Trent (TRENT) Q2 25/26 earnings summary

Executive summary

• Achieved Q2 FY26 standalone revenue from operations of ₹4,724.06 crore, up 17% year-over-year, and consolidated revenue of ₹4,817.68 crore, up 16%.

• Standalone PAT for the quarter was ₹454.43 crore (+16%) and consolidated PAT was ₹376.86 crore (+11%).

• Store network expanded to 1,101 stores across 251 cities, including 2 in the UAE, with 19 new Westside and 44 new Zudio stores opened in Q2 FY26.

• Online revenues for Westside grew 56% year-over-year, now contributing over 6% of Westside revenues.

• Unaudited standalone and consolidated financial results for the quarter and six months ended 30th September 2025 were approved by the Board and reviewed by auditors with unmodified reports.

Financial highlights

• Standalone Op. EBITDA reached ₹575 crore (+16%), Op. EBIT ₹477 crore (+9%).

• Consolidated Op. EBITDA was ₹575 crore (+14%), Op. EBIT ₹470 crore (+17%).

• Standalone EPS for Q2 FY26 was ₹12.68, up from ₹11.89 in Q2 FY25; consolidated EPS was ₹10.60, up from ₹9.53 year-over-year.

• Standalone total comprehensive income for Q2 FY26 was ₹454.43 crore; consolidated total comprehensive income was ₹382.31 crore.

• Five-year revenue growth trend shows consistent increases from ₹1,020 crore in Q2 FY22 to ₹4,724 crore in Q2 FY26.

Outlook and guidance

• Focus on expanding reach in tier 2/3 and emerging metro catchments, with expectations of varying maturity and growth trajectories for new stores.

• Medium-term demand expected to benefit from GST regime changes and increased discretionary spending.

• Continued investment in technology and automation to drive productivity and manage operating leverage.

• The main business remains retailing/trading of merchandise, with all other activities incidental; no separate reportable segments.