Maintain Trents revenues were up 33% YoY to INR8.7b (in-line), led by strong performance of Westside stores that witnessed an impressive 22% YoY revenue growth and 10% SSSG, considering other retailers are facing the Post Ind-AS116, PAT was up 38% YoY to INR557m, while pre Ind-AS116 PAT was up 60% YoY to INR645m (7% beat). Thus, 3QFY20 SSSG stands at ~10%, witnessing strong traction in a weak Zudios revenues are estimated at 2.3x YoY to ~INR1.14b, now contributing 13% of the total standalone revenues (up from 5% in 3QFY19), led by fast Our SOTP-based TP of INR700 values Westside and Zara at 30x EV/EBITDA and Star at 2x EV/sales on FY22E.