Trident Ltd - (TRIDENT)

Trident Ltd (Formerly Know as Abhishek Industries Ltd.(ABIL)), a flagship company of Trident Group was promoted by Rajinder Gupta. With the establishment of the state-of-the-art manufacturing processes and systems coupled with appropriate human capital and credentials, Trident has frequently received accolades from its patrons in recognition for delivering high quality standards and for its custom. With a modest beginning of 17,280 spindles of yarns, at present the company has separate divisions as Yarn Division (YD), Paper and Chemical Division (PCD) and Terry Towel Division (TTD). The company, the worlds largest exporter of Terry Towels is the largest exporter to USA. Wall Mart is one of the companys prestigious client. The company is also the largest Manufacturer of Wheat Straw based paper.Trident Ltd has a wholly Owned Subsidiary in India, Trident Group Ltd.The companys Yarn plant which produces both cotton and acrylic yarn is located at Sanghera, Punjab. This unit was financed by the public issue in Oct. 1992. Its products are used in hosiery products, textiles, fabrics, etc. The company has an agreement with Sagatex International, UK, for marketing and exporting its cotton production upto 50%.The companys Second Unit i.e Unit II has an installed capacity of 43392 Spindles for manufacture of dyed cotton, melange, acrylic and blended yarn besides carded and combed cotton yarn. The Unit II project which has been divided into parts the first phase of 36288 Spindles has started commercial production from 1st July, 1999. The cost of project amounts to Rs 95 crores which was financed by term loans, rights issue and internal accruals.During 1999-2000, the company got the status of Government Recognised Trading House and the quality of the products was well accepted in the international market. During 2002, Varinder Agro was merged with company. The shareholders of Varinder Agro were allotted 70 equity shares in Abhishek Industries for every 24 shares held.During the year 2003, ABIL expanded all its core business with an additional outlay of about Rs 9120 million.It was in the advanced stage of implementation of a Rs 3000 million expansion in Textiles, which will be operational bt July 2004. A capacity of 100 million pieces per annum and a corresponding modernisation and expansion of spinning operation, the unit will among the top 5 manufacturers in the world. Also the company has undertaken expansion in Pulp & Paper, Chemical Recovery & Co-generation at a capital outlay of Rs 6120 million, which will be fully operational by early 2006.During the year 2014 year, the Honble High Court for the states of Punjab and Haryana at Chandigarh approved the Scheme of Amalgamation of Trident Corporation Limited with the Company vide its Order dated March 14, 2014. Accordingly, the Scheme has been implemented and Trident Corporation Limited has been amalgamated with the Company w.e.f. April 1, 2014, the Appointed Date. Further, the worlds largest integrated terry towel unit located at Budni in Madhya Pradesh, as vested in the Company from the erstwhile Trident Corporation Limited in terms of the above referred Scheme of Amalgamation, was commissioned during the year under review. The project with an installed capacity of 300 looms has been implemented within the sanctioned capital outlay of H11,910 million.During the year 2015, the Company is also undertaking the implementation of a composite textile project in the Home Textiles Segment consisting of Bed Sheeting Unit with a capacity of 500 Looms and integrated spinning unit of 189696 spindles to manufacture high end count from 40 to 80 Ne. The above projects are being implemented at an estimated total project cost of Rs 16,669.0 million and are expected to be completed by Second half of Financial year 2016. Being an integrated project, the production from the spinning segment would seamlessly flow into the sheeting segment, adding value in the textile chain and making Company a onestop- shop for home textiles Products.Further, the worlds largest integrated terry towel unit located at Budni in Madhya Pradesh, as vested in the Company from the erstwhile Trident Corporation Limited in terms of the above referred Scheme of Amalgamation, was commissioned during the year under review. The project with an installed capacity of 300 looms has been implemented within the sanctioned capital outlay of H11,910 million.Other projects being undertaken by the Company at Budni in Madhya Pradesh include an open-end yarn project by installation of 1,920 rotors at a capital outlay of H600 million, which is scheduled for completion in July, 2014. The Company is also setting-up Captive Power Project of 60 MW entailing a capex of H3,930 million. The expected date of the completion of the said power project is March, 2015. The said projects are being part financed from term loans, Promoters contribution and internal cash xaccruals.