Buy Trident, target price Rs 38: JM Financial

JM Financial has buy call on Trident with a target price of Rs 38. The current market price of Trident Ltd. is Rs 37.45.
Trident Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 19084.35 Crore) operating in Textiles sector.

Trident Ltd. key Products/Revenue Segments include Textiles, Paper, Export Incentives, Waste, Other Operating Revenue, Others, Sale of services for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 1811.95 Crore, up 20.39 % from last quarter Total Income of Rs 1505.08 Crore and up 25.57 % from last year same quarter Total Income of Rs 1442.94 Crore. Company reported net profit after tax of Rs 90.31 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 73.19 per cent stake in the company as of 30-Sep-2023, while FIIs owned 2.56 per cent, DIIs 0.05 per cent.