Trident Q2 Review - Pent-Up Demand Drives Growth: Motilal Oswal
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Motilal Oswal Report
Trident Ltd. reported a strong performance in the home textiles and paper segment, driven by robust demand after the lifting of Covid-related lockdown restrictions.
The demand trend in home textiles is expected to continue, with freight costs gradually subsiding and pent-up demand in the U.S. and Europe market. Trident's paper segment is expected to see a sharp recovery with the opening of offices and educational institutes.
We maintain our FY22 earnings estimate, factoring in the growth opportunity with normalisation of business operations, coupled with an improving demand outlook.
We increase our FY23E/FY24E earnings estimate by 11%/22%. We maintain our 'Buy' rating.
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