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Informist, Saturday, Apr. 18, 2026

 

By Avishek Rakshit

 

KOLKATA – Increase in sales on account of new store openings and improved sales from the flagship Westside brand of retail stores is expected to help Trent Ltd. report a strong top line growth in the March quarter.

 

The Tata group company's standalone top line for the March quarter is expected to rise by 19.47% on year to over INR 49 billion, according to the average of estimates from six brokerages. On a sequential basis, the company's revenue is expected to fall 6.73%. The highest estimate for the company's March quarter revenue is INR 49.40 billion by HDFC Securities Ltd. and the lowest is INR 48.41 billion by Kotak Securities Ltd.

 

Trent's bottom line for the March quarter is expected to rise nearly 6% on year but fall sharply by 44.31% on quarter to INR 3.71 billion. The highest estimate for its net profit is INR 4.89 billion from Nuvama Wealth Management Ltd. and the lowest is INR 3.02 billion from Motilal Oswal Financial Services Ltd. The company will declare its March quarter results on Wednesday.

 

In a quarterly update earlier this month, Trent said its top line for the March quarter increased by 20% on year to over INR 49 billion. During the year ended March, sales grew by 18% to over INR 197 billion, the company said.

 

Estimates from brokerages available with Informist show that the same store growth was marginally positive in the March quarter. It is a key barometer in the retail industry which measures and shows if sales from the same store has risen or fallen and by how much in any quarter or year. Since same store growth was marginal as per the brokerages, only store expansion could have led the revenue growth.

 

In the March quarter, Trent opened 22 new Westside stores and 109 Zudio stores. These additions resulted in Trent ending the last financial year with a portfolio of 1,286 stores which include 300 Westside, 963 Zudio, and 23 stores across other lifestyle concepts.

 

Trent's earnings before interest, tax, depreciation, and amortisation for the March quarter are expected to be INR 8.31 billion, according to the average of estimates from six brokerages. The EBITDA estimates range between INR 9.34 billion by Nuvama and INR 7.43 billion by brokerage Motilal Oswal.

 

Nuvama expects Trent's EBITDA margin to improve by 3 percentage points on cost efficiencies and net profit margin to improve by about 1 percentage point after taking into account higher depreciation and interest on account of lease accounting.

 

On Friday, shares of the company closed at INR 4,107.70 on the National Stock Exchange, up 0.6% from the previous session. The shares are up 2.4% since the company announced its December quarter earnings in February.

 

Of the eight research reports on the company available with Informist, seven have a 'buy' recommendation on the stock for an average target price of INR 4,801 and one brokerage has a 'hold' call on the scrip.

 

Following are the Jan-Mar earnings estimates for Trent Ltd. from six brokerages in descending order of the estimate of net profit:
 

Broker Name	Net Sales (in INR billion)	Net Profit (in INR billion)	EBITDA (in INR billion)
Nuvama Wealth Management Ltd	49.37	4.89	9.34
Kotak Securities Ltd	48.41	3.79	8.63
HDFC Securities Ltd	49.40	3.60	8.20
Equirus Securities Pvt Ltd	49.37	3.54	8.08
Elara Securities (India) Pvt Ltd	49.30	3.40	8.20
Motilal Oswal Financial Services Ltd	48.48	3.02	7.43
Average	49.05	3.71	8.31

 

End

 

Edited by Ashish Shirke

 

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