loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

Trent Ltd. reported its business update for Q2FY27

ICICIdirect Research 06 Oct 2026 DISCLAIMER

News: Trent Ltd. reported its business update for Q2FY27. Standalone revenues grew 23% YoY to Rs.5,788cr. During the quarter, the company added 27 stores across its Lifestyle formats, Zudio and Westside. As of 30th September 2026, Westside had 311 stores, with 10 net stores added during the quarter, while Zudio had 999 stores, with 17 net stores added. H1FY27 standalone revenues grew 21% YoY to Rs.11,454cr.

View: Trent’s reported revenue growth of 23% is ahead of our expectation of ~20% and is inching towards management’s revenue growth guidance of 25%. The growth is also encouraging given the absence of the festive season during the quarter, with key festivals shifting to Q3FY27 compared to Q2FY27 last year. We believe revenue growth would have been supported by both store additions and SSG. Over the past three quarters, the company has added 243 stores (net additions) across Westside and Zudio. We believe sustained store additions would have largely supported revenue growth, while stores added over the past quarters would have started to mature. Hence, SSSG should also have improved to close to mid-single digits during the quarter from low single digit earlier. As more of these new stores mature ahead, we expect revenue per sqft to improve, which help overall revenue growth improve to mid-twenties ahead in the quarters ahead. Trent has remained underperformer on the indices for last one year due to inconsistent performance. Any consistency in the form of 20-25% revenue growth along with stable margins will augur well for the stock.

Impact: Positive

Download
ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download
ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere