Trident Limited FY 2024-25 Audit and Financial Results – Key Vocabulary

40 vocabulary flashcards covering major auditing, accounting, and financial-reporting terms mentioned in the Trident Limited FY 2024-25 lecture notes.

Independent Auditor's Report

A formal opinion issued by external auditors stating whether a company’s financial results present a true and fair view according to applicable standards.

Standalone Financial Results

Financial statements that present only the performance and position of the parent company, without consolidating subsidiaries.

Consolidated Financial Results

Statements that combine the parent company and all subsidiaries into one set of accounts, reflecting the Group’s overall performance.

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Indian stock-exchange rules governing listed entities’ disclosure and reporting duties.

Regulation 33

SEBI clause requiring quarterly and annual submission of audited or reviewed financial results.

Standards on Auditing (SAs)

Authoritative pronouncements issued by the Institute of Chartered Accountants of India prescribing how audits must be conducted.

Going Concern Basis

Accounting assumption that an entity will continue operating for the foreseeable future.

Material Misstatement

An error or fraud large enough to influence users’ economic decisions based on the financial statements.

Emphasis of Matter

Paragraph in an audit report drawing attention to an issue that is appropriately disclosed but fundamental to users’ understanding.

Employee Welfare Trust

A trust formed to hold and allocate a company’s shares or benefits for employees, e.g., Trident Limited Employee Welfare Trust.

Unmodified Opinion

Auditor’s conclusion that the financial statements give a true and fair view without reservations.

Internal Financial Controls

Processes designed to ensure reliable financial reporting and protection of assets; auditors comment on their adequacy and effectiveness.

Segment Revenue

Sales generated by each distinct business segment (e.g., Yarn, Towel, Bedsheets, Paper & Chemicals).

Exceptional Item

Income or expense arising from events outside normal operations, disclosed separately—for Trident, sale of a subsidiary stake.

Deferred Tax

Tax effect arising from timing differences between accounting profit and taxable profit, recorded as an asset or liability.

Section 132 Search

Income-tax department raid to uncover undisclosed income; highlighted as an Emphasis of Matter.

Non-Controlling Interest

Equity in a subsidiary not attributable to the parent company’s shareholders.

Cash Flow Statement

Report showing inflows and outflows of cash from operating, investing and financing activities.

Capital Work in Progress (CWIP)

Expenditure on assets still under construction and not yet ready for use.

Inter-segment Revenue

Sales between different business segments of the same company, eliminated for consolidated totals.

Other Comprehensive Income (OCI)

Items of income and expense not included in profit or loss, such as remeasurement of defined-benefit plans and cash-flow hedge reserves.

Credit Rating (AA; Stable)

External assessment of creditworthiness; AA indicates very low credit risk with a stable outlook.

Interim Dividend

Dividend declared and paid before the financial year-end (e.g., 36 % and later 50 % per share by Trident).

Interest Subsidy Income

Government incentive that reduces finance costs; Trident accrued ₹367 million after sanction of expansion subsidies.

Qualified Borrowings

Long-term borrowings (original maturity > 1 year) considered for SEBI large-corporate disclosure, excluding ECBs, inter-company loans, etc.

Treasury Shares

Company’s own shares held by its trust; profits on their sale are recorded in other equity and shares excluded from EPS calculation.

Earnings per Share (EPS)

Net profit attributable to equity holders divided by weighted average number of outstanding shares, shown basic and diluted.

Foreign Exchange Gain/Loss (Including MTM)

Profit or loss from currency movements, including mark-to-market valuation of open positions.

Right-of-Use Asset

Asset recognised under Ind AS 116 for the lessee’s right to use leased property over the lease term.

Lease Liability

Present value of lease payments a lessee is obliged to make, recorded under Ind AS 116.

External Commercial Borrowings (ECBs)

Loans raised from non-resident lenders; excluded from ‘qualified borrowings’ for SEBI disclosure.

Section 248(2) Strike-off

Voluntary removal of a company’s name from the register of companies, ending its legal existence.

Share-Based Payment Expense

Cost recognised for employee benefits settled in the company’s equity instruments.

Net Profit After Tax (NPAT)

Profit remaining after deducting all expenses and taxes from total income.

Net Cash Flow from Operating Activities

Cash generated from core business operations after working-capital changes and tax payments.

Auditors' Responsibilities

Duties to obtain reasonable assurance, assess risks, evaluate controls, and report whether statements are free of material misstatement.

Board of Directors' Responsibilities

Obligations to prepare fair financial statements, maintain controls, assess going concern, and oversee reporting.

Segment Assets and Liabilities

Assets and liabilities that are directly attributable to individual business segments or can be reasonably allocated to them.

Interest Expense on Financial Liabilities at Amortised Cost

Cost recognised on borrowings measured under the effective-interest method.

UDIN (Unique Document Identification Number)

ICAI-mandated number generated by auditors to authenticate reports and prevent forgery.