After a year of turmoil, Trident Group, an Indian terry towel and wheat straw-based paper manufacturer, has recovered in the first quarter (Q1) of FY22 with revenue growing 107.4 per cent to Rs. 14,798.6 million against Rs. 7,133.6 million in the same period of previous fiscal. Textile segment’s sales escalated to Rs. 12,821.2 million (Q1 FY21: Rs. 5,857 million).
“The quarterly performance has been remarkable despite uncertainties due to Covid-19 and we shall continue to drive with focused and futuristic initiatives to build an organisation more dynamic and distinctive than ever before, creating value for stakeholders,” Rajinder Gupta, chairman at Trident Group, said in a press release.
EBITDA for the quarter ended on June 30, 2021, more than tripled to Rs. 3,824.5 million (Rs. 1,187.1 million), while EBIT expanded 712.8 per cent to Rs. 2,950.4 million (Rs. 363.0 million). Profit after tax totalled to Rs. 2,035.0 million.
In its recent expansion, the Indian manufacturer begun commercial production of yarn in new spinning unit with a capacity of 61,440 spindles and 480 rotors.
Bangladesh took its quantity-wise T-shirt shipment to USA to 19.18 million dozen and clocked US $ 471.19 million export turnover from the category, noting 62.85 per cent surge in values on yearly note.
India’s unit prices of shipped T-shirt in H1 ’21 valued US $ 33.82 per dozen, while the unit prices in case of Bangladesh hovered around US $ 24.56 per dozen.
It’s worth mentioning here that comparing India and Bangladesh in T-shirt shipment to USA, as both have neck-to-neck competition, India stands ahead of its neighbouring country when it comes to value-added T-shirt manufacturing for US buyers, while Bangladesh is still preferred for basic T-shirt commodities as suggested by data.
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