TRENT
Trent share price & financials
- Price
- ₹2,842.4
- Market cap
- ₹1.5L Cr
- Sector
- Consumer Services
What Trent Limited does
Trent operates a portfolio of own-brand, company-operated retail store chains in India: fashion and lifestyle concepts Westside, Zudio, Samoh and Burnt Toast, and the Star supermarket banner for food and grocery. It designs, sources and distributes its own exclusive brands rather than reselling third-party labels, controlling the value chain from design through in-store and online retail. The company earns primarily by selling its own-branded apparel, footwear, accessories, home products and grocery/staples through its physical store network and omnichannel (online) platforms, and generally retains ownership of stores and merchandise rather than franchising.
Segments
- Fashion
- Food & Grocery
- Total store count
- 1,286 stores
- City presence
- 321 cities, including 3 in UAE
- Retail area
- 17.70 Mn sq. ft.
- Zudio stores
- 963 stores across 313 cities
- Westside stores
- 300 stores across 97 cities
- Star (food & grocery) stores
- 84 stores across 12 cities
Quarterly results
Q1 FY27: revenue up 17.9%, net profit up 21.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,157 | 4,657 | 4,217 | 4,883 | 4,818 +16% | 5,345 +15% | 5,028 +19% | 5,755 +18% |
| EBITDA | 646 | 847 | 651 | 848 | 816 +26% | 1,081 +28% | 911 +40% | 1,119 +32% |
| Net profit | 335 | 497 | 312 | 425 | 373 +11% | 510 +3% | 413 +32% | 518 +22% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −46.0% 1Y
1Y: ₹5,193 on 10 Sept 2025 → ₹2,802.4. High ₹5,197.5 (17 Sept 2025), low ₹2,688.2 (18 May 2026).
Financials, as filed
Revenue grew 35.1% a year over 3 years, FY23 to FY26. Operating margin widened to 18.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹8.1k Cr | ₹12.4k Cr | ₹17.1k Cr | ₹20.1k Cr |
| Operating profit | ₹1.1k Cr | ₹1.9k Cr | ₹2.8k Cr | ₹3.7k Cr |
| Operating margin | 13.3% | 15.5% | 16.1% | 18.2% |
| Interest | ₹365 Cr | ₹319 Cr | ₹140 Cr | ₹169 Cr |
| Depreciation | ₹485 Cr | ₹671 Cr | ₹895 Cr | ₹1.4k Cr |
| Net profit | ₹454 Cr | ₹1.5k Cr | ₹1.5k Cr | ₹1.7k Cr |
| Net margin | 5.6% | 11.9% | 9.0% | 8.6% |
| Cash from operations | ₹595 Cr | ₹1.3k Cr | ₹1.7k Cr | ₹2.7k Cr |
| Free cash flow | ₹371 Cr | ₹955 Cr | ₹799 Cr | ₹931 Cr |
| ROCE | 12.0% | 24.0% | 31.0% | 28.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr |
| Reserves | ₹2.3k Cr | ₹2.3k Cr | ₹2.6k Cr | ₹4.0k Cr | ₹6.1k Cr | ₹6.9k Cr |
| Borrowings | ₹3.0k Cr | ₹4.7k Cr | ₹4.5k Cr | ₹1.8k Cr | ₹2.3k Cr | ₹2.6k Cr |
| Other liabilities | ₹447 Cr | ₹637 Cr | ₹1.0k Cr | ₹1.3k Cr | ₹2.3k Cr | ₹2.2k Cr |
| Total liabilities | ₹5.7k Cr | ₹7.7k Cr | ₹8.1k Cr | ₹7.2k Cr | ₹10.7k Cr | ₹11.7k Cr |
| Fixed assets | ₹3.1k Cr | ₹4.7k Cr | ₹4.5k Cr | ₹2.5k Cr | ₹4.6k Cr | ₹5.5k Cr |
| Capital work in progress | ₹108 Cr | ₹105 Cr | ₹102 Cr | ₹224 Cr | ₹196 Cr | ₹254 Cr |
| Investments | ₹1.5k Cr | ₹1.3k Cr | ₹1.1k Cr | ₹1.4k Cr | ₹1.6k Cr | ₹1.4k Cr |
| Other assets | ₹1.1k Cr | ₹1.7k Cr | ₹2.3k Cr | ₹3.1k Cr | ₹4.4k Cr | ₹4.6k Cr |
| Total assets | ₹5.7k Cr | ₹7.7k Cr | ₹8.1k Cr | ₹7.2k Cr | ₹10.7k Cr | ₹11.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +4.65 pp while FIIs trimmed −3.25 pp. The shareholder count grew 24% to 5,20,340.
