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Trident Texofab Ltd (540726)

📊 BSE: 540726 🏢 Other Textile Products 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Trident Texofab's revenue was ₹26.1 Cr (-6.9% year on year, -22.1% on the previous quarter), and net profit ₹0.5 Cr (-48.8% year on year); the operating margin was 5.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹26.1	-6.9%	-22.1%
Operating profit	₹1.4	-31.0%	from loss
Net profit	₹0.5	-48.8%	from loss
EPS (₹)	0.35	-48.5%	from loss
Operating margin	5.5%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Trident Texofab Calls Oct 28 EGM to Approve New Statutory Auditor Following Resignation

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Oct 2026, 02:21 PM

Trident Texofab Limited has convened an Extra-Ordinary General Meeting (EGM) on October 28, 2026, via video conferencing. The sole business item is seeking shareholder approval to appoint M/s. A Bafna & Associates as Statutory Auditors for FY 2026-27. This appointment fills a casual vacancy created by the resignation of M/s. Shah Kailash & Associates LLP. The remote e-voting period runs from October 25 to October 27, 2026, with a cut-off date of October 21, 2026.

EGM scheduled for October 28, 2026, at 04:00 PM IST via video conferencing
Approval sought for appointment of M/s. A Bafna & Associates as Statutory Auditor for FY 2026-27
Casual vacancy caused by the resignation of M/s. Shah Kailash & Associates LLP
Remote e-voting window active from October 25, 2026 (09:00 AM) to October 27, 2026 (05:00 PM)
Cut-off date for e-voting entitlement established as October 21, 2026

💡 Eligible shareholders may cast their votes during October 25–27, 2026; track the voting results post-meeting to confirm the auditor appointment.

Trident Texofab Appoints M/s A Bafna & Associates as Statutory Auditor to Fill Casual Vacancy

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Oct 2026, 03:56 PM

Trident Texofab has appointed M/s. A Bafna & Associates, Chartered Accountants, as its new Statutory Auditor to fill a casual vacancy, effective October 3, 2026. The auditor will hold office until the conclusion of the company's ensuing Annual General Meeting. To approve this appointment and related matters, the Board has convened an Extraordinary General Meeting (EGM) on October 28, 2026, via video conferencing. The cut-off date for shareholder e-voting is set for October 21, 2026.

Appointment of M/s. A Bafna & Associates, Chartered Accountants, to fill casual vacancy on October 3, 2026
Auditor to hold office until the ensuing Annual General Meeting
Extraordinary General Meeting (EGM) scheduled for October 28, 2026
E-voting cut-off date set as October 21, 2026; e-voting active from October 25 to October 27, 2026

💡 Track the outcome of shareholder voting at the EGM on October 28, 2026, and look for the detailed reasons for the preceding auditor's exit in the full EGM notice.

Trident Texofab Appoints M/s A Bafna & Associates as Statutory Auditor to Fill Casual Vacancy

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Oct 2026, 03:51 PM

Appointment of M/s. A Bafna & Associates, Chartered Accountants, to fill casual vacancy on October 3, 2026
Auditor to hold office until the ensuing Annual General Meeting
Extraordinary General Meeting (EGM) scheduled for October 28, 2026
E-voting cut-off date set as October 21, 2026; e-voting active from October 25 to October 27, 2026

💡 Track the outcome of shareholder voting at the EGM on October 28, 2026, and look for the detailed reasons for the preceding auditor's exit in the full EGM notice.

Trident Texofab Appoints M/s A Bafna & Associates as Statutory Auditor to Fill Casual Vacancy

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Oct 2026, 03:49 PM

Appointment of M/s. A Bafna & Associates, Chartered Accountants, to fill casual vacancy on October 3, 2026
Auditor to hold office until the ensuing Annual General Meeting
Extraordinary General Meeting (EGM) scheduled for October 28, 2026
E-voting cut-off date set as October 21, 2026; e-voting active from October 25 to October 27, 2026

💡 Track the outcome of shareholder voting at the EGM on October 28, 2026, and look for the detailed reasons for the preceding auditor's exit in the full EGM notice.

