Trident Limited (TRIDENT) AI Stock Analysis

• Market Cap: ₹131.93B
• Dividend Yield: 1.84%
• Average Volume (3M): 659.27K
• Price to Earnings (P/E): 31.9
• Beta (1Y): 1.00
• Revenue Growth: 0.75%
• EPS Growth: 37.44%
• Country: IN
• Employees: 14,578
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Apparel - Manufacturers
• EPS (TTM): 0.09
• Shares Outstanding: 5,095,955,600
• 10 Day Avg. Volume: 384,043
• 30 Day Avg. Volume: 659,272
• PEG Ratio: 5.98
• Price to Book (P/B): 2.78
• Price to Sales (P/S): 1.84
• P/FCF Ratio: 17.93
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ₹28.00 ▲(5.18% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is primarily supported by strong financial performance, especially improved cash generation and solid revenue growth with healthy gross margins. Technicals are moderately positive with price holding above key moving averages, though momentum indicators are mixed (slightly negative MACD). Valuation is the main constraint, with a high P/E and only a modest dividend yield.

Positive Factors

Cash Generation

A durable shift to positive free cash flow and an OCF-to-net-income ratio of 2.55 signals stronger internal funding capacity. This improves flexibility to fund capex, pay down debt, or support dividends without reliance on external financing, enhancing resilience across cycles.

Revenue & Gross Margin

Consistent revenue growth paired with a near-48% gross margin indicates enduring demand and efficient production. High gross margins provide a structural buffer versus input cost swings and support sustainable operating profit generation if SG&A and other overheads remain controlled.

Conservative Balance Sheet

A strong equity base and low leverage provide long-term financial flexibility. Conservative gearing reduces refinancing and solvency risk through downturns, allows opportunistic investment or capacity expansion, and supports steady capital allocation decisions.

Negative Factors

Low Net Margin

A modest net margin despite high gross margins indicates limited conversion to bottom-line profits, likely from operating, financing, or tax pressures. This constrains retained earnings and long-term ability to deliver strong earnings growth to shareholders without margin improvement.

Subdued ROE

ROE of ~8% signals the company is generating modest returns on shareholder capital. Over months this reflects either low operating leverage or capital intensity, limiting shareholder-value creation and making future equity-funded growth less accretive without higher returns.

Input-Cost Exposure

Textiles and paper are exposed to commodity and energy price volatility which can persist for months. Structural swings in cotton or energy costs can erode margins and cash flow unless passed to customers or hedged, adding a recurring fundamental risk to profitability.

Trident Limited Business Overview & Revenue Model

Company Description

Trident Limited engages in manufacturing, trading, and sale of textiles, papers, and chemicals in the United States, India, and internationally. It provides cotton combed, special open-end, organic cotton, core spun, blended, eli-twist, slub, compact, air rich, certified cotton, mélange, packed dye, gassed mercerized, zero twist, wrapper, bamboo/cotton, modal/cotton, soya/cotton, polyester/cotton, BCI cotton, BMP cotton, and dyed yarns; home textiles; bath linen products; and bed linen products. The company also offers copier, writing and printing maplitho, bible and offset print, bond, stiffener, cartridge, index, watermark, drawing, digital printing, carry bag, wedding card, sublimation, and virgin unbleached kraft papers; and commercial, battery, and laboratory reagent grade sulphuric acid. It also exports its products. The company was formerly known as Abhishek Industries Limited and changed its name to Trident Limited in April 2011. Trident Limited was incorporated in 1990 and is headquartered in Ludhiana, India.

How the Company Makes Money

Trident Limited generates revenue through multiple streams, primarily from the sale of its textile products, which include yarn and home textiles, as well as its paper products. The textile division accounts for a significant portion of its earnings, driven by demand from the global apparel industry. Additionally, the company has a chemicals segment that contributes to its revenue. Trident has established partnerships with various retailers and distributors, enhancing its market reach. The company also focuses on exporting a substantial portion of its products, which provides a steady influx of foreign currency. Furthermore, initiatives aimed at sustainability and innovation help maintain a competitive edge, potentially increasing profitability.

Trident Limited Financial Statement Overview

Summary

Strong overall fundamentals driven by solid revenue growth (8.55% from 2024 to 2025), robust gross margin (~48.41%), and a meaningful cash flow turnaround with positive free cash flow in 2025 and strong cash conversion (operating cash flow to net income ratio of 2.55). Offsetting factors include a modest net margin (5.29%) and relatively low ROE (8.00%).

Income Statement

Trident Limited has demonstrated strong revenue growth, with a notable increase from 2024 to 2025, reflecting a 8.55% growth rate. The gross profit margin is robust at approximately 48.41% in 2025, indicating efficient production processes. However, the net profit margin remains modest at 5.29%, suggesting room for improvement in cost management or pricing strategies. The EBIT margin has improved significantly to 35.22%, showcasing enhanced operational efficiency.

