30-Apr-2025, 06:31
On consolidated basisQuarter ended March 2025 compared with Quarter ended March 2024.
Net sales (including other operating income) of Trent has increased 27.88% to Rs 4216.94 crore.
Operating profit margin has jumped from 14.24% to 15.46%, leading to 38.83% rise in operating profit to Rs 652.01 crore. Purchase of finished goods cost rose from 58.79% to 60.51%. Employee cost decreased from 9.42% to 7.61%. Other expenses fell from 18.45% to 17.25%. Selling and administration expenses fell from 7.93% to 6.70%. Other income fell 3.29% to Rs 74.34 crore. PBIDT rose 32.91% to Rs 726.35 crore. Provision for interest rose 15.30% to Rs 37.52 crore. Loan funds rose to Rs 2,237.19 crore as of 31 March 2025 from Rs 1,752.99 crore as of 31 March 2024. Inventories rose to Rs 2,045.05 crore as of 31 March 2025 from Rs 1,582.73 crore as of 31 March 2024. Sundry debtors were lower at Rs 62.95 crore as of 31 March 2025 compared to Rs 81.74 crore as of 31 March 2024. Cash and bank balance rose to Rs 339.84 crore as of 31 March 2025 from Rs 297.56 crore as of 31 March 2024. Investments rose to Rs 1,480.25 crore as of 31 March 2025 from Rs 1,416.03 crore as of 31 March 2024 . PBDT rose 34.02% to Rs 688.83 crore. Provision for depreciation rose 27.73% to Rs 271.98 crore. Fixed assets increased to Rs 4,047.44 crore as of 31 March 2025 from Rs 2,646.51 crore as of 31 March 2024. Intangible assets stood at Rs 27.19 crore. Profit before tax grew 38.47% to Rs 416.85 crore. Provision for tax was expense of Rs 104.15 crore, compared to Rs 206.94 crore. Effective tax rate was 25.05% compared to 22.52%. Net profit attributable to owners of the company decreased 54.82% to Rs 318.15 crore. Equity capital stood at Rs 35.55 crore as of 31 March 2025 to Rs 35.55 crore as of 31 March 2024. Per share face Value remained same at Rs 1.00. Promoters' stake was 37.01% as of 31 March 2025 ,compared to 37.01% as of 31 March 2024 .
Full year results analysis.
Net sales (including other operating income) of Trent has increased 38.46% to Rs 17134.61 crore.
Operating profit margin has jumped from 15.53% to 16.10%, leading to 43.51% rise in operating profit to Rs 2,758.45 crore. Purchase of finished goods cost rose from 56.81% to 57.67%. Employee cost decreased from 8.27% to 7.44%. Other expenses fell from 19.60% to 19.21%. Selling and administration expenses fell from 8.69% to 8.62%. Other income fell 24.44% to Rs 218.56 crore. PBIDT rose 34.62% to Rs 2977.01 crore. Provision for interest fell 56.57% to Rs 138.59 crore. Loan funds rose to Rs 2,237.19 crore as of 31 March 2025 from Rs 1,752.99 crore as of 31 March 2024. Inventories rose to Rs 2,045.05 crore as of 31 March 2025 from Rs 1,582.73 crore as of 31 March 2024. Sundry debtors were lower at Rs 62.95 crore as of 31 March 2025 compared to Rs 81.74 crore as of 31 March 2024. Cash and bank balance rose to Rs 339.84 crore as of 31 March 2025 from Rs 297.56 crore as of 31 March 2024. Investments rose to Rs 1,480.25 crore as of 31 March 2025 from Rs 1,416.03 crore as of 31 March 2024 . PBDT rose 50% to Rs 2838.42 crore. Provision for depreciation rose 33.39% to Rs 895.18 crore. Fixed assets increased to Rs 4,047.44 crore as of 31 March 2025 from Rs 2,646.51 crore as of 31 March 2024. Intangible assets stood at Rs 27.19 crore. Profit before tax grew 59.13% to Rs 1,943.24 crore. Share of profit/loss was 30% lower at Rs 86.5 crore. Provision for tax was expense of Rs 495.33 crore, compared to Rs 443.37 crore. Effective tax rate was 24.40% compared to 23.08%. Minority interest decreased 31.80% to Rs -12.31 crore. Net profit attributable to owners of the company increased 4.03% to Rs 1,546.72 crore. Equity capital stood at Rs 35.55 crore as of 31 March 2025 to Rs 35.55 crore as of 31 March 2024. Per share face Value remained same at Rs 1.00. Promoters' stake was 37.01% as of 31 March 2025 ,compared to 37.01% as of 31 March 2024 .
