUP™ 54% 51% 67% 48% Bath & Bed Linen 26% 30% 33% Yarn TRID TRID TRID TRID TRID TRID TRIDENTROUP ECO GREEN NATURAL SPECTRA 17% ROYAL TOUCH MY CHOICE DIGIPRINT SPECTRA BOND 16% 20% 19% 19% Paper One of the Leading Business Groups with interest in Textiles and Paper Q2 FY21 Earnings Presentation - Trident Ltd. 3#4Snapshot Key Market Statistics BSE Ticker NSE Ticker Bloomberg Code Reuters Market Price (Rs) 15-Oct-2020 521064 Global Presence Corporate Office: Manufacturing Facilities at: Marketing Offices (India): Trident TRID:IN TRIE.NS 7.65 3898/530 Marketing Offices (Intl.): 509.60* Rs. 1 per share 8.55/3.05 Market Cap (INR Crore / USD Mn) Number of Outstanding Shares (Crore) Face Value 52-week High/Low (Rs.) Shareholding Pattern - 30th Sep, 2020 Ludhiana, Punjab Sanghera & Dhaula, Punjab Budni, Madhya Pradesh Mumbai, Gurgaon Kolkata, Bengaluru New York, United States Cheshire, United Kingdom TRIDENTGROUP TRIDENTGROUP Category Promoters Public Sep, 2020 Jun, 2020 71.84% 71.07% 28.16% 28.93% TRIDENTGROUP TRIDENT GROUP TRIDENTGROUP TRIDENT GROUP TRIDENTGROUP *Each equity share having face value of Rs 10 each has been split into 10 equity shares with face value of Rs 1 each. Accordingly previous year figures have been recomputed TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd.#5Evolution TEXTILES ■ Inception Set-up 1st Spinning Unit Facility ■ Entered Home Textile with 1st Towel Manufacturing Unit ■ Set up Spinning Unit - II Augmented Towel with Unit-II set up Spinning with Unit- III set up ■ Set-up Towel Unit - III; ■ Added Spinning Units IV, V & VI ■Set-up Towel Unit-IV & First Bed Linen Unit ■ Added Spinning Units - VII, VIII, IX & X ■Launched Textile Brands Revenue (INR Cr) PAPER 1990-95 § 47 294 1996-00 706 2001 - 05 2006-10 米 2001-05 ■ Acquired Paper Manufacturing Facility along with Captive Power CAGR ~20% 1803 2006-10 2011 16 2011-16 Set-up Paper Unit II ■ Set-up Captive Power Facility ■Launched Paper Brands 4724 3816 FY 95 FY 00 FY 05 FY 10 FY 15 FY 20 Transformed from a Pure Play Yarn Player to an Integrated Textiles and Paper Manufacturer TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd. 1888 H1 FY 21 5#6Key Highlights - P&L Q2 FY21 TOTAL INCOME (INR CR) 1175 -11% Q2 FY20: 1326 EBIDTA (INR CR) 227 -12% Q2 FY20:259 EBIT (INR CR) 144 -17% Q2 FY20: 174 PBT (INR CR) 132 -11% Q2 FY20: 147 PAT (INR CR) 100 -27% Q2 FY20:137 EPS (INR) 0.20 -0.07 Q2 FY20: 0.27 ■ Home Textile segment led the improvement in current quarter with Bed Linen Segment registering revenue growth of 48% on Y-o-Y basis. ■ Enhanced captive consumption of yarn within Home Textile segment impacted the topline. 64% of total yarn captive consumption in Q2 FY21 vis-à- vis 52% in Q2 FY20 Exports contributed 68% of the total revenue for the quarter ■ Paper business sustained the volumes on Y-o-Y basis, however realizations have reduced due to Covid-19 impact ■ Finance Cost in Q2 FY21 reduced to INR 12.3 Crores, reduction of 55% as compared to INR 27.1 Crores in Q2 FY20 (on account of prepayment of term loans) ■ EBITDA Margin stood at 19.3% in Q2 FY21 TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd.