Trident Limited
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021
(INR In Million) | |||||||||||
Standalone | Consolidated | ||||||||||
Quarter Ended | Year Ended | Quarter Ended | Year Ended | ||||||||
Sr. | Particulars | March | December | March | March | March | March | December | March | March | March |
No | 31, 2021 | 31, 2020 | 31, 2020 | 31, 2021 | 31, 2020 | 31, 2021 | 31, 2020 | 31, 2020 | 31, 2021 | 31, 2020 | |
3 Months | 3 Months | 3 Months | 12 Months | 12 Months | 3 Months | 3 Months | 3 Months | 12 Months | 12 Months | ||
Audited (Refer | Unaudited | Audited (Refer | Audited | Audited | Audited (Refer | Unaudited | Audited (Refer | Audited | Audited | ||
Note 13 below) | Note 13 below) | Note 13 below) | Note 13 below) | ||||||||
Revenue from operations | |||||||||||
1 | Revenue from operations (Refer Note 4) | 13,499.9 | 12,899.3 | 9,904.9 | 45,192.9 | 46,994.6 | 13,449.5 | 13,031.5 | 9,912.2 | 45,306.2 | 47,276.7 |
2 | Other income | 26.3 | 50.0 | 67.7 | 160.2 | 244.9 | 22.0 | 50.9 | 63.3 | 160.8 | 202.4 |
3 | Total Income (1+2) | 13,526.2 | 12,949.3 | 9,972.6 | 45,353.1 | 47,239.5 | 13,471.5 | 13,082.4 | 9,975.5 | 45,467.0 | 47,479.1 |
4 | Expenses | ||||||||||
a) Cost of raw materials consumed | 5,884.1 | 5,749.5 | 4,653.3 | 20,020.4 | 21,772.5 | 5,884.1 | 5,747.1 | 4,653.3 | 20,018.0 | 21,772.5 | |
b) Purchase of stock-in-trade | 78.4 | 132.8 | - | 280.3 | - | 107.6 | 142.0 | 0.4 | 325.8 | 17.7 | |
c) Changes in inventories of finished goods, process waste, | 232.4 | (92.1) | (261.5) | (47.9) | (358.6) | 143.7 | (38.0) | (257.8) | (149.6) | (291.9) | |
work-in-progress and stock in trade | |||||||||||
d) Employee benefits expenses | 1,682.3 | 1,636.3 | 1,398.5 | 5,775.4 | 5,831.3 | 1,693.2 | 1,647.6 | 1,413.4 | 5,815.9 | 5,886.8 | |
e) Finance costs | 233.9 | 132.1 | 277.7 | 720.0 | 1,108.0 | 234.6 | 132.4 | 277.4 | 721.1 | 1,108.8 | |
f) Depreciation and amortisation expense | 879.9 | 829.6 | 815.4 | 3,364.6 | 3,333.0 | 881.2 | 830.5 | 816.3 | 3,368.5 | 3,336.9 | |
g) Forex (gain) (Including MTM) | (84.6) | (26.9) | (109.2) | (53.6) | (191.9) | (84.6) | (25.3) | (109.2) | (53.4) | (191.6) | |
h) Other expenses | 3,351.7 | 3,118.3 | 2,771.8 | 11,108.6 | 11,533.1 | 3,333.4 | 3,141.0 | 2,755.9 | 11,123.7 | 11,593.7 | |
Total expenses | 12,258.1 | 11,479.6 | 9,546.0 | 41,167.7 | 43,027.4 | 12,193.2 | 11,577.3 | 9,549.7 | 41,170.0 | 43,232.9 | |
5 | Profit before exceptional item and tax (3-4) | 1,268.1 | 1,469.7 | 426.6 | 4,185.4 | 4,212.1 | 1,278.3 | 1,505.1 | 425.8 | 4,297.0 | 4,246.2 |
6 | Exceptional (income)/expense (Refer Note 5 and 12) | 304.3 | (570.4) | - | (266.1) | - | 304.3 | 14.2 | - | 318.5 | - |
7 | Profit before share of profit of associates and tax (5-6) | 963.8 | 2,040.1 | 426.6 | 4,451.5 | 4,212.1 | 974.0 | 1,490.9 | 425.8 | 3,978.5 | 4,246.2 |
8 | Share of Profit/(loss) of associates | - | - | - | - | - | - | - | 10.1 | 5.9 | (35.8) |
