evenfolio

Consumer Services · NSE: TRENT

Trent

Price as of 12 Nov 2026
3,180.00−1.32%

Q2 FY27 · From the investor presentation

Read the filing on NSEFiling

85​%Share of new Zudio stores in Tier II and beyond · Zudio · Q2FY27Slides · p. 9
87​storesStore count · Star · Q2FY27Slides · p. 10
1,300​storesLarge-box fashion stores · Q2FY27Slides · p. 9
M.Cap
₹1,69,568Cr₹1.70L Cr
P/E
89.4×
1Y return
−27.33%
From 52W high
−28.0%

Highlights are read by AI from the company's filing and can contain mistakes. Check the source page linked to each line.

Share price

Results Q2 FY27, as filed · consolidated · ₹ Cr

Q2 FY27Q2 FY26YoYQ1 FY27QoQ
Revenue5,8734,818+21.9%5,755+2.1%
EBITDA1,078817+31.9%1,129-4.5%
EBITDA margin18.4%17.0%+140 bps19.6%-126 bps
PBTProfit before tax640478+33.9%702-8.8%
Net profit464377+23.1%519-10.6%
EPS (₹)8.7010.60-17.9%9.73-10.6%

From the company's own results filing on NSE. Net profit is the owners' share. Growth and the dotted lines are worked out from the filed figures.

Guidance

Annual pace of new store openings expected to remain broadly consistent

Slides · p. 9
“On an annual basis we expect the trajectory of new store openings to remain broadly consistent.”

In short

  1. 01Standalone Q2 FY27 revenue from operations was Rs 5,788 Cr, up 23%; PAT Rs 490 Cr, up 9%
  2. 02Annual new store openings expected to stay broadly consistent
  3. 03Opened 10 Westside and 19 Zudio stores in Q2, closing with 311 Westside and 999 Zudio stores
  4. 04Fashion like-for-like growth was in the mid-single digits in Q2 FY27
  5. 05Star revenues grew over 20% in the quarter; store count 87
  6. 06Prior-year PAT included Rs 96 Cr profit on sale of assets in Q2 FY26
  7. 07Inflation across line items remains elevated

Capex

Capex funded from internal accruals: new stores, refits, warehousing, automation, tech

Slides · p. 11
“We continue to substantially invest our internal accruals to support growth and the resilience of our brands. These commitments, including capital expenditure, cover opening of new stores, refresh of select stores from the existing portfolio, expanding warehousing and supply chain infrastructure along with a range of automation and technology related investments.”

Capacity

Opened 10 Westside and 19 Zudio stores in Q2 FY27; consolidated 2 Zudio stores

Slides · p. 9
“In Q2FY27 we opened 10 Westside and 19 Zudio stores and consolidated 2 Zudio stores.”

Portfolio at 30 Sep 2026: 311 Westside, 999 Zudio, 32 other stores; over 18.5 mn sq ft

Slides · p. 9
“As of 30th September 2026, our store portfolio included 311 Westside, 999 Zudio (including 7 stores in the UAE) and 32 stores across other lifestyle concepts and we operated with a footprint of over 18.5 million sqft. across our fashion brands.”

Segments

fashion portfolio: Fashion like-for-like growth in Q2 FY27 was in the mid-single digits

Slides · p. 10
“Like-for-like growth for our fashion portfolio in Q2FY27 was in the mid-single digits.”

emerging categories: Emerging categories (beauty, innerwear, footwear) contributed over 21% of revenues

Slides · p. 10
“The emerging categories, including beauty & personal care, innerwear and footwear contributed over 21% of our revenues.”

Westside online: Westside online revenues grew 20% in H1 FY27, over 6% of Westside revenues

Slides · p. 10
“In H1FY27, online revenues grew by 20% and contributed to over 6% of Westside revenues.”

Star: Star (food and grocery) revenues grew by over 20% in the quarter

Slides · p. 10
“Star revenues grew by over 20% during the quarter.”

