TRENT

Trent posted robust 36% YoY revenue growth in Q1 FY26, led by Zudio and Westside expansion. Same-store sales grew 18%, reflecting strong consumer appetite. Margins at 14% remain healthy. The company continues to expand aggressively into Tier-2 and Tier-3 cities. At ~90x FY26 EPS, valuations are rich but justified by growth consistency. Trent remains one of India’s strongest retail growth stories.