#7Key Highlights - B/S as on Sep 30, 2020 NET DEBT (INR CR) 948-666Cr FY20: 1614 LT DEBT (INR CR) 483 -568Cr FY20: 1051 Repayment of Long Term Debt by INR 583 Crores in H1 FY21 including prepayment of term loans amounting to INR 373 Crores ■ Net Debt reduced significantly as on Sep 30, 2020 to INR 948 Crores as compared to Mar 31, 2020 level of INR 1614 Crores NET DEBT/EQUITY 0.3 FY20 : 0.5 NET DEBT/EBIDTA 1.4 FY20: 1.9 REPAYMENT (INR CR) 583 CASH PROFIT (INR CR) 276 H1 FY20: 178 H1 FY20: 430 TRIDENTGROUP™ Net Debt (INR CR) -1673 2621 2344 1614 1245 948 Mar'18 Mar'19 Mar'20 Jun'20 Sep'20 Q2 FY21 Earnings Presentation - Trident Ltd. 7#8P&L Statement (S) Particulars Q2 FY21 Q1 FY21 Shift Q2 FY20 Shift H1 FY21 Total Income 1174.6 713.4 +64.7% 1325.6 -11.4% 1887.9 EBITDA 226.9 118.7 +91.2% 259.0 -12.4% 345.7 EBITDA % 19.3% 16.6% +268bps 19.5% -22bps 18.3% Depreciation 83.1 82.4 0.8% 84.9 -2.1% 165.5 EBIT 143.8 36.3 +296.3% 174.1 -17.4% 180.1 Finance Cost 12.3 23.1 -46.7% 27.1 -54.6% 35.4 Profit Before Tax 131.5 13.2 +896.6% 147.0 -10.5% 144.7 Profit After Tax 100.2 10.1 +892.5% 137.1 -26.9% 110.3 EPS (INR) 0.20 0.02 0.27 0.22 Cash Profit 183.3 92.5 +98.2% 222.0 -17.4% 275.8 TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd. 8#9Dividend Payout Year Total Div% Div. Amt. (INR Per Share) Type %age Dividend Payout Ratio 3rd Interim 18% 65% FY20 36% 0.36/- 2nd Interim 9% 50% 1st Interim 9% 35% 27% Final 6% 3rd Interim 12% FY19 30% 0.30/- FY17 FY18 FY19 FY20 2nd Interim 6% 1st Interim 6% Historical Dividends (%age of Face Value) Final 3% 36% FY18 15% 0.15/- 2nd Interim 6% 30% 1st Interim 6% 15% 15% Final 3% FY17 15% 0.15/- 2nd Interim 6% 1st Interim 6% *Dividend Distribution Policy is available at www.tridentindia.com TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd. FY17 FY18 FY19 FY20 9#10Management Comment Commenting on the performance, Mr. Rajinder Gupta, Chairman at Trident Group said: "The company has shown high resilience and bounced back strongly with a good performance despite challenging circumstances While overall economic environment continues to be uncertain due to Covid-19 pandemic, we remain cautiously optimistic about the future" TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd. 10 10#11Textile - Financials Sales (INR Crores) 1094 991 Q2 FY20 Q2 FY21 Towel (In 000' tons) 49% 48% TRIDENTGROUP™ 06 06 Capacity Utilization Bed Linen (In mn. meters) 61% 29% 63% 60% 06 43.2 43.2 43.2 38% EBIT (INR Crores) 114 115 Q2 FY20 Q2 FY21 90% 98% FY19 FY20 Q1 FY21 Q2 FY21 FY19 FY20 Q1 FY21 Q2 FY21 FY19 Q2 FY21 Earnings Presentation - Trident Ltd. 43.2 115 Capacity 115 Yarn (In 000' tons) 92% 49% 94% 115 FY20 Q1 115 Q2 FY21 FY21 Utilization 11#12Paper - Financials Sales (INR Crores) 228 181 Q2 FY20 Q2 FY21 EBIT (INR Crores) 83 83 49 49 Capacity