Trident Texofab Ltd

Trident Texofab Ltd — Trading window closure (routine)

AGM & Notice

• 18th AGM scheduled for Sept 30, 2026 at 04:00 PM IST via VC/OAVM.
• Cut-off date for voting entitlement: Sept 23, 2026; remote e-voting Sept 27–29, 2026.
• Notice and Annual Report available on company site; NSDL e-voting for AGM.
• Scrutinizer for e-voting: CS Mehul Amareliya.
• AGM conducted via VC/OAVM per MCA/SEBI guidelines.

Financial performance FY26

• Revenue from operations ₹11,802.25 Lakhs in FY26, down from FY25 ₹12,205.62.
• Total income ₹11,986.35 Lakhs; decline versus ₹12,535.75 in FY25.
• EBITDA (excluding Other Income) ₹510.64 Lakhs; margin ~4.3%.
• Profit after tax ₹70.46 Lakhs; FY25 ₹251.01 Lakhs.
• Basic EPS ₹0.54; FY25 ₹2.38 per share.
• Finance costs reduced to ₹292.75 Lakhs from ₹454.98.
• Warrants convertible: 49,25,664 shares converted; 9,11,479 warrants cancelled.
• Dividend for FY26 not declared.

Manufacturing base & strategy

• Capacity ~250 lakh metres per year after three-phased expansion at Sachin facility.
• Manufacturing now dominates revenue mix; broader product range across fabrics and technical textiles.
• Capex through Waterjet, embroidery, digital printing; Rapier weaving; Hojiwala expansion.
• First half FY26 revenue up ~13%; second half down ~15% due to softer demand.
• Net block rose from ₹156.3 Lakh FY18 to ₹1,755.62 Lakh FY26; focus on utlisation and value-add.

Capital structure & liquidity

• Equity capital now ₹1,499.58 Lakhs after warrant conversions.
• Total assets ₹11,115.68 Lakhs; equity ₹5,558.23 Lakhs; debt ₹3,665.87 Lakhs.
• Short-term borrowings ₹2,045.55 Lakhs; long-term borrowings ₹1,314.58 Lakhs.
• Current ratio 2.24x; debt-equity 0.66x.
• Net cash from operations negative ₹963.63 Lakhs; financing cash flow ₹1,237.03 Lakhs.

Governance & board

• Board: six directors; three executive and three Independent.
• Audit Committee chaired by Ankita Saraiya; met five times in FY26.
• Nomination & Remuneration Committee comprises three independent directors; two meetings.
• Independent Directors met on 27 March 2026.
• Statutory auditors Shah Kailash & Associates LLP resigned on 10 Aug 2026.

Related party transactions

• RPTs with eight related parties; four at ₹25 Cr/yr and four at ₹5 Cr/yr.
• Audit Committee approved RPTs for FY2026-27; arm's length and in ordinary course.
• Loans/Investments with related parties disclosed; detailed terms in Annexures AOC-2.
• Prominent related parties include Trident Lifeline, Trident Mediquip, TLL Industries, TLL Labs, Tench Life, Talon, VN Capital, TLL Ventures.

Risks, controls & compliance

• Raw material/input cost volatility and demand risk are key exposure.
• Regulatory changes and supply-chain disruptions are monitored with controls.
• Whistle-blower policy in place; internal financial controls deemed adequate.
• Secretarial audit confirms compliance; no significant non-compliance reported.

AGM Details

• AGM scheduled Sept 30, 2026 at 4:00 PM via VC/OAVM.
• Board approved FY2026 Board Report with annexures.
• Draft Notice for AGM to be sent; 18th AGM convened.
• Register of Members and Share Transfer books closed Sept 24–30, 2026.
• E-voting cut-off and AGM voting date Sept 23, 2026.
• Scrutinizer appointed: CS Mehul Amareliya (FCS L2452; CP 24321).
• Reappointment of Manish Halwawala, retiring by rotation, subject to member approval.

Resolutions proposed

• Ordinary resolution: Re-appointment of director by rotation.
• Ordinary resolution: Appointment of Scrutinizer for e-voting.

Director Changes

• Recommendation to reappoint Manish Halwawala (DIN 08958684) subject to member approval.

Rating Action Details

• CRISIL withdraws all long-term ratings on Trident Texofab bank facilities.
• Total rated facilities amount to Rs 20 crore.
• Withdrawal followed Axis Bank's No Objection Certificate.
• Long-term rating was Crisil B/Stable; reaffirmed and withdrawn.
• Annexure 1 lists four facilities with withdrawn ratings.
• Axis Bank facilities include cash credit and term loans Withdrawn.
• Withdrawal confirmed by Crisil letter dated Sept 1, 2026.

Transaction summary

• Target: Trident Texofab Ltd; Acquirer: Hardik Desai Family Trust (Promoter Group); Open Market.
• Pre-Transaction voting shares: 10,19,691 (6.79%).
• Acquired: 5,000 and 15,000 voting shares; Open Market; 20.05.2020.
• Post-Transaction voting shares: 10,33,591 (6.89%).
• Equity share capital before/after: Rs 14,99,57,640.
• Date: 20.05.2020.

Key details

• Target Company: Trident Texofab Limited.
• Disclosing Party: Hardik Desai Family Trust (Promoter Group).
• Transaction Type: Acquisition of 39,425 voting rights via Open Market.
• Pre-Transaction Holding: 9,79,266 voting rights; 39,425 encumbered; 6.53% of diluted capital.
• Post-Transaction Holding: 1,018,691 voting rights; 6.79% of diluted capital.
• Date of Transaction: 17.08.2026.
• Capital context: Pre/post equity capital Rs 14,99,57,640; diluted post 1,49,95,764 shares.

Overview

• Target Company: Trident Texofab Ltd
• Disclosing Party: Hardik Desai Family Trust (Promoter Group)
• Transaction Type: Acquisition of voting shares
• Mode: Open Market
• Date(s): 01.08.2026 and 03.08.2026

Holding details

• Pre-Transaction holding: 940,109 voting shares (6.27%)
• Shares acquired: 39,158 voting shares (0.26% of diluted capital)
• Post-Transaction holding: 979,267 voting shares (16.53% diluted)

Capital context

• Equity share capital before: Rs 14,99,57,640 (1,49,95,764 shares)
• Equity share capital after: Rs 14,99,57,640 (1,49,95,764 shares)
• Total diluted share capital after: Rs 14,99,57,640