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Trident Ltd. reported a strong performance on the back of demand revival in the home textiles and paper segments.
The demand trend in home textiles is expected to continue in the upcoming quarters as well, led by order book visibility for the next six months.
However, demand revival in the paper segment has been impacted by the second Covid-19 wave.
Recovery is expected in the coming quarters as offices and educational institutions start to open up.
Although the performance was below our estimates, we maintain our earnings estimates for FY22/FY23 on an improving demand outlook.
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