9 | Net Profit before taxes (7+8) | 963.8 | 2,040.1 | 426.6 | 4,451.5 | 4,212.1 | 974.0 | 1,490.9 | 435.9 | 3,984.4 | 4,210.4 |
10 | Tax expenses (Refer Note 14) | ||||||||||
-Current tax | 296.2 | 538.8 | 167.9 | 1,304.1 | 1,300.6 | 300.6 | 464.2 | 171.3 | 1,253.3 | 1,317.1 | |
-Deferred tax (credit) | (48.6) | (96.3) | (136.9) | (269.9) | (508.0) | (51.0) | (94.8) | (136.7) | (272.7) | (505.2) | |
-Current tax adjustments related to earlier years | (1.4) | - | - | (1.4) | - | (1.4) | - | - | (1.4) | - | |
-Deferred tax adjustments related to earlier years | (38.7) | - | - | (38.7) | 1.5 | (38.7) | - | - | (38.7) | 1.5 | |
11 | Net profit after tax (9-10) | 756.3 | 1,597.6 | 395.6 | 3,457.4 | 3,418.0 | 764.5 | 1,121.5 | 401.3 | 3,043.9 | 3,397.0 |
12 | Other Comprehensive Income/(expense) net of taxes | ||||||||||
- Items that will not be reclassified to profit or loss | |||||||||||
- Remeasurement gain/(loss) of the defined benefit plan | 3.9 | - | (13.5) | 3.9 | (13.5) | 3.9 | - | (13.5) | 3.9 | (13.5) | |
- Share of Other Comprehensive Income of associates (net | - | - | - | - | - | - | - | - | - | 0.5 | |
of tax) | |||||||||||
- (Loss)/Gain on fair valuation of equity investments | - | - | 23.0 | 348.0 | (6.0) | - | - | 23.0 | 348.0 | (6.0) | |
through other comprehensive income | |||||||||||
- Income tax related to items that will not be reclassified | |||||||||||
to | (1.0) | - | 1.1 | (40.8) | 12.0 | (1.0) | - | 1.1 | (40.8) | 12.0 | |
profit or loss | |||||||||||
- Items that will be reclassified to profit or loss | |||||||||||
- Net movement in effective portion of cash flow hedge | (3.1) | 165.4 | (445.0) | 640.3 | (663.3) | (3.1) | 165.4 | (445.0) | 640.3 | (663.3) | |
reserve | |||||||||||
- Exchange differences in translating the financial | - | - | - | - | - | 0.1 | 0.4 | 0.1 | 0.7 | 1.2 | |
statements of a foreign operation | |||||||||||
- Income tax related to items that may be reclassified to | 0.8 | (41.6) | 113.8 | (161.1) | 189.5 | 0.8 | (41.6) | 113.8 | (161.1) | 189.5 | |
profit or loss | |||||||||||
13 | Total Comprehensive income (11+12) | 756.9 | 1,721.4 | 75.0 | 4,247.7 | 2,936.7 | 765.2 | 1,245.7 | 80.8 | 3,834.9 | 2,917.4 |
14 | Paid-up equity share capital (Face value of INR 1/- each) * | 5,096.0 | 5,096.0 | 5,096.0 | 5,096.0 | 5,096.0 | 5,096.0 | 4,979.4 | 4,979.4 | 5,096.0 | 4,979.4 |
15 | Other equity as per balance sheet | 28,069.5 | 24,573.0 | 28,187.2 | 25,234.6 | ||||||
16 | Earnings per share (EPS) face value (of INR 1/- each) | ||||||||||
(not annualised) (Refer Note 8) | |||||||||||
- Basic (INR) | 0.15 | 0.32 | 0.08 | 0.68 | 0.67 | 0.15 | 0.22 | 0.08 | 0.61 | 0.68 | |
- Diluted (INR) | 0.15 | 0.32 | 0.08 | 0.68 | 0.67 | 0.15 | 0.22 | 0.08 | 0.61 | 0.68 | |
See accompanying note to the Financial results |
* Reduced by effective number of own shares at par value held through an associate company for consolidated financial results except for quarter ended December 31, 2020, March 31, 2021 and year ended on March 31, 2021
Trident Limited
