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Tata Group's fashion and value-retail chain, running Westside and Zudio stores across India.
Tata Group's fashion and value-retail chain, running Westside and Zudio stores across India.
Sells mostly its own-label clothing and accessories through its own stores, so it earns the full retail margin rather than a brand's wholesale share, with Zudio's low prices and fast-turning stock driving most store growth. Tata group companies are its largest shareholders.
In one line: A Tata-owned Indian Zara/Uniqlo-style value fashion retailer.
Moat: narrow (brand, distribution, scale). Tata Group backing plus a fast-growing value-fashion chain (Zudio) gives distribution scale in Indian retail.
Headquarters: Mumbai, India · Founded: 1998 · Employees: 38,417
Size Trent (TRENT.NS) is an India Consumer Discretionary company (Apparel/Footwear Retail) with a market value of $17.4B, the 58th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,079 on 6 Nov 2026.
Performance Over six months the shares gained 7.5%, against +14.8% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 15 in its peer set.
Growth Revenue grew 18.4% over the last twelve months (peer median +10.6%); the operating margin is 12.0% (peer median 9.6%).
Valuation It trades at 75.1× forward earnings against a peer median of 17.4× (most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 60% a year for seven years (Req g). Recent delivered growth is +51%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.4 points above its cost of capital (19.5% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹220B | ₹201B | ₹171B | ₹124B | ₹82.3B |
| Revenue growth | — | +17% | +38% | +50% | — |
| Gross profit | ₹68.0B | ₹51.5B | ₹44.6B | ₹31.8B | ₹20.2B |
| EBITDA | ₹42.2B | ₹37.4B | ₹28.1B | ₹19.5B | ₹11.0B |
| Net income | ₹19.0B | ₹17.2B | ₹15.5B | ₹14.9B | ₹4.45B |
| Free cash flow | n/a | ₹7.83B | ₹2.66B | ₹3.80B | -₹1.11B |
| Capital expenditure | n/a | ₹17.6B | ₹12.7B | ₹7.37B | ₹5.03B |
| Total debt | ₹23.3B | ₹25.6B | ₹22.4B | ₹17.5B | ₹44.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Trent TRENT.NS | $17.4B | +8% | +18% | 12% | 75.1× | 60.1% |
| Aditya Birla Fashion and Retail ABFRL.NS | $503M | -42% | -27% | -8% | n/a | n/a |
| Shoppers Stop SHOPERSTOP.NS | $428M | +2% | +9% | 4% | 210.3× | 17.1% |
| Vishal Mega Mart VMM.NS | $4.67B | -25% | +18% | 9% | 43.8× | 32.3% |
| V-Mart Retail VMART.NS | $636M | +14% | +18% | 6% | 38.9× | 36.5% |
| Avenue Supermarts DMART.NS | $23.6B | -22% | +16% | 6% | 63.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TRENT.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.5% | +7.8% | 8th highest of 15 |
| 6-month return | +7.5% | +14.8% | 6th lowest of 15 |
| Distance from 52-week high | -9.4% | -10.4% | 7th highest of 15 |
| Revenue growth (TTM) | +18.4% | +10.6% | 3rd highest of 15 |
| Operating margin | 12.0% | 9.6% | 6th highest of 15 |
| Forward P/E | 75.1× | 17.4× | most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 60.1% | 9.0% | most demanding of 14 |
| Growth delivered (Del g) | +50.6% | +12.3% | highest of 14 |
| Hurdle (Req g minus delivered) | +9.5 pp | -4.5 pp | 3rd most demanding of 14 |
| ROIC minus cost of capital | +1.4 pp | +6.0 pp | 6th lowest of 15 |
| EV / EBITDA | 39.3× | 10.5× | most expensive of 14 |
| Net debt / EBITDA | 0.3× | 1.2× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Trent TRENT.NS | India | $17.4B | +8% | +18% | 12% | 75.1× | 60.1% | +50.6% |
| Allegro.eu ALE.WA | Poland | $15.5B | +97% | +8% | 20% | 30.8× | 22.1% | +23.4% |
| Burlington Stores BURL | United States | $15.5B | -19% | +11% | 8% | 20.5× | 18.2% | +14.9% |
| Lpp LPP.WA | Poland | $13.0B | +36% | +15% | 13% | 17.4× | 17.5% | +24.1% |
| Aritzia ATZ.TO | Canada | $12.5B | +9% | +40% | 16% | 27.1× | 22.0% | +34.0% |
| Meesho MEESHO.NS | India | $11.4B | +17% | +34% | -9% | n/a | n/a | n/a |
| Tapestry TPR | United States | $26.4B | 0% | +14% | 24% | 15.8× | 9.0% | +6.9% |
| H&M Hennes & Mauritz HM-B.ST | Sweden | $29.1B | +12% | -4% | 9% | 22.3× | 4.5% | +4.1% |
| Victoria's Secret & VSXY | United States | $8.62B | +125% | +10% | 8% | 21.4× | 20.0% | +3.9% |
| Gap GAP | United States | $7.55B | -8% | +1% | 11% | 8.4× | -2.3% | +2.2% |
| Urban Outfitters URBN | United States | $7.26B | +18% | +11% | 10% | 13.1× | 6.9% | +12.3% |
| Abercrombie & Fitch ANF | United States | $6.35B | +57% | +5% | 14% | 12.1× | -2.7% | +11.0% |
| JD Sports Fashion JD..L | United Kingdom | $6.03B | +37% | +2% | 7% | 9.0× | 1.4% | +15.5% |
| SHIMAMURA 8227.T | Japan | $4.69B | +2% | +5% | 9% | 14.3× | -9.9% | +5.2% |
| Vishal Mega Mart VMM.NS | India | $4.67B | -25% | +18% | 9% | 43.8× | 32.3% | +19.4% |