Trent Ltd

Trent Ltd

₹ 3,948 1.88%
28 Mar - close price
About

Trent Ltd is engaged in retailing of apparels, footwear, accessories, toys, games, food, grocery & non food products through various of its retail formats/ concepts.[1]

Key Points

Retail Format Stores
Presently, the company operates ~400 stores under various retail concepts:-[1]

  • Market Cap 1,40,346 Cr.
  • Current Price 3,948
  • High / Low 4,244 / 1,306
  • Stock P/E 158
  • Book Value 96.8
  • Dividend Yield 0.06 %
  • ROCE 13.0 %
  • ROE 15.3 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 28.9% CAGR over last 5 years
  • Company's median sales growth is 20.4% of last 10 years
  • Company's working capital requirements have reduced from 51.8 days to 40.0 days

Cons

  • Stock is trading at 40.8 times its book value
  • Company has a low return on equity of 8.05% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Retail Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
725 774 327 1,020 1,348 1,185 1,653 1,814 2,172 2,077 2,536 2,891 3,312
545 637 359 799 1,056 1,033 1,349 1,546 1,836 1,865 2,171 2,430 2,689
Operating Profit 180 137 -32 221 292 152 304 268 336 212 366 461 623
OPM % 25% 18% -10% 22% 22% 13% 18% 15% 15% 10% 14% 16% 19%
43 66 52 82 30 102 42 168 73 129 50 151 77
Interest 61 62 69 73 73 79 92 88 88 88 89 92 96
Depreciation 58 62 62 67 73 81 120 104 111 128 133 145 158
Profit before tax 104 79 -110 164 175 95 133 243 210 125 193 375 447
Tax % 24% 28% 24% 23% 24% 21% 23% 24% 23% 16% 23% 23% 23%
80 57 -84 126 133 75 103 186 161 105 148 290 344
EPS in Rs 2.24 1.60 -2.36 3.53 3.74 2.11 2.89 5.23 4.53 2.96 4.17 8.15 9.67
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
822 936 1,242 1,358 1,583 1,717 2,066 2,532 3,178 2,048 3,881 7,715 10,817
827 878 1,247 1,289 1,476 1,577 1,836 2,271 2,601 1,834 3,230 6,560 9,155
Operating Profit -5 58 -5 69 107 139 230 260 577 214 651 1,155 1,662
OPM % -1% 6% -0% 5% 7% 8% 11% 10% 18% 10% 17% 15% 15%
79 54 115 127 84 78 26 25 154 197 265 412 407
Interest 13 15 15 17 47 45 43 50 254 247 310 393 366
Depreciation 16 17 26 40 35 38 42 46 231 236 283 463 564
Profit before tax 45 81 68 139 109 135 172 189 246 -72 323 711 1,139
Tax % -6% 23% 21% 28% 21% 21% 32% 33% 37% 29% 23% 22%
47 62 54 100 87 107 117 127 155 -51 250 555 887
EPS in Rs 1.73 1.87 1.63 3.01 2.60 3.22 3.51 3.84 4.35 -1.44 7.02 15.60 24.95
Dividend Payout % 37% 37% 43% 33% 35% 31% 33% 34% 23% -42% 24% 14%
Compounded Sales Growth
10 Years: 23%
5 Years: 30%
3 Years: 34%
TTM: 59%
Compounded Profit Growth
10 Years: 26%
5 Years: 29%
3 Years: 46%
TTM: 69%
Stock Price CAGR
10 Years: 44%
5 Years: 61%
3 Years: 73%
1 Year: 196%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 8%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 27 33 33 33 33 33 33 33 36 36 36 36 36
Reserves 1,315 1,499 1,283 1,339 1,400 1,508 1,584 1,664 2,463 2,480 2,684 3,044 3,406
Preference Capital 11 7 0 0 0 0 0 0 0 0 0 0
240 225 225 225 396 392 391 494 300 2,858 4,581 4,319 4,695
304 320 361 365 254 255 306 370 2,596 333 511 923 1,073
Total Liabilities 1,887 2,077 1,902 1,962 2,083 2,188 2,314 2,561 5,395 5,707 7,812 8,321 9,210
284 283 343 388 416 490 578 627 2,618 2,923 4,508 4,366 4,832
CWIP 21 26 36 46 54 5 10 85 23 34 45 42 106
Investments 705 1,040 862 1,037 1,086 1,113 1,052 941 1,607 1,729 1,724 1,648 1,786
877 728 661 491 528 579 675 907 1,147 1,021 1,535 2,265 2,486
Total Assets 1,887 2,077 1,902 1,962 2,083 2,188 2,314 2,561 5,395 5,707 7,812 8,321 9,210

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-53 41 -8 26 108 64 103 28 369 324 149 663
-154 -273 -57 4 -89 -11 -30 -46 -757 -39 -6 -143
176 106 -45 -34 -21 -47 -74 38 382 -262 -136 -515
Net Cash Flow -31 -126 -110 -4 -2 6 -1 21 -7 23 7 5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 2 1 1 1 0 1 2 2 2 4 2 1
Inventory Days 147 138 147 134 137 135 129 145 133 140 158 116
Days Payable 87 89 91 76 76 71 74 68 58 78 60 56
Cash Conversion Cycle 61 50 57 58 62 65 57 79 77 66 99 62
Working Capital Days 63 67 68 -24 -30 17 43 39 45 58 58 40
ROCE % 3% 4% 3% 4% 9% 8% 12% 12% 19% 4% 10% 13%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
37.01% 37.01% 37.01% 37.01% 37.01% 37.01% 37.01% 37.01% 37.01% 37.01% 37.01% 37.01%
29.90% 30.28% 30.13% 28.94% 28.32% 26.82% 25.92% 24.76% 24.43% 25.01% 26.17% 25.91%
10.27% 10.68% 11.15% 12.47% 13.43% 14.58% 15.16% 16.11% 16.10% 15.81% 14.89% 14.82%
22.83% 22.03% 21.71% 21.58% 21.24% 21.59% 21.90% 22.12% 22.45% 22.17% 21.92% 22.26%
No. of Shareholders 84,45088,52892,5161,06,8101,12,4601,24,2981,37,1231,32,7701,36,1681,30,4711,49,0101,75,241

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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