Trent Limited, the flagship retail arm of the Tata Group, has announced its Trent Q1 FY26 Results, showcasing robust performance driven by strong revenue growth, improved profitability, and an aggressive store expansion strategy. Announced on August 6, 2025, these results reinforce Trent’s position as a dominant player in India’s competitive retail landscape, with its value-focused brand, Zudio, continuing to lead the charge.
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In this article, we break down the Trent Q1 FY26 Results, highlighting key financial metrics, the success of brands like Zudio and Westside, store expansion updates, and the company’s long-term growth plans.
Table of Contents
- Trent Q1 FY26 Results: Financial Highlights & Consistent Growth
- Brand-Wise Performance: The Pillars of Trent's Success
- Store Expansion in Trent Q1 FY26 Results: Zudio Leads the Way
- Strategic Initiatives and Future Outlook
- Trent Q1 FY26 Results: Analyst Perspectives & Market Reaction
- Conclusion
- FAQs
For the first quarter of FY26, Trent has once again delivered a strong financial performance, marking its 23rd consecutive quarter of profit after tax (PAT) growth. The results highlight the company's ability to not only expand its top line but also to maintain and improve its operational efficiency.
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Revenue from Operations: Consolidated revenue from operations for Q1 FY26 stood at a formidable ₹4883 crore, representing a significant 18.98% increase from ₹4104 crore in Q1 FY25. On a quarter-on-quarter (QoQ) basis, revenue surged by an even more impressive 15.81%, demonstrating strong demand and a rebound from the previous quarter.
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Profit After Tax (PAT): The company's consolidated net profit for the quarter was ₹424.70 crore, an 8.56% rise from ₹391.21 crore in the same quarter last year. This growth, while steady, was impacted by higher taxes and expenses related to its rapid expansion.
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Margins: Trent showed a healthy improvement in its operating margins. The operating EBIT margin for Q1 FY26 was 11.16%, up from 10.24% in Q1 FY25. This indicates that the company is effectively managing its operating costs even while scaling up its business. The net profit margin stood at 8.82%, showcasing the company's ability to translate top-line growth into bottom-line profits.
Trent's success is built on a multi-brand strategy that caters to diverse consumer segments. While Zudio and Westside are the primary growth engines, the company's other brands also play a crucial role.
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Zudio: The Growth Catalyst: Zudio, Trent's value fashion brand, continues to be the star performer. The brand has been a key driver of the company's overall revenue and profit growth, capitalising on the high demand for affordable and trendy fashion. Zudio's strategic focus on a no-frills, private-label model and a rapid expansion into Tier-2 and Tier-3 cities has been particularly successful.
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Westside: The Mid-Premium Anchor: Westside, the mid-premium department store chain, also delivered a steady performance. The brand's focus on a curated selection of fashion and home products, coupled with a strong emphasis on private labels, continues to resonate with its target audience. While its like-for-like (LFL) growth was in the low single digits, the brand's online sales through Westside.com and Tata Neu saw a robust 35% growth, contributing over 6% to Westside's total revenue.
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Star and Others: The company's food and grocery business under the Star brand also contributed to the overall performance. The Star chain's strategy of focusing on in-house brands, which now contribute 73% of its revenue, is a key element of its long-term growth plan. Trent also continues to explore new categories, such as beauty products under 'Zudio Beauty' and lab-grown diamonds with the brand 'Pome'.
Trent's growth strategy is heavily reliant on an aggressive and well-executed store expansion plan, with Zudio at the forefront.
| Brand |
Stores added in Q1 FY26 |
Total stores |
| Zudio |
11 |
766 |
| Westside |
1 |
248 |
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Total Store Footprint: As of June 30, 2025, Trent's total store count across all its formats stood at 1,043, spread across 242 cities.
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Zudio's Explosive Growth: During Q1 FY26, Trent added 11 Zudio stores. Zudio's expansion has been particularly impressive, with the brand operating 766 stores across 235 cities, including two stores in the United Arab Emirates (UAE). This rapid expansion reflects the brand's immense popularity and its ability to tap into the high demand for affordable fashion across India's micro-markets.
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Westside's Strategic Expansion: During Q1 FY26, Trent added 1 Westside store. While Westside's store additions have been more measured, the brand is strategically expanding its presence in key urban markets. During Q1 FY26, it took its total count to 248 stores across 86 cities. The company is also consolidating underperforming stores to optimise its physical footprint and improve profitability.
Trent's strategic vision extends beyond its current performance, with a clear roadmap for future growth.
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Sustaining Growth Momentum: The company aims for a long-term revenue compounded annual growth rate (CAGR) of approximately 25%, driven by continued store additions and a focus on operational efficiency.
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Expanding into New Categories: Trent is actively diversifying its portfolio by expanding into emerging categories like beauty, personal care, and home goods. The recent launch of its new youth fashion label, 'Burnt Toast', demonstrates its focus on capturing new and dynamic consumer segments.
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Strengthening Omnichannel Presence: The company is investing in technology and automation to enhance its direct-to-customer (D2C) and online channels. The strong growth in Westside's online sales, particularly through Tata Neu, highlights the success of this omnichannel strategy.
Following the Q1 FY26 results, Trent's stock initially experienced some volatility due to profit booking but received a positive long-term outlook from brokerage firms. Analysts largely maintained 'Buy' or 'Add' ratings, with upgraded target prices, citing the company's strong fundamentals and robust growth prospects. The consensus is that Trent's aggressive store expansion, particularly with Zudio, and its strategic diversification into new categories, will continue to drive strong financial performance in the coming quarters.
Trent Limited's Q1 FY26 results are a powerful testament to its robust business model and effective management. The company's ability to deliver strong revenue and profit growth, while simultaneously pursuing a high-velocity store expansion strategy, is a rare feat in the retail sector. With Zudio leading the charge and a clear strategic roadmap for future growth, Trent is not just navigating India's retail landscape; it is actively shaping it. The company's commitment to both financial growth and strategic expansion positions it as a key player to watch for investors and industry observers alike.
Q1: What were the key financial highlights of Trent's Q1 FY26 results?
Trent's Q1 FY26 results were marked by an 18.6% YoY growth in revenue to ₹4,924.07 crore and a net profit of ₹424.70 crore, up 8.6% YoY. The company also improved its operating EBIT margin to 11.4%, showcasing enhanced operational efficiency.
Q2: Which brand is the main growth driver for Trent Limited?
Trent's value fashion brand, Zudio, is the main growth driver. Its success is fueled by a rapid store expansion strategy and high demand for its affordable and trendy clothing across India's urban and rural markets.
Q3: How many new stores did Trent open in Q1 FY26?
In Q1 FY26, Trent continued its aggressive expansion, particularly with its Zudio brand. As of June 30, 2025, the company had a total of 1,043 stores, with Zudio alone having 766 stores.
Q4: How did Trent's Westside brand perform in Q1 FY26?
Trent's mid-premium brand, Westside, delivered a steady performance. While its like-for-like growth was in the low single digits, its online sales, including through Tata Neu, grew by a strong 35%, contributing over 6% to its total revenue.
Q5: What is the future outlook for Trent Limited?
The future outlook for Trent is highly positive. The company aims for a long-term revenue CAGR of 25%, driven by continued store expansion, especially in Tier-2 and Tier-3 cities, and a strategic focus on diversifying into new product categories like beauty and personal care.