Trident Ltd has been consolidating in a range over the last 2 to 3 years while the Indian stock market is near its all-time high as of 20 June 2024. Currently, the stock is down by more than 45% from its all-time high and 25% from its 52-week high. As per the share price forecast Trident’s share price target for 2024, 2025, and 2026 can give a massive return.
Trading in a range for more than 2 years is painful for any investors mostly those who invested in the stock near its all-time high. A few analysts recommended a buy rating for the stock with good share price targets i.e. shared below.
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About Trident Ltd
Trident Ltd is an Indian company involved in various sectors like textiles, FMCG, chemicals, and energy. The company was founded in 1990 and the managing director of Trident Ltd company is Mr. Deepak Nanda.
Trident Ltd is majorly involved in textile manufacturing and exports business while in other businesses or sectors like FMCG, chemicals, energy, etc. there is less market share and products. Below are some information about each business of the company.
Textile Manufacturing and Exports
In the Textile business, the company has a lot of products like bedsheets, yarn, towels, etc. In the towel manufacturing, the Trident Ltd is one of the top 5 players in the world.
FMCG
In the business the company is not well popular however it is involved in the industry. Currently, there is no more information about the business and products of the company. In this category, they sell things like sugar-free chewing gum.
Chemicals
In the chemical business, Trident Ltd majorly focuses on producing sulphuric acid. There are a lot of uses of acid in day-to-day life products.
Energy
Trident Ltd is involved in energy production but only for self-use. Currently, they have the capacity of 50MW energy production.
Trident Ltd’s Scrip Info
| NSE | TRIDENT |
| BSE | 521064 |
| ISIN | INE064C01022 |
| SECTOR | TEXTILE MANUFACTURING AND EXPORT |
Company Analysis
Below you’ll find Trident Limited’s company information like financials, fundamentals, and shareholding patterns. This information plays an important role in identifying good companies for investing.
Note: The shared information is not enough for a complete analysis of any company or stock. Kindly cross-check this information with any screener or broker.
Note: All the values are in (₹) Rupees Crore.
| Quarter | Net Profit & Loss |
|---|---|
| Jun 2023 | ₹91 |
| Sep 2023 | ₹90 |
| Dec 2023 | ₹109 |
| Mar 2024 | ₹59 |
| Jun 2024 | ₹74 |
| Year | Net Profit & Loss |
|---|---|
| Mar 2020 | ₹340 |
| Mar 2021 | ₹304 |
| Mar 2022 | ₹834 |
| Mar 2023 | ₹442 |
| Mar 2024 | ₹350 |
Note: It is the company’s financial performance data, typically released every three months (quarterly) or once a year (annually).
| Market Cap | ₹19,334Cr | ROE | 8.10% |
| P/E Ratio (TTM) | 58.37 | EPS (TTM) | 0.65 |
| P/B Ratio | 4.48 | Div. Yield | 0.95% |
| Industry PE | 30.43 | Book Value | 8.47 |
| Debt to Equity | 0.49 | Face Value | 1 |
| Held By | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|---|
| FIIs | 2.56% | 2.55% | 2.65% | 2.63% |
| DIIs | 0.05% | 0.06% | 0.05% | 0.06% |
| Public | 22.95% | 22.96% | 22.85% | 22.87% |
| Promoters | 73.19% | 73.19% | 73.19% | 73.19% |
| Other Holders | 1.25% | 1.25% | 1.25% | 1.25% |
Key Insights
- Earnings are not increasing.
- Profit margins are not stable.
- No share pledge by promoters.
- Low Debt on Trident Ltd company.
- No strength in the recent quarterly results.
- The PE Ratio of the Trident Ltd stock is high (PE>40).
- Quarterly profits have also fallen over the last few quarters.
- The profit margin of Trident Ltd is above the industry median.
- FIIs decreased shareholding by 0.2% in the Jun 2024 quarter.
- Tridents Ltd is a profitable company and has been making profits consistently over the years.
- Promoter holdings are 73.19% which is good and no shareholding has been sold over the last few quarters by promoters.
- In the last 2 financial years, the net profit and revenue of Trident Ltd have fallen badly.
