Overview

• Trent reported standalone September-quarter revenue of Rs 5,002 crore, up 17% year on year, with first-half FY26 revenue rising 19% to Rs 10,063 crore.
• The quarterly pace is the slowest since March 2021 and falls short of the company’s 25% medium-term growth target.
• The retailer added 53 stores in Q2, including 40 Zudio and 13 Westside, taking the network to 806 Zudio, 261 Westside and 34 other lifestyle concept stores as of Sept. 30.
• Shares closed lower after the update, ending down 0.9% at Rs 4,771.15 on the BSE following intraday weakness.
• Broker data show a majority of buys with a consensus target implying about 27% upside, even as Equirus downgraded the stock to Reduce with a Rs 4,474 target citing slowing growth and likely valuation compression.