Overview

Detailed Summary

Trident Texofab Limited is a semi-composite textile manufacturer and trader based in Surat, India, producing a wide range of home furnishings, garments, suiting, shirting, technical textiles, digital-printed and embroidered fabrics; the company transitioned from trading to manufacturing since FY19 and now combines manufacturing capacities with contract services to serve domestic and export customers.
Since FY18 Trident executed a deliberate 'Shifting Gears' strategy, moving manufacturing from nil to 63% of revenues by FY25 and recording manufacturing contributing 61.8% of Q3FY26 sales; this transformation, supported by three CAPEX phases and capacity now near 250 lakh meters annually, materially repositions the company toward higher margin manufacturing.
Q3FY26 revenue fell 19% year-on-year to ₹2,574.09 lakhs and EBITDA margins compressed to 6.39% (-94bps YoY), yet PAT rose 90% YoY to ₹57.01 lakhs; nine‑month PAT of ₹361.65 lakhs registered 65% growth, highlighting volatile top-line but improved bottom-line driven by lower finance costs and controlled operating expenses.
Management reiterates a focused manufacturing-first strategy, citing a recent capital infusion that 'better positions' the company to capitalise on growth opportunities; the founder-driven leadership and compact team of approximately 65 employees underscore a lean operating model intent on improving utilisation and profitability across digital printing, embroidery and weaving operations.

Sector: Textiles
Industry: Textiles - Others
Market Cap: 107 Cr
Volatility: Low Risk
P/E Ratio: 33.2
Industry P/E: 21.8
PEG Ratio: 0.9
P/B Ratio: 1.9
52W High: 379.00
52W Low: 71.30

Sales CAGR

1Y: 22.70%
3Y: 13.13%
5Y: 5.03%
10Y: 7.07%

Profit CAGR

1Y: 132.41%
3Y: 36.70%
5Y: 22.76%
10Y: 51.82%

ROE

TTM: 5.19%
3Y: 7.38%
5Y: 6.90%
10Y: 7.38%

ROCE

TTM: 8.48%
3Y: 13.45%
5Y: 12.23%
10Y: 12.82%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AARNAV	26.35	111 Cr	15.68	0.58	0.00	5.01	7.69	1.76
GLOBE	2.46	111 Cr	11.53	0.73	0.00	5.56	9.04	2.06
FIBERWEB	42.00	110 Cr	19.81	0.63	0.00	4.53	5.33	3.23
LOVABLE	73.00	108 Cr	30.93	0.63	0.00	1.17	-2.18	1.75
JASCHIND	157.95	107 Cr	4.77	0.91	0.00	18.46	24.06	13.30
TTFL	71.30	107 Cr	33.20	1.88	0.00	5.19	8.48	2.85
TEXELIN	77.99	102 Cr	14.00	2.52	0.00	18.34	17.99	10.08

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	23	23	30	26	26	32	38	28	31	26
Expenses	22	21	29	24	27	29	37	26	28	24
Operating Profit	1.25	1.90	1.01	1.52	-0.28	2.32	1.36	2.07	2.48	1.64
OPM %	5.39	8.26	3.35	5.91	-1.06	7.32	3.56	7.37	8.10	6.37
Other Income	1.03	0.11	0.39	0.86	2.76	-0.21	0.43	0.44	0.39	0.38
Interest	1.07	0.93	1.14	1.05	1.13	1.38	0.99	0.73	0.96	0.87
Depreciation	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41
Profit Before Tax	0.81	0.67	-0.14	0.92	0.95	0.32	0.38	1.37	1.51	0.74
Tax %	7.41	16.42	28.57	23.91	-6.32	6.25	-34.21	25.55	25.17	22.97
Net Profit	0.75	0.56	-0.10	0.70	1.00	0.30	0.51	1.02	1.13	0.57
EPS in Rs	0.50	0.37	-0.07	0.46	0.67	0.13	0.35	0.69	0.74	0.37

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	76	89	91	96	50	84	96	99	122	124
Expenses	75	84	84	86	47	80	90	93	117	119
Operating Profit	1.15	4.64	6.79	9.38	2.88	4.79	6.31	6.16	5.47	5.47
OPM %	1.51	5.24	7.44	9.82	5.77	5.68	6.55	6.19	4.48	4.40
Other Income	0.24	0.48	0.46	0.42	1.90	0.78	1.77	0.70	3.30	3.42
Interest	0.68	0.77	0.86	2.71	2.85	2.83	3.71	4.04	4.55	4.23
Depreciation	0.13	0.13	0.30	1.01	1.02	1.47	1.64	1.65	1.65	1.64
Profit Before Tax	0.56	1.04	1.69	1.53	0.90	1.27	2.73	1.17	2.58	3.02
Tax %	41.61	27.66	24.59	41.13	60.95	22.83	18.62	7.61	2.55	6.29
Net Profit	0.33	0.75	1.27	0.90	0.35	0.98	2.22	1.08	2.51	2.83
EPS in Rs	—	—	0.99	0.56	0.29	0.66	1.48	0.72	1.61	2.15
Dividend Payout %	0.00	43.10	31.35	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.33	0.33	4.00	4.00	4.00	10	10	10	10	14
Reserves	3.13	3.46	4.27	6.80	7.43	1.91	2.89	5.11	6.19	34
Borrowings	2.98	5.18	4.17	13	21	34	39	38	40	30
Other Liabilities	32	16	33	23	24	22	19	24	26	24
Total Liabilities	38	24	45	47	56	68	71	77	82	101
Fixed Assets	1.33	1.25	1.56	2.36	12	14	22	23	22	20
CWIP	0.00	0.00	0.00	6.39	0.30	8.89	3.62	0.00	0.00	0.00
Investments	0.33	0.82	2.65	1.42	1.12	2.48	2.06	3.64	3.74	1.89
Other Assets	36	22	41	37	42	42	44	50	56	79
Total Assets	38	24	45	47	56	68	71	77	82	101

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	0.56	0.13	-2.45	-2.75	-2.85	1.96	1.39	5.85	2.71	-14
Cash from Investing Activity	-0.24	-0.54	-2.27	-6.61	-2.41	-10	-4.38	0.37	-0.57	-20
Cash from Financing Activity	-0.37	2.11	3.09	9.59	4.95	8.19	2.99	-6.20	-2.05	37
Net Cash Flow	-0.05	1.69	-1.62	0.22	-0.31	-0.05	0.00	0.02	0.09	3.00

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	May 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	61.23%	61.33%	61.33%	61.74%	59.11%	57.79%	46.89%	40.66%	34.53%	32.16%	32.16%	32.16%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	38.77%	38.67%	38.67%	38.26%	40.89%	42.21%	53.11%	59.34%	65.47%	67.84%	67.84%	67.84%
Total Shareholders	6,293	6,131	5,919	5,929	5,999	6,257	5,938	5,467	5,323	5,171	4,998	5,097

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Q3 FY26

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