Trent Ltd logo

Trent Ltd

TRENT NSE

Trent Ltd is engaged in retailing of apparels, footwear, accessories, toys, games, food, grocery & non food products through various of its retail formats/ concepts.[1]

AI Verdict: HOLD Confidence: 5%

Trent Ltd delivers exceptional growth with 69% profit CAGR over 5 years and 28% ROE, but trades at an extremely stretched valuation of 98.5x PE and 24.3x book value. With 76% analyst buy ratings, the business quality is undeniable, yet the stock's -18% return over the past year suggests the market is already repricing risk at these levels.

Key Fundamentals

LargecapSpeciality RetailRetail
Market Cap
1.7L Cr
Volatility
High Risk
P/E Ratio
99.7
EBITDA
₹3,788 Cr
Return on Equity
36.01%
Debt to Equity
0.39
Book Value
₹130.99
EPS
₹35.43
52W High
₹4,174.02
52W Low
₹2,183.68

Technical Indicators

Key Insights

Strengths

3
  • Company has delivered good profit growth of 68.7% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%
  • Company's median sales growth is 27.2% of last 10 years

Weaknesses

1
  • Stock is trading at 24.8 times its book value

Growth Rate

Revenue Growth
16.34% ↗
Net Income Growth
12.18% ↗
Cash Flow Change
60.61% ↗
ROE
-11.86% ↗
ROCE
-3.55% ↗
EBITDA Margin (Avg.)
9.32% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Trent Ltd delivers exceptional growth with 69% profit CAGR over 5 years and 28% ROE, but trades at an extremely stretched valuation of 98.5x PE and 24.3x book value. With 76% analyst buy ratings, the business quality is undeniable, yet the stock's -18% return over the past year suggests the market is already repricing risk at these levels.

Bull Case 8
  • Exceptional profit growth of 69% CAGR over 5 years demonstrates powerful operating leverage in the retail model
  • Consistent ROE of 28-29% over last 3 years indicates efficient capital allocation and strong unit economics
  • Revenue CAGR of 51% over 5 years reflects rapid store expansion and same-store sales growth
  • 76% of 25 analysts rate the stock a Buy, reflecting strong institutional confidence in the business trajectory
  • 10-year stock CAGR of 40% demonstrates sustained long-term wealth creation for shareholders
  • TTM sales growth of 17% and profit growth of 19% show continued momentum even on a larger base
  • Median sales growth of 27.2% over 10 years shows consistency of execution across economic cycles
  • Market cap of Rs 1,70,101 crore provides liquidity and index inclusion benefits for institutional investors
Bear Case 8
  • PE ratio of 98.5x is extreme even for a high-growth consumer discretionary name, leaving no margin of safety
  • Price-to-book of 24.3x implies market is pricing in decades of flawless execution with zero room for disappointment
  • Stock has declined 18% over the past 1 year, indicating valuation compression has already begun
  • Dividend yield of just 0.13% offers negligible income support during any potential drawdown
  • TTM profit growth has decelerated sharply to 19% from the 5-year CAGR of 69%, signaling base effect normalization
  • TTM sales growth of 17% is well below the 5-year CAGR of 51%, indicating growth rate mean-reversion
  • 8% of analysts rate the stock a Sell and 16% a Hold, suggesting not all professionals are convinced at current levels
  • 10-year ROE of 17% versus recent 28% suggests current profitability may partly reflect cyclical tailwinds rather than structural superiority

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • Chairman stepping down after 30 yrs Jun 24

    Noel Tata set to step down as Trent Chairman after nearly 30 years. No successor or timeline disclosed, creating leadership transition uncertainty.

Positives 4
  • Strong FY26 revenue up 18.2% May 30

    Trent reported standalone revenue of ₹19,701.41 Crore for FY2025-26, up 18.20% YoY, with PAT of ₹1,967.82 Crore.

  • 1:2 bonus share allotment completed Jun 5

    Trent allotted 17.77 crore bonus shares on Jun 5, 2026. Paid-up capital rose to ₹53.32 crore; dividend adjusted to ₹4 per share.

  • ESOP 2026 and bonus approved May 27

    Shareholders approved re-classification of share capital, bonus share issuance, and adoption of ESOP 2026 via postal ballot.

  • 11.13 lakh stock options granted Jun 19

    NRC approved granting 11,13,500 stock options under ESOP 2026 at ₹2,652 per share, subject to performance-based vesting conditions.

