Trent Ltd. Q2 FY26 Financial Results and Operational Update

Trent Ltd. has reported a robust performance for the second quarter ended September 30, 2025 (Q2 FY26), demonstrating sustained growth and significant operational leverage. Key Financial Highlights (YoY) Revenue from Operations: Increased 15.9% to ₹4,817 crore, compared to ₹4,156 crore in the corresponding quarter last year. EBITDA: Grew 26.5% to ₹816.9 crore, up from ₹645.9 crore in Q2 FY25. EBITDA Margin: Achieved a 150-basis-point expansion to 17.0%, compared to 15.5% last year, reflecting enhanced operational efficiency. Net Profit: Rose 11.3% year-on-year to ₹373 crore from ₹335 crore. Strategic & Operational Performance The company's growth was driven by the strong performance of its flagship retail concepts, Westside and Zudio. Aggressive Footprint Expansion: Trent continues its rapid store expansion, crossing the 1,000-store milestone. As of September 30, the portfolio includes 261 Westside, 806 Zudio (including 3 in the UAE), and 34 other lifestyle stores, spanning over 14 million sq. ft. across 251 cities. Q2 Store Additions: The company executed a net addition of 13 Westside and 40 Zudio stores during the quarter. New Brand Launch: Trent introduced "Burnt Toast," a new youth-focused fashion label. Management reports the initial customer response has been positive and encouraging. Management Outlook & Corporate Actions Chairman Noel N Tata affirmed the company's focus on portfolio growth, product elevation, and enhancing in-store experience. He noted the recent GST rate cut as a positive long-term driver for the company's categories and expressed confidence in the business model's resilience against competitive intensity. Separately, Trent's board has approved participation in a buyback offer from its associate company, Inditex Trent Retail India Pvt. Ltd. (ITRIPL - the Zara JV). Trent will tender its 94,900 equity shares in ITRIPL at a price of ₹15,421.85 per share.