Trident Limited, the flagship company of Ludhiana based Trident Group, has commenced production at its integrated bed linen project of 500 looms capable of producing 43.2 million metres of bed linen per annum and approximately 1.90 lakh yarn spindles for captive consumption at Budni in Madhya Pradesh.
“The said project involves capital investment of Rs 1,667 crore and it will add potential revenue of Rs 1,200 crore at optimum utilisation,” the company informed the National Stock Exchange and the BSE.
The technology for bed linen production is expected to be stabilised by the fourth quarter of FY16, and 50-60 per cent utilisation is expected to be achieved by FY17.
Post this expansion, the total capacity of Trident’s textile division is 688 looms of terry towel, 500 looms of bed linen, 5.55 lakh yarn spindles, and 5,504 rotors of cotton and blended yarn.
For the quarter ended June 30, 2015, Trident Limited’s net profit soared 89 per cent to Rs 61 crore compared to net profit of Rs 32.3 crore in the corresponding quarter of previous fiscal.
However, net sales had declined during the quarter by 3.7 per cent to Rs 879.1 crore due to lower yarn realisations and higher captive consumption of yarn. (RKS)