Neutral 4
  • 74th AGM held on Jun 23 Jun 23

    Trent held its 74th AGM via video conferencing on Jun 23, 2026. FY26 financials approved and key directors re-appointed.

  • Trading window closed for Q1FY26 Jun 15

    Trent shut its trading window from Jun 24, 2026, until 48 hours after Q1FY26 results declaration to prevent insider trading.

  • Analyst meeting at Citi CEO Tour Jun 10

    Trent scheduled an analyst and institutional investor meeting on Jun 16, 2026 as part of Citi's India CEO Consumption Tour.

  • ₹18.59 Cr block trade on NSE Jun 9

    Block trade of ~66,733 shares executed at ₹2,785.90 per share on NSE, totaling ₹18.59 crore, indicating institutional-level activity.

TL;DR: Trent delivered solid FY26 growth with 18.2% revenue increase and rewarded shareholders via a 1:2 bonus issue. The ESOP grants signal confidence in retention and future performance. The key risk is leadership uncertainty with Noel Tata's departure after nearly three decades and no announced successor. The business trajectory remains strong, but investors should watch for clarity on the chairman transition and upcoming Q1FY26 results.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
2,183
2,628
2,982
3,467
3,298
4,104
4,157
4,657
4,217
4,883
4,818
5,345
5,028
Expenses
1,980
2,261
2,526
2,838
2,828
3,491
3,511
3,809
3,566
4,036
4,002
4,264
4,117
Operating Profit
203
367
457
629
470
613
646
847
651
848
816
1,081
911
OPM %
9%
14%
15%
18%
14%
15%
16%
18%
15%
17%
17%
20%
18%
Other Income
89
79
105
110
695
101
51
80
74
50
28
5
28
Interest
92
92
95
99
33
32
33
37
38
40
42
43
44
Depreciation
137
141
152
165
213
181
197
245
272
293
325
367
377
PBT
64
212
314
475
919
501
467
646
416
565
477
676
519
Tax %
30%
21%
27%
22%
23%
22%
28%
23%
25%
25%
22%
25%
20%
Net Profit
45
167
228
371
712
391
335
497
312
425
373
510
413
EPS in Rs
1.01
3.25
4.4
7.02
13.21
7.36
6.35
9.33
5.97
8.06
7.07
9.62
7.51
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,284
1,686
1,812
2,157
2,630
3,486
2,593
4,498
8,242
12,375
17,135
20,074
Expenses
2,196
1,596
1,679
1,949
2,390
2,957
2,479
3,903
7,128
10,404
14,315
16,329
Operating Profit
88
90
134
208
241
529
114
595
1,114
1,971
2,820
3,745
OPM %
4%
5%
7%
10%
9%
15%
4%
13%
14%
16%
16%
19%
Other Income
208
86
81
27
30
147
199
152
341
989
305
85
Interest
22
48
46
44
51
263
261
325
409
368
200
233
Depreciation
75
39
41
46
52
247
257
311
494
671
895
1,361
PBT
200
90
128
147
168
165
-205
111
552
1,921
2,030
2,236
Tax %
35%
39%
34%
41%
44%
36%
-12%
69%
29%
23%
24%
23%
Net Profit
129
55
85
87
95
106
-181
35
394
1,477
1,534
1,721
EPS in Rs
2.6
1.11
1.7
1.74
1.95
2.3
-2.74
1.98
8.34
27.88
29.01
32.25
Div. Payout %
26%
54%
39%
44%
45%
29%
-15%
57%
18%
8%
11%
8%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
33
33
33
33
33
36
36
36
36
36
36
36
Reserves
1,389
1,431
1,514
1,562
1,613
2,352
2,277
2,328
2,560
4,032
5,426
6,949
Borrowings
267
400
392
391
494
300
2,964
4,725
4,464
1,753
2,237
2,561
Other Liabilities
518
292
283
349
418
2,819
447
637
1,022
1,341
1,721
2,183
Total Liabilities
2,207
2,157
2,222
2,336
2,559
5,507
5,724
7,726
8,082
7,162
9,420
11,729
Fixed Assets
668
477
549
613
662
2,738
3,054
4,687
4,527
2,450
3,895
5,519
CWIP
92
55
5
10
87
23
108
105
102
224
180
254
Investments
740
1,067
1,080
1,023
883
1,515
1,487
1,284
1,110
1,416
1,480
1,385
Other Assets
706
558
588
691
927
1,230
1,075
1,651
2,343
3,072
3,865
4,571
Total Assets
2,207
2,157
2,222
2,336
2,559
5,507
5,724
7,726
8,082
7,162
9,420
11,729
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-10
109
102
77
21
361
285
58
595
1,349
1,661
2,668
Investing
-306
-98
-44
-4
-37
-809
18
56
-103
-508
-923
-1,577
Financing
310
-13
-51
-74
37
452
-283
-108
-491
-629
-694
-1,148
Net Cash Flow
-6
-2
7
-1
21
5
20
6
1
211
44
-57
Free Cash Flow
-166
-21
34
-30
-174
247
194
-152
371
955
799
931
CFO/OP
4
144
105
61
41
84
251
23
71
84
76
86
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
3
3
1
3
2
2
3
1
2
2
1
1
Inventory Days
91
128
126
122
138
118
102
128
105
83
77
74
Days Payable
61
76
70
74
68
58
65
56
51
41
35
39
Cash Conversion Cycle
33
55
58
51
72
62
40
74
55
45
43
36
Working Capital Days
-15
-25
36
41
24
39
-14
42
29
16
15
-2
ROCE %
4%
7%
9%
10%
11%
17%
1%
7%
12%
24%
31%
28%

