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Trent

₹4470 63.1 | 1.4%

Market Cap ₹158903 Cr.

Stock P/E 106.9

P/B 39.1

Current Price ₹4470

Book Value ₹ 114.4

Face Value 1

52W High ₹4697.2

Dividend Yield 0.07%

52W Low ₹ 1439.3

Trent Research see more...

Overview Inc. Year: 1952Industry: Retailing

Trent Limited is an India-based corporation, that's engaged in the enterprise of retailing / buying and selling of products. It is engaged in retailing / trading of apparels, shoes, accessories, toys and video games, amongst others. It operates thru Westside, Landmark, Zudio, Utsa, Star Market and Booker Wholesale retail formats. Its flagship format, Westside gives apparel, shoes and accessories for men, women and youngsters, along side fixtures, decor and a number domestic add-ons. Its own family amusement format, Landmark offers a number toys, front list books and sports products. Its cost retail format, Zudio caters to apparels and shoes for men, women and children. Its contemporary Indian life-style layout, Utsa offers ethnic clothing, splendor products and add-ons. The Company's hypermarket and grocery store shop chain working under Star Market concept offers an collection of products, along with staples, beverages, fitness and splendor merchandise along with fresh offerings.

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Trent Share Price

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Peer Comparison

Trent Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 1499 1329 1803 1953 2303 2183 2628 2982 3467 3298
Other Income 31 44 44 70 62 85 52 80 80 77
Total Income 1530 1373 1847 2023 2365 2268 2680 3062 3547 3375
Total Expenditure 1226 1194 1512 1697 1980 1980 2261 2526 2838 2828
Operating Profit 304 179 335 326 385 288 419 537 709 547
Interest 77 81 95 91 91 92 92 95 99 33
Depreciation 80 89 127 112 118 137 141 152 165 213
Exceptional Income / Expenses -16 0 0 0 0 -3 0 0 0 576
Profit Before Tax 131 8 113 123 176 57 186 289 446 877
Provision for Tax 43 20 32 58 50 19 46 86 105 207
Profit After Tax 87 -11 81 65 126 38 140 203 341 670
Adjustments 52 11 50 28 41 16 33 32 33 34
Profit After Adjustments 140 0 131 93 167 54 173 235 374 704
Adjusted Earnings Per Share 3.9 0 3.7 2.6 4.7 1.5 4.9 6.6 10.5 19.8

Trent Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 2132 2333 2284 1589 1812 2157 2630 3486 2593 4498 8242 12375
Other Income 68 61 97 57 61 44 41 149 202 175 261 289
Total Income 2200 2394 2381 1647 1873 2202 2672 3635 2795 4673 8503 12664
Total Expenditure 2131 2311 2201 1486 1675 1943 2389 2929 2409 3904 7129 10453
Operating Profit 69 84 181 160 198 259 282 706 386 769 1374 2212
Interest 29 26 22 48 46 44 51 263 261 325 409 319
Depreciation 45 54 74 39 41 46 52 247 257 311 494 671
Exceptional Income / Expenses -6 -3 115 11 -0 0 0 0 -1 -27 -3 576
Profit Before Tax -10 1 200 93 102 147 168 165 -205 111 552 1798
Provision for Tax 27 20 70 35 43 60 74 59 -24 77 158 444
Profit After Tax -38 -19 129 59 59 87 95 106 -181 35 394 1354
Adjustments 11 0 -0 -4 26 -0 2 17 35 71 51 132
Profit After Adjustments -27 -19 129 55 85 87 97 123 -146 106 445 1486
Adjusted Earnings Per Share -0.8 -0.6 3.9 1.7 2.6 2.6 2.9 3.5 -4.1 3 12.5 41.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 83% 33% 31% 14%
Operating Profit CAGR 79% 25% 40% 35%
PAT CAGR 1026% 55% 35% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 210% 81% 65% 46%
ROE Average 16% 3% 4% 4%
ROCE Average 32% 17% 16% 11%

Trent Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 1239 991 1422 1464 1548 1595 1647 2388 2313 2364 2595
Minority's Interest 2 3 3 10 1 1 -3 80 44 46 67
Borrowings 325 325 113 96 100 100 300 300 0 497 498
Other Non-Current Liabilities 122 133 61 10 27 33 42 2142 2500 4039 3671
Total Current Liabilities 501 470 607 574 547 606 574 487 751 653 1094
Total Liabilities 2188 1921 2204 2154 2222 2336 2559 5396 5609 7600 7925
Fixed Assets 843 720 668 477 515 579 630 2710 3026 4659 4500
Other Non-Current Assets 457 445 908 1169 1145 1126 1051 983 1180 1157 1048
Total Current Assets 889 755 628 508 562 631 878 1697 1393 1777 2369
Total Assets 2188 1921 2204 2154 2222 2336 2559 5396 5609 7600 7925