Balance Sheet

The company's balance sheet shows a healthy equity ratio of 64.55% for 2025, indicating a strong equity base relative to total assets. The debt-to-equity ratio is 0.35, suggesting a conservative use of debt. However, the return on equity (ROE) is relatively low at 8.00%, indicating that the company could optimize its use of equity to generate higher returns.

Cash Flow

Trident Limited has shown a remarkable improvement in its cash flow position. The free cash flow has turned positive in 2025, marking a significant turnaround from 2024. The operating cash flow to net income ratio is 2.55, highlighting strong cash generation relative to earnings. This indicates solid operational cash flow management and the ability to fund future investments or reduce debt.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	69.51B	69.87B	68.09B	63.32B	69.98B	45.31B
Gross Profit	33.79B	33.42B	33.00B	29.15B	36.19B	24.86B
EBITDA	9.63B	9.00B	9.30B	9.29B	14.89B	8.07B
Net Income	4.36B	3.70B	3.50B	4.41B	8.34B	3.04B
Balance Sheet
Total Assets	0.00	71.61B	75.63B	68.29B	64.89B	57.72B
Cash, Cash Equivalents and Short-Term Investments	6.81B	6.81B	4.84B	3.46B	2.75B	1.07B
Total Debt	0.00	16.35B	21.26B	14.42B	15.97B	15.62B
Total Liabilities	-46.21B	25.40B	32.46B	26.35B	26.44B	24.43B
Stockholders Equity	46.21B	46.21B	43.15B	41.93B	38.45B	33.28B
Cash Flow
Free Cash Flow	0.00	7.15B	-3.60B	6.47B	5.41B	1.71B
Operating Cash Flow	0.00	9.45B	2.87B	14.26B	9.03B	5.05B
Investing Cash Flow	0.00	-2.05B	-7.18B	-11.65B	-3.43B	-1.55B
Financing Cash Flow	0.00	-6.82B	3.40B	-4.10B	-3.87B	-5.70B

Trident Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 26.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TRIDENT, the sentiment is Negative. The current price of 26.62 is below the 20-day moving average (MA) of 26.83, above the 50-day MA of 26.49, and below the 200-day MA of 28.66, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 45.88 is Neutral, neither overbought nor oversold. The STOCH value of 32.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TRIDENT.

Trident Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PGHL	73 Outperform	₹85.66B	29.19	―	3.28%	3.01%	22.98%
TRIDENT	69 Neutral	₹131.93B	31.92	―	1.84%	0.75%	37.44%
VTL	68 Neutral	₹156.04B	19.31	―	1.13%	2.50%	6.26%
VGUARD	67 Neutral	₹136.73B	47.50	―	0.45%	6.34%	-2.25%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
GODREJAGRO	58 Neutral	₹122.77B	27.98	―	1.92%	5.24%	9.79%
LMW	46 Neutral	₹165.48B	144.06	―	0.20%	―	―

Trident Limited Corporate Events

Trident Says No Undisclosed Events Behind Surge in Share Volume

Trident Limited has responded to queries from the National Stock Exchange of India regarding a significant increase in trading volume of its shares, stating it is not aware of any undisclosed, price-sensitive information or events that would explain the market activity. The company emphasized that its share price and volume are purely market driven, reiterated its ongoing compliance with SEBI listing regulations and timely disclosure practices, and declined to comment directly on the recent stock movement.

By confirming the absence of any undisclosed material developments, Trident aims to reassure investors and regulators that there is no insider information driving the unusual trading pattern. The clarification underscores the company’s posture of regulatory adherence and transparency at a time of heightened market scrutiny, helping to stabilize expectations among shareholders and the broader market.

Trident Submits SEBI Demat Compliance Certificate for December Quarter

Trident Limited has notified the stock exchanges that it has obtained and submitted the requisite compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025, as issued by its registrar and share transfer agent, KFin Technologies Limited. The filing confirms that details of securities dematerialised and rematerialised during the quarter have been duly furnished to all stock exchanges where Trident’s shares are listed, underscoring the company’s adherence to depository regulations and its ongoing focus on maintaining transparent, regulation-compliant shareholding records for stakeholders.

Trident Limited Opens Special Window for Share Transfer Re-lodgement

Trident Limited has announced a special window for the re-lodgement of transfer requests for physical shares, applicable from July 7, 2025, to January 6, 2026. This initiative is aimed at shareholders whose original share transfer requests were rejected or not processed due to documentation deficiencies or other reasons, and the shares will be processed in dematerialized form during this period.