1. India Stocks

  2. •

    Consumer Cyclical

  3. •

    Apparel - Retail
Trent Limited

Trent Limited

TRENT.NS
Trent LimitedIN flagNational Stock Exchange of India
2,924.00
INR
-3.80
- -
1.56TMarket Cap
Trent Limited
TRENT.NS
(National Stock Exchange of India)

Recent

price

2,924.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
50.23
48.7
40.87
40.21
32.05
31.29
35.72
42.6
51.87
66.03
47.76
82.84
152.14
228.89
316.44
558.39
376.43
Revenue per Share
0.25
-1.11
-0.83
-0.37
2.59
1.1
1.71
1.75
1.95
2.36
-2.74
1.98
8.34
27.88
29.01
48.37
32.25
Basic EPS, GAAP
-7.86
-7.41
0.68
-0.92
-0.2
-0.59
0.64
-0.61
-3.64
3.94
3.22
-3.99
1.72
11.48
7.36
25.45
- -
Free Cash Flow per Basic Share
0.5
0.51
0.46
0.54
0.54
1.52
0.02
0.81
0.92
1
0.67
0.8
0.74
1.47
2.13
4.99
- -
Dividend per Share
-0.14
1.7
-0.16
-1.53
0.74
0.3
2
2.95
3.84
-0.22
-3.63
-2.44
5.16
31.58
57.85
129.91
86.6
Book Value per Share
27.43
28.37
20.61
18.06
28.21
27.95
29.39
29.71
30.67
45.13
42.11
43.05
47.65
74.73
102.54
196.75
131.16
Tangible Book Value per Share
301
342
459
498
498
498
498
498
498
521
533
533
533
533
533
355
533
Basic Weighted Avg Shares
15,109
16,633
18,762
20,043
15,975
15,597
17,806
21,233
25,858
34,413
25,469
44,173
81,123
122,053
168,737
198,501
200,742
Sales/Revenue/Turnover
-0.26
-12.66
-11.46
-11.68
-30.88
4.19
5.28
8.21
7.56
9.02
-2.79
6.21
7.56
10.52
11.28
11.98
11.52
Operating Margin (%)
319
411
448
536
743
394
420
462
524
2,480
2,580
3,116
4,944
6,718
8,959
13,619
13,612
Depreciation Expense
75
-378
-380
-186
1,293
550
850
870
970
1,228
-1,462
1,058
4,446
14,868
15,467
17,196
17,196
Net Income, GAAP
70.11
- -
- -
1,357.05
35.12
37.19
42.33
40.65
43.69
35.77
- -
68.89
28.7
23.08
24.4
23.03
23.03
Effective Tax Rate (%)
0.5
-2.27
-2.02
-0.93
8.1
3.53
4.78
4.1
3.75
3.57
-5.74
2.4
5.48
12.18
9.17
8.66
8.57
Profit Margin (%)
4,532
4,829
3,882
2,858
232
-655
146
244
3,043
12,162
6,519
11,300
12,838
15,684
16,628
8,473
8,473
Working Capital
2,250
2,500
3,250
3,250
914
960
998
999
2,996
25,251
25,892
46,234
42,482
13,438
16,010
12,068
12,068
LT Debt
10,103
11,697
12,410
9,934
14,893
14,747
15,484
15,962
16,436
24,674
23,575
24,099
26,630
41,026
55,834
71,080
71,080
Total Equity
-0.11
- -
- -
200.82
-20.24
2.22
2.83
5.25
5.32
5.52
- -
1.37
6.13
15.18
21
20.92
20.34
Return on Invested Capital (%)
4.89
- -
- -
-61.58
43.61
20.01
22.79
20.39
19.6
17.66
- -
7.29
16.06
42.07
37.32
28.99
28.99
Return on Capital (%)
- -
- -
- -
- -
- -
212.31
148.02
70.55
57.32
- -
- -
- -
- -
151.78
64.87
44.65
44.65
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
12,263
- -
13,544
LT Borrowings
- -
- -
- -
LT Finance Leases
11,222
- -
12,068
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
533
- -
533
Market Capitalization
1,662,668
1,521,196
1,171,712

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
38,860
- -
40,583
Cash, Cash Equivalents & STI
11,105
- -
9,289
Accounts Receivable, Net
586
- -
511
Inventories
22,425
- -
22,890
Total Current Liabilities
31,382
- -
32,110
Payables & Accruals
- -
- -
- -
ST Debt
12,263
- -
13,544
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.69%
26.04%
27.31%
Free Cash Flow
15.75%
59.33%
130.39%
Net Income, GAAP
27.34%
79.47%
11.18%
Sales/Revenue/Turnover
32.57%
52.69%
17.64%
Total Cash Common Dividend
373.77%
42.57%
56.24%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
26,284
29,824
34,666
31,279
122,053
2025
41,044
41,567
46,566
42,169
168,737
2026
48,835
48,177
53,451
50,280
198,501

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.25
4.4
7.02
- -
27.88
2025
7.36
6.35
9.33
5.97
29.01
2026
8.06
7.07
9.61
7.51
48.37

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.47
2025
- -
- -
- -
- -
2.13
2026
- -
- -
- -
- -
4.99
Similar Companies
Avatar Ventures Corp. (ATAR)
Esprit Holdings Limited (ESHDF)
Citi Trends, Inc. (CTRN)
ABC-Mart,Inc. (2670.T)
Xinjiang La Chapelle Fashion Co., Ltd. (603157.SS)
Roots Corporation (ROOT.TO)
Business
Trent Limited is an Indian retail company primarily engaged in the retailing and trading of fashion apparel, footwear, accessories, cosmetics, perfumes, and home furnishings through various retail formats. Founded in 1998 and headquartered in Mumbai, Trent operates key brands including Westside, which offers branded fashion apparel, footwear, and accessories for women, men, and children along with home décor and furnishings; Zudio, a value fashion brand providing affordable apparel and accessories; Star Bazaar, a hypermarket and grocery retail chain supplying food, beverages, health and beauty products, dairy, meat, and home goods; and specialty stores such as Utsa and Samoh. The company targets diverse consumer segments across India, focusing on fashion, lifestyle, and grocery markets. In the past 1-2 years, Trent Limited has undergone significant strategic shifts with accelerated store expansions, adding over 200 net stores in fiscal 2024 and further 236 net stores in 2025, particularly bolstering its Zudio and Westside brands. Trent has improved its capital structure markedly, reducing its lease liabilities through reassessment and consolidation of its physical store footprint with shorter lease tenures, enhancing operational efficiency and profitability. The company has also enhanced its digital presence through online platforms, strengthening omni-channel retail capabilities. Despite a challenging retail environment in 2025, Trent reported steady revenue growth driven by festive season sales and new store launches, maintaining a strong operating margin and return on equity. As a Tata Group entity, Trent leverages group synergies while maintaining autonomous operations focused on Indian retail markets. It continues to innovate in product offerings with over 22 in-house fashion labels under Westside, expanding lifestyle and home product categories. Recent operational improvements include inventory optimization and improved working capital metrics, supported by strong cash flows and liquid investments. Trent also emphasizes sustainability initiatives aligned with India's climate goals. The company remains a leading player in Indian retail with comprehensive product offerings spanning apparel, footwear, accessories, cosmetics, grocery, and home goods supported by robust multi-format retail operations across the country.