Utilization (Tonnage Basis) Copier v/s Non-Copier 89% 86% 56% 80% 175 175 175 175 FY19 FY20 Q1 FY21 Q2 FY21 Utilization TRIDENTGROUP™ Capacity Q2 FY21 Earnings Presentation - Trident Ltd. Q2 FY20 Q2 FY21 45% Q2 FY21 55% Copier Non-Copier 12#13Financial Performance Revenue (INR Cr) 1326 1175 Q2 FY20 Q2 FY21 PAT (INR Cr) 10.3% PAT PAT Margin 8.5% 137 100 Q2 FY20 Q2 FY21 TRIDENTGROUP™ EBIDTA (INR Cr) EBIDTA EBIDTA % 19.5% 259 Q2 FY20 Interest Coverage Ratio Q2 FY21 Earnings Presentation - Trident Ltd. 9.57 19.3% 227 Q2 FY21 18.45 Q2 FY20 Q2 FY21 13#14TRIDENTGROUP™ 4800 FY18 Financial Performance Net Debt (INR Cr.) 1.0 2621 Capital Employed 10.6% 4676 12.5% 2344 0.8 0.5 0.3 1614 948 Net Debt -D/E Ratio Net Worth (INR Cr) Net Worth ROE 16.6% 15.0% 13.3% 9.0% Capital Employed ◆ROCE Fixed Assets 14.1% 4234 2003 FY19 FY20 H1 FY21 FY18 FY19 FY20 H1 FY21 FY18 FY19 FY20 H1 FY21 3477 10.4% 4078 1.1 1.4 FY18 FY19 3848 1.2 2241 Fixed Assets Q2 FY21 Earnings Presentation - Trident Ltd. *Excludes fair valuation of land as per IND - AS and exceptional items 14 FY20 3826 3731 H1 FY21 1.0 2276 Assets Turnover 2453#15Key Ratios Particulars (INR crore) H1 FY21 FY20 FY19 Return on Capital Employed* 10.4% 12.5% 14.1% Return on Equity* 9.0% 15.0% 16.6% Interest Coverage 9.8 7.8 9.1 Net Debt to Equity 0.3 0.5 0.8 Net Debt / EBITDA 1.4 1.9 2.3 Credit Rating: TRIDENTGROUP™ ■ CRISIL AA-/ CARE AA- (LT Bank Facilities) ■ CRISIL A1+/ CARE A1+ (ST Bank Facilities) Q2 FY21 Earnings Presentation - Trident Ltd. *Excludes fair valuation of land as per IND - AS ■ CRISIL A1+/ CP Rating: IND A1+ 15#16Balance Sheet (S) Particulars (INR crore) As on Sep 30, 2020 As on Mar 31, 2020 Particulars (INR crore) As on Sep 30, 2020 As on Mar 31, 2020 Source of Funds Application of Funds Equity 3143.8 2966.9 Equity Share Capital 509.6 509.6 Non Current Assets Property, Plant & Equipment Capital Work-in-Progress 3856.9 3975.0 3450.3 3573.4 170.8 140.8 Other Equity 2634.2 2457.3 Intangible Assets 42.8 42.5 Non-Current Liabilities 685.3 1058.2 Right of Use Assets 66.6 69.3 Borrowings 317.3 689.1 Financial Assets 104.4 124.4 Other Non Current Assets 21.9 24.5 Deferred Tax Liabilities 334.9 336.7 Current Assets 1171.7 1743.4 Other Non Current Liabilities 33.1 32.4 Inventories 583.7 912.0 Current Liabilities 1199.4 1693.3 Financial Assets - Trade Receivables 317.1 278.5 Financial Liabilities 1149.8 1626.9 - Cash & Cash Equivalents 12.8 318.3 - Other Bank Balances 64.2 19.0 Provisions 22.5 21.3 - Other Financial Assets 125.5 107.0 Other Current Liabilities 27.1 45.0 Other Current Assets 68.4 108.5 TOTAL 5028.6 5718.4 TOTAL 5028.6 5718.4 TRIDENTGROUP™ Q2 FY21 Earnings Presentation - Trident Ltd. 16#17TRIDENTGROUP™ Thank You For more information about us, please visit www.tridentindia.com Abhinav Gupta/ Ankit Mahajan Investor Relations, Trident Limited Tel: +91 161 5039 999 Fax: +91 161 5039 900 Email: [email protected]; [email protected] Q2 FY21 Earnings Presentation - Trident Ltd. 17