AI Quick ReadShares of fashion retailer Trent, which operates apparel brands like Westside and Zudio, rallied up to 6% in early trade on Monday, April 6, following the March quarter (Q4) business update. The Tata group stock edged higher for the third day in a row, gaining a cummulative 13% during this period. It was also the best Nifty 50 gainer in today's trading session.
Trent share price rose as much as 5.8% to ₹3,759 even as the benchmark Nifty 50 traded marginally lower.
Trent, earlier today, announced a 20% year-on-year (YoY) growth in standalone revenue to ₹4,937 crore in Q4 FY26 from ₹4,106 crore in the same period a year ago. The growth matched the same pace as in Q1 after moderating during Q2 and Q3 and weighing heavily on Trent shares.
That said, the overall standalone figure was lower than ₹5,220 crore revenue posted in the preceding quarter of the ongoing fiscal year. Revenue from the sale of merchandise, excluding other operating income, rose by 21%.
For the full financial year (2025-26), Trent's revenue was higher by 18% YoY at ₹19,701 crore.
As of 31st March 2026, our portfolio of 1286 stores includes 300 Westside, 963 Zudio (including 6 in the UAE) and 23 stores across other lifestyle concepts, said Trent. During the quarter, it opened 22 Westside stores and 109 Zudio stores.
Trent’s revenue growth has decelerated over the past few quarters owing to weak LFL (in non-cluster stores) amid weak discretionary demand, rising competition in metro/tier 1 markets and its entry into lower-tier markets, which take time to reach desired productivity levels.
However, recent channel checks by brokerages suggest outperformance versus peers and easing cannibalisation impact on existing stores.
Brokerage ICICI Securities said that it has modelled revenue/EBITDA/PAT CAGR of 18%/22%/14% over FY25–28E. It also maintained 'ADD' with an unchanged target price of ₹4,100, as per SoTP valuation in a report on March 24.
Similarly, Motilal Oswal Financial Services also retained a 'Buy' rating with a revised target price of ₹4,350 (earlier ₹5,200), premised on ~40x FY28E pre-IND AS EBITDA in a report last month. Following the sharp correction, the stock now trades at ~32x FY28E pre-IND AS EBITDA (significantly below its past history but still at a premium to other Indian fashion retailers), said the brokerage.
On the technical front, too, Trent shares are showing signs of recovery.
"After a steep 47% correction over 41 weeks, Trent is showing early signs of structural recovery, backed by improving business momentum. Price has precisely tested the rising 10-week EMA near ₹3750, a key dynamic support, and witnessed a strong rebound — indicating demand absorption at lower levels. The broader trend remains corrective, but momentum is shifting as price attempts to reclaim short-term averages," said Anshul Jain, Head of Research at Lakshmishree.
A sustained move above the 10-week EMA can trigger a pullback rally towards the 20-week EMA at ₹3940, he opined, adding that volume expansion on up-moves will be critical to validate strength. "Failure to hold ₹3750 would negate the setup, reopening downside risk."
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Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.<br>
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