Tident incorporates subsidiary in Singapore | Capital Market News
Trident informed that it has incorporated overseas wholly owned subsidiary named, Trident Group Enterprises Pte. in Singapore.
The company has incorporated Trident Group Enterprises by subscription of 1,000 ordinary shares at face value of $1 aggregating to Rs $1,000. The new entity is engaged in textiles, treasury, investment, financing & other business activities.
The object of incorporation of arm is to diversify and expand the current business operations in global market, explore the future business opportunities and carry out treasury, investment & financing activities.
Trident is one of the largest towel manufacturers of the world, one of the world’s largest agrobased paper manufacturers and one of the largest yarn producers in India. Trident is a vertically integrated textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer.
The textile producers consolidated net profit declined 21.1% to Rs 73.73 crore in Q4 FY24 as against Rs 93.40 crore in Q1 FY24. Net sales rose 16.7% YoY to Rs 1,742.71 crore in June 2024 quarter.
Shares of Trident added 0.38% close at Rs 36.65 on Friday, 13 September 2024.
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First Published: Sep 14 2024 | 1:06 PM IST