Promoter Trust Acquires 5,412 Shares of Trident Texofab via Open Market

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Sep 2026, 09:45 AM

Hardik Desai Family Trust, part of the promoter group of Trident Texofab Ltd, acquired 5,412 equity shares (0.04% stake) via an open market purchase on September 21, 2026. Following this transaction, the trust's holding marginally increased from 10,42,334 shares (6.95%) to 10,47,746 shares (6.99%). At the prevailing market price of Rs 21.9, the total transaction value stands at approximately Rs 1.18 lakh. The overall company equity base remains unchanged at 1,49,95,764 shares.

Hardik Desai Family Trust acquired 5,412 equity shares (0.04% of total capital) via open market
Pre-acquisition holding stood at 10,42,334 shares (6.95%)
Post-acquisition holding increased to 10,47,746 shares (6.99%)
Transaction took place on September 21, 2026
Total diluted share capital stands at 1,49,95,764 equity shares of Rs 10 each

💡 Monitor quarterly shareholding pattern updates to see if promoter group buying continues over time, alongside upcoming financial results.

Promoter Entity Hardik Desai Family Trust Acquires 8,643 Shares (0.06%) in Open Market

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 05:19 PM

Trident Texofab Ltd disclosed that promoter group entity Hardik Desai Family Trust acquired 8,643 equity shares (0.06% stake) via open market purchases on August 24, 2026. Following the acquisition, the trust's holding increased from 10,33,691 shares (6.89%) to 10,42,334 shares (6.95%). The total paid-up equity share capital stands at 1,49,95,764 shares of Rs 10 each (Rs 14.99 crore). Given the small transaction size (~Rs 2.07 lakh at current prices), the operational impact is negligible.

Hardik Desai Family Trust (Promoter Group) bought 8,643 equity shares (0.06% of total equity) on 24.08.2026
Pre-acquisition holding was 10,33,691 shares (6.89%)
Post-acquisition holding increased to 10,42,334 shares (6.95%)
Acquisition was executed via open market purchases
Total voting capital remains at 1,49,95,764 equity shares of Rs 10 each

💡 Monitor regular quarterly shareholding pattern filings to track broader promoter group accumulation trends and overall business turnaround metrics.

Promoter Group Trust Buys 15,000 Shares (0.10%) in Trident Texofab via Open Market

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Aug 2026, 10:08 AM

Hardik Desai Family Trust, part of the promoter group of Trident Texofab Ltd, acquired 15,000 equity shares (0.10% stake) via an open market purchase on August 20, 2026. Following this transaction, the trust's holding increased from 10,18,691 shares (6.79%) to 10,33,691 shares (6.89%). The total voting capital of the company stands at 1,49,95,764 equity shares of Rs 10 each.

Acquired 15,000 equity shares (0.10% voting capital) on August 20, 2026 via open market
Pre-transaction holding was 10,18,691 shares (6.79%)
Post-transaction holding increased to 10,33,691 shares (6.89%)
Total diluted share/voting capital remains unchanged at 1,49,95,764 shares (Rs 14.99 cr)

💡 Monitor upcoming quarterly shareholding patterns to assess whether promoters continue cumulative open-market purchases.

Promoter Group Acquires 39,425 Shares (0.26%) in Trident Texofab via Open Market

🟢 POSITIVE ⭐ 3/10

ROUTINE 📅 20 Aug 2026, 03:43 PM

Hardik Desai Family Trust, belonging to the promoter group of Trident Texofab Limited, acquired 39,425 equity shares (0.26% stake) via an open market purchase on August 17, 2026. Following this transaction, the trust's shareholding increased from 9,79,266 shares (6.53%) to 10,18,691 shares (6.79%). The total voting capital of the company remains unchanged at 1,49,95,764 equity shares (Rs 14.99 crore).

Acquisition of 39,425 equity shares representing 0.26% of total equity share capital
Pre-transaction holding stood at 9,79,266 shares (6.53%)
Post-transaction holding increased to 10,18,691 shares (6.79%)
Transaction conducted via open market on August 17, 2026

💡 Track overall promoter group holding trends in subsequent quarterly shareholding patterns to assess ongoing insider accumulation.

