Trent Annual Report Key Takeaways - Well Placed To Benefit From Demand Revival: ICICI Direct
Shirts are displayed on mannequins in the menswear department of a Westside store operated by Trent Ltd., the retail unit of Tata Group, in Mumbai, India. (Photographer: Kanishka Sonthalia/Bloomberg)

Trent Annual Report Key Takeaways - Well Placed To Benefit From Demand Revival: ICICI Direct


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Trent Ltd. FY21 annual report key takeaways:

1. Zudio reported industry best performance in FY21 despite pandemic induced challenges. The revenue de-growth was restricted to mere 5% (despite 80% washout in Q1 FY21) on account of robust store addition pace and lower presence in malls,

2. Westside lagged revenue recovery with recovery rate gradually improving to 77% in Q4 FY21 (on adjusted basis),

3. significant cost saving measures (rental, employee expenses down 20%, 19%, respectively) resulted in the company reporting positive standalone Ebitda (pre-Indian-accounting standard -116) in FY21,

4. Star Bazar reported an improved operational performance with sales de-growth restricted to 4% YoY and profit before losses narrowing down to Rs 92 crore versus Rs 155 crore in FY20,

Click on the attachment to read the full report:

ICICI Direct Trent Company Update.pdf


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