SEGMENT WISE REVENUE, RESULTS, SEGMENT ASSETS AND SEGMENT LIABILITIES
(INR In Million) | |||||||||||
Standalone | Consolidated | ||||||||||
Quarter Ended | Year Ended | Quarter Ended | Year Ended | ||||||||
Sr. | Particulars | March | December | March | March | March | March | December | March | March | March |
No. | 31, 2021 | 31, 2020 | 31, 2020 | 31, 2021 | 31, 2020 | 31, 2021 | 31, 2020 | 31, 2020 | 31, 2021 | 31, 2020 | |
3 Months | 3 Months | 3 Months | 12 Months | 12 Months | 3 Months | 3 Months | 3 Months | 12 Months | 12 Months | ||
Audited (Refer | Unaudited | Audited (Refer | Audited | Audited | Audited (Refer | Unaudited | Audited (Refer | Audited | Audited | ||
Note 13 below) | Note 13 below) | Note 13 below) | Note 13 below) | ||||||||
1 | Segment Revenue | ||||||||||
a) Textiles (Refer Note 4) | 11,318.6 | 11,077.7 | 7,767.0 | 38,160.9 | 37,776.0 | 11,268.2 | 11,209.9 | 7,774.3 | 38,274.2 | 38,058.1 | |
b) Paper & chemicals | 2,184.3 | 1,824.1 | 2,140.1 | 7,040.7 | 9,225.4 | 2,184.3 | 1,824.1 | 2,140.1 | 7,040.7 | 9,225.4 | |
Total | 13,502.9 | 12,901.8 | 9,907.1 | 45,201.6 | 47,001.4 | 13,452.5 | 13,034.0 | 9,914.4 | 45,314.9 | 47,283.5 | |
Less: Inter segment revenue | 3.0 | 2.5 | 2.2 | 8.7 | 6.8 | 3.0 | 2.5 | 2.2 | 8.7 | 6.8 | |
Revenue from operations | 13,499.9 | 12,899.3 | 9,904.9 | 45,192.9 | 46,994.6 | 13,449.5 | 13,031.5 | 9,912.2 | 45,306.2 | 47,276.7 | |
2 | Segment results | ||||||||||
Profit before tax, finance costs and other unallocable | |||||||||||
expenditure net off unallocable income from each | |||||||||||
segment | |||||||||||
a) Textiles | 1,199.1 | 1,445.0 | 330.8 | 3,924.6 | 3,017.6 | 1,209.8 | 1,480.6 | 334.1 | 4,036.8 | 3,095.0 | |
b) Paper & chemicals | 607.6 | 389.2 | 577.7 | 1,823.0 | 3,100.0 | 607.6 | 389.2 | 577.7 | 1,823.0 | 3,100.0 | |
Total | 1,806.9 | 1,834.2 | 908.5 | 5,747.6 | 6,117.6 | 1,817.5 | 1,869.8 | 911.8 | 5,859.8 | 6,195.0 | |
Less: | |||||||||||
a) Finance costs | 233.9 | 132.1 | 277.7 | 720.0 | 1,108.0 | 234.6 | 132.4 | 277.4 | 721.1 | 1,108.8 | |
b) Other un-allocable expenditure net off un-allocable | 304.9 | 232.5 | 204.2 | 842.2 | 797.5 | 304.6 | 232.4 | 208.6 | 841.7 | 840.0 | |
income | |||||||||||
c) Exceptional (income)/expense (Refer Note 5 and 12) | 304.3 | (570.4) | - | (266.1) | - | 304.3 | 14.2 | - | 318.5 | - | |
Profit before tax | 963.8 | 2,040.1 | 426.6 | 4,451.5 | 4,212.1 | 974.0 | 1,490.9 | 425.8 | 3,978.5 | 4,246.2 | |
3 | Segment Assets | ||||||||||
a) Textiles | 48,615.4 | 42,903.0 | 44,726.0 | 48,615.4 | 44,726.0 | 48,815.3 | 43,059.5 | 44,822.0 | 48,815.3 | 44,822.0 | |
b) Paper & chemicals | 5,377.7 | 5,483.0 | 5,271.2 | 5,377.7 | 5,271.2 | 5,377.7 | 5,483.0 | 5,271.2 | 5,377.7 | 5,271.2 | |
c) Unallocated | 3,548.5 | 4,164.9 | 7,186.3 | 3,548.5 | 7,186.3 | 3,523.5 | 4,139.6 | 7,671.6 | 3,523.5 | 7,671.6 | |
Total Assets | 57,541.6 | 52,550.9 | 57,183.5 | 57,541.6 | 57,183.5 | 57,716.5 | 52,682.1 | 57,764.8 | 57,716.5 | 57,764.8 | |
4 | Segment Liabilities * | ||||||||||