Promoter Group Entity Acquires 39,158 Shares (0.26%) of Trident Texofab via Open Market

🟢 POSITIVE ⭐ 3/10

ROUTINE 📅 14 Aug 2026, 05:51 PM

Hardik Desai Family Trust, part of the promoter group of Trident Texofab Ltd, acquired 39,158 equity shares (0.26% stake) via the open market on August 13, 2026. Following this purchase, the trust's holding increased from 9,40,109 shares (6.27%) to 9,79,267 shares (6.53%). The transaction is valued at approximately Rs 0.09 crore based on the current market price of Rs 22.9. The total paid-up share capital of the company remains unchanged at 1,49,95,764 equity shares (Rs 14.99 crore).

Promoter group entity acquired 39,158 equity shares (0.26% of total voting capital) on August 13, 2026
Holding of Hardik Desai Family Trust rose from 9,40,109 shares (6.27%) to 9,79,267 shares (6.53%)
Acquisition conducted via open market transaction
Total diluted equity capital stands at 1,49,95,764 shares of Rs 10 each (Rs 14.99 crore)

💡 Track future insider trading filings and quarterly shareholding patterns to assess whether promoters continue to incrementally accumulate shares from the open market.

Trident Texofab: Statutory Auditor Resigns; Q1 Net Profit Drops 49% to ₹0.52 Cr

🔴 NEGATIVE ⭐ 7/10

MANAGEMENT 📅 10 Aug 2026, 08:37 PM

Trident Texofab (Market Cap: ₹34 Cr) announced the resignation of its statutory auditor, M/s. Shah Kailash and Associates LLP, effective August 10, 2026, citing professional workload. This coincides with weak Q1 FY27 results, where revenue fell 6.9% YoY to ₹26.14 Cr and PAT dropped 49% to ₹0.52 Cr. Additionally, the company forfeited 25% of the application money for 8,11,479 warrants as the conversion period expired on June 22, 2026. The company's debt of ₹37 Cr now exceeds its total market capitalization, highlighting significant financial stress.

Statutory Auditor M/s. Shah Kailash and Associates LLP resigned effective August 10, 2026.
Q1 FY27 Net Profit declined 49% to ₹0.52 Cr compared to ₹1.02 Cr in Q1 FY26.
Revenue from operations for Q1 FY27 stood at ₹26.14 Cr, down from ₹28.08 Cr YoY.
Forfeiture of 25% deposit on 8,11,479 warrants due to non-conversion by June 22, 2026.
Debt of ₹37 Cr is currently 1.09x the company's total Market Capitalization of ₹34 Cr.

💡 Investors should monitor the appointment of the new statutory auditor and scrutinize the upcoming full audit report for any qualifications, given the mid-year resignation and declining profitability.

Trident Texofab Q1 PAT Drops 49% to ₹0.52 Cr; Statutory Auditor Resigns

🔵 WATCH ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 08:34 PM

Trident Texofab reported a weak Q1 FY27 with revenue declining 6.9% YoY to ₹26.14 Cr and net profit nearly halving to ₹0.52 Cr. A major governance update involves the resignation of the Statutory Auditor, M/s. Shah Kailash and Associates LLP, effective August 10, 2026, citing workload. Furthermore, the company forfeited the 25% upfront payment on 8,11,479 warrants as the 18-month conversion period expired on June 22, 2026, without exercise. The board has appointed M/s. Prit Agrawal & Co. as the new Internal Auditor for FY 2026-27.

Q1 FY27 Revenue stood at ₹26.14 Cr, down from ₹28.08 Cr in Q1 FY26.
Net Profit for the quarter fell to ₹0.52 Cr, a 49% decrease from ₹1.02 Cr in the previous year's corresponding quarter.
Statutory Auditor resigned on August 10, 2026, citing 'increasing professional commitments'.
Forfeiture of 25% application money on 8,11,479 warrants following the expiry of the 18-month conversion window on June 22, 2026.
Appointment of M/s. Prit Agrawal & Co. as Internal Auditor for the financial year 2026-27.

💡 Investors should monitor the appointment of the new Statutory Auditor and the management's commentary on declining quarterly margins. The warrant forfeiture suggests a lack of investor appetite for equity conversion at current price levels.

