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TRENT
Large Cap | Retail
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About Trent
History
Trent Ltd. is a retail company in India with popular brands like Westside, Landmark, Zudio, and Utsa. They offer a variety of products, including apparel, footwear, accessories, toys, and games. Trent Ltd. started as Lakme Ltd. in 1952, later transitioning into retail after divesting their cosmetics business. In 1983, Trent Ltd was listed on the Bombay Stock Exchange. In 1998, Westside was established, and since then, the company has expanded its presence in various cities. During the year 2002-03, Trent has grown, acquiring Fiora Services Ltd. and Satnam Developers and Finance Pvt Ltd. They ventured into hypermarkets with Star India Bazaar in 2004. The company acquired Landmark Ltd. in 2005, leading to the expansion of Landmark stores across the country. In 2008-09, Trent opened new Westside and Sisley stores. In 2011, they signed an MOU with the Inditex Group for Massimo Dutti stores. In 2014, Trent announced an investment by Tesco in Trent Hypermarket Ltd. In 2015, they launched Sport Zone stores in India through a partnership with the largest chain of sports shops in Portugal. The company underwent a share sub-division in 2016 and divested its stake in Westland Publications Limited to Amazon Eurasia Holdings S.A R.L. In 2017, Trent acquired a majority stake in Westland Limited from Amazon. In 2017, Trent entered into an agreement to acquire the value fashion apparel business of its joint venture, Trent Hypermarket Private Limited. In 2018, Trent's subsidiary, Fiora Hypermarket Limited, incorporated Fiora Online Limited for retailing business. In FY 2017-18, Trent focused on expanding exclusive brands like Wunderlove and Studiowest. They added 33 new stores in FY 2019 and 11 new stores in FY 2020. In FY 2022, Trent added 36 new stores, and in FY 2023, they added 20 new stores, demonstrating continuous growth and expansion.Business Segments
Trent Ltd. operates in various business segments, each catering to different consumer needs and preferences.- Westside: Westside stands as Trent's lead fashion brand, boasting over 22 in-house labels covering a diverse range of products. From women's wear, men's wear, and kid's wear to footwear, lingerie, cosmetics, perfumes, accessories, and home furniture, Westside offers a comprehensive shopping experience with a focus on unique, in-house designed fashion.
- Zudio: Zudio is Trent's brand that is rapidly gaining popularity across India. Known for its affordable yet stylish fashion, Zudio creates everything in-house. Embracing a trendy and spirited ethos, Zudio attracts fashion-forward individuals, forming vibrant communities and providing exciting opportunities in the process.
- Star Bazaar: Trent entered the hypermarket business in 2004 with Star Bazaar. Offering a modern and clean shopping environment, Star Bazaar simplifies daily grocery and household shopping. With a focus on freshness and convenience, it caters to food enthusiasts and traders alike, making everyday shopping an enjoyable experience.
- Utsa-Kids: Utsa is Trent's modern Indian lifestyle destination, specialising in ethnic apparel, beauty products, and accessories. Utsa offers a unique and contemporary take on traditional fashion for those looking to express their style in a culturally rich way.
- Booker Wholesale: As a subsidiary of the Booker Group, Booker Wholesale in India operates on the Cash and Carry model. It provides branded and private label goods to a diverse customer base, including Kirana Shops, provision stores, food stalls, restaurants, and hotels.
- Misbu: Misbu is a space dedicated to beauty and fashion accessories, catering to individuals who appreciate trendy, playful, bold, and upbeat styles. It is designed for those who love to embellish the ordinary, offering a unique shopping experience for those with a flair for fashion and beauty.
- Samoh: Samoh focuses on elegant, expressive, and modern silhouettes that emphasise versatility. Samoh aims to provide a luxurious experience for customers shopping for special moments in life.
- Trent Hypermarket Private Limited: It is a joint venture between Trent Limited and Tesco Plc UK, operating a chain of hypermarkets and supermarkets across India. THPL offers a wide range of products, including groceries, fresh produce, household items, apparel, home décor, and health and beauty products. It caters to a wide range of customers, including families, individuals, and small businesses.
- Booker India Limited: This is a wholesale cash and carry business acquired by Trent Limited in 2018. BIL caters to a diverse customer base, including Kirana stores, restaurants, hotels, and small businesses. It offers a wide range of products, including groceries, fresh produce, household items, and other essentials, at competitive prices.
- Nahar Retail Trading Services Limited: Nahar is a subsidiary of Trent Limited that operates a chain of retail stores specialising in home furnishings and décor. Nahar offers a curated selection of products, including furniture, lighting, textiles, and home accessories. It caters to discerning customers seeking stylish and unique home décor solutions.
Key Personnel
Mr. Noel N Tata, Chairman The current chairman of Trent Limited is Mr Noel N Tata. He served as the Managing Director for over 11 years before becoming Vice Chairman in 2012 and later Chairman in 2014. Under his leadership, Trent expanded to over 330 stores across formats like Westside, Landmark, Zudio, Star Bazaar, and joint ventures with Inditex for Zara and Massimo Dutti. Mr. Tata is also Chairman of Voltas, Chairman of Tata Investment Corporation, and Vice Chairman of Titan Industries. He holds positions on the boards of Kansai Nerolac Paints and Smiths Plc and serves on various committees.Corporate Actions
Face Value Split- On September 14, 2016, Trent Limited underwent a face value split, reducing it from ₹10 to ₹1 per share.