a) Textiles | 4,123.0 | 4,679.9 | 2,917.5 | 4,123.0 | 2,917.5 | 4,176.8 | 4,692.5 | 2,951.6 | 4,176.8 | 2,951.6 | |
b) Paper & chemicals | 916.4 | 995.4 | 908.8 | 916.4 | 908.8 | 916.4 | 995.4 | 908.8 | 916.4 | 908.8 | |
c) Unallocated | 3,927.2 | 3,866.4 | 4,113.9 | 3,927.2 | 4,113.9 | 3,930.5 | 3,876.2 | 4,116.1 | 3,930.5 | 4,116.1 | |
Total Liabilities | 8,966.6 | 9,541.7 | 7,940.2 | 8,966.6 | 7,940.2 | 9,023.7 | 9,564.1 | 7,976.5 | 9,023.7 | 7,976.5 |
* Excluding borrowings and Interest accrued but not due on borrowings
Trident Limited
STATEMENT OF ASSETS AND LIABILITIES
(INR In Million) | |||||
Standalone | Consolidated | ||||
Sr. | Particulars | As at | As at | As at | As at |
No. | March | March | March | March | |
31, 2021 | 31, 2020 | 31, 2021 | 31, 2020 | ||
Audited | Audited | Audited | Audited | ||
I | ASSETS | ||||
Non-current assets | |||||
a) Property, plant & equipment | 36,978.9 | 35,733.6 | 36,982.6 | 35,737.6 | |
b) Capital work in progress | 571.3 | 1,408.4 | 571.3 | 1,408.4 | |
c) Intangible assets | 386.9 | 381.3 | 387.4 | 381.5 | |
d) Right of use asset | 532.8 | 693.2 | 536.6 | 695.6 | |
e) Intangible assets under development | 71.6 | 43.9 | 71.6 | 43.9 | |
f) Investment in subsidiaries and associates | 25.0 | 575.0 | - | 1,060.7 | |
g) Financial Assets | |||||
i) Investments | 14.0 | 215.7 | 14.0 | 215.7 | |
ii) Other financial assets | 507.2 | 453.6 | 509.2 | 455.4 | |
h) Non Current tax assets (Net) | 137.6 | 71.2 | 137.6 | 71.2 | |
i) Other non current assets | 184.7 | 174.1 | 185.5 | 175.5 | |
Total non-current assets | 39,410.0 | 39,749.9 | 39,395.8 | 40,245.5 | |
Current assets | |||||
a) Inventories | 10,082.8 | 9,119.8 | 10,229.8 | 9,164.1 | |
b) Financial Assets | |||||
i) Trade receivables | 4,545.1 | 2,784.8 | 4,486.5 | 2,753.5 | |
ii) Cash and cash equivalents | 984.1 | 3,183.2 | 986.6 | 3,188.5 | |
iii) Other bank balances | 139.1 | 190.3 | 199.4 | 190.4 | |
iv) Other financial assets | 991.8 | 1,070.0 | 994.2 | 1,073.2 | |
c) Other current assets | 1,388.7 | 1,085.5 | 1,424.2 | 1,149.6 | |
Total current assets | 18,131.6 | 17,433.6 | 18,320.6 | 17,519.3 | |
TOTAL ASSETS | 57,541.6 | 57,183.5 | 57,716.5 | 57,764.8 | |
II | EQUITY AND LIABILITIES | ||||
Equity | |||||
a) Equity Share capital * | 5,096.0 | 5,096.0 | 5,096.0 | 4,979.4 | |
b) Other equity (Refer Note 8) | 28,069.5 | 24,573.0 | 28,187.2 | 25,234.6 | |
Equity attributable to shareholders of the Company | 33,165.5 | 29,669.0 | 33,283.2 | 30,214.0 | |
Total Equity | 33,165.5 | 29,669.0 | 33,283.2 | 30,214.0 | |
Liabilities | |||||
Non-current liabilities | |||||
a) Financial Liabilities | |||||
i) Borrowings | 2,550.9 | 6,890.6 | 2,550.9 | 6,890.7 | |
ii) Lease liabilities | 251.4 | 323.9 | 254.3 | 323.9 | |
b) Deferred tax liabilities (Net) | 3,207.5 | 3,367.3 | 3,203.4 | 3,366.1 | |
Total non-current labilities | 6,009.8 | 10,581.8 | 6,008.7 | 10,580.7 | |
Current liabilities | |||||
a) Financial Liabilities | |||||
