Trent Ltd. share price target

With a 10% upside potential from the CMP, we maintain our BUY rating on the stock.

Revenues grew by 16%; Demand trends to improve in medium term: Trent's revenues reported 16% YoY growth to Rs.5,259.5cr in Q3FY26 (18% YoY growth as of 9MFY26). During the quarter, the company continued to face impact of GST transition, supply chain issues and lower traction in value fashion space. Hence, LFL witnessed marginal decline in Q3 (grew by low single digit in 9MFY26). Improving demand trends in the value chain segment and resolution of supply chain issues are expected to gradually improve revenue growth over the medium term. In the long term, improved...

Trent’s revenue growth deceleration continued with 16% YoY growth in 3Q (vs. 39% YoY area addition), due to marginally negative LFL, reflecting the impact of the festive shift, subdued consumer sentiment, and lower initial productivity of newly added stores.

Trent Ltd is a leading Indian retail company that operates stores under the Westside, Zudio and Star Bazaar brands, specialising in apparel, footwear, accessories, toys, games and other lifestyle products....

concepts. Its primary customer propositions include Westside, one of India's leading chains of fashion retail stores, Zudio, a one stop destination for great fashion at great value and Trent Hypermarket, which operates in the competitive...

With a 10% upside potential from the CMP, we maintain our BUY rating on the stock.

Trent’s revenue growth continued to decelerate in 2QFY26 (+17% YoY), as ~43% YoY area addition growth was offset by sharp ~17% YoY decline in revenue per square foot, indicating store-level sales cannibalization.

Trent Ltd is a leading Indian retail company that operates stores under the Westside, Zudio and Star Bazaar brands, specialising in apparel, footwear, accessories, toys, games and other lifestyle products....

Trent’s Q1FY26 performance beat expectations led by higher EBITDA margin than expected, while SSSG moderated to low-single digits versus mid-single digits in Q4FY25.

With a 15% upside potential from the CMP, we maintain our BUY rating on the stock.

Trent reported revenue growth of 40% YoY, aided by footprint expansion (29%/40% YoY store/area additions) and double-digit LFL (SPSF up 4% YoY).

In its analyst meet, Trent’s management provided insights about the company’s strategies and key focus areas, which will help the company to deliver strong double-digit growth in the coming years.

Despite robust growth over the past few years (6.5x revenue growth over FY19-25), management indicated that Trent’s share in India’s fashion and lifestyle retail industry remains in low-single digits.

Considering the company's promising growth outlook, we recommend a BUY on the stock with a potential upside of 10% from the CMP.

Trent’s Q4FY25 performance beat expectations led by higher EBITDA margin than expected, while SSSG moderated to mid-single digits versus high-single digits in Q3FY25.

With a 24% upside potential from the CMP, we maintain our BUY rating on the stock.

With a 35% upside potential from the CMP, we maintain our BUY rating on the stock.

Trent Ltd (TRENT) delivered yet another robust quarter, albeit slightly weaker than our high expectations.

We recommend a BUY with a near term TP of Rs 6,050 implying an upside of 10 from the CMP