Trident Limited (TRIDENT) AI Stock Analysis

• Market Cap: ₹123.63B
• Dividend Yield: 1.84%
• Average Volume (3M): 659.27K
• Price to Earnings (P/E): 74.3
• Beta (1Y): 0.97
• 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): 0.9
• Revenue Forecast (FY): ₹76.88B

• Rating: 64 Neutral
• Price Target: ₹26.00 ▼(-2.33% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is supported primarily by strong financial performance, especially the turnaround to positive free cash flow and strong cash conversion. Technicals are mixed with price below key longer-term averages and negative MACD, and valuation is a notable headwind due to the high P/E despite a moderate dividend yield.

Positive Factors

Free cash flow turnaround

A sustained shift to positive free cash flow and an OCF-to-net-income ratio of 2.55 indicates durable cash-generation improvement. Over 2-6 months this supports capex funding, debt reduction, working-capital flexibility and the ability to invest in higher-margin finished goods or bolster distribution without relying on external financing.

High gross and EBIT margins

Robust gross and EBIT margins point to efficient manufacturing, favorable product mix or pricing power in textiles and paper. These structural operating efficiencies provide a durable profit buffer versus peers, enabling the company to absorb input cost swings and sustain investments in quality or branding across multiple quarters.

Conservative balance sheet

A strong equity ratio and low leverage reflect a conservative capital structure that enhances financial resilience. Over the medium term this reduces interest expense risk, preserves borrowing capacity for strategic investments, and gives management latitude to pursue growth or return capital without compromising liquidity.

Negative Factors

Modest net profit margin

Despite strong gross and EBIT margins, a net margin near 5.3% suggests meaningful non-operating costs, taxes or pricing pressure that erode bottom-line conversion. Persistently low net margin limits retained earnings and shareholder returns, and reduces the cushion against demand downturns or commodity-driven cost inflation.

Low return on equity

An ROE of 8% signals that the company may not be extracting strong returns from its equity base. Over the medium term this may reflect suboptimal capital deployment, low pricing power, or asset underutilization, posing a structural constraint on improving shareholder returns absent operational or strategic change.

Exposure to input and export cyclicality

Revenue and margins are structurally sensitive to cotton, energy and other input costs plus export demand cycles. These industry-linked exposures can produce sustained margin volatility and require ongoing cost management or hedging; persistent adverse moves would compress profits and constrain reinvestment.

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 primarily makes money by manufacturing and selling (1) home textile products and (2) paper products. In textiles, revenue is generated from sales of terry towels, bed linen, and yarn to retailers, brands, institutional buyers, and other businesses, including customers in export markets; earnings in this segment are driven by volumes shipped, product mix (e.g., higher-value finished home textile goods versus yarn), and realized pricing, which can be influenced by input costs (such as cotton and energy) and demand conditions. In paper, the company earns revenue from the sale of paper and related offerings to commercial and industrial customers; profitability similarly depends on sales volumes, pricing, and manufacturing/input-cost dynamics. The company’s overall revenue model is therefore largely product-sales driven, with performance shaped by capacity utilization, export demand, raw material prices, and distribution reach. Specific details on major customer contracts, named partnerships, or the precise split of revenue by sub-product are null.

Trident Limited Financial Statement Overview

Summary

Solid fundamentals led by improved cash generation (free cash flow turned positive; operating cash flow to net income at 2.55) and healthy operating efficiency (gross margin ~48.41%, EBIT margin ~35.22%). Offsetting this is 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	70.25B	69.87B	68.09B	63.32B	69.98B	45.31B
Gross Profit	33.68B	33.42B	33.00B	29.15B	36.19B	24.86B
EBITDA	9.73B	9.00B	9.30B	9.29B	14.89B	8.07B
Net Income	4.44B	3.70B	3.50B	4.41B	8.34B	3.04B
Balance Sheet
Total Assets	72.18B	71.61B	75.63B	68.29B	64.89B	57.72B
Cash, Cash Equivalents and Short-Term Investments	7.81B	6.81B	4.84B	3.46B	2.75B	1.07B
Total Debt	16.05B	16.35B	21.26B	14.42B	15.97B	15.62B
Total Liabilities	26.00B	25.40B	32.46B	26.35B	26.44B	24.43B
Stockholders Equity	46.19B	46.21B	43.15B	41.93B	38.45B	33.28B
Cash Flow
Free Cash Flow	5.45B	7.15B	-3.60B	6.47B	5.41B	1.71B
Operating Cash Flow	6.45B	9.45B	2.87B	14.26B	9.03B	5.05B
Investing Cash Flow	-3.98B	-2.05B	-7.18B	-11.65B	-3.43B	-1.55B
Financing Cash Flow	-2.97B	-6.82B	3.40B	-4.10B	-3.87B	-5.70B

Trident Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 26.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 Neutral. The current price of 26.62 is above the 20-day moving average (MA) of 24.18, above the 50-day MA of 25.51, and below the 200-day MA of 28.12, indicating a neutral trend. The MACD of -0.71 indicates Negative momentum. The RSI at 48.49 is Neutral, neither overbought nor oversold. The STOCH value of 68.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	₹80.85B	30.50	―	3.28%	3.01%	22.98%
VTL	68 Neutral	₹153.55B	18.70	―	1.13%	2.50%	6.26%
VGUARD	67 Neutral	₹141.79B	62.71	―	0.45%	6.34%	-2.25%
TRIDENT	64 Neutral	₹123.63B	74.25	―	1.84%	0.75%	37.44%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
GODREJAGRO	58 Neutral	₹113.24B	23.92	―	1.92%	5.24%	9.79%
LMW	46 Neutral	₹146.29B	272.89	―	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.