TRIDENT 2020-21 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

TRIDENT 2020-21 Annual Report Analysis
Wed, 20 Oct

TRIDENT has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

TRIDENT Income Statement Analysis

  • Operating income during the year fell 4.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 5.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.2% in FY21 as against 17.5% in FY20.
  • Depreciation charges increased by 0.9% and finance costs decreased by 35.0% YoY, respectively.
  • Other income declined by 32.8% YoY.
  • Net profit for the year declined by 11.5% YoY.
  • Net profit margins during the year declined from 7.2% in FY20 to 6.7% in FY21.

TRIDENT Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 47,277 45,306 -4.2%
Other income Rs m 397 267 -32.8%
Total Revenues Rs m 47,674 45,573 -4.4%
Gross profit Rs m 8,295 7,801 -5.9%
Depreciation Rs m 3,337 3,369 0.9%
Interest Rs m 1,109 721 -35.0%
Profit before tax Rs m 4,246 3,979 -6.3%
Tax Rs m 813 941 15.6%
Profit after tax Rs m 3,433 3,038 -11.5%
Gross profit margin % 17.5 17.2
Effective tax rate % 19.2 23.6
Net profit margin % 7.2 6.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Watch Full Replay: Rahul Shah's Lazy Millionaire Summit

TRIDENT Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 18 billion as compared to Rs 17 billion in FY20, thereby witnessing an increase of 8.6%.
  • Long-term debt down at Rs 3 billion as compared to Rs 7 billion during FY20, a fall of 63.0%.
  • Current assets rose 5% and stood at Rs 18 billion, while fixed assets fell 2% and stood at Rs 39 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 58 billion as against Rs 58 billion during FY20, thereby witnessing a fall of 0%.

TRIDENT Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 30,214 33,283 10.2
 
Current Liabilities Rs m 16,970 18,425 8.6
Long-term Debt Rs m 6,891 2,551 -63.0
Total Liabilities Rs m 57,765 57,717 -0.1
 
Current assets Rs m 17,519 18,321 4.6
Fixed Assets Rs m 40,246 39,396 -2.1
Total Assets Rs m 57,765 57,717 -0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TRIDENT Cash Flow Statement Analysis

  • TRIDENT's cash flow from operating activities (CFO) during FY21 stood at Rs 5 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -2 billion, an improvement of 263.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -6 billion, an improvement of 34% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -2 billion from the Rs 3 billion net cash flows seen during FY20.

TRIDENT Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 12,137 5,049 -58.4%
Cash Flow from Investing Activities Rs m -427 -1,549 -
Cash Flow from Financing Activities Rs m -8,624 -5,702 -
Net Cash Flow Rs m 3,088 -2,202 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TRIDENT

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.6, an decline from the EPS of Rs 0.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 41.8, stands at 42.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.6 times, while the price to sales ratio stands at 1.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 33.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 9.5 8.9
TTM Earnings per share Rs 0.7 0.6
Diluted earnings per share Rs 0.7 0.6
Price to Cash Flow x 30.7 33.2
TTM P/E ratio x 41.6 42.5
Price / Book Value ratio x 6.4 1.6
Market Cap Rs m 208,139 213,011
Dividends per share (Unadj.) Rs 0.4 0.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TRIDENT

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY21, from 1.0x during FY20. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 6.5x during FY21, from 4.8x during FY20. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 9.1% during FY21, from 11.4% during FY21. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 13.1% during FY21, from 14.4% during FY20. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 6.5% during FY21, from 7.9% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.0 1.0
Debtors’ Days Days 21 36
Interest coverage x 4.8 6.5
Debt to equity ratio x 0.2 0.1
Return on assets % 7.9 6.5
Return on equity % 11.4 9.1
Return on capital employed % 14.4 13.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how TRIDENT has performed over the last 5 years, please visit here.

TRIDENT Share Price Performance

Over the last one year, TRIDENT share price has moved up from Rs 7.9 to Rs 41.8, registering a gain of Rs 33.9 or around 428.4%.

Overall, the S&P BSE SENSEX is up 52.2% over the year.

(To know more, check out historical annual results for TRIDENT and quarterly results for TRIDENT)

Equitymaster requests your view! Post a comment on "TRIDENT 2020-21 Annual Report Analysis". Click here!

  

Related Views on News

TRIDENT Announces Quarterly Results (2QFY22); Net Profit Up 122.9% (Quarterly Result Update)

Oct 26, 2021 | Updated on Oct 26, 2021

For the quarter ended September 2021, TRIDENT has posted a net profit of Rs 2 bn (up 122.9% YoY). Sales on the other hand came in at Rs 17 bn (up 44.1% YoY). Read on for a complete analysis of TRIDENT's quarterly results.

TRIDENT Announces Quarterly Results (1QFY22); Net Profit Up 1976.4% (Quarterly Result Update)

Aug 16, 2021 | Updated on Aug 16, 2021

For the quarter ended June 2021, TRIDENT has posted a net profit of Rs 2 bn (up 1976.4% YoY). Sales on the other hand came in at Rs 15 bn (up 109.2% YoY). Read on for a complete analysis of TRIDENT's quarterly results.

More Views on News

Most Popular

Tata Steel vs SAIL: Which Stock is Better?(Views On News)

Jan 13, 2022

With government initiatives set to boost the steel sector, find out who has a better chance of coming out on top.

Watch Out for these 4 Indian Companies Betting Big on EV Supply Chain(Views On News)

Jan 11, 2022

The upside in supply chain players could be huge but a delay in the transition to EVs, or any policy related hiccups could end the momentum.

These 5 Penny Stocks are Held by Rakesh Jhunjhunwala. Worth a Look?(Views On News)

Jan 18, 2022

Rakesh Jhunjhunwala is holding these penny stocks in his portfolio for several years now.

Tech Mahindra's CTC Acquisition: Too Expensive?(Views On News)

Jan 18, 2022

Tech Mahindra's acquisition of European IT-company fails to excite investors.

Time to Buy Energy Stocks(Fast Profits Daily)

Jan 14, 2022

Energy is a sector that looks set to take off. It's time to get in.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

TRACK TRIDENT

  • Track your investment in TRIDENT with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

COMPARE TRIDENT WITH

MARKET STATS