CARE Ratings Reaffirms Trident’s Credit Ratings with ‘Stable’ Outlook

NEW Delhi: 07thMay, 2024: Trident Group, a vertically integrated textile and Paper manufacturer was conferred with CARE Ratings- reaffirming its credit ratings, demonstrating confidence in the company’s financial stability and operational resilience.

The long-term bank facilities of Trident have been reaffirmed at “CARE AA” with a ‘stable’ outlook, while the short-term rating stands at CARE A1+. This reaffirmation underscores Trident’s robust management, integrated operations, and strong customer relationships in the textile and paper sectors.

According to CARE Ratings, Trident’s bank facilities’ ratings are strengthened by its seasoned management, geographically diversified revenue stream, diversified and integrated operations spanning paper, textile, and chemicals, and long-standing relationships with major international retailers for its domestic textile business.

The organisation continues to prioritize stakeholder interests and leverages its strengths to navigate challenges effectively. The overall gearing is anticipated to remain comfortable in the medium term, backed by a strong net-worth foundation, notwithstanding an increase in term debt for large-scale debt-funded capex.

About Trident Group: Trident Limited is the flagship Company of Trident Group, an Indian business conglomerate and global player. Headquartered in Ludhiana, Punjab, Trident Limited is a vertically integrated textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer. Trident’s towels, yarns, bedsheets and paper businesses have earned global recognition and are delighting millions of customers across India and the world. Trident is one of the largest players in home textile in India. Supplying national, captive, and retailer owned brands; the organization is highly decorated with awards from its customers, vendors, and various government entities in recognition of advancing the highest standards in product quality, social responsibility, and environmental stewardship. The company operates in three major business segments: Textiles, Paper and Chemicals, with its manufacturing facilities in Punjab and Madhya Pradesh.