Trent Ltd, incorporated in the year 1952, is a Large Cap company with a market cap of Rs 27664.03 Crore, operating in Retail sector.
Trent’s key Products/Revenue Segments include Readymade Garments, Other Operating Revenue and Rent for the year ending 31-Mar-2019.
Investment Rationale
While Edelweiss Securities adjusts its FY22 estimates for second wave (EBITDA cut by 7 per cent), the growth outlook remains robust (added 46 stores in FY21 with 34 ready to launch) and hence it raises its standalone target multiple (Westside+Zudio) to 40x (from 35x) Sept 2022 EV/EBITDA. Edelweiss maintains buy call with a target price of Rs 899 (Rs 787 earlier).
Financials
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 972.99 Crore, up 8.60 per cent from last quarter’s Total Income of Rs 895.95 Crore and up 10.50 per cent from last year same quarter’s Total Income of Rs 880.54 Crore. Company has reported a net profit after tax of Rs 36.65 Crore in the latest quarter.
Promoter/FII Holdings
Promoters held 37 per cent stake in the company as of Dec 30, 2020, while FIIs held 29.4 per cent, DIIs 10 per cent and public and others 23.6 per cent.