Others:
As of 31 March 2025, the company's portfolio included 248 Westside, 765 Zudio and 30 stores across other lifestyle concepts. In FY25 we opened 40 Westside and 244 Zudio stores and consolidated 24 Westside & Zudio stores each In FY25 the company added presence across 64 cities/towns including many in Tier 2 and Tier 3 locations. For the fashion portfolio the like for like growth in Q4FY25 was in the mid-single digits and for the financial year it was in the double digits. The emerging categories, including beauty & personal care, innerwear and footwear continued to gain traction with customers. These emerging categories contribute to over 20% of our revenues In FY25, online revenues grew by 43% and contributed to over 6% of Westside revenues. The Star business, now consists of 78 stores including the addition of 12 stores in the current year and witnessed an all-round improved operating performance, driven by the company's own brands, staples, fresh & its general merchandise offerings. The business registered an operating revenue growth of 17% in Q4FY25.
Management Commentary
Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Limited saidIn FY25, we built on the agenda of strongly growing our reach and becoming more accessible to our customers. Given the seasonality of the business, nature of the real estate market and our approach to inventory management, the full year performance is more representative with respect to revenues, operating profitability and network expansion vis-'-vis any individual quarter. Our fashion portfolio continues to be differentiated by disciplines & choices. In FY25, Zudio revenues exceeded a billion dollars. Both Westside and Zudio now have the scale & reach and enjoy significant consumer awareness & love. The Indian consumer has evolved rapidly in the recent years and is seeking an aspirational product proposition, attractive pricing and importantly ready accessibility. We believe building density of our presence in key markets allows us proximity and the ability to service our customers readily. The market opportunity associated with building brands and a pure play direct-to-customer business like ours remains immense. In our Star business, we are applying Trent's playbook and the contribution of our own brands is now trending over 70% of revenues. The opportunity in the food space for the Star proposition is exciting while being competitive. We remain convinced that this business is well poised to deliver much consumer value and growth in the years ahead.'
| Trent : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202503 | 202403 | Var.(%) | 202503 | 202403 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,216.94 | 3,297.70 | 27.88 | 17,134.61 | 12,375.11 | 38.46 | | OPM (%) | 15.46 | 14.24 | 122 bps | 16.10 | 15.53 | 57 bps | | OP | 652.01 | 469.64 | 38.83 | 2,758.45 | 1,922.13 | 43.51 | | Other Inc. | 74.34 | 76.87 | -3.29 | 218.56 | 289.27 | -24.44 | | PBIDT | 726.35 | 546.51 | 32.91 | 2,977.01 | 2,211.40 | 34.62 | | Interest | 37.52 | 32.54 | 15.30 | 138.59 | 319.10 | -56.57 | | PBDT | 688.83 | 513.97 | 34.02 | 2,838.42 | 1,892.30 | 50.00 | | Depreciation | 271.98 | 212.94 | 27.73 | 895.18 | 671.11 | 33.39 | | PBT | 416.85 | 301.03 | 38.47 | 1943.24 | 1221.19 | 59.13 | | Share of Profit/(Loss) from Associates | -1.1 | 41.93 | PL | 86.5 | 123.57 | -30.00 | | PBT before EO | 415.75 | 342.96 | 21.22 | 2029.74 | 1344.76 | 50.94 | | EO Income | 0 | 576.07 | - | 0 | 576.07 | - | | PBT after EO | 415.75 | 919.03 | -54.76 | 2029.74 | 1920.83 | 5.67 | | Taxation | 104.15 | 206.94 | -49.67 | 495.33 | 443.37 | 11.72 | | PAT | 311.6 | 712.09 | -56.24 | 1534.41 | 1477.46 | 3.85 | | Minority Interest (MI) | -6.55 | 7.86 | LP | -12.31 | -9.34 | -31.80 | | Net profit | 318.15 | 704.23 | -54.82 | 1546.72 | 1486.8 | 4.03 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 318.15 | 704.23 | -54.82 | 1546.72 | 1486.8 | 4.03 | | EPS (Rs)* | 8.95 | 7.57 | 18.17 | 43.51 | 29.53 | 47.33 | | | * EPS is on current equity of Rs 35.55 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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