Trent Q4 FY26 PAT Jumps 33%, Bonus Issue Approved; Shares Gain

Mumbai, April 22: Trent Ltd on Wednesday reported consolidated numbers for the fourth quarter and full year ended March 31, 2026. The Tata Group’s speciality retail arm, parent to Westside and Zudio supermarkets, concluded what it called a year of “encouraging” performances with its typically resilience through the unusual macroeconomic and geopolitical environment.

Profit After Tax

Consolidated profit after tax in Q4 FY26 rose 33% to ₹413 crore compared to Q4 FY25. Driving strong bottom-line performance is Trent’s improving operating leverage, as its rapidly expanding Zudio and Westside formats start to realize meaningful scale efficiencies. Operating EBIT margin for the quarter improved to 11.5% versus 9.7% in Q4 FY25 — expanding by 180 basis points year-on-year, Trent’s profitability metrics continue to improve even as it continues to expand aggressively into new stores and cities.

Bonus Issue

The Board approved a bonus issue of 1 equity share for every 2 equity shares held by shareholders. In effect, shareholders will receive 1 free share for every 2 shares held, subject to existing shareholder approval. There will be no cash-out for shareholders as a result of this bonus issue. A bonus issue effectively triples the share count and can often be used to make a stock more affordable, as Trent has done here while signalling that the Board believes the company’s current earnings power is sustainable and well deserved.

Revenue

Consolidated revenue from operations grew 19% year-on-year to ₹5,028 crore on robust like-for-like sales growth and steady momentum of new store openings. The company opened 23 Westside and 109 Zudio stores during the quarter, entering 47 new cities — including 2 stores each in Zudio UAE — and consolidated 8 Westside and 14 Zudio stores. Emerging categories such as beauty & personal care, innerwear and footwear are now consistently contributing over 21% of revenues, while online sales at Westside grew 25% during Q4 FY26 and accounted for over 6% of Westside revenues. Trent now has a store portfolio of over 1,250 large-box fashion outlets across 321 cities with a total mall space of over 17.7 million sq.ft. as of March 31, 2026.

Consolidated Operating EBITDA in Q4 FY26 grew 44% year-on-year to ₹653 crore — headline-statements as Trent continues to comfortably outpace revenue growth thanks to the high operating leverage inherent in its asset-light, fast-growing retail business. Gross margin profiles for both Westside and Zudio held steady from the previous quarter, indicating Trent’s pricing power and merchandise sourcing strategies continue to hold strong even at scale.

Consolidated Performance FY26

Consolidated revenue from operations for FY26 grew 17% over the previous year to ₹20,074 crore. While merchandise revenue grew by 19% on a standalone basis for the full year. Consolidated Operating EBITDA grew 25% to ₹2,702 crore for FY26, while consolidated PAT grew 13% to ₹1,741 crore adjusted for labour code impact compared to the previous financial year. Trent opened 60 Westside and 212 Zudio stores during the year, entering 218 new cities (including 4 stores each at Zudio UAE) and consolidated 8 Westside and 14 Zudio stores during the year. This takes Trent’s store portfolio to 300 Westside stores, 963 Zudio stores and 23 other lifestyle concept stores.

Chairman Noel N Tata said that the business continued to show encouraging performance while dealing with macroeconomic headwinds, and that it remains on course to build a portfolio of trusted brands which will cater to the vast opportunity in the lifestyle space.

Result Day Trading

Trent stock had an interesting result day on Wednesday. Trent shares surged to a session high of around ₹4,476 at about 3 pm before drifting into the closing bell, after jumping as soon as the markets opened following the strong quarterly results and the bonus issue news that the company announced with its results. The session low of around ₹4,341 was witnessed at around 10: 30 am when initial profits came in and dragged the stock below its previous close. The last traded price on Wednesday ended at around ₹4,425, up by around ₹35 or about 0.8% from the previous closing price of around ₹4,390. The result day gain was quite resilient given the broader market movement and shows investors had little complaint against either the earnings beat or the capital allocation action.

Week in Charts

Taking a wider lens to Trent’s five-day chart. The stock started the period at around ₹3,971 on April 15 before jumping to around ₹4,093 on April 16 — a single-session gain of just under 3%. It then dipped slightly to around ₹4,101 on April 17, after which it began to resume its uptrend to ₹4,235 on April 20 and ₹4,390 at Tuesday’s close on April 21. Adding to the gains on Wednesday with a result-day close of around ₹4,425 further pushed the rally. The total five-session gain from April 15 to April 22 works out to approximately 11.4% for Trent — making it one of the NSE’s top gainers for the period and signaling increasing investor confidence surrounding and following the company’s robust quarterly and yearly results.

Sources:

• https://nsearchives.nseindia.com/corporate/TRENT_22042026161303_PressRelease22042026.pdf
• https://www.nseindia.com/get-quote/equity/TRENT/Trent-Limited