Trent Ltd. News and Updates

Name: Latest research reports of Trent Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: Trent Ltd.
Rating: 3
Author: Motilal Oswal

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Trent Ltd.

02 May 2021

4616.60

-1.48%

Healthy recovery, strong store adds to drive growth

Neutral: Trent Ltd.

Target

Motilal Oswal

TRENT posted a 7% YoY revenue increase (7% beat), supported by easing restrictions and improving customer traction over JanFeb'21. EBITDA grew 47% YoY on a lower base, aided by high gross margins. The gradual recovery seen after nine months of lockdown has once again been derailed due to the second COVID wave. Thus, we revise down our FY22E revenue/EBITDA estimate by 26%/44%, but largely maintain FY23 estimates factoring in recovery, coupled with the ongoing steady pace of...

Trent Ltd. has an average target of 6258.75 from 4 brokers.

Trent Ltd.

01 May 2021

4616.60

-1.48%

Trent Q4 net profit at Rs 17.44 crores; revenue at Rs 905.54 crores

Moneycontrol

Shares of Trent Ltd on Friday settled at Rs 777.15 on the BSE, up 0.11 per cent over the previous close.

Number of FII/FPI investors decreased from 1097 to 1053 in Jun 2025 qtr

Trent Ltd.

05 Feb 2021

4616.60

-1.48%

Result Update:Trent

Buy: Trent Ltd.

Axis Direct

We retain our SOTP based TP of Rs. 786. Maintain BUY.

Trent Ltd. has lost -16.49% in the last 1 Month

Trent Ltd.

04 Feb 2021

4616.60

-1.48%

Healthy margin recovery drives earnings

Neutral: Trent Ltd.

Target

Motilal Oswal

While revenue fell 17% YoY (in line), EBITDA saw a massive 26% beat on gross margin (GM) improvement of 570bp, benefiting from a provision write back of INR140m (190bp gain) and potential reduction in discounted sales. Adjusting for write-backs, EBITDA fell 4% YoY (16% beat). Its historic, industry-leading growth should resume in FY22 as aggressive store additions have already resumed. We have raised our FY22E EBITDA...

Trent Ltd. is trading below all available SMAs

Trent Ltd.

09 Nov 2020, 12:00AM

4616.60

-1.48%

Result Update:Trent

Buy: Trent Ltd.

Axis Direct

We believe Trent is best placed to bounce back post COVID-19 pandemic, driven by its success in Westside' concept (exclusive brands at competitive prices), ramp up of value fashion format Zudio', sustainable margins (led by superior store metrics

Trent Ltd. has an average target of 6258.75 from 4 brokers.

Trent Ltd.

06 Nov 2020

4616.60

-1.48%

Trent Ltd

Buy: Trent Ltd.

Target

ICICI Securities Limited

With the current unprecedented scenario various retailers have significantly curtailed their store expansion guidance for FY21E. However, Trent is among the few retailers who has reiterated their stance of aggressively adding stores. In H1FY21, it added 11 additional stores (eight Zudio, two Westside, one Landmark). We expect store addition momentum to accelerate in H2FY21E. On b/s front, better inventory management has led to working capital release of | 165 crore in H1FY21. Also, capex requirements were lower in H1FY21 (| 21.1 crore vs. | 81.0 crore). Negative...

Number of FII/FPI investors decreased from 1097 to 1053 in Jun 2025 qtr

Trent Ltd.

28 Sep 2020

4616.60

-1.48%

Initiating Coverage:Trent

Buy: Trent Ltd.

Axis Direct

We initiate coverage on Trent Ltd (Trent) with a BUY rating and a Target Price of Rs 786 based on SOTP valuation methodology.

Number of FII/FPI investors decreased from 1097 to 1053 in Jun 2025 qtr

Trent Ltd.

14 Aug 2020

4616.60

-1.48%

Trent: Q1FY21 Result Review

Sell: Trent Ltd.

Recommendation Target

IDBI Capital

Trent reported below than expected result after several quarters of positive surprise. Revenue decline is higher than expected due to regulatory restrictions on store openings. As per our channel check stores which were located inside malls (c. 70% of Trent store portfolio) were allowed to be operational from Aug'20. Negative operating leverage (40-44% of gross profit is consumed by employee and rental cost) severely impacted EBITDA and PAT. Positively, 90% of stores (both standalone and inside-malls) are now operational. As per management, overall business witnessed decent recovery during current month of end of season sale. We expect business recovery in 2HFY21E to...

Number of FII/FPI investors decreased from 1097 to 1053 in Jun 2025 qtr

Trent Ltd.

14 Aug 2020

4616.60

-1.48%

Trent Ltd

Buy: Trent Ltd.

Target

ICICI Securities Limited

As expected, Trent reported a washout Q1FY21. High store concentration in worst hit Coivd-19 states (~ 17%, 16% of Westside, Zudio stores in Maharashtra) and higher presence in malls (~50% for Westside, 25% for Zudio) further hampered store operations due to stringent measures by local authorities. Subsequently, the company reported revenue de-growth of 87% YoY to | 96.3 crore (April: 0%, May: 8%, June: 32% pre-Covid sales YoY). The company made provisions worth | 40 crore towards inventories that led gross margins to contract substantially to 13.3% vs. 53% in Q1FY20....

Trent Ltd. is trading below all available SMAs

Trent Ltd.

23 Jul 2020

4616.60

-1.48%

Be st-in-class apparel retailer

Neutral: Trent Ltd.

Recommendation Target

Motilal Oswal

23 July 2020 Trents consolidated revenue/PAT grew 33%/9.2% to INR34.9b/INR1.1b in FY20. Standalone revenue growth of 26% was led by strong performances from Westside (+16%) and Zudio its freshly established Value Fashion Retail brand (+2.5x, 16% contribution). The brands were supported by strong same-store sales growth (SSSG) and store adds. A) Indias Retail industry ranks among the top 5 retail markets globally (consumer category targeted by Westside). B) Value Fashion accounts for ~75% of the market (consumer category targeted by Zudio). These three factors underscore TRENTs growth levers. The company revealed that 70 stores had resumed operations on the easing of the COVID-19-led lockdown, but our channel check suggests >200 stores (~80%) are now operational. Auld who has led Trent for the last 10 years), and b) (formerly served as Chief Commercial Officer). Westside reported 16% YoY revenue growth in FY20, driven by a 15% rise in the no.

Trent Ltd. has an average target of 6258.75 from 4 brokers.

Is Trent Ltd. worth buying?

490 Votes:

Buy 70.61%

Sell 17.76%

Hold 11.63%

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