Trent Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 304 207 62 29 27 34 33 51 56 76 82
Cash Flow from Operating Activities 31 -46 -10 109 102 77 21 361 285 58 595
Cash Flow from Investing Activities -276 -49 -304 -98 -44 -4 -37 -816 16 56 -103
Cash Flow from Financing Activities 147 -50 310 -13 -51 -74 37 452 -283 -108 -491
Net Cash Inflow / Outflow -97 -145 -4 -2 7 -1 21 -2 18 6 1
Closing Cash & Cash Equivalent 207 62 56 27 34 33 54 56 76 82 83

Trent Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) -0.81 -0.56 3.89 1.65 2.55 2.62 2.92 3.46 -4.11 2.98 12.51
CEPS(Rs) 0.2 1.05 6.13 2.93 3.01 3.99 4.41 9.94 2.14 9.72 24.96
DPS(Rs) 0.7 0.7 1 0.9 1 1.15 1.3 1 0.6 1.7 2.2
Book NAV/Share(Rs) 37.06 29.82 42.79 44.07 46.58 48.01 49.55 67.17 65.06 66.5 73.01
Core EBITDA Margin(%) 0.03 0.9 3.5 6.11 7.13 9.14 8.4 14.69 6.5 12.14 12.47
EBIT Margin(%) 0.81 1.11 9.29 8.36 7.64 8.12 7.64 11.3 1.98 8.91 10.76
Pre Tax Margin(%) -0.47 0.06 8.37 5.53 5.28 6.25 5.87 4.35 -7.23 2.27 6.18
PAT Margin (%) -1.69 -0.76 5.43 3.48 3.04 3.71 3.31 2.8 -6.4 0.71 4.41
Cash Profit Margin (%) 0.3 1.42 8.55 5.76 5.19 5.65 5.11 9.32 2.69 7.06 9.94
ROA(%) -1.82 -0.91 6.27 2.69 2.68 3.82 3.88 2.66 -3.29 0.52 5.07
ROE(%) -3.18 -1.69 10.73 4.06 3.89 5.54 5.85 5.25 -7.71 1.48 15.88
ROCE(%) 1.2 1.89 14.71 7.94 7.74 9.7 10.62 17.74 2.11 15.93 32.28
Receivable days 3.47 3.12 2.7 3.32 1.79 1.63 2.01 1.62 2.44 1.46 1.08
Inventory Days 55.11 51.01 52.56 65.92 55.35 50.56 53.54 53.21 66.79 48.35 45.56
Payable days 84.22 86.49 75.82 88.88 69.37 66.74 63.1 52.63 68.08 47.99 33.57
PER(x) 0 0 37.73 95.91 104.03 132.26 123.33 138.67 0 428.77 109.93
Price/Book(x) 2.68 3.44 3.43 3.6 5.7 7.21 7.26 7.13 11.55 19.19 18.83
Dividend Yield(%) 0.7 0.68 0.68 0.57 0.38 0.33 0.36 0.21 0.08 0.13 0.16
EV/Net Sales(x) 1.61 1.57 2.23 3.55 5.07 5.5 4.71 4.96 10.39 10.18 5.98
EV/Core EBITDA(x) 49.96 43.96 28.18 35.21 46.39 45.87 43.9 24.47 69.84 59.53 35.87
Net Sales Growth(%) 15.57 9.43 -2.09 -30.42 14.04 19.04 21.91 32.53 -25.62 73.47 83.24
EBIT Growth(%) 182.93 50.58 709.47 -36.31 4.4 29.32 15.04 95.52 -86.93 679.1 120.41
PAT Growth(%) 18.27 50.63 791.03 -54.72 0.09 48.38 8.96 11.75 -270.91 119.1 1037.83
EPS Growth(%) 41.73 30.89 797.24 -57.51 54.43 2.49 11.49 18.44 -218.98 172.4 320.2
Debt/Equity(x) 0.27 0.33 0.19 0.27 0.25 0.25 0.3 0.13 0.13 0.21 0.19
Current Ratio(x) 1.78 1.61 1.03 0.89 1.03 1.04 1.53 3.48 1.85 2.72 2.17
Quick Ratio(x) 1.11 0.85 0.49 0.4 0.47 0.47 0.66 2.24 1.28 1.39 0.92
Interest Cover(x) 0.63 1.06 10.08 2.96 3.23 4.35 4.33 1.63 0.21 1.34 2.35
Total Debt/Mcap(x) 0.1 0.1 0.05 0.08 0.04 0.03 0.04 0.02 0.01 0.01 0.01

Trent Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 37.01 37.01 37.01 37.01 37.01 37.01 37.01 37.01 37.01 37.01
FII 28.94 28.32 26.82 21.39 20.23 19.9 20.48 21.64 21.38 22.27
DII 12.47 13.43 14.59 19.69 20.63 20.65 20.34 19.43 19.35 18.43
Public 21.58 21.24 21.59 21.91 22.13 22.45 22.18 21.93 22.26 22.29
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 35% CAGR over last 5 years
  • Debtor days have improved from 47.99 to 33.57days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 37.01%.
  • Company has a low return on equity of 3% over the last 3 years.
  • Stock is trading at 39.1 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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