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.