Trident has incorporated a unit in Singapore to expand global business

Trident has made a name for itself as a major force in a number of industries thanks to its wide array of products. The company’s 6200+ crore annual revenue is proof of its achievements and expansion over time. Trident provides high-quality products that satisfy a range of consumer needs and preferences, from chemicals to home textiles. Trident is able to reach a wider audience and uphold its reputation as a reliable brand in the industry thanks to its extensive array of offerings. Trident is positioned for even greater success in the future with sustained innovation and growth. Trident is one of the biggest producers of yarn in India, one of the biggest producers of agrobased paper worldwide, and one of the biggest manufacturers of towels worldwide. Trident is a manufacturer of vertically integrated textiles, including yarn, bath and bed linens, and paper made from wheat straw.

Trident overseas expansion: 

Trident notified us that Trident Group Enterprises Pte., an overseas wholly owned subsidiary, had been incorporated in Singapore.The company has incorporated Trident Group Enterprises by subscribing 1,000 common shares at a face value of $1 each, for a total of Rs $1,000. The new company is involved in investment, financing, textiles, Treasury, and other commercial activities. Arm was incorporated with the intention of diversifying and growing its current business operations in the international market, investigating potential new ventures, and conducting finance, investment, and treasury operations.

Q4 FY24 result for Trident:

In Q4 FY24, the consolidated net profit of textile producers decreased by 21.1% to Rs 73.73 crore from Rs 93.40 crore in Q1 FY24. For the quarter ended June 20,24, net sales increased 16.7% YoY to Rs 1,742.71 crore.

Stock price of Trident:

Currently, the stock price of the Trident is trading right now at Rs. 36.69 per share. Stock is showing an upside move and can see the great future with overseas business.

Conclusion: Trident is seeking opportunities for international growth, so this cooperation will benefit the company’s business.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.