Trident Texofab Q1 PAT at ₹0.52 Cr; Statutory Auditor Resigns Citing Workload

🔵 WATCH ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 08:30 PM

Trident Texofab reported a net profit of ₹0.52 Cr for Q1 FY27, marking a turnaround from a ₹2.01 Cr loss in the previous quarter, though revenue declined 22.1% QoQ to ₹26.14 Cr. On a YoY basis, performance was weaker with revenue down 6.9% and PAT down 49% from ₹1.02 Cr. A critical development is the resignation of the Statutory Auditor, M/s. Shah Kailash and Associates LLP, effective August 10, 2026. Furthermore, the company forfeited the 25% upfront payment on 8.11 lakh warrants as the 18-month conversion period expired without exercise.

Revenue from operations fell to ₹26.14 Cr, a 22.1% decline from ₹33.57 Cr in the March 2026 quarter.
Net profit stood at ₹0.52 Cr, down 48.6% compared to ₹1.02 Cr in the same quarter last year (June 2025).
Statutory Auditor resigned effective August 10, 2026, citing increasing professional commitments and workload.
Forfeited 25% of the amount received against 8,11,479 warrants as the conversion deadline expired on June 22, 2026.
Total expenses reduced significantly to ₹25.64 Cr from ₹35.41 Cr in the preceding quarter, aiding the return to profitability.

💡 Investors should closely monitor the appointment of the new Statutory Auditor and seek clarity on why the warrants were not converted, which may reflect low investor confidence at current price levels.

Trident Texofab Q1 Net Profit at ₹0.52 Cr; Statutory Auditor Resigns

🔴 NEGATIVE ⭐ 7/10

BOARD_MEETING 📅 10 Aug 2026, 08:25 PM

Trident Texofab reported a weak Q1 FY27 with revenue of ₹26.14 cr, down 22% QoQ and 7% YoY. While the company returned to a net profit of ₹0.52 cr from a loss of ₹2.01 cr in the previous quarter, profit is down 49% compared to the same period last year. A significant concern is the resignation of the Statutory Auditor, M/s. Shah Kailash and Associates LLP, effective August 10, 2026. Furthermore, the company forfeited 25% of the application money on 9.11 lakh warrants as they were not converted within the 18-month window.

Revenue from operations declined to ₹26.14 cr in Q1 FY27 from ₹28.08 cr in Q1 FY26.
Net profit stood at ₹0.52 cr, a recovery from the ₹2.01 cr loss in Q4 FY26 but a 48.6% drop YoY.
Statutory Auditor resigned on Aug 10, 2026, citing 'increasing professional commitments' and workload.
Forfeiture of 25% amount received against 9,11,479 warrants as the 18-month conversion period expired on June 22, 2026.
Total expenses for the quarter were ₹25.61 cr, with finance costs at ₹0.55 cr.

💡 Investors should closely monitor the appointment of the new statutory auditor and check for any detailed disclosures regarding the resignation. The revenue decline and warrant forfeiture suggest a challenging environment for this micro-cap company.

Board Meeting on August 10, 2026, to Approve Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 04 Aug 2026, 07:00 PM

Trident Texofab Ltd has scheduled a board meeting for August 10, 2026, to approve its un-audited standalone financial results for the quarter ended June 30, 2026. This announcement follows a difficult March 2026 quarter where the company reported a net loss of ₹2.01 crore on revenue of ₹33.57 crore. With a small market cap of ₹39 crore and a significant 12-month price decline of 88.1%, these results are critical for assessing the company's recovery. The trading window for insiders has been closed since July 1, 2026, as per regulatory requirements.

Board meeting scheduled for August 10, 2026, to approve Q1 FY27 results.
Trading window closed from July 1, 2026, until 48 hours after the results are public.
Company reported a net loss of ₹2.01 crore in the preceding quarter (March 2026).
TTM revenue stands at ₹118 crore against a market capitalization of only ₹39 crore.

💡 Watch for the earnings release on August 10 to see if the company returns to profitability after the ₹2.01 crore loss in the previous quarter and if operating margins improve from the -1.08% seen in March 2026.

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💰 Financial Performance

Revenue Growth by Segment

Manufacturing revenue grew to INR 77.63 Cr in FY25 (63.6% of total), while Trading revenue was INR 44.43 Cr (36.4% of total). In Q2FY26, Manufacturing contributed 62.4% and Trading 34.6% of sales. Manufacturing is driving incremental growth and margin improvement.