i) Borrowings | 12,336.1 | 9,008.8 | 12,336.2 | 9,008.8 | |
ii) Lease liabilities | 12.2 | 65.5 | 13.1 | 67.6 | |
iii) Trade payables | |||||
-Total Outstanding dues of micro Enterprise and Small enterprises | 115.7 | 327.5 | 115.7 | 327.5 | |
-Total Outstanding dues other than micro enterprise and small | 2,841.4 | 1,675.6 | 2,869.6 | 1,695.2 | |
enterprises | |||||
iv) Other financial liabilities | 2,220.7 | 5,191.7 | 2,226.0 | 5,200.2 | |
b) Provisions | 222.2 | 213.1 | 222.5 | 213.4 | |
c) Other current liabilities | 618.0 | 450.5 | 637.8 | 456.0 | |
d) Current tax liabilities (Net) | - | - | 3.8 | 1.4 | |
Total current liabilities | 18,366.3 | 16,932.7 | 18,424.7 | 16,970.1 | |
TOTAL LIABILITIES | 24,376.1 | 27,514.5 | 24,433.3 | 27,550.8 | |
TOTAL EQUITY AND LIABILITIES | 57,541.6 | 57,183.5 | 57,716.5 | 57,764.8 |
* Reduced by effective number of own shares at par value held through an associate company for consolidated financial results for year ended March 31, 2020.
STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021
(Rs. million) | ||||||||
Particulars | For the year ended | For the year ended | ||||||
March 31, 2021 | March 31, 2020 | |||||||
A. | CASH FLOW FROM OPERATING ACTIVITIES | |||||||
Profit before tax | 4,451.5 | 4,212.1 | ||||||
Adjustments for: | ||||||||
Depreciation and amortization expense | 3,364.6 | 3,333.0 | ||||||
Interest expense | 672.4 | 1,080.9 | ||||||
Interest income | (86.1) | (168.3) | ||||||
(Profit) on sale of current investments | - | (28.3) | ||||||
Provision for doubtful debts and advances no longer required written back | (52.7) | (3.2) | ||||||
Net (gain) / loss arising on financial assets mandatorily measured at fair value | (0.3) | 1.1 | ||||||
through profit or loss | ||||||||
Loss on sale of non current investments | - | 0.2 | ||||||
(Profit) on sale of investment in associate company disclosed as exceptional item | (570.4) | - | ||||||
Depreciation on reversal of excess capital subsidies disclosed as exceptional item | 51.7 | - | ||||||
Reversal of excess interest subsidies and interest on reversal of excess interest and | 252.6 | - | ||||||
capital subsidies disclosed as exceptional item | ||||||||
Pre-operative expenses written off | - | 200.0 | ||||||
Modification of lease liabilities | (11.8) | - | ||||||
Expected credit loss allowance on non current financial assets | 30.0 | 43.7 | ||||||
Unrealized foreign exchange loss/(gain) | 33.5 | (89.5) | ||||||
Dividend income | - | (3.5) | ||||||
Loss on disposal of property, plant and equipment (net) | 30.2 | 3,713.8 | 5.7 | 4,371.8 | ||||
Operating profit before working capital changes | 8,165.3 | 8,583.9 | ||||||
Changes in working capital: | ||||||||
Adjustments for (increase)/decrease in operating assets: | ||||||||
Inventories | (963.0) | 889.8 | ||||||
Trade receivables | (1,758.9) | 3,908.7 | ||||||
Other current financial assets | (59.9) | (44.5) | ||||||
Other non current financial assets | (119.4) | (6.6) | ||||||