Shareholding Pattern

As of Mar 2026
Promoters 37.01%
DIIs 22.37%
FIIs 15.59%
Public 15.04%
Others 9.99%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Aug 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
37.01%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.53%
4.53%
4.53%
0.00%
0.00%
4.53%
25.91%
26.81%
27.87%
26.62%
21.68%
19.66%
18.39%
16.82%
15.62%
15.59%
DIIs
9.84%
10.30%
10.69%
12.01%
12.99%
14.11%
15.18%
16.12%
16.13%
15.82%
15.82%
14.17%
14.84%
13.91%
13.19%
13.39%
15.29%
17.24%
18.54%
19.98%
21.50%
22.37%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
14.03%
13.82%
13.63%
13.70%
13.68%
13.97%
14.21%
14.42%
14.69%
14.45%
14.45%
14.34%
14.72%
14.74%
14.55%
14.36%
14.42%
14.57%
14.50%
15.43%
15.36%
15.04%
Others
39.12%
38.87%
38.67%
37.29%
36.33%
34.92%
29.08%
27.93%
27.65%
32.73%
32.73%
29.95%
7.53%
7.54%
7.39%
8.63%
11.59%
11.52%
11.56%
10.76%
10.51%
9.99%
No. of Shareholders
0
84,450
88,528
92,516
1,06,810
1,12,460
1,24,298
1,37,123
1,36,168
1,30,471
1,30,471
1,49,010
1,75,241
2,15,715
2,46,571
2,81,635
3,46,036
4,05,274
4,21,038
4,88,273
5,07,525
5,12,623

Documents

1
Concall - Aug 2023 Aug 2023
2
Concall - Apr 2026 Apr 2026
3
Concall - Apr 2026 Apr 2026
4
Concall - Aug 2023 Aug 2023
5
Concall - Nov 2023 Nov 2023

Frequently Asked Questions about Trent Ltd

What does Trent Ltd do?
Trent Ltd is engaged in retailing of apparels, footwear, accessories, toys, games, food, grocery & non food products through various of its retail formats/ concepts.[1]
Where is Trent Ltd (TRENT) listed?
Trent Ltd is listed on the Indian stock exchanges. It is listed on NSE: TRENT and BSE: 500251. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Trent Ltd belong to?
Trent Ltd operates in the Consumer Discretionary sector within the Retailing industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Trent Ltd?
Trent Ltd has a market capitalisation of approximately ₹174782.52 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Trent Ltd?
The Price-to-Earnings (PE) ratio of Trent Ltd is 99.70. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Trent Ltd?
Over the past 52 weeks, Trent Ltd has traded between a low of ₹2,183.68 and a high of ₹4,174.02. This range helps investors understand the stock's price volatility and recent trading levels.
Does Trent Ltd pay dividends?
Yes, Trent Ltd has a dividend yield of 0.12%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Trent Ltd?
Trent Ltd has a Return on Equity (ROE) of 36.01%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Trent Ltd on Tapetide?
On Tapetide, you can view Trent Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Trent Ltd is engaged in retailing of apparels, footwear, accessories, toys, games, food, grocery & non food products through various of its retail formats/ concepts.[1]

Website trentlimited.com
CEO Mr. Venkatesalu Palaniswamy
Employees 27,887
Listed 2004-06-07
Face Value ₹ 1
Issued Size 35,54,87,461

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