Parent Organisation
Tata
Managing Director
N N Tata
Founded
1952
NSE Symbol
TRENT
Community Discussion
A
AngelOne
30th April 2024
How Has Trent Captured The Apparel Market With Zudio?
An analysis of Zudio’s contribution to Trent Ltd’s robust Q4 results of a 51% revenue jump, 16x net profit surge and its shares at an all-time high.
Trent Ltd is involved in retailing a diverse range of products including apparel, footwear, accessories, toys, games, food, grocery, and non-food items through its various retail outlets such as Westside, Zudio, Zara, Tata Star Bazaar, and others.
Zudio’s model
Tata’s Trent Ltd has outperformed its competitors in the Indian apparel market, the swift expansion of its Zudio stores, catering to budget-conscious youth, has been a significant driver, their strategy to offer a wide range of affordable products, particularly priced below Rs 999, seems to have resonated with young customers. Trent’s success is attributed to its focus on expanding Zudio outlets nationwide with 549 outlets already in place.
Financials
Trent Limited, through consistent store growth and product diversification, has strengthened its market presence witnessing a significant increase in its quarterly results. In Q4FY24, Trent experienced a 51% y-o-y increase in revenue from operations, reaching Rs.3,297.70 crore compared to Rs.2,182.75 crore in Q4 FY 2022-23. Additionally, it achieved a consolidated net profit of Rs.712.09 crores, marking an increase of almost 16 times, an impressive 1,484% surge, compared to a profit of Rs.44.95 crore in the Q4 FY 2022-23, EBITDA increased to Rs.477 Crores from Rs.211 Crores, with an EBITDA margin of 15% from 10.2% on YoY Basis. The company’s Board has also proposed a dividend of 320%, or Rs.3.20 per equity share, subject to shareholder approval.
Metrics
Q4FY24
Q4FY23
Revenue from Operations (in crore)
Rs. 3,297.70
Rs. 2,182.75
Net Profit (in crore)
Rs. 712.09
Rs. 44.95
EBITDA (in crore)
Rs. 477
Rs. 211
EBITDA Margin
15%
10.2%
Impact on share price
Trent’s shares surged over 7% to reach a new all-time high of Rs.4,669.95, which came after the company announced its Q4 results. Trent’s shares opened at Rs.4,450.25, up from the previous close of Rs.4,351.45, and climbed by as much as 7.32% to hit a fresh record high.
Competitors
Although Reliance Industries and Aditya Birla have entered the budget apparel market as possible competitors, analysts predict minimal effect on Zudio’s growth. While Shoppers Stop, Aditya Birla Fashion and Retail, and V-Mart Retail exhibit varying store numbers, Zudio’s aggressive expansion has surged its overall count to 549, significantly covering the targeted consumers.
Conclusion
In conclusion, Zudio’s rapid expansion and offerings majorly drove Trent Limited’s outstanding financial performance this quarter. Revenue, net profit, and EBITDA surged due to the successful approach of expanding in the apparel market and otherwise as well. Analysts predict minimal competition impact, with Zudio’s continued contribution, Trent is poised to sustain growth and enhance market presence.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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Trent Ltd FAQs
What is the share price of Trent Ltd (TRENT) shares?
Trent Ltd (TRENT) share price as of July 26, 2024, on NSE is Rs 5378.65 (NSE) and Rs 5378.65 (BSE) on BSE.
Can I buy Trent Ltd (TRENT) from Angel One?
Yes, You can buy Trent Ltd (TRENT) shares by opening a Demat account with Angel One.
How do I buy Trent Ltd (TRENT) from Angel One?
Trent Ltd (TRENT) share can be bought through the following modes:
1. Direct investment: You can buy Trent Ltd (TRENT) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Trent Ltd (TRENT) shares.
1. Direct investment: You can buy Trent Ltd (TRENT) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Trent Ltd (TRENT) shares.
Does Zara brand belong to Trent?
Yes, Zara operates in India through its association with the Tata group firm, Trent Ltd.
Is Trent a Debt free Company?
No, Trent is not a debt free company.
What is the main business of Trent?
The main business of Trent is to serve as a retailer of apparel, accessories, footwear, and toys through flagship brands, namely Westside, Zudio, Landmark, and Star.
Who are the promoters of Trent?
The primary promoters of Trent include Tata Sons Private Limited, Tata Investment Corporation Limited, and Ewart Investments Limited.
What are the Subsidiaries that comes under Trent?
Some of the key subsidiaries that come under Trent are Booker India Limited (BIL) [previously known as Booker India Private Limited], Fiora Business Support Services Limited (FBSSL), Fiora Hypermarket Limited (FHL), Fiora Online Limited (FOL), and Nahar Retail Trading Services Limited (Nahar).
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