Other current assets | (275.9) | (41.5) | ||||||
Other non current assets | 10.9 | (27.6) | ||||||
Adjustments for increase/(decrease) in operating liabilities: | ||||||||
Trade payables | 951.5 | 231.2 | ||||||
Other current financial liabilities | 333.7 | (173.1) | ||||||
Other current liabilities | 119.9 | 154.8 | ||||||
Current provisions | 9.1 | (1,752.0) | 20.6 | 4,911.8 | ||||
Cash generated from operations | 6,413.3 | 13,495.7 | ||||||
Direct taxes paid (net) | (1,422.2) | (1,401.3) | ||||||
Net cash flow from operating activities (A) | 4,991.1 | 12,094.4 | ||||||
B. | CASH FLOW FROM INVESTING ACTIVITIES | |||||||
Payment for property, plant and equipment | (3,334.4) | (1,640.7) | ||||||
Proceeds from sale of property, plant and equipment | 35.4 | 30.1 | ||||||
Purchase of current investments | - | (14,717.9) |
STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021
(Rs. million) | ||||
Particulars | For the year ended | For the year ended | ||
March 31, 2021 | March 31, 2020 | |||
Proceeds from sale of current investments | - | 15,665.8 | ||
Proceeds from disposal of investment in an Associate company | 1,120.4 | - | ||
Proceeds from sale of non current investments | 550.0 | 132.0 | ||
Interest received | 88.9 | 189.2 | ||
Dividend received | - | 3.5 | ||
Bank balances not considered as cash and cash equivalents | ||||
- Placed | (500.0) | (1,758.3) | ||
- Matured | 549.9 | 1,761.1 | ||
Net cash (used) in investing activities (B) | (1,489.8) | (335.2) | ||
C. CASH FLOW FROM FINANCING ACTIVITIES | ||||
Acquisition of treasury shares by Trident Limited Employee Welfare Trust | (751.0) | - | ||
Proceeds from issue of Non-Convertible Debentures | 1,247.0 | - | ||
Proceeds from non current borrowings | 1,607.9 | 278.9 | ||
Repayment of non current borrowings | (10,355.6) | (2,728.4) | ||
Net (decrease) in working capital borrowings payable on demand/having maturities | (2,922.7) | (2,410.8) | ||
of less than three months | ||||
Proceeds from short term borrowings having a maturity of more than three months | 6,250.0 | |||
Interest paid | (716.4) | (1,168.1) | ||
Lease payments made | (59.6) | (62.2) | ||
Dividend paid on equity shares (including dividend distribution tax) | - | (2,580.2) | ||
Net cash (used) in financing activities (C) | (5,700.5) | (8,670.8) | ||
Net (decrease)/increase in cash and cash equivalents (A+B+C) | (2,199.1) | 3,088.4 | ||
Cash and cash equivalents at the beginning of the year | 3,183.2 | 94.8 | ||
Cash and cash equivalents at the end of the year* | 984.1 | 3,183.2 | ||
* Comprises: | ||||
Cash on hand | 27.1 | 65.9 | ||
Balances with banks : | ||||
- In current accounts | 27.5 | 33.5 | ||
- In cash credit accounts | 928.0 | |||
- In other deposits accounts | ||||
(Original maturity of 3 months or less) | 1.5 | 3,083.8 | ||
984.1 | 3,183.2 |
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Trident Limited published this content on 15 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 08:23:01 UTC.