Trent shares crash 10% after Q1 update comes below estimates; revenue rises 19%

Shares of Tata Group’s apparel arm Trent crashed as much as 10% to their day's low of Rs 3,010 on the BSE on Tuesday after the retailer reported a 19% year-on-year increase in standalone revenue for the June quarter, supported by growth in its fashion retail business and continued store expansion.

The figure was below Street estimates. In a quarterly business update filed with the exchanges, the company said standalone revenue from operations, excluding GST, stood at Rs 5,666 crore in Q1FY27, up from Rs 4,781 crore in the corresponding quarter last year. Revenue from the sale of merchandise, excluding other operating income, also increased 19% during the quarter ended June 2026.

The company did not disclose profit figures as part of the update. It said the reported revenue numbers are subject to audit by its statutory auditors.


As of June 30, 2026, Trent's retail portfolio comprised 1,312 stores, including 301 Westside outlets, 982 Zudio stores and 29 stores across other lifestyle concepts. The Zudio network includes seven stores in the UAE.

During the June quarter, the company added one Westside store and 19 Zudio stores on a net basis.

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The latest business update reflects continued expansion of Trent's retail footprint alongside growth in revenue during the quarter. Investors have been closely tracking the company's ability to maintain its growth momentum amid a high base and a competitive fashion retail market.

Zudio continues to account for the larger share of Trent's store network. The value fashion chain offers apparel and lifestyle products, while Westside operates in the premium fashion segment. With 982 stores, Zudio's network is now more than three times the size of Westside's 301-store footprint.

Trent Q4 snapshot

The company reported a 26% growth in its consolidated net profit for the quarter ended March 31, 2026, at Rs 400 crore versus Rs 318 crore in the year-ago period. Revenue from operations in Q4 stood at Rs 5,028 crore, up 19% compared to Rs 4,216 crore in the corresponding quarter of the previous financial year.

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The company’s operating earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter under review stood at Rs 653 crore, marking a 44% increase. For FY26, EBITDA rose 25% to Rs 2,702 crore. EBITDA margins expanded to 18.4% versus expectations of 16.8%.

Trent share price performance

Shares of the company have gained over 23% in the past six months, though they remain down 9% over the last one year.

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