Trent Q2FY26 Revenue Rises 17% to ₹5,002 Crore

The Company announced its financial results for the quarter and half year ended September 30, 2025 (standalone and consolidated).

Standalone Results

• During the quarter, we launched our new youth-focused fashion brand, “Burnt Toast”, with a range of bold apparel and accessories, aimed at inspiring young, dynamic individuals to express themselves. The initial customer response has been positive and encouraging.

• We now operate a significant portfolio of over 1000 “large-box” fashion stores, with presence now across 251 cities. In Q2FY26 we opened 19 Westside and 44 Zudio stores (including 1 store in the UAE) and consolidated 6 Westside & 4 Zudio stores. As of 30th September, our store portfolio included 261 Westside, 806 Zudio (including 3 stores in the UAE) and 34 stores across other lifestyle concepts. As on 30th September, we operated with a footprint of over 14 million sqft. across our fashion brands.  

• We believe given our approach with respect to merchandise sourcing, price architecture, distribution and our disciplines around inventory provisioning, the full year results are more representative of the health of the business. The gross margin profile of Westside and Zudio remains consistent. Operating EBIT** margin for Q2FY26 was 10.2% (11.0% for Q2FY25).

* Operating EBITDA excludes other income & lease related Ind AS impact.

** Operating EBIT % is on net revenue excluding other operating income and excludes other income & lease related Ind AS    impact

Consolidated Results

• Given the accounting standards, our consolidated revenues do not include revenues of the Trent Hypermarket business. However, the reported results include the proportionate share of profitability of this venture and is accounted based on the equity method.

• The Star business consists of 77 stores including the addition of 3 stores and closure of 4 stores during the half year. We are pursuing multiple interventions including on the technology front aimed at driving differentiation and convenience of our customer proposition.

• Competitive price points, strong availability, differentiated fresh offerings coupled with a growing assortment of own branded products differentiate Star proposition and help mitigate competitive trends in this space. 

An investor presentation is also enclosed with this release.

Chairman’s Message 

Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Limited said, “We remain focused on portfolio growth, elevating our products and enhancing store experience for our customers. Reduction in GST rates is a welcome step and over time is likely to augur well for our product categories. The business registered steady performance during the quarter.

We have consistently delivered a differentiated consumer proposition that appeals to a wider audience across diverse markets. Notwithstanding continuing competitive intensity and interim trends, we believe an unwavering focus on being relevant to our customers and building resilience with our business model choices will continue to hold us in good stead. We are excited and remain on track to build a sizable and scalable pure play direct-to-customer business across customer segments in the context of the market size and opportunity. 

In our Star business, we continue to apply Trent’s playbook and the contribution of our own brands is now trending over 73% of revenues. The opportunity in the food space for the Star proposition is exciting at the same time it is intensely competitive. We remain convinced that this business is well poised to deliver growing consumer value in the years ahead.”