Shares of Trident Ltd jumped as much as 13% to a day high of Rs 25.19 on 3 November as profit nearly doubled and a big expansion was approved.

The textile maker reported an overall profit of Rs 175.5 crore for the September quarter, up 93% from Rs 90.9 crore a year earlier.

Sales slipped 3.8% to Rs 1,719.48 crore, but costs fell faster, down 10.2%.

Operating earnings rose to about Rs 314 crore from Rs 214 crore, lifting the margin to 18% from 12%. Yarn did the heavy lifting.

The yarn business earned Rs 191.19 crore in segment profit, against Rs 47.24 crore a year ago, while the towel segment slowed and its revenue fell to Rs 570.75 crore from Rs 723.46 crore.

Alongside the numbers, the board approved a Rs 4,650 crore plan to add capacity and modernise its plants.

The company will fund it through its own earnings and borrowing. The biggest slice, Rs 1,660 crore, goes to a new yarn plant at Dhar in Madhya Pradesh.

It is due by 30 September 2029, and the company has already secured 179.2 acres of leasehold land there for about Rs 106.09 crore.

Another Rs 1,022 crore will upgrade the Budhni yarn plant, adding 99,840 spindles and replacing older machines. Work should finish by 31 December 2027.

The sheeting business gets Rs 1,018 crore for 336 more looms by 31 January 2028. Paper gets Rs 296 crore to lift output by 28 tonnes a day by 31 March 2028.

The last Rs 654 crore backs a wind and solar project, due by 31 October 2028. It will add 60 MW of wind and 20 MW of solar power.

This follows the June quarter, when profit was Rs 158.09 crore. The September figure is 11.1% higher.

In May, the company also set an interim dividend of Rs 0.50 a share.

At 12:29 pm, it’s trading at Rs 24.08 on NSE, up 8.42% from the previous close of Rs 22.21. The stock has still lost 10.29% so far this year.

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