Trent Ltd

About [ edit ]

Trent is engaged in retailing of apparels, footwear, accessories, toys, games, food, grocery & non food products. It operates through Westside, Zudio, Star-Hypermarket, Landmark, Booker Wholesale and ZARA retail formats. Westside - offers apparel, footwear and accessories for men, women and children, along with furnishings, decor and a range of home accessories.(Source : 202003 Annual Report Page No:210)

  • Market Cap 27,131 Cr.
  • Current Price 763
  • High / Low 945 / 401
  • Stock P/E
  • Book Value 65.1
  • Dividend Yield 0.13 %
  • ROCE 1.79 %
  • ROE -6.18 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 19.64%

Cons

  • Stock is trading at 11.73 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.99% over past five years.
  • Company has a low return on equity of 1.24% for last 3 years.
  • Earnings include an other income of Rs.200.59 Cr.

Peer comparison

Sector: Retail Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
615 641 680 694 800 855 988 843 248 585 854 906
544 591 609 678 637 738 821 794 411 601 682 801
Operating Profit 70 50 71 16 163 117 168 49 -163 -16 171 105
OPM % 11% 8% 10% 2% 20% 14% 17% 6% -65% -3% 20% 12%
Other Income 9 13 18 10 24 43 51 43 55 36 45 67
Interest 7 10 9 10 61 61 61 62 60 60 64 64
Depreciation 12 12 13 15 56 61 63 67 64 63 63 68
Profit before tax 60 41 68 0 69 38 94 -37 -232 -103 90 40
Tax % 40% 48% 38% 10,500% 48% 55% 48% 109% 21% 24% 29% 56%
Net Profit 36 21 44 -4 38 19 54 13 -178 -72 74 29
EPS in Rs 1.08 0.64 1.33 -0.13 1.13 0.52 1.52 0.36 -4.99 -2.01 2.08 0.82

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,052 1,511 1,845 2,132 2,333 2,284 1,686 1,812 2,347 2,630 3,486 2,593
1,047 1,489 1,900 2,138 2,323 2,244 1,587 1,684 2,142 2,398 2,955 2,492
Operating Profit 5 22 -55 -6 10 41 100 128 205 233 531 101
OPM % 1% 1% -3% -0% 0% 2% 6% 7% 9% 9% 15% 4%
Other Income 41 37 74 69 71 256 77 87 31 38 144 201
Interest 15 19 22 29 26 22 48 46 44 51 263 249
Depreciation 22 32 41 45 54 75 39 41 46 52 247 257
Profit before tax 9 8 -44 -10 1 200 90 128 147 168 165 -205
Tax % 84% 70% -7% -262% 1,357% 35% 39% 34% 41% 44% 36% 12%
Net Profit 2 7 -38 -27 -19 129 55 85 87 97 123 -146
EPS in Rs 0.08 0.37 -1.39 -0.81 -0.56 3.89 1.66 2.55 2.62 2.92 3.45 -4.11
Dividend Payout % 835% 201% -47% -87% -125% 26% 54% 39% 44% 45% 29% -15%
Compounded Sales Growth
10 Years:6%
5 Years:9%
3 Years:3%
TTM:-26%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-218%
Stock Price CAGR
10 Years:23%
5 Years:34%
3 Years:31%
1 Year:70%
Return on Equity
10 Years:2%
5 Years:3%
3 Years:1%
Last Year:-6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
27 36 39 40 33 33 33 33 33 33 36 36
Reserves 566 960 1,125 1,198 958 1,389 1,431 1,514 1,562 1,613 2,352 2,277
Borrowings 264 302 301 336 332 267 400 392 391 494 300 0
327 501 561 642 614 518 292 283 349 418 2,819 3,411
Total Liabilities 1,177 1,782 2,014 2,209 1,936 2,207 2,157 2,222 2,336 2,559 5,507 5,724
448 652 746 843 720 668 477 549 613 662 2,738 3,054
CWIP 33 47 73 106 138 92 55 5 10 87 23 108
Investments 181 135 225 317 300 740 1,067 1,080 1,023 883 1,515 1,487
515 947 970 943 778 706 558 588 691 927 1,230 1,075
Total Assets 1,177 1,782 2,014 2,209 1,936 2,207 2,157 2,222 2,336 2,559 5,507 5,724

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-8 -54 -90 31 -46 -10 109 102 77 21 355 374
-176 -137 -137 -276 -48 -306 -98 -44 -4 -37 -812 16
208 471 207 147 -50 310 -13 -51 -74 37 464 -372
Net Cash Flow 24 280 -20 -97 -145 -6 -2 7 -1 21 7 18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 2% 2% -3% -0% 1% 4% 7% 9% 10% 11% 17% 2%
Debtor Days 5 6 4 4 3 3 3 1 2 2 2 3
Inventory Turnover 3.60 3.98 3.95 4.32 4.43 4.03 2.77 3.19 3.34 3.26 3.53 2.96

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
32.61 32.61 32.61 32.61 32.61 37.01 37.01 37.01 37.01 37.01 37.01 37.01
23.95 23.72 23.14 22.19 22.13 20.98 20.90 21.18 20.86 23.13 29.41 29.90
15.13 15.09 15.75 16.90 17.14 15.89 15.86 15.59 15.93 14.63 10.03 10.27
28.31 28.57 28.50 28.29 28.11 26.12 26.23 26.22 26.20 25.24 23.55 22.83

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