Star: Star own brand share at 74% in Q2 FY27 versus 73% in Q2 FY26

Slides · p. 27
“% Own Brand Share: 73% % Own Brand Share: 74%”

Demand

Concepts saw traction in the quarter given the shift of the festive window

Slides · p. 9
“Our concepts registered healthy traction, especially seen in the context of the shift of the festive window this year.”

Outlook for organised fashion retail described as encouraging

Slides · p. 9
“Structurally the outlook for organised fashion retail remains encouraging, supported by formalisation, higher consumer aspirations, and increased consumption propensity.”

Margins and costs

Sourcing actions and supplier engagement help manage inflation

Slides · p. 9
“Our sourcing actions and broader supplier engagements continue to help us navigate these inflationary headwinds.”

Company aims for stable price architecture and a relatively stable margin profile

Slides · p. 11
“We believe a broadly stable price architecture across categories, a consistent focus on driving efficiencies and maintaining a relatively stable margin profile over time would yield better salience for our brands.”

Existing stores managed through customer experience upgrades and brand salience

Slides · p. 11
“We are experiencing encouraging economic outcomes from actively managing our existing store portfolio through customer experience upgrades and improving brand salience.”

Acquisitions and new business

Newer brands Burnt Toast, Samoh and Zudio Middle East at varying stages of evolution

Slides · p. 10
“Our newer brands (Burnt Toast and Samoh), emerging categories and new geographies including Zudio in the Middle East market are at varying stages of evolution.”

One-offs

Prior year included profit on sale of assets of Rs 96 Cr in Q2 FY26 and Rs 109 Cr in H1 FY26

Slides · p. 11
“Other income for the previous year includes pre-tax profit on sale of assets of Rs. 96 cr in Q2FY26 and Rs. 109 cr in H1FY26.”

Profit on sale of assets in Q2 and H1 FY27 is not material

Slides · p. 11
“The corresponding profit on sale of assets in Q2 and H1FY27 is not material.”

Risks

Inflation across line items remains elevated

Slides · p. 9
“The inflation levels across line items remains elevated. The volatile geopolitical circumstances, interest rate trends and supply-chain disruptions continue to contribute to this playout.”

Competitive intensity high over past few years, no material recent shift

Slides · p. 10
“Given the size and attractiveness of the fashion/ lifestyle market in India, the competitive intensity has been high over the past few years, with no material recent shift.”

Other

Standalone Q2 FY27 revenue Rs 5,788 Cr (+23%), Op. EBITDA Rs 791 Cr, PAT Rs 490 Cr (+9%)

Slides · p. 6
“23% 37% 35% 9% ₹ 5,788Cr ₹ 791Cr ₹ 669Cr ₹ 490Cr Standalone Revenue from Op. EBITDA Op. EBIT PAT”

Consolidated Q2 FY27 revenue Rs 5,873 Cr (+22%), Op. EBITDA Rs 785 Cr, PAT Rs 468 Cr (+25%)

Slides · p. 6
“22% 37% 33% 25% ₹ 5,873Cr ₹ 785Cr ₹ 653Cr ₹ 468Cr Consolidated Revenue from Op. EBITDA Op. EBIT PAT”

Company is accelerating deployment of AI and digital initiatives over near to medium term

Slides · p. 11
“Over the near to medium term, we are accelerating our commitment to forward deployment and integration of several AI/digital initiatives.”

Preferred model is company-operated stores; franchising selective

Slides · p. 11
“Our approach to franchising has been selective given diverse objectives and primarily related to properties. Our preferred operating model is for stores to be Company-Operated.”

Quarterly store openings are uneven due to property, fitout and approval timelines

Slides · p. 9
“Quarterly store openings are inherently asymmetric given the complexities around property development, fitout timelines & regulatory approvals.”

Sources

Management's own statements, quoted from its NSE filings. This page was read by AI and can contain mistakes: check the source pages before relying on any figure. No forecast or opinion of ours. Not investment advice.

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