- Promoters
- 37.0%
- FIIs
- 15.1%
- DIIs
- 23.1%
- Government
- 0.2%
- Public
- 24.6%
Since Jun 2025
- DIIs +4.65 pp
- FIIs −3.25 pp
- Public −1.49 pp
How it drifted, 12 quarters
Over this window FIIs fell from 26.2% to 15.1% — −11.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 37.0%, FIIs 26.2%, DIIs 14.9%, Public 21.9%.Dec '23: Promoters 37.0%, FIIs 25.9%, DIIs 14.8%, Public 22.3%.Mar '24: Promoters 37.0%, FIIs 26.8%, DIIs 13.9%, Public 22.3%.Jun '24: Promoters 37.0%, FIIs 27.9%, DIIs 13.2%, Public 21.9%.Sep '24: Promoters 37.0%, FIIs 26.6%, DIIs 13.4%, Public 23.0%.Dec '24: Promoters 37.0%, FIIs 21.7%, DIIs 15.3%, Government 0.0%, Public 26.0%.Mar '25: Promoters 37.0%, FIIs 19.6%, DIIs 17.2%, Government 0.0%, Public 26.1%.Jun '25: Promoters 37.0%, FIIs 18.4%, DIIs 18.4%, Government 0.1%, Public 26.1%.Sep '25: Promoters 37.0%, FIIs 16.8%, DIIs 19.8%, Government 0.1%, Public 26.2%.Dec '25: Promoters 37.0%, FIIs 15.6%, DIIs 21.4%, Government 0.1%, Public 25.9%.Mar '26: Promoters 37.0%, FIIs 15.6%, DIIs 22.2%, Government 0.2%, Public 25.0%.Jun '26: Promoters 37.0%, FIIs 15.1%, DIIs 23.1%, Government 0.2%, Public 24.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund Mutual fund newly disclosed 2.37% held
- NPS Trust A/C UTI Pension Fund Limited-Scheme State Govt Pension / PF newly disclosed 1.69% held
- Life Insurance Corporation Of India Insurer +0.11 pp 3.03% held
- Tata Motors Limited newly disclosed 0.00% held
- Fastighetsbolaget Färgelanda Assarbyn 1:15 AB newly disclosed 0.00% held
- TIL Motor-Hub Nigeria LFZ Enterprise newly disclosed 0.00% held
- Artifex Systems Slovakia s. r. o. (formerly known as IAC Group (Slovakia) s.r.o.) newly disclosed 0.00% held
- PT TQCert Indonesia newly disclosed 0.00% held
The same filing shows 3 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Trent Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Tata Sons Private Limited | 32.45% | unchanged |
| Siddhartha Yog | 4.53% | unchanged |
| Tata Investment Corporation Ltd | 4.28% | unchanged |
| Life Insurance Corporation Of India Insurer | 3.03% | +0.11 pp |
| ICICI Prudential Balanced Advantage Fund Mutual fund | 2.59% | −0.31 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund Mutual fund | 2.37% | newly disclosed |
| SBI Nifty 50 ETF Mutual fund | 2.13% | unchanged |
| SBI Life Insurance Co. Ltd Insurer | 1.76% | −0.50 pp |
| NPS Trust A/C UTI Pension Fund Limited-Scheme State Govt Pension / PF | 1.69% | newly disclosed |
| UTI Nifty 50 ETF Mutual fund | 1.31% | −0.15 pp |
| Ewart Investments Limited | 0.28% | unchanged |
| Tata Steel Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in TRENT
Filings to Aug 2026
1 new, 14 added, 9 trimmed, 0 sold out — net +5.72 L shares (+2.1%).
- Held by funds
- ₹8.1k Cr
- 42 schemes
- Biggest holder
- SBI Nifty 50 ETF
- ₹1.9k Cr · 0.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Nifty 50 ETF SBI Mutual Fund | ₹1.9k Cr | +0.34 L | Sep '24 |
| SBI BSE Sensex ETF SBI Mutual Fund | ₹1.3k Cr | +0.44 L | Jun '25 |
| Nippon India Large Cap Fund Nippon India Mutual Fund | ₹703 Cr | held | Sep '25 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹583 Cr | +0.41 L | Sep '24 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹485 Cr | held | Oct '25 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹462 Cr | held | Jan '21 |
| Nippon India Focused Fund Nippon India Mutual Fund | ₹338 Cr | held | Oct '25 |
| Nippon India ETF BSE Sensex Nippon India Mutual Fund | ₹300 Cr | +0.29 L | Jun '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
14 added, 9 trimmed — net +5.72 L shares (+2.1%)
- Funds are sitting on
- -38%
- vs est. average cost
- Held by funds
- ₹8.1k Cr
- 42 schemes · ≈ 5.3% of the company
- Biggest holder
- SBI Nifty 50 ETF
- ₹1.9k Cr · 0.9% of that fund
- Longest holder
- Nippon India Consumption Fund
- 7y 5m · since Apr '19
Shares held by these funds +528%
Aug '23 2.74 cr shares Jul '26
What the price assumes
AttractiveTo justify its price of ₹2802, this stock must grow earnings at 33% every year for 7 years. Our analysis caps realistic growth at ~56%. At that growth it is worth ₹8066 — upside of 188%.
- Growth the price implies
- 32.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 55.9% a year
- net profit, FY23–FY26
- The gap
- -0.2 pp
- 188% downside if it only repeats history
Learn to analyse Trent Limited
Guides on how to read this kind of business and the numbers that matter.