Quarterly Result – June 2024
Over the quarters FIIs are increasing their holdings in the Trident Ltd company. In the quarter, they have reduced the holdings by 0.2% which is negligible.
In the quarter, the sales, net profit, and profit before tax increased a lot. Trident Ltd made a sales of 1,743, its net profit is Rs. 74 Crore and the profit before tax is Rs. 102 Crore. It’s a huge improvement from the previous quarter.
Trident Share Price Target
Trident Ltd is a profitable company but for the last 2 years, the profits and revenue of the company have fallen badly. This is one of the major reasons behind the long Trident stock consolidation. Currently, there is no sign of improvements in the financials and it is affecting the Trident share price target for 2024, 2025, and 2026.
As of 22 August 2024, the stock is trading more than 25% down from its 52-week high. As of now, the stock is near a makeover level, which means the stock can go anywhere soon. Most probably it will go up as there are some bullish patterns.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2024 | ₹48 | ₹50 |
| 2025 | ₹60 | ₹70 |
| 2026 | ₹70 | ₹80 |
Disclaimer: AskDhan or we are not SEBI registered, and this is not a Buying or Selling recommendation. We will not be responsible for any loss or profit. This post is only for educational and learning purposes. All the targets given in the post are based on news, brokerage research, technical analysis, etc. We strongly recommend you talk to your financial advisor before making any decision.
Trident Share Price Target 2024
It looks like in the upcoming weeks the Trident stock can surge up to 7% to 10% from its current trading level. It is because the stock tried multiple times to break its resistance and soon it may successfully break it. It can be a good opportunity for the short-term traders.
You can plan a trade when the stock crosses Rs. 42 resistance with a stop loss of Rs. 33. Here the stop loss is important as the stock is very volatile and it may also fall. The Trident share price target can touch Rs. 48 to Rs. 50 in 2024.
From the broker’s side, there is no rating given about the stock yet. This is because brokers avoid stocks that are not performing well over a certain period.
Trident Share Price Target 2025 and 2026
It is hard to give Trident a share price target for 2025, 2026, etc because the profits and revenue of the company are falling from the last 2 years. In the recent quarterly results, the company’s earnings are not improving. As a result, it is difficult to predict any target for the long term.
Trident Ltd is one of the major players in the textile sector and some of its products like towels are widely used. As per some sources, the towel manufacturing and exporting the Trident Ltd is ranked in the top 5 companies globally.
So, as per the business model and products, there is no major problem in the company. The profits may be affected because of the geo-political issues all over the world.
If the earnings of the company improve in the upcoming quarters the stock price can surge up like a rocket. It is a common case with most stocks that when the stock breaks its consolidation range, it moves up very fast. If the conditions become good i.e. quarterly results improve then we can see the stock touching Rs. 70 to Rs. 80 in the future.
Trident Ltd’s Forecast and Ratings
If you check analyst ratings, you’ll notice that only 1 analyst is given a buy target. We recommend you ignore the rating for now until more analysts have started rating.
As of now, no brokers have given any short-term or long-term target for the Trident Ltd stock.
FAQs
Trident Ltd stock is not going up because of the decreasing earnings from the last 2 years. In the last 2 years, the profits of the company are approx down by 50% which is a huge number.
In the recent quarters, the earnings have also not improved that’s why its stock has also not performed from the last 2 years.
In 2020 to 2021 Trident stock gave good returns to its investors as in the period the company made a good profit.
In the fundamentals of Trident Ltd, there is no problem as it is a profitable company, with a good presence in the textile business, and more.
There is an impact on the company sales and earnings for the short term, once the company starts performing as expected then we can see a good move in its stock.
For the short term or a few weeks, there can be a trade in the stock. Currently, the stock is showing some bullish signs and it is expected that the stock can reach Rs. 48 to Rs. 50.
It can be a risky trade so you should keep a stop loss at any major support.
Final Words
In the past years, the Trident Ltd stock has given multi-bagger returns. From January 2022, the stock started falling badly as the earnings of the company started falling. After these things, the stock is trading below more than 45% from its all-time high. Want to know more? check the prediction of Trident’s share price target for 2024, 2025, and 2026.