Trent Q4 FY26 Revenue Up 20% Profit Jumps 43% Bonus Shares Announced
The Company announced its financial results for the quarter and year ended March 31, 2026 (standalone and consolidated).
In cognisance of the compelling outlook over the medium term, the market opportunities, and the salience of the platform, the Board considered and approved a bonus issue of 1 equity share for every 2 equity shares held.
Standalone Results
Revenue from the sale of merchandise (excl. other operating income) grew by 21% in Q4FY26 and 19% in FY26.
- The company now operates a large portfolio of over 1,250 “large-box” fashion stores across 321 cities, including three in the UAE. In Q4 FY26, it opened 23 Westside and 109 Zudio stores (including two in the UAE), consolidated one Westside store, and entered 47 new cities. For the full year, it opened 60 Westside and 212 Zudio stores (including four in the UAE), while consolidating eight Westside and 14 Zudio stores. As of 31 March 2026, its total store portfolio stood at 300 Westside, 963 Zudio (including six in the UAE), and 23 stores under other lifestyle formats, with a total retail footprint of over 17.7 million sq. ft.
- The company said its full-year results better reflect overall performance, supported by its approach to sourcing, pricing, distribution, and inventory management. Gross margins for Westside and Zudio remained stable. Operating EBIT margin for Q4 FY26 stood at 11.5%, compared to 9.7% in Q4 FY25.
- Emerging categories such as beauty and personal care, innerwear, and footwear contributed over 21% of total revenue. Online sales through Westside and the Tata Neu platform continued to grow. In Q4 FY26, online revenue rose 25% and made up more than 6% of Westside’s total revenue.
- Westside’s online platform offers an omnichannel experience, similar to its physical stores, with consistent pricing, product range, and return policies. Among standalone brands, Westside continues to record some of the highest online volumes compared to peers in the Indian market.
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 are accounted for based on the equity method.
- The Star business consists of 84 stores, including the addition of 12 stores and the closure of 6 stores during the year ended March 31, 2026. It is pursuing multiple interventions, including on the technology front, aimed at driving differentiation and convenience of our customer proposition.
Chairman’s Message
Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Limited, said, “In FY26, the business delivered encouraging performance, while navigating multiple macroeconomic and geopolitical developments with resilience. We believe that the consumer sentiment will recover further in the coming months once the geopolitical environment settles down.
The Indian consumer continues to evolve with growing aspirations and increasing access to a diverse set of offerings. In this context, we believe, a differentiated customer proposition that builds on relevance and ubiquitous presence will continue to see much traction. We are still in the initial laps of our growth, and we remain committed to building out a portfolio of brands that address the significant market opportunity in the lifestyle space.
In our Star business, we continue to apply Trent’s playbook, and the contribution of our own brands and products is now trending over 73% of revenues. We recognise that the expansion program for Star stores has been slower vis-à-vis our expectations, and we are looking to accelerate this agenda in the coming years. We are also looking to make select commitments to retail real estate that allow Star to viably access dense catchments. The food and grocery opportunity is significant, and the Star model is differentiated. We remain convinced that this business is well poised to deliver growing consumer value in the years ahead.”
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