Geographic Revenue Split

Not disclosed in available documents; however, the company is based in Surat, Gujarat, which is its primary hub.

Profitability Margins

EBITDA margin was 4.48% in FY25 (down from 6.19% in FY24). Net profit margin was 2.06% in FY25 (up from 1.09% in FY24). Q2FY26 EBITDA margin improved significantly to 8.12%.

EBITDA Margin

EBITDA margin was 8.12% in Q2FY26, a significant improvement of 916 BPS YoY from -1.04% in Q2FY25. FY25 EBITDA was INR 5.47 Cr (4.48% margin).

Capital Expenditure

Netblock stood at INR 17.61 Cr in FY25. The company executed its 3rd Phase of CAPEX in June 2021 for capacity augmentation of the Waterjet Unit.

Credit Rating & Borrowing

Reaffirmed at 'CRISIL B+/Stable' in April 2025. Interest cost was INR 4.55 Cr in FY25 on a total income of INR 125.36 Cr.

⚙️ Operational Drivers

Raw Materials

Polyester and poly-blend fabrics (grey fabrics) are the primary raw materials. While specific cost percentages per material are not disclosed, total operating expenses were INR 116.58 Cr in FY25, representing 95.5% of revenue.

Capacity Expansion

Current annual manufacturing capacity is ~250 Lakh Meters. Specific units include a Waterjet Unit (20-22 lakh meters/month), Embroidery Unit (37 lakh stitches/day), and Digital Printing Unit (7,200 meters/day). No new planned expansion was detailed beyond the completed 3rd phase.

Raw Material Costs

Raw material costs are a major component of the INR 116.58 Cr total operating expenses in FY25. Procurement strategies focus on sourcing grey fabrics for value-added processing.

Manufacturing Efficiency

The shift to manufacturing has improved EBITDA margins from -1.04% in Q2FY25 to 8.12% in Q2FY26, reflecting higher operational efficiency.

📈 Strategic Growth

Expected Growth Rate

16-23%

Growth Strategy

The company aims to achieve growth by continuing its 'Shifting Gears' strategy, focusing on high-margin manufacturing operations over trading. It plans to leverage its augmented capacity (20-22 lakh meters/month in Waterjet unit) and recent capital infusion to pursue future growth opportunities and improve profitability margins.

Products & Services

Grey fabrics, embroidered fabrics, digital printed fabrics, bed sheets, curtains, cushion covers, scarfs, pareos, suiting, shirting, technical textile fabrics

Brand Portfolio

Trident Texofab

New Products/Services

The company has introduced technical textiles and value-added products in embroidery and digital printing. Specific revenue contribution percentages for new launches were not disclosed.

🌍 External Factors

Industry Trends

The textile industry is seeing a shift towards semi-composite manufacturing. The company grew revenue by 22.69% in FY25, positioning itself to capture higher margins by moving away from pure trading (which dropped from 100% in FY18 to 34.6% in Q2FY26).

Competitive Landscape

The company faces intense competition from numerous organized and unorganized players in the textile hub of Surat, Gujarat.

Competitive Moat

The company's moat lies in its transition to a semi-composite manufacturing model, which has improved EBITDA margins from -1.04% to 8.12% in Q2FY26. This is supported by the extensive experience of the promoters in the Surat textile market.

⚖️ Regulatory & Governance

Industry Regulations

The company is subject to textile industry regulations, pollution norms, and government tax regimes, though specific impact values were not disclosed.

Taxation Policy Impact

Effective tax rate was approximately 2.5% in FY25 (PBT of INR 2.58 Cr vs PAT of INR 2.51 Cr).

⚠️ Risk Analysis

Key Uncertainties

Key risks include raw material price volatility (polyester) and high working capital intensity with bank limit utilization at 97.9%.

Geographic Concentration Risk

Operations are primarily concentrated in Surat, Gujarat. Regional revenue split percentages were not disclosed.

Technology Obsolescence Risk

The company utilizes Waterjet, Rapier, and Digital Printing technologies. Risk involves the need for continuous technology absorption to